FINANCE AT A The VEC’s financial position continues to fluctuate with increases in special appropriation, expenditure and equity. The call on large scale electoral services alternates biennially, influencing the VEC’s funding pattern. The VEC conducted the 2016 Local Government elections in October, and managed 17 additional events including four Local Government countbacks and 13 elections and polls. The VEC successfully delivered all electoral activities on schedule and within budget. FINANCIAL PERFORMANCE With 2016–17 being an electoral year, special appropriations and expenditure transactions increased considerably compared to the previous year. A summary of performance is outlined below showing the movement in special appropriation, expenses, balance sheet items and net cash flow. FIGURE 1: FIVE YEAR FINANCIAL SUMMARY 2012–13 TO 2016–17 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 ($,000) ($,000) ($,000) ($,000) ($,000) Electoral activity Government State Election Government Elections Elections Special 40,245 23,062 62,623 25,260 52,336 appropriation Total expenses 41,663 24,987 65,735 24,946 51,453 from transactions Net result from (1,418) (1,925) (3,112) 314 883 transactions Net result for the (1,411) (1,936) (3,142) 253 917 period Net cash flow 4 (1) - 18 (4) from/(used in) operating activities Total assets 10,471 11,520 9,953 11,730 12,746 liabilities 3,020 3,675 4,924 5,457 5,056 Net assets 7,451 7,845 5,029 6,273 7,690 FIGURE 2: SPECIAL APPROPRIATION ($,000) 2012–13 TO 2016–17
The VEC’s financial position continues to fluctuate with increases in special appropriation, expenditure and equity. The call on large scale electoral services alternates biennially, influencing the VEC’s funding pattern. The VEC conducted the 2016 Local Government elections in October, and managed 17 additional events including four Local Government countbacks and 13 elections and polls. The VEC successfully delivered all electoral activities on schedule and within budget. FINANCIAL PERFORMANCE With 2016–17 being an electoral year, special appropriations and expenditure transactions increased considerably compared to the previous year. A summary of performance is outlined below showing the movement in special appropriation, expenses, balance sheet items and net cash flow. FIGURE 1: FIVE YEAR FINANCIAL SUMMARY 2012–13 TO 2016–17 2012-2013 ($,000) 2013-2014 ($,000) 2014-2015 ($,000) 2015-2016 ($,000) 2016-2017 ($,000) Electoral activity Government Elections State Election Government Elections Special appropriation 40,245 23,062 62,623 25,260 52,336 Total expenses from transactions 41,663 24,987 65,735 24,946 51,453 Net result from transactions (1,418) (1,925) (3,112) 314 883 Net result for the period (1,411) (1,936) (3,142) 253 917 Net cash flow from/(used in) operating activities 4 (1) - 18 (4) Total assets 10,471 11,520 9,953 11,730 12,746 liabilities 3,020 3,675 4,924 5,457 5,056 Net assets 7,451 7,845 5,029 6,273 7,690 FIGURE 2: SPECIAL APPROPRIATION ($,000) 2012–13 TO 2016–17 FINANCE A AT
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