Primary financial statements
The following statements present the financial position of the OTA as at 30 June 2021.
Statement of comprehensive income for the period ended 30 June 2021
Notes | 2021 | 2020 | Original budget | |
($) | ($) | ($) | ||
Net cost of services | ||||
Expenses | ||||
Employee benefits | 3,772,884 | 3,641,988 | 3,794,000 | |
Suppliers | 1,193,476 | 1,270,199 | 1,399,000 | |
Finance costs | 8,867 | 10,553 | 13,000 | |
Depreciation and amortisation | 660,920 | 646,363 | 687,000 | |
Write-down and impairment of assets | 46,379 | – | – | |
Total expenses | 5,682,526 | 5,569,103 | 5,893,000 | |
Own-source income | ||||
Own-source revenue | ||||
Other revenue | 289,276 | 114,000 | 105,000 | |
Total own-source revenue | 289,276 | 114,000 | 105,000 | |
Total own-source income | 289,276 | 114,000 | 105,000 | |
Net cost of services | (5,393,250) | (5,455,103) | (5,788,000) | |
Revenue from Government | 5,276,000 | 5,308,000 | 5,276,000 | |
Surplus / (Deficit) | (117,250) | (147,103) | (512,000) | |
Other comprehensive income | ||||
Items not subject to subsequent reclassification to net cost of services | ||||
Changes in asset revaluation reserve | 3,697 | (5,503) | – | |
Total other comprehensive loss | 3,697 | (5,503) | – | |
Total comprehensive income / (loss) | (113,553) | (152,606) | (512,000) |
The above statement should be read in conjunction with the accompanying notes
Statement of financial position as at 30 June 2021
Notes | 2021 | 2020 | Original budget | |
($) | ($) | ($) | ||
Assets | ||||
Financial assets | ||||
Cash and cash equivalents | 267,776 | 74,712 | 75,000 | |
Trade and other receivables | 2,385,542 | 2,243,438 | 2,243,000 | |
Total financial assets | 2,653,318 | 2,318,150 | 2,318,000 | |
Non-financial assets1 | ||||
Buildings | 903,018 | 1,265,534 | 1,170,000 | |
Property, plant and equipment | 211,800 | 78,430 | 72,000 | |
Computer software | 766,958 | 993,642 | 834,000 | |
Prepayments | 120,605 | 76,923 | 78,000 | |
Total non-financial assets | 2,002,381 | 2,414,529 | 2,154,000 | |
Total assets | 4,655,699 | 4,732,679 | 4,472,000 | |
Liabilities | ||||
Payables | ||||
Suppliers | 409,568 | 293,932 | 294,000 | |
Other payables | 164,102 | 137,109 | 137,000 | |
Total payables | 573,670 | 431,041 | 431,000 | |
Interest bearing liabilities | ||||
Leases | 764,420 | 1,051,149 | 1,083,000 | |
Total interest bearing liabilities | 764,420 | 1,051,149 | 1,083,000 | |
Provisions | ||||
Employee provisions | 961,398 | 1,042,725 | 1,043,000 | |
Total provisions | 961,398 | 1,042,725 | 1,043,000 | |
Total liabilities | 2,299,488 | 2,524,915 | 2,557,000 | |
Net assets | 2,356,211 | 2,207,764 | 1,915,000 | |
Equity | ||||
Contributed equity | 3,680,000 | 3,418,000 | 3,680,000 | |
Asset revaluation reserve | 666,478 | 662,781 | 662,000 | |
Accumulated deficit | (1,990,267) | (1,873,017) | (2,427,000) | |
Total equity | 2,356,211 | 2,207,764 | 1,915,000 |
The above statement should be read in conjunction with the accompanying notes
- Right-of-use assets are included in the following line items: Buildings
Statement of changes in equity for the period ended 30 June 2021
Notes | 2021 | 2020 | Original budget | |
($) | ($) | ($) | ||
Contributed equity | ||||
Opening balance | ||||
Balance carried forward from previous period | 3,418,000 | 3,168,000 | 3,418,000 | |
Adjusted opening balance | 3,418,000 | 3,168,000 | 3,418,000 | |
Transactions with owners | ||||
Contributions by owners | ||||
Departmental capital budget | 262,000 | 250,000 | 262,000 | |
Total transactions with owners | 262,000 | 250,000 | 262,000 | |
Closing balance as at 30 June | 3,680,000 | 3,418,000 | 3,680,000 | |
