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Primary financial statements

The following statements present the financial position of the OTA as at 30 June 2019.

Statement of comprehensive income for the period ended 30 June 2019

Notes

2019

2018

Original budget

$

$

$

Net cost of services

Expenses

Employee benefits

1.1A

3,512,510

3,777,742

3,706,000

Suppliers

1.1B

1,971,887

1,719,913

1,830,000

Depreciation and amortisation

3.2A

562,392

442,383

440,000

Total expenses

6,046,789

5,940,038

5,976,000

Own-source income

Own-source revenue

Resources received free of charge

1.2A

103,000

86,000

75,000

Total own-source revenue

103,000

86,000

75,000

Total own-source income

103,000

86,000

75,000

Net cost of services

(5,943,789)

(5,854,038)

(5,901,000)

Revenue from Government

1.2B

5,461,000

5,453,000

5,461,000

Deficit

(482,789)

(401,038)

(440,000)

Other comprehensive income

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation deficit

(3,855)

(3,046)

-

Total other comprehensive loss

(3,855)

(3,046)

-

Total comprehensive loss

(486,644)

(404,084)

(440,000)

The above statement should be read in conjunction with the accompanying notes.

Budget variances commentary

Employee benefits

Decrease in employee benefits compared with budget relates primarily to lower than budgeted staffing levels resulting from unanticipated staff movements during the year.

Suppliers

Increase in supplier expenses compared with budget is a consequence of the timing of the relocation to the new office and corresponding new lease commencement date and payout of the previous lease agreement.

Depreciation and amortisation

The variance against the original budget reflects increased amortisation expense on enhancements to software and new DonateLife website as well as the amortisation on the fitout incentive not budgeted.

Statement of financial position as at 30 June 2019

Notes

2019

2018

Original budget

$

$

$

Assets

Financial assets

Cash and cash equivalents

3.1A

94,059

71,282

112,000

Trade and other receivables

3.1B

2,136,781

1,967,589

1,788,000

Total financial assets

2,230,840

2,038,871

1,900,000

Non-financial assets

Buildings

3.2A

314,232

96,900

146,000

Property, plant and equipment

3.2A

88,133

86,130

134,000

Computer software

3.2A

905,415

1,127,262

915,000

Other non-financial assets

3.2B

88,459

111,520

47,000

Total non-financial assets

1,396,239

1,421,812

1,242,000

Total assets

3,627,079

3,460,683

3,142,000

Liabilities

Payables

Suppliers

3.3A

352,792

197,284

187,000

Other payables

3.3B

445,398

116,909

188,000

Total payables

798,190

314,193

375,000

Provisions

Employee provisions

6.1A

1,022,082

1,102,039

845,000

Total provisions

1,022,082

1,102,039

845,000

Total liabilities

1,820,272

1,416,232

1,220,000

Net assets

1,806,807

2,044,451

1,922,000

Equity

Contributed equity

3,168,000

2,919,000

3,168,000

Asset revaluation reserve

668,284

672,139

675,000

Accumulated deficit

(2,029,477)

(1,546,688)

(1,921,000)

Total equity

1,806,807

2,044,451

1,922,000

The above statement should be read in conjunction with the accompanying notes.

Budget variances commentary

Cash and cash equivalents

Lower than forecast cash and cash equivalents balance reflects timing of invoice payments at 30 June 2019.

Trade and other receivables

Variance in trade and other receivables compared to budget relates to a higher appropriation receivable balance at 30 June 2019 and reflects the increase in current year liabilities.

Buildings

Variance reflects the timing of the new fitout and consequential valuation of existing fitout.

Property, plant and equipment

Lower than forecast property, plant and equipment reflects re-prioritising of capital budget to the new office fitout.

Payables and other payables

Variance in supplier payables is due to the timing of receipt of services and an accompanying tax invoice. Increase in other payables relates to the lease incentive received at the new office not budgeted for.

Employee provisions

The variances in employee provision reflect changes in bond rates and staff movements during the year.

