18.10.2010

Financial Statements

Statement of Comprehensive Income

For the period ended 30 June 2010

  Notes 2010
$		 2009
$
EXPENSES
Employee benefits 3A 2,374,022 2,329,838
Supplier expenses 3B 1,129,322 1,023,404
Depreciation and amortisation 3C 72,896 41,982
Finance costs 3D 4,842 4,842
Write-down and impairment of assets 3E – 32,646
Total expenses   3,581,082 3,432,712
LESS OWN-SOURCE INCOME
Own-source revenue      
Sale of goods and rendering of services 4A 4,616 30,237
Interest 4B 58,229 85,131
Other revenue 4C 285 13,445
Total own-source revenue   63,130 128,813
GAINS
Sale of assets 4D – 1,364
Total gains   – 1,364
Total own-source income   63,130 130,177
Net cost of services   3,517,952 3,302,535
Revenue from Government 4E 3,387,000 3,360,000
Surplus (Deficit) before income tax on continuing operations   (130,952) 57,465
Surplus (Deficit) attributable to the Australian Government   (130,952) 57,465
OTHER COMPREHENSIVE INCOME
Changes in asset revaluation reserves   324,295 –
Total comprehensive income   193,343 –
Total comprehensive income attributable to the Australian Government 193,343 –

Balance Sheet for Not-For-Profit Reporting Entities

as at 30 June 2010

  Notes 2010
$		 2009
$
ASSETS
Financial Assets
Cash and cash equivalents 5A,14A,14D 1,271,808 1,638,943
Trade and other receivables 5B,14A,14D 23,340 16,982
Total financial assets   1,295,148 1,655,925
Non-Financial Assets
Land and buildings 6A 202,183 20,485
Infrastructure, plant & equipment 6B,6C 319,380 205,359
Other 6D 100,107 73,519
Total non-financial assets   621,670 299,363
TOTAL ASSETS   1,916,818 1,955,288
LIABILITIES
Payables
Suppliers 7A 41,547 54,543
Other  7B 105 169
Total payables   41,652 54,712
Provisions 
Employee provisions 8A 411,336 639,377
Other 8B 105,000 95,712
Total provisions   516,336 735,089
TOTAL LIABILITIES   557,988 789,801
NET ASSETS   1,358,830 1,165,487
EQUITY
Parent Entity Interest
Reserves   385,759 61,464
Retained surplus (accumulated deficit)   973,071 1,104,023
Total parent entity interest   1,358,830 1,165,487
TOTAL EQUITY   1,358,830 1,165,487

Cash Flow Statement for Not-For-Profit Reporting Entities

Operating Activities Notes 2010
$		 2009
$
Cash received      
Receipts from Government   3,387,000 3,360,000
Goods and services   4,616 30,237
Interest   58,229 85,131
Other   31,467 14,809
Net GST received   18,161 13,088
Total cash received   3,499,473 3,503,265
Cash Used      
Employees   (2,665,133) (2,359,099)
Suppliers   (1,161,601) (1,060,687)
Total cash used   (3,826,734) (3,419,786)
Net cash from (used by) operating activities 9 (327,261) 83,479
INVESTING ACTIVITIES
Cash used
Purchase of property, plant and equipment   (39,874) (33,650)
Total cash used   (39,874) (33,650)
Net cash used by investing activities   (39,874) (33,650)
Net increase/(decrease) in cash held   (367,135) 49,829
Cash and cash equivalents at the beginning of the reporting period   1,638,943 1,589,114
Cash and cash equivalents at the end of the reporting period 5A 1,271,808 1,638,943
Investing Activities Notes 2010
$		 2009
$
Cash used
Purchase of property, plant and equipment   (39,874) (33,650)
Total cash used   (39,874) (33,650)
 
Net cash used by investing activities   (39,874) (33,650)
 
Net increase/(decrease) in cash held   (367,135) 49,829
Cash and cash equivalents at the beginning of the reporting period   1,638,943 1,589,114
Cash and cash equivalents at the end of the reporting period 5A 1,271,808 1,638,943

Statement of Changes in Equity for Not-For-Profit Reporting Entities

for the period ended 30 June 2010

  Retained Earnings Asset Revaluation Reserve  Total Equity
  2010
$		 2009
$		 2010
$		 2009
$		 2010
$		 2009
$
Opening balance       
Balance carried forward from previous period         1,104,023         1,041,386              61,464              61,464         1,165,487         1,102,850
Adjustment for error – 5,172  –   –  –                5,172
Adjusted opening balance 1,104,023 1,046,558 61,464  –   1,165,487  1,108,022
Comprehensive income      
Other comprehensive income  –   –             324,295  –             324,295  – 
Surplus for the period (130,952)              57,465  –   –  (130,952)              57,465
Total comprehensive income (130,952)  57,465  324,295  –   193,343  57,465
of which is attributable to the Australian Government (130,952) 57,465 324,295  –  193,343 57,465
Closing balance as at 30 June 973,071  1,104,023 385,759 61,464 1,358,830 1,165,487
Closing balance attributable to the Australian Government 973,071 1,104,023 385,759 61,464 1,358,830 1,165,487

Schedule of Asset Additions for Not-For Profit Reporting Entities

for the period ended 30 June 2010

The following non-financial non-current assets were added in 2009-10:  
  Other property, plant &  equipment
$’000		 Total
$’000
By purchase- Government funding 39,874 39,874
By purchase- donated funds  –   – 
Total Additions 39,874 39,874

Schedule of Commitments for Not-For-Profit Reporting Entities

as at 30 June 2010

By Type 2010
$		 2009
$
Commitments receivable
GST recoverable on commitments 147,225 209,774
Total commitments receivable 147,225 209,774
Other commitments
Operating leases 1 1,619,471 2,307,514
Total other commitments 1,619,471 2,307,514
Net commitments by type 1,472,246 2,097,740
By Maturity 2010
$		 2009
$
Operating lease commitments    
One year or less 700,626 678,329
From one to five years 918,845 1,629,185
Over five years – –
Total operating lease commitments 1,619,471 2,307,514
Net Commitments by maturity (147,225) (209,774)
Net Commitments by maturity 1,472,246 2,097,740

NB:  Commitments are GST inclusive where relevant.

Nature of lease/general description of leasing arrangement

1. Operating leases included are effectively non-cancellable and comprise:

Leases for office accommodation.
Lease payments are subject to annual increases in accordance with upwards movements in the Consumer Price Index. The Commission has entered into a 10 year lease agreement (through until 30 September 2012). Lease payments are subject to an annual increase of approximately 4%.

Schedule of Contingencies for Not-For-Profit Reporting Entities

as at 30 June 2010

There are no known contingencies as at 30 June 2010.

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