Cash Flow Statement
for the period ended 30 June 2019
|
Notes |
2019 |
2018 |
Original Budget1 |
|
|---|---|---|---|---|
|
$'000 |
$'000 |
$'000 |
||
|
OPERATING ACTIVITIES |
||||
|
Cash received |
||||
|
Appropriations |
16,855 |
14,976 |
16,795 |
|
|
Rendering of services |
317 |
358 |
263 |
|
|
GST received |
687 |
708 |
313 |
|
|
Other |
204 |
- |
51 |
|
|
Total Cash Received |
18,063 |
16,042 |
17,422 |
|
|
Cash used |
||||
|
Employees |
7,639 |
6,689 |
10,239 |
|
|
Suppliers |
8,967 |
8,186 |
6,599 |
|
|
GST paid |
1 |
- |
283 |
|
|
Other - section 74 receipts transferred to OPA |
1,360 |
1,174 |
396 |
|
|
Total cash Used |
17,967 |
16,049 |
17,517 |
|
|
Net cash from/(used by) operating activities |
96 |
(7) |
(95) |
|
|
INVESTING ACTIVITIES |
||||
|
Cash used |
||||
|
Purchase of plant and equipment and intangibles |
378 |
863 |
1,551 |
|
|
Total cash Used |
378 |
863 |
1,551 |
|
|
Net cash (used by) investing activities |
(378) |
(863) |
(1,551) |
|
|
FINANCING ACTIVITIES |
||||
|
Cash received |
||||
|
Other - contributed equity |
411 |
918 |
1,646 |
|
|
Total cash Received |
411 |
918 |
1,646 |
|
|
Net cash from financing activities |
411 |
918 |
1,646 |
|
|
Net increase in cash held |
129 |
48 |
- |
|
|
Cash and cash equivalents at the beginning of the reporting period |
160 |
112 |
112 |
|
|
Cash and cash equivalents at the end of the reporting period |
289 |
160 |
112 |
The above statement should be read in conjunction with the accompanying notes.
1Original Budget reflects the figures in the 2018-19 Portfolio Budget Statements (PBS).
Budget Variances Commentary
Cash Flow Statement
|
Affected line items |
Explanations of major variances |
|---|---|
|
Operating activities GST received |
GST received is higher than budget due to increase in supplier expenses, which has resulted in TEQSA paying more GST during the financial year. |
|
Operating activities Other (cash received) |
Cash received is higher than budget due to ticket sales for the TEQSA 2019 conference which was not captured in the original budget. Other miscellaneous cash receipts received during the year include: 2018 TEQSA conference recoveries and per diem fees received for TEQSA staff speaking at external conferences. |
|
Operating activities Employees |
Cash used for employees is lower than budget due to the timing of recruitment. This is reflected in the lower than expected employee benefits expense for the financial year. |
|
Operating activities Suppliers |
Cash paid to suppliers has exceed budget due to the higher than anticipated utilisation of contractors, experts and IT related expenditure. This is reflected in the increase in supplier expenses for the financial year. |
|
Operating activities GST paid |
GST paid is lower than budget as TEQSA does not charge GST on rental income as the leasee is a related entity. Majority of TEQSA's miscellaneous receipts do not attract GST. |
|
Operating activities Other - section 74 receipts transferred to OPA |
Section 74 receipts is higher than budget due to increase in miscellaneous receipts during the year. |
|
Investing activities Purchase of property, plant and equipment and intangibles |
Cash used for asset purchases was lower than budget due to the timing of acquisitions and project phases for intangible assets. Capital expenditure associated with the additional accommodation was not required. |
|
Financing activities Other - contributed equity |
Cash received is lower than budget due to the timing of acquisitions, project phases and payments for intangible assets. |
Visit
https://www.transparency.gov.au/annual-reports/tertiary-education-quality-and-standards-agency/reporting-year/2018-2019-31