Statement of changes in equity for the period ended 30 June 2019

Notes

2019

2018

Original budget

$

$

$

Contributed equity

Opening balance

Balance carried forward from previous period

2,919,000

2,668,000

2,919,000

Adjusted opening balance

2,919,000

2,668,000

2,919,000

Transactions with owners

Contributions by owners

Departmental capital budget

249,000

251,000

249,000

Total transactions with owners

249,000

251,000

249,000

Closing balance as at 30 June

3,168,000

2,919,000

3,168,000

Retained earnings

Opening balance

Balance carried forward from previous period

(1,546,688)

(1,145,650)

(1,481,000)

Adjusted opening balance

(1,546,688)

(1,145,650)

(1,481,000)

Comprehensive income

Deficit for the period

(482,789)

(401,038)

(440,000)

Total comprehensive income

(482,789)

(401,038)

(440,000)

Closing balance as at 30 June

(2,029,477)

(1,546,688)

(1,921,000)

Asset revaluation reserve

Opening balance

Balance carried forward from previous period

672,139

675,185

675,000

Adjusted opening balance

672,139

675,185

675,000

Comprehensive income

Other comprehensive income

(3,855)

(3,046)

-

Total comprehensive income

(3,855)

(3,046)

-

Closing balance as at 30 June

668,284

672,139

675,000

Total equity

Opening balance

Balance carried forward from previous period

2,044,451

2,197,535

2,113,000

Adjusted opening balance

2,044,451

2,197,535

2,113,000

Comprehensive income

Deficit for the period

(482,789)

(401,038)

(440,000)

Other comprehensive income

(3,855)

(3,046)

-

Total comprehensive income

(486,644)

(404,084)

(440,000)

Transactions with owners

Contributions by owners

Departmental capital budget

249,000

251,000

249,000

Total transactions with owners

249,000

251,000

249,000

Closing balance as at 30 June

1,806,807

2,044,451

1,922,000

The above statement should be read in conjunction with the accompanying notes.

Accounting policy

Equity injections

Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and Departmental capital budgets (DCBs) are recognised directly in contributed equity in that year.

Budget variances commentary

Asset revaluation reserve

The movements in the reserves relates to the movement in asset values associated with the asset revaluation exercise completed in 2019.

Accumulated deficit

Variance reflects the higher than budgeted operating deficit due to the increased depreciation and amortisation expense not budgeted for.

Cash flow statement for the period ended 30 June 2019

Notes

2019

2018

Original budget

$

$

$

Operating activities

Cash received

Appropriations

5,597,589

5,579,431

5,461,000

Net GST received

181,745

163,945

203,000

Section 74 receipts

151,118

62,425

-

Total cash received

5,930,452

5,805,801

5,664,000

Cash used

Employees

(3,674,681)

(3,731,388)

(3,706,000)

Suppliers

(1,866,550)

(1,855,601)

(1,755,000)

Section 74 receipts transferred to OPA

(151,118)

(62,425)

-

Other

(181,745)

(163,945)

(203,000)

Total cash used

(5,874,094)

(5,813,359)

(5,664,000)

Net cash from/(used by) operating activities

56,358

(7,558)

-

Investing activities

Cash used

Purchase of property, plant and equipment

(126,382)

(22,415)

(249,000)

Purchase of computer software

(156,199)

(262,188)

-

Total cash used

(282,581)

(284,603)

(249,000)

Net cash used by investing activities

(282,581)

(284,603)

(249,000)

Financing activities

Cash received

Contributed equity

249,000

251,000

249,000

Total cash received

249,000

251,000

249,000

Net cash from financing activities

249,000

251,000

249,000

Net increase/(decrease) in cash held

22,777

(41,161)

-

Cash and cash equivalents at the beginning of the reporting period

71,282

112,443

112,000

Cash and cash equivalents at the end of the reporting period

3.1A

94,059

71,282

112,000

The above statement should be read in conjunction with the accompanying notes.

Budget variances commentary

Operating activities

Variance is caused by an increase in appropriations drawndown due to the timing of prior year liability payments.

Investing activities

Variance reflects the cash impact of the timing difference of expenditure and payments associated with the Electronic Records Management System.