Retained earnings | ||||
Opening balance | ||||
Balance carried forward from previous period | (1,873,017) | (2,029,477) | (1,915,000) | |
Adjustment on initial application of AASB 16 | – | 303,563 | – | |
Adjusted opening balance | (1,873,017) | (1,725,914) | (1,915,000) | |
Comprehensive income | ||||
Deficit for the period | (117,250) | (147,103) | (512,000) | |
Total comprehensive income | (117,250) | (147,103) | (512,000) | |
Closing balance as at 30 June | (1,990,267) | (1,873,017) | (2,427,000) | |
Asset revaluation reserve | ||||
Opening balance | ||||
Balance carried forward from previous period | 662,781 | 668,284 | 662,000 | |
Adjusted opening balance | 662,781 | 668,284 | 662,000 | |
Comprehensive income | ||||
Other comprehensive income | 3,697 | (5,503) | – | |
Total comprehensive income | 3,697 | (5,503) | – | |
Closing balance as at 30 June | 666,478 | 662,781 | 662,000 |
Notes | 2021 | 2020 | Original budget | |
($) | ($) | ($) | ||
Total equity | ||||
Opening balance | ||||
Balance carried forward from previous period | 2,207,764 | 1,806,807 | 2,165,000 | |
Adjustment on initial application of AASB 16 | – | 303,563 | – | |
Adjusted opening balance | 2,207,764 | 2,110,370 | 2,165,000 | |
Comprehensive income | ||||
Deficit for the period | (117,250) | (147,103) | (512,000) | |
Other comprehensive income | 3,697 | (5,503) | – | |
Total comprehensive income | (113,553) | (152,606) | (512,000) | |
Transactions with owners | ||||
Contributions by owners | ||||
Departmental capital budget | 262,000 | 250,000 | 262,000 | |
Total transactions with owners | 262,000 | 250,000 | 262,000 | |
Closing balance as at 30 June | 2,356,211 | 2,207,764 | 1,915,000 |
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. |
Cash flow statement for the period ended 30 June 2021
Notes | 2021 | 2020 | Original budget | |
($) | ($) | ($) | ||
Operating activities | ||||
Cash received | ||||
Appropriations | 5,516,106 | 5,490,852 | 5,276,000 | |
Net GST received | 131,751 | 156,865 | 203,000 | |
Section 74 receipts | 329,521 | 91,752 | – | |
Total cash received | 5,977,378 | 5,739,469 | 5,479,000 | |
Cash used | ||||
Employees | (3,865,257) | (3,772,364) | (3,794,000) | |
Suppliers | (1,175,552) | (1,369,540) | (1,294,000) | |
Interest payments on lease liabilities | – | – | (13,000) | |
Section 74 receipts transferred to OPA | (329,521) | (91,752) | – | |
Other | (131,751) | (156,865) | (203,000) | |
Total cash used | (5,502,081) | (5,390,521) | (5,304,000) | |
Net cash from operating activities | 475,297 | 348,948 | 175,000 | |
Investing activities | ||||
Cash used | ||||
Purchase of property, plant and equipment | (117,192) | (25,965) | (262,000) | |
Purchase of computer software | (131,445) | (333,527) | – | |
Total cash used | (248,637) | (359,492) | (262,000) | |
Net cash used by investing activities | (248,637) | (359,492) | (262,000) | |
Financing activities | ||||
Cash received | ||||
Contributed equity | 262,000 | 250,000 | 262,000 | |
Total cash received | 262,000 | 250,000 | 262,000 | |
Cash used | ||||
Principal payments of lease liabilities | (295,596) | (258,803) | (175,000) | |
Total cash used | (295,596) | (258,803) | (175,000) | |
Net cash from/(used by) financing activities | (33,596) | (8,803) | 87,000 | |
Net increase/(decrease) in cash held | 193,064 | (19,347) | – | |
Cash and cash equivalents at the beginning of the reporting period | 74,712 | 94,059 | 75,000 | |
Cash and cash equivalents at the end of the reporting period | 267,776 | 74,712 | 75,000 | |
The above statement should be read in conjunction with the accompanying notes.
