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 |
3,512,510 |
3,777,742 |
3,706,000 |
|||
|
Suppliers |
1,971,887 |
1,719,913 |
1,830,000 |
|||
|
Depreciation and amortisation |
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 |
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 |
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 |
94,059 |
71,282 |
112,000 |
|||
|
Trade and other receivables |
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 |
314,232 |
96,900 |
146,000 |
|||
|
Property, plant and equipment |
88,133 |
86,130 |
134,000 |
|||
|
Computer software |
905,415 |
1,127,262 |
915,000 |
|||
|
Other non-financial assets |
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 |
352,792 |
197,284 |
187,000 |
|||
|
Other payables |
445,398 |
116,909 |
188,000 |
|||
|
Total payables |
798,190 |
314,193 |
375,000 |
|||
|
Provisions |
||||||
|
Employee provisions |
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 |
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 |
2,106,119 |
2,317,884 |
2,642,000 |
|||
|
Grants |
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 |
88,851 |
88,851 |
90,000 |
|||
|
Trade and other receivables |
563,801 |
533,043 |
338,000 |
|||
|
Total financial assets |
652,652 |
621,894 |
428,000 |
|||
|
Non-financial assets |
||||||
|
Other non-financial assets |
- |
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 |
250,788 |
194,171 |
108,000 |
|||
|
Grants |
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 |
88,851 |
88,851 |
||
|
This schedule should be read in conjunction with the accompanying notes. |
||||
Visit
https://www.transparency.gov.au/annual-reports/organ-and-tissue-authority/reporting-year/2018-2019-38