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Financial Statements 2018-19. Statement of Comprehensive Income

For the period ending 30 June 2019:

Wreck Bay Aboriginal Community Council

ABN: 62 564 797 956

Statement of Comprehensive Income

for the period ended 30 June 2019

Note

2019

2018

Budget \Variance

NET COST OF SERVICES

$

$

Expenses

Employee benefits

1.1A

2,370,637

2,210,008

Suppliers

1.1B

678,799

626,540

Occupancy expenses

1.1C

73,634

89,542

Community grants

1.1D

78,738

93,256

NO

(72,882)

Depreciation

2.2A

366,469

402,455

YES

(115,323)

Impairment loss allowance on financial instruments

1.1E

5,424

5,247

YES

(19,206)

Write-down and impairment of assets

1.1F

-

553

NO

738

Other expenses

1.1G

634,611

703,104

YES

(133,331)

Total expenses

4,208,312

4,130,705

NO

5,424

NO

0

Own-Source Income

NO

75,459

(2)

(259,121)

Own-source revenue

Rendering of services

1.2A

2,151,456

2,021,751

Interest

1.2B

30,533

30,191

Gains

1.2C

2,273

17,640

Total own-source revenue

2,184,262

2,069,582

YES

2,115,886

Revenue from Government

1.2D

1,954,547

1,986,417

YES

30,533

Total revenue

4,138,809

4,055,999

Net (cost of)/ contribution by services

(69,503)

(74,706)

Surplus/(deficit) before income tax on continuing operations

(69,503)

(74,706)

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

2

Land Contribution from Government

1.2E

300,000

-

Changes in asset revaluation reserve

1,047,325

(4,481,796)

Total other comprehensive income

1,347,325

(4,481,796)

Total Comprehensive income/(Loss)

1,277,822

(4,556,502)

YES

1,047,325

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