Budget Variances commentary
Statement of comprehensive income
Employee Benefits
Variance in employee benefits compared to budget is due to unanticipated staff movements during the year and the timing of recruitment.
Suppliers
Supplier expenses were lower than budget largely due to the impact of COVID-19 on travel and training costs.
Depreciation and amortisation
The variance against the original budget is largely due to timing of amortisation on enhancements to the Electronic Donor Record.
Other revenue
The variance against budget is due to unbudgeted employee separation costs that were subsequently funded by the Department of Health.
Statement of financial position
Cash and cash equivalents
Increase in cash balance at 30 June compared with budget represents deposits made on 30 June.
Trade and other receivables
Variance in trade and other receivables reflects a higher than anticipated appropriation receivable balance at 30 June 2021 and is also reflected in the operating result surplus at 30 June 2021 (excluding unfunded depreciation and amortisation expenses).
Buildings
Depreciation estimates for buildings including right of use assets were higher than estimated in the budget.
Property, plant and equipment
Higher levels of acquisition of computer equipment were achieved during the year than estimated.
Other non-financial assets
Increase compared with budget is due to the timing of the 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 in lease liabilities is a result of opening balance estimates at the time of preparing the budget being higher than on application of AASB 16.
Statement of changes in equity
The original budget was prepared before the 2020 final outcome could be known. As a consequence, the opening balance was estimated hence the variances is in part attributed to unanticipated movements in the prior year period balances. In addition the variance is also a result of unanticipated underspends in employee and supplier expenses reflected in the current year operating result surplus (excluding unfunded depreciation and amortisation expenses) and receipt of other revenue not budgeted for.
Cash flow statement
Variances against budget in the Cash flow statement are broadly consistent with the explanations provided for expenses. The timing of payments, particularly for suppliers, will be dependent on the receipt of the goods and services and their related invoices and so can vary between reporting periods. No budget was provided for in the Cash flow statement for the transfer of section 74 receipts to the Official Public Account.
Administered schedule of comprehensive income for the period ended 30 June 2021
Notes | 2021 | 2020 | Original budget | |
($) | ($) | ($) | ||
Net cost of services | ||||
Expenses | ||||
Suppliers | 1,613,197 | 1,651,741 | 1,410,000 | |
Grants | 45,356,902 | 44,871,207 | 43,631,000 | |
Total expenses | 46,970,099 | 46,522,948 | 45,041,000 | |
Income | ||||
Revenue | ||||
Non-taxation revenue | ||||
Other | 1,930,945 | 3,140,000 | – | |
Total non-taxation revenue | 1,930,945 | 3,140,000 | – | |
Total revenue | 1,930,945 | 3,140,000 | – | |
Net cost of services | (45,039,154) | (43,382,948) | (45,041,000) | |
Deficit | (45,039,154) | (43,382,948) | (45,041,000) | |
Total comprehensive loss | (45,039,154) | (43,382,948) | (45,041,000) |
The above schedule should be read in conjunction with the accompanying notes.
