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Primary financial statements

The following statements present the financial position of the OTA as at 30 June 2020.

Statement of comprehensive income for the period ended 30 June 2020

Notes

2020 ($)

2019 ($)

Original budget ($)

Net cost of services

Expenses

Employee benefits

1.1A

3,641,988

3,512,510

3,772,000

Suppliers

1.1B

1,270,199

1,971,887

1,649,000

Finance costs

1.1C

10,553

-

-

Depreciation and amortisation

3.2A

646,363

562,392

481,000

Total expenses

5,569,103

6,046,789

5,902,000

Own-source income

Own-source revenue

Resources received free of charge

1.2A

114,000

103,000

85,000

Total own-source revenue

114,000

103,000

85,000

Total own-source income

114,000

103,000

85,000

Net cost of services

(5,455,103)

(5,943,789)

(5,817,000)

Revenue from Government

1.2B

5,308,000

5,461,000

5,336,000

Deficit

(147,103)

(482,789)

(481,000)

Other comprehensive income

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation deficit

(5,503)

(3,855)

-

Total other comprehensive loss

(5,503)

(3,855)

-

Total comprehensive loss

(152,606)

(486,644)

(481,000)

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

Budget variances commentary

Employee benefits

Employee benefits were lower due to lower than budgeted staffing levels resulting from unanticipated staff movements during the year, including COVID-19 staff redeployments.

Suppliers

Supplier expenses were $0.38 million lower than budget largely due to the application of AASB 16 Leases and reduced travel costs following COVID-19 travel restrictions.

Depreciation and amortisation

Depreciation estimates in the original budget did not take into account the impact of AASB 16. Therefore, depreciation and amortisation expenses are higher than budgeted as the expense includes depreciation on the right-of-use asset.

Statement of financial position as at 30 June 2020

Notes

2020 ($)

2019 ($)

Original budget ($)

Assets

Financial assets

Cash and cash equivalents

3.1A

74,712

94,059

71,000

Trade and other receivables

3.1B

2,243,438

2,136,781

1,967,000

Total financial assets

2,318,150

2,230,840

2,038,000

Non-financial assets1

Buildings

3.2A

1,265,534

314,232

152,000

Property, plant and equipment

3.2A

78,430

88,133

54,000

Computer software

3.2A

993,642

905,415

622,000

Other non-financial assets

3.2B

76,923

88,459

112,000

Total non-financial assets

2,414,529

1,396,239

940,000

Total assets

4,732,679

3,627,079

2,978,000

Liabilities

Payables

Suppliers

3.3A

293,932

352,792

197,000

Other payables

3.3B

137,109

445,398

117,000

Total payables

431,041

798,190

314,000

Interest bearing liabilities

Leases

3.4A

1,051,149

-

-

Total interest bearing liabilities

1,051,149

-

-

Provisions

Employee provisions

6.1A

1,042,725

1,022,082

1,102,000

Total provisions

1,042,725

1,022,082

1,102,000

Total liabilities

2,524,915

1,820,272

1,416,000

Net assets

2,207,764

1,806,807

1,562,000

Equity

Contributed equity

3,418,000

3,168,000

3,418,000

Asset revaluation reserve

662,781

668,284

672,000

Accumulated deficit

(1,873,017)

(2,029,477)

(2,528,000)

Total equity

2,207,764

1,806,807

1,562,000

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

1 Right-of-use assets are included in the following line items: Buildings

Budget variances commentary

Trade and other receivables

Variance in trade and other receivables reflects a higher than anticipated appropriation receivable balance at 30 June 2020. This balance reflects the operating result surplus (after unfunded depreciation and amortisation expenses).

Buildings

Variance in buildings is a consequence of the application of AASB 16 and the revaluation of the office fitout at the new premises at 30 June 2019 which was not recognised in the original budget.

Property, plant and equipment

Increased level of expenditure on plant and equipment compared to budget, mainly attributable to the purchase of IT equipment including new laptops.

Computer software

Increased level of expenditure on computer software compared to budget reflects enhancements to: the Electronic Donor Record, the DonateLife Audit tool and the Electronic Document Records Management System.

Other non-financial assets

Variance relates to the timing of a prepayment of support fees for the data and analytic applications.

Payables and other payables

Increase in supplier and other payables is due to the timing of receipt of services and accompanying tax invoice.

