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Statement of Financial Position

as at 30 June 2019

2019

2018

Original Budget

Notes

$’000

$’000

$’000

ASSETS

Financial Assets

Cash and cash equivalents

436

337

428

Trade and other receivables

5A

177

157

126

Appropriation receivables

3B

33,704

31,735

29,871

Total financial assets

34,317

32,229

30,425

Non-Financial Assets

Leasehold improvements

4A

2,574

3,225

2,575

Plant and equipment

4A

898

1,027

1,074

Computer software

4A

222

89

79

Prepayments

577

751

541

Total non-financial assets

4,271

5,092

4,269

Total Assets

38,588

37,321

34,694

LIABILITIES

Payables

Suppliers

2B

233

344

229

Other payables

2C

1,402

1,608

1,406

Total payables

1,635

1,952

1,635

Provisions

Employee provisions

1B

11,372

10,695

11,888

Other provisions

2D

592

580

592

Total provisions

11,964

11,275

12,480

Total Liabilities

13,599

13,227

14,115

Net Assets

24,989

24,094

20,579

EQUITY

Contributed equity

8,456

7,630

8,456

Reserves

1,593

1,593

1,593

Retained surplus

14,940

14,871

10,530

Total Equity

24,989

24,094

20,579

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

Budget Variances Commentary

The main budget variance in respect of the financial position is a higher level of appropriation receivables (Revenue from Government) as a consequence of lower expenses and higher own source revenue in 2018-19 (refer to the commentary under the Statement of Comprehensive Income) and a higher than forecast opening balance.