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 | 3,641,988 | 3,512,510 | 3,772,000 | |
Suppliers | 1,270,199 | 1,971,887 | 1,649,000 | |
Finance costs | 10,553 | - | - | |
Depreciation and amortisation | 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 | 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 | 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 | 74,712 | 94,059 | 71,000 | |
Trade and other receivables | 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 | 1,265,534 | 314,232 | 152,000 | |
Property, plant and equipment | 78,430 | 88,133 | 54,000 | |
Computer software | 993,642 | 905,415 | 622,000 | |
Other non-financial assets | 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 | 293,932 | 352,792 | 197,000 | |
Other payables | 137,109 | 445,398 | 117,000 | |
Total payables | 431,041 | 798,190 | 314,000 | |
Interest bearing liabilities | ||||
Leases | 1,051,149 | - | - | |
Total interest bearing liabilities | 1,051,149 | - | - | |
Provisions | ||||
Employee provisions | 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 | 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 ($) | |
Net cost of services | ||||
Expenses | ||||
Suppliers | 1,651,741 | 2,106,119 | 1,228,000 | |
Grants | 44,871,207 | 41,037,802 | 42,161,000 | |
Total expenses | 46,522,948 | 43,143,921 | 43,389,000 | |
Income | ||||
Revenue | ||||
Non-taxation revenue | ||||
Other | 3,140,000 | - | - | |
Total non-taxation revenue | 3,140,000 | - | - | |
Total revenue | 3,140,000 | - | - | |
Net cost of services | (43,382,948) | (43,143,921) | (43,389,000) | |
Deficit | (43,382,948) | (43,143,921) | (43,389,000) | |
Total comprehensive loss | (43,382,948) | (43,143,921) | (43,389,000) | |
The above schedule should be read in conjunction with the accompanying notes. | ||||
Budget variances commentary
Suppliers and grants
Increase in supplier expenses reflects unbudgeted expenditure on the Electronic Donor Record.
Increase in grants expenditure reflects additional expenditure on supporting and maintaining clinical currency of the national waitlisting and matching system; OrganMatch.
Other revenue
Other revenue received relates to unbudgeted contributions from the Department of Health for OrganMatch.
Administered schedule of assets and liabilities as at 30 June 2020
Notes | 2020 ($) | 2019 ($) | Original budget ($) | |
Assets | ||||
Financial assets | ||||
Cash and cash equivalents | 80,000 | 88,851 | 89,000 | |
Trade and other receivables | 425,361 | 563,801 | 533,000 | |
Total financial assets | 505,361 | 652,652 | 622,000 | |
Non-financial assets | ||||
Other non-financial assets | 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 | 225,418 | 250,788 | 194,000 | |
Grants | 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 | 80,000 | 88,851 | |
This schedule should be read in conjunction with the accompanying notes. | |||
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