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Cash Flow Statement

Cashflow Statement for the period ended 30 June 2020

Cash Flow

Notes

2020

$'000

2019

$'000

Budget

$'000

OPERATING ACTIVITIES

Cash received

Receipts from Government

47,682

18,080

29,737

Industry levies

3,522

5,265

0

External contributions

11,918

10,773

0

Sale of goods and rendering of services

0

10

0

Net GST received

2,038

1,558

0

Interest

419

612

563

Other

999

405

9,070

Total cash received

66,578

36,703

39,370

Cash used

Research projects

27,599

22,614

27,748

Employees

3,081

2,922

3,339

Suppliers

8,668

7,667

7,253

Interest Payment on Lease Liabilities

15

0

0

Total cash used

39,363

33,203

38,340

Net cash from operating activities

27,215

3,500

1,030

INVESTING ACTIVITIES

Purchase of property, plant and equipment

88

62

675

Investments

26,930

3,000

0

Total cash used

27,018

3,062

675

Net cash from/(used) by investing activities

-27,018

-3,062

-675

FINANCING ACTIVITIES

Cash used

Principal payments of lease liabilities

-109

0

0

Total cash used

-109

0

0

Net cash from/(used) by financing activities

-109

0

0

Net increase in cash held

88

438

355

Cash and cash equivalents at the beginning of the reporting period

4,718

4,280

1,952

Cash and cash equivalents at the end of the reporting period

2.1A2.1A

4,806

4,718

2,307

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

Budget Variances Commentary Cash Flow Statement

Cash received
Total cash received of $66.5m was $27.2m over budget due to additional income received as reported in the Statement of Comprehensive Income. Industry levies and external contributions are over budget by $15.4m and Other under budget by $8m due to reclassifications from the PBS.

Cash used
Total cash used of $66.4m was $27.3m over budget, primarily due to investment in additional term deposits of $26.9m.