Statement of Financial Position as at 30 June 2017 Original Budget 2017 2016 2017 Notes $’000 $’000 $’000 ASSETS Financial Assets A, B Cash and cash equivalents 6,333 10,851 9,089 A Trade and other receivables 1,858 2,182 2,838 Total financial assets 8,191 13,033 11,927 Non-Financial Assets Property, and equipment 398 44 138 A Other non-financial assets 2.2B 530 391 207 Total non-financial assets 668 789 251 assets 8,859 13,822 12,178 LIABILITIES Payables A Suppliers 1,796 3,031 738 A, B Other payables 2.3B 1,773 5,827 7,565 Total payables 3,569 8,858 8,303 Provisions A Employee provisions 3.1 2,576 2,538 1,731 Other provisions - - 250 Total provisions 2,576 2,538 1,981 liabilities 6,145 11,396 10,284 Net assets 2,714 2,426 1,894 EQUITY Contributed equity 1,836 1,836 1,836 Reserves 5 5 5 C Retained surplus 585 53 873 Total equity 2,714 2,426 1,894 The statement should be read in conjunction with the accompanying notes. Original Budget Compared to 2017 Actual Variance Commentary Statement of Financial Position A The budget reflects projects contracted at the time of preparing the PBS. The variance is due to the increase in actual activity compared to when the PBS was prepared. B The variance arises due to the completion in 2016-17 of project work for which funding was received in advance. The completion of projects in 2016-17 has reduced the balance of cash and unearned income. C The 2016-17 budget was derived on a break even assumption and an estimated carried forward surplus at the time of budget preparation.
Statement of Financial Position as at 30 June 2017 2017 2016 Original Budget 2017 Notes $’000 $’000 $’000 ASSETS Financial Assets Cash and cash equivalents 6,333 10,851 9,089 A, B Trade and other receivables 1,858 2,182 2,838 A Total financial assets 8,191 13,033 11,927 Non-Financial Assets Property, and equipment 138 398 44 Other non-financial assets 2.2B 530 391 207 A Total non-financial assets 668 789 251 assets 8,859 13,822 12,178 LIABILITIES Payables Suppliers 1,796 3,031 738 A Other payables 2.3B 1,773 5,827 7,565 A, B Total payables 3,569 8,858 8,303 Provisions Employee provisions 3.1 2,576 2,538 1,731 A Other provisions - - 250 Total provisions 2,576 2,538 1,981 liabilities 6,145 11,396 10,284 Net assets 2,714 2,426 1,894 EQUITY Contributed equity 1,836 1,836 1,836 Reserves 5 5 5 Retained surplus 873 585 53 C Total equity 2,714 2,426 1,894 The statement should be read in conjunction with the accompanying notes. Original Budget Compared to 2017 Actual Variance Commentary Statement of Financial Position A The budget reflects projects contracted at the time of preparing the PBS. The variance is due to the increase in actual activity compared to when the PBS was prepared. B The variance arises due to the completion in 2016-17 of project work for which funding was received in advance. The completion of projects in 2016-17 has reduced the balance of cash and unearned income. C The 2016-17 budget was derived on a break even assumption and an estimated carried forward surplus at the time of budget preparation.
Annual-Report-2016-2017_Accessible.docx