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Statement of comprehensive income

WINE AUSTRALIA

STATEMENT OF COMPREHENSIVE INCOME

for the year ended 30 June 2020

Actuals

Actuals

Budget

2020

2019

2020

Notes

$

$

$

NET COST OF SERVICES

Expenses

Expenditure on research & development contracts

Expenditure on research and development contracts

1.1A

22,442,699

23,113,563

21,763,307

Employee benefits

1.1B

13,090,644

12,370,282

13,297,000

Suppliers

1.1C

16,885,639

20,981,701

21,314,994

Grants

1.1D

12,587,002

5,072,991

13,114,693

Depreciation and amortisation

1.1E

1,664,926

406,851

1,454,000

Finance costs

1.1

23,112

-

-

Write-down of assets - Bad debts written off

1.1

15,782

3,412

1,000

Net losses from foreign exchange - Non Speculative

1.1

79,127

136,964

-

Levy collection fees

1.1

823,581

891,694

931,006

Total expenses

67,612,512

62,977,458

71,876,000

LESS:

OWN-SOURCE INCOME

Own-source revenue

Industry contributions

1.2A

18,821,868

19,745,231

19,532,000

Sale of goods and rendering of services

1.2B

7,240,204

8,655,791

10,063,000

Rental income

1.2C

156,986

185,000

185,000

Research and development contributions

1.2D

960,822

1,169,187

-

Interest

1.2E

193,850

511,360

196,000

Other revenue

1.2F1.2F

430

5,872

-

Total own-source revenue

27,374,160

30,272,441

29,976,000

Net cost of services

(40,238,352)

(32,705,017)

(41,900,000)

Revenue from government

Australian Government matching contributions

1.2

13,502,994

14,117,512

13,500,000

Other grants from Government

1.2G

26,358,600

16,737,996

26,400,000

Total revenue from Government

39,861,594

30,855,508

39,900,000

(Deficit)/Surplus attributable to the Australian Government

(376,758)

(1,849,509)

(2,000,000)

Total comprehensive income attributable to the Australian Government

(376,758)

(1,849,509)

(2,000,000)

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

Commentary on budget variances has been included in Other information within the Notes.