Administered schedule of assets and liabilities as at 30 June 2021
Notes | 2021 | 2020 | Original budget | |
($) | ($) | ($) | ||
Assets | ||||
Financial assets | ||||
Cash and cash equivalents | 65,153 | 80,000 | 80,000 | |
Trade and other receivables | 559,912 | 425,361 | 8,014,000 | |
Total financial assets | 625,065 | 505,361 | 8,094,000 | |
Non-financial assets | ||||
Prepayments | 473,331 | 231,322 | 231,000 | |
Total non-financial assets | 473,331 | 231,322 | 231,000 | |
Total assets administered on behalf of Government | 1,098,396 | 736,683 | 8,325,000 | |
Liabilities | ||||
Payables | ||||
Suppliers | 241,381 | 225,418 | 225,000 | |
Grants | 11,395,845 | 7,711,241 | 7,711,000 | |
Total payables | 11,637,226 | 7,936,659 | 7,936,000 | |
Total liabilities administered on behalf of Government | 11,637,226 | 7,936,659 | 7,936,000 | |
Net assets / (liabilities) | (10,538,830) | (7,199,976) | 389,000 |
This schedule should be read in conjunction with the accompanying notes.
Budget Variances Commentary
Schedule of comprehensive income
Suppliers and grants
Increase in supplier expenses reflects increased expenditure on contractors in 2020–21 to deliver community awareness and education activities, stakeholder engagement and media liaison for the national program for organ and tissue donation in Australia.
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 largely relates to unbudgeted contributions from the Department of Health for OrganMatch.
Schedule of assets and liabilities
Trade and other receivables
Variance in trade and other receivables is due to the inclusion of appropriation receivable in the budget but is not reported on the primary financial statements.
Other non-financial assets
Prepayments were higher than budget largely due to increased cost for the Electronic Donor Record software licencing and supports costs under the new contract that was 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 2021.
Administered reconciliation schedule for the period ended 30 June 2021
2021 | 2020 | |
($) | ($) | |
Opening assets less liabilities as at 1 July | (7,199,976) | (8,046,088) |
Opening balance adjustment | (946) | - |
Adjusted opening assets less liabilities | (7,200,922) | (8,046,088) |
Net cost of services | ||
Income | 1,930,945 | 3,140,000 |
Expenses | ||
Payments to entities other than corporate Commonwealth entities | (46,970,099) | (46,522,948) |
Transfers (to)/from the Australian Government | ||
Appropriation transfers from Official Public Account | ||
Net GST appropriations | 57,792 | 158,508 |
Annual appropriations | ||
Payments to entities other than corporate Commonwealth entities | 43,868,422 | 47,241,322 |
Appropriation transfers to OPA | ||
Transfers to OPA | (2,224,968) | (3,170,770) |
Closing assets less liabilities as at 30 June | ( 10,538,830) | ( 7,199,976) |
The above schedule should be read in conjunction with the accompanying notes.
Accounting Policy Administered cash transfers to and from the Official Public Account Revenue collected by the entity for use by the Government rather than the entity is administered revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of Government. These transfers to and from the OPA are adjustments to the administered cash held by the entity on behalf of the Government and reported as such in the schedule of administered cash flows and in the administered reconciliation schedule. |
Administered cash flow statement for the period ended 30 June 2021
Notes | 2021 | 2020 | |
($) | ($) | ||
Operating activities | |||
Cash received | |||
Net GST received | 930,927 | 904,878 | |
Section 74 receipts | 2,224,968 | 3,170,770 | |
Other | 1,930,945 | 3,140,000 | |
Total cash received | 5,086,840 | 7,215,648 | |
Cash used | |||
Suppliers | (2,029,460) | (2,099,276) | |
Grants | (44,773,474) | (49,354,282) | |
Total cash used | (46,802,934) | (51,453,558) | |
Net cash used by operating activities | (41,716,094) | (44,237,910) | |
Cash from Official Public Account | |||
Appropriations | 43,868,422 | 47,241,322 | |
GST appropriation | 1,009,178 | 773,939 | |
Total cash from Official Public Account | 44,877,600 | 48,015,261 | |
Cash to Official Public Account | |||
Appropriations | (2,224,968) | (3,170,770) | |
Return of GST appropriations to the Official Public Account | (951,385) | (615,432) | |
Total cash to Official Public Account | (3,176,353) | (3,786,202) | |
Cash and cash equivalents at the beginning of the reporting period | 80,000 | 88,851 | |
Cash and cash equivalents at the end of the reporting period | 65,153 | 80,000 |
This schedule should be read in conjunction with the accompanying notes.
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