Leases

Variance is a consequence of the application of AASB 16 which was not recognised in the original budget.

Statement of changes in equity for the period ended 30 June 2020

Notes

2020 ($)

2019 ($)

Original budget ($)

Contributed equity

Opening balance

Balance carried forward from previous period

3,168,000

2,919,000

3,168,000

Adjusted opening balance

3,168,000

2,919,000

3,168,000

Transactions with owners

Contributions by owners

Departmental capital budget

250,000

249,000

250,000

Total transactions with owners

250,000

249,000

250,000

Closing balance as at 30 June

3,418,000

3,168,000

3,418,000

Retained earnings

Opening balance

Balance carried forward from previous period

(2,029,477)

(1,546,688)

(2,047,000)

Adjustment on initial application of AASB 16

303,563

-

-

Adjusted opening balance

(1,725,914)

(1,546,688)

(2,047,000)

Comprehensive income

Deficit for the period

(147,103)

(482,789)

(481,000)

Other comprehensive income

-

-

-

Total comprehensive income

(147,103)

(482,789)

(481,000)

Closing balance as at 30 June

(1,873,017)

(2,029,477)

(2,528,000)

Asset revaluation reserve

Opening balance

Balance carried forward from previous period

668,284

672,139

672,000

Adjusted opening balance

668,284

672,139

672,000

Comprehensive income

Other comprehensive income

(5,503)

(3,855)

-

Total comprehensive income

(5,503)

(3,855)

-

Closing balance as at 30 June

662,781

668,284

672,000

Total equity

Opening balance

Balance carried forward from previous period

1,806,807

2,044,451

1,793,000

Adjustment on initial application of AASB 16

303,563

-

-

Adjusted opening balance

2,110,370

2,044,451

1,793,000

Comprehensive income

Deficit for the period

(147,103)

(482,789)

(481,000)

Other comprehensive income

(5,503)

(3,855)

-

Total comprehensive income

(152,606)

(486,644)

(481,000)

Transactions with owners

Contributions by owners

Departmental capital budget

250,000

249,000

250,000

Total transactions with owners

250,000

249,000

250,000

Closing balance as at 30 June

2,207,764

1,806,807

1,562,000

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.

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

Budget variances commentary

Statement of changes in equity

Variance in total equity compared to budget is due to the initial application of AASB 16 and the impact of reduced staffing levels and travel expenditure.

Cash flow statement for the period ended 30 June 2020

Notes

2020 ($)

2019 ($)

Original budget ($)

Operating activities

Cash received

Appropriations

5,490,852

5,597,589

5,336,000

Net GST received

156,865

181,745

203,000

Section 74 receipts

91,752

151,118

-

Total cash received

5,739,469

5,930,452

5,539,000

Cash used

Employees

(3,772,364)

(3,674,681)

(3,772,000)

Suppliers

(1,369,540)

(1,866,550)

(1,564,000)

Section 74 receipts transferred to OPA

(91,752)

(151,118)

-

Other

(156,865)

(181,745)

(203,000)

Total cash used

(5,390,521)

(5,874,094)

(5,539,000)

Net cash from operating activities

348,948

56,358

-

Investing activities

Cash used

Purchase of property, plant and equipment

(25,965)

(126,382)

(250,000)

Purchase of computer software

(333,527)

(156,199)

-

Total cash used

(359,492)

(282,581)

(250,000)

Net cash used by investing activities

(359,492)

(282,581)

(250,000)

Financing activities

Cash received

Contributed equity

250,000

249,000

250,000

Total cash received

250,000

249,000

250,000

Cash used

Principal payments of lease liabilities

(258,803)

-

-

Total cash used

(258,803)

-

-

Net cash from/(used by) financing activities

(8,803)

249,000

250,000

Net increase/(decrease) in cash held

(19,347)

22,777

-

Cash and cash equivalents at the beginning of the reporting period

94,059

71,282

71,000

Cash and cash equivalents at the end of the reporting period

3.1A

74,712

94,059

71,000

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

Budget variances commentary

Cash flow statement

Variances against budget in the Cash flow statement are broadly consistent with the explanations provided for income and expenses. No budget was provided for in the Cash flow statement for the transfer of s74 receipts to the OPA or the recognition of principle payments of lease liabilities on application of AASB 16.

