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Statement of Financial Position

as at 30 June 2020

2020

2019

Original Budget

Notes

$

$

$

ASSETS

Financial assets

Cash and cash equivalents

5A

249,615

264,029

180,000

Trade and other receivables (a)

5B

2,190,428

988,713

782,000

Total financial assets

2,440,043

1,252,742

962,000

Non-financial assets

Leasehold improvements

6

187,529

252,716

231,000

Buildings (b)

6

1,067,004

-

-

Plant and equipment

6

220,520

116,896

74,000

Intangibles (c )

6

2,109,771

143,090

3,141,000

Other non-financial assets - prepayments

21,288

41,709

5,000

Total non-financial assets

3,606,112

554,411

3,451,000

Total assets

6,046,155

1,807,153

4,413,000

LIABILITIES

Payables

Suppliers

7A

53,277

274,119

89,000

Other payables

7B

1,155,609

76,134

44,000

Total payables

1,208,886

350,253

133,000

Provisions

Employee provisions

8A

838,974

605,219

600,000

Provision for restoration obligation

8B

193,939

193,939

189,000

Total provisions

1,032,913

799,158

789,000

Total liabilities

2,241,799

1,149,411

922,000

Net assets

3,804,356

657,742

3,491,000

EQUITY

Contributed equity (d)

7,555,000

4,500,000

7,555,000

Reserves

30,377

35,575

.

Accumulated deficit

(3,781,021)

(3,877,833)

(4,064,000)

Total equity

3,804,356

657,742

3,491,000

Budget variances

Variances are considered to be 'major' when the difference is greater than 10% or more than $50,000 or a lesser amount if pertinent to the understanding of the financial statements.

a) Trade and other receivables - comprised mainly of unspent appropriations.

b) Right-of- use asset (AASB 16) $1,067,004 are included in Buildings.

c) Intangibles - software development was less than originally planned.

d) Departmental capital budget $197,000. Additional funding of $2,858,000 received through the measure Women's Economic Security Package.

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