Performance summary Actual results versus budget targets Financial targets Category Target (1) Actual Variance (2) Category Agreed limit Target (1) / Variance 2017/18 2017/18 $000 2017/18 actual (2) $000 $000 $000 $000 2017/18 $000 Total cost of services 27 118 24 952 (2166) (a) (expense limit) Agreed working cash 1339 1339 N/A limit (at Budget) Net cost of services 26 725 24 670 (2055) (a) Agreed working cash 1256 5642 4386 (a) Total equity 12 186 13 116 930 limit (at Actuals) Net (187) (1722) 1535 (b) increase/(decrease) in (1) As specified in the Budget Statements. cash held (2) Explanations for the variations between target and actual results are in Note 31 ‘Explanatory to the financial statements. statement’ Approved salary 17 882 16 690 (1192) (c) (a) The variation is mainly due to a reduction in expenditure such as salaries and wages, and supplies expense level and services.. (1) As specified in the Budget Statements. (2) Further explanations are in Note 31 'Explanatory statement' to the financial statements. (a) The variation is mainly due to a reduction in costs from implementing public sector reform initiatives, reduced number of external training courses delivered and a decrease in the notional cost of resources received free of charge. (b) The variation is mainly due to the return of surplus cash to the Consolidated Account as per the Cash Management Policy offset by a reduction in the cost of services. (c) The variation is mainly due to the effect of implementing public sector initiatives such as SES reduction, public sector wages policy and Voluntary Targeted Separation Scheme. Working cash targets
Performance summary Actual results versus budget targets Financial targets Category Target (1) 2017/18 $000 Actual 2017/18 $000 Variance (2) $000 Total cost of services (expense limit) 27 118 24 952 (2166) (a) Net cost of services 26 725 24 670 (2055) (a) Total equity 12 186 13 116 930 Net increase/(decrease) in cash held (187) (1722) 1535 (b) Approved salary expense level 17 882 16 690 (1192) (c) (1) As specified in the Budget Statements. (2) Further explanations are in Note 31 'Explanatory statement' to the financial statements. (a) The variation is mainly due to a reduction in costs from implementing public sector reform initiatives, reduced number of external training courses delivered and a decrease in the notional cost of resources received free of charge. (b) The variation is mainly due to the return of surplus cash to the Consolidated Account as per the Cash Management Policy offset by a reduction in the cost of services. (c) The variation is mainly due to the effect of implementing public sector initiatives such as SES reduction, public sector wages policy and Voluntary Targeted Separation Scheme. Working cash targets Category Agreed limit 2017/18 $000 Target (1) / actual (2) 2017/18 $000 Variance $000 Agreed working cash limit (at Budget) 1339 1339 N/A Agreed working cash limit (at Actuals) 1256 5642 4386 (a) (1) As specified in the Budget Statements. (2) Explanations for the variations between target and actual results are in Note 31 ‘Explanatory statement’ to the financial statements. (a) The variation is mainly due to a reduction in expenditure such as salaries and wages, and supplies and services..
psc_annual_report_2017-18.docx