Administered schedule of comprehensive income for the period ended 30 June 2020

Notes

2020 ($)

2019 ($)

Original budget ($)

Net cost of services

Expenses

Suppliers

2.1A

1,651,741

2,106,119

1,228,000

Grants

2.1B

44,871,207

41,037,802

42,161,000

Total expenses

46,522,948

43,143,921

43,389,000

Income

Revenue

Non-taxation revenue

Other

2.2

3,140,000

-

-

Total non-taxation revenue

3,140,000

-

-

Total revenue

3,140,000

-

-

Net cost of services

(43,382,948)

(43,143,921)

(43,389,000)

Deficit

(43,382,948)

(43,143,921)

(43,389,000)

Total comprehensive loss

(43,382,948)

(43,143,921)

(43,389,000)

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

Budget variances commentary

Suppliers and grants

Increase in supplier expenses reflects unbudgeted expenditure on the Electronic Donor Record.

Increase in grants expenditure reflects additional expenditure on supporting and maintaining clinical currency of the national waitlisting and matching system; OrganMatch.

Other revenue

Other revenue received relates to unbudgeted contributions from the Department of Health for OrganMatch.

Administered schedule of assets and liabilities as at 30 June 2020

Notes

2020 ($)

2019 ($)

Original budget ($)

Assets

Financial assets

Cash and cash equivalents

4.1A

80,000

88,851

89,000

Trade and other receivables

4.1B

425,361

563,801

533,000

Total financial assets

505,361

652,652

622,000

Non-financial assets

Other non-financial assets

4.2A

231,322

-

207,000

Total non-financial assets

231,322

-

207,000

Total assets administered on behalf of Government

736,683

652,652

829,000

Liabilities

Payables

Suppliers

4.3A

225,418

250,788

194,000

Grants

4.3B

7,711,241

8,447,952

8,350,000

Total payables

7,936,659

8,698,740

8,544,000

Total liabilities administered on behalf of Government

7,936,659

8,698,740

8,544,000

Net liabilities

( 7,199,976)

( 8,046,088)

( 7,715,000)

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

Budget variances commentary

Trade and other receivables

Trade and other receivables were lower than budget due to lower than forecast GST receivable from the Australian Taxation Office.

Other non-financial assets

Other non-financial assets are prepayments made for the Electronic Donor Record software licencing. The variance to budget is to due to the indexation of licencing costs not budgeted for.

Supplier and grants payables

Variance in supplier and grant payables compared to budget is a reflection of the timing of payments made to key suppliers and grant recipients at 30 June 2020.

Administered reconcilitation schedule

2020 ($)

2019 ($)

Opening assets less liabilities as at 1 July

(8,046,088)

(7,715,244)

Net cost of services

Income

3,140,000

-

Expenses

Payments to entities other than corporate Commonwealth entities

(46,522,948)

(43,143,921)

Transfers (to)/from the Australian Government

Appropriation transfers from Official Public Account

Net GST appropriations

158,508

(101,764)

Annual appropriations

Payments to entities other than corporate Commonwealth entities

47,241,322

43,128,005

Appropriation transfers to OPA

Transfers to OPA

(3,170,770)

(213,164)

Closing assets less liabilities as at 30 June

( 7,199,976)

( 8,046,088)

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 2020

Notes

2020 ($)

2019 ($)

Operating activities

Cash received

Net GST received

904,878

886,236

Section 74 receipts

3,170,770

213,164

Other

3,140,000

-

Total cash received

7,215,648

1,099,400

Cash used

Suppliers

(2,099,276)

(1,894,208)

Grants

(49,354,282)

(42,018,269)

Total cash used

(51,453,558)

(43,912,477)

Net cash used by operating activities

(44,237,910)

(42,813,077)

Cash from Official Public Account

Appropriations

47,241,322

43,128,005

GST appropriation

773,939

782,796

Total cash from Official Public Account

48,015,261

43,910,801

Cash to Official Public Account

Appropriations

(3,170,770)

(213,164)

Return of GST appropriations to the Official Public Account

(615,432)

(884,560)

Total cash to Official Public Account

(3,786,202)

(1,097,724)

Cash and cash equivalents at the beginning of the reporting period

88,851

88,851

Cash and cash equivalents at the end of the reporting period

4.1A

80,000

88,851

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