Administered schedule of comprehensive income for the period ended 30 June 2019

Notes

2019

2018

Original budget

$

$

$

Net cost of services

Expenses

Suppliers

2.1A

2,106,119

2,317,884

2,642,000

Grants

2.1B

41,037,802

39,797,366

40,506,000

Total expenses

43,143,921

42,115,250

43,148,000

Net cost of services

(43,143,921)

(42,115,250)

(43,148,000)

Deficit

(43,143,921)

(42,115,250)

(43,148,000)

Total comprehensive loss

(43,143,921)

(42,115,250)

(43,148,000)

The above schedule should be read in conjunction with the accompanying notes.

Budget variances commentary

Suppliers and grants

Underspends in supplier expenses were achieved in 2019 following reduced use of external public relation providers, reduction in legal fees and Australian Organ Donor Register support costs. Savings in budgeted supplier costs were reallocated to provide funding for additional requirements under the Australian Red Cross Blood Service funding agreement for OrganMatch.

Administered schedule of assets and liabilities as at 30 June 2019

2019

2018

Original budget

Notes

$

$

$

Assets

Financial assets

Cash and cash equivalents

4.1A

88,851

88,851

90,000

Trade and other receivables

4.1B

563,801

533,043

338,000

Total financial assets

652,652

621,894

428,000

Non-financial assets

Other non-financial assets

4.2A

-

207,675

150,000

Total non-financial assets

-

207,675

150,000

Total assets administered on behalf of Government

652,652

829,569

578,000

Liabilities

Payables

Suppliers

4.3A

250,788

194,171

108,000

Grants

4.3B

8,447,952

8,350,642

14,089,000

Total payables

8,698,740

8,544,813

14,197,000

Total liabilities administered on behalf of Government

8,698,740

8,544,813

14,197,000

Net liabilities

( 8,046,088)

( 7,715,244)

( 13,619,000)

This schedule should be read in conjunction with the accompanying notes.

Budget variances commentary

Trade and other receivables

Variance to budget relates to unforecast grant receivable balance and higher than forecast GST receivable from the Australian Taxation Office.

Other non-financial assets

Variance to budget relates to timing of payments made for Electronic Donor Record software licencing.

Supplier and grants payables

Variances in supplier and grant payables is a reflection of the timing of payments made to key suppliers and grant recipients at 30 June 2019.

Administered reconciliation schedule

2019

2018

$

$

Opening assets less liabilities as at 1 July

(7,715,244)

(13,619,348)

Net cost of services

Expenses

Payments to entities other than corporate Commonwealth entities

(43,143,921)

(42,115,250)

Transfers (to)/from the Australian Government

Appropriation transfers from Official Public Account

Net GST appropriations

(101,764)

227,563

Annual appropriations

Payments to entities other than corporate Commonwealth entities

43,128,005

47,911,545

Appropriation transfers to OPA

Transfers to OPA

(213,164)

(119,754)

Closing assets less liabilities as at 30 June

( 8,046,088)

( 7,715,244)

The above schedule should be read in conjunction with the accompanying notes.

Accounting policy

Administered cash transfers to and from the Official Public Account

Revenue collected by the entity for use by the Government rather than the entity is administered revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of Government. These transfers to and from the OPA are adjustments to the administered cash held by the entity on behalf of the Government and reported as such in the schedule of administered cash flows and in the administered reconciliation schedule.

Administered cash flow statement for the period ended 30 June 2019

2019

2018

Notes

$

$

Operating activities

Cash received

Net GST received

886,236

768,871

Section 74 receipts

213,164

119,754

Total cash received

1,099,400

888,625

Cash used

Suppliers

(1,894,208)

(2,519,009)

Grants

(42,018,269)

(46,390,519)

Total cash used

(43,912,477)

(48,909,528)

Net cash used by operating activities

(42,813,077)

(48,020,903)

Cash from Official Public Account

Appropriations

43,128,005

47,911,545

GST appropriation

782,796

996,434

Total cash from Official Public Account

43,910,801

48,907,979

Cash to Official Public Account

Appropriations

(213,164)

(119,754)

Return of GST appropriations to the Official Public Account

(884,560)

(768,871)

Total cash to Official Public Account

(1,097,724)

(888,625)

Cash and cash equivalents at the beginning of the reporting period

88,851

90,400

Cash and cash equivalents at the end of the reporting period

4.1A

88,851

88,851

This schedule should be read in conjunction with the accompanying notes.