16.10.2012
Financial outcomes
Operating outcome
The 2011–12 financial statements show an operating surplus of $0.183m. The surplus is due to a number of factors including: the ALRC negotiated a final makegood expense, representing half the amount that had been provided for originally; the ALRC earnt revenue from the sale of assets, no longer needed when the ALRC moved premises; and the provision for long service leave for 2011–12.
Operating revenue
The ALRC’s operating revenue of $3.143m comprised revenue from government of $2.927m, revenue from sale of goods (publications) of $0.006m, and other revenue of $0.170m from AGD for Commissioner Terry Flew, $0.022m as a resource free of charge from the ANAO for the audit, and $0.018m from the sale of assets.
Operating expenses
Total operating expenses of $2.959m were $1.369m less than in 2010–11. This decrease is due to the increased expenditure in 2010–11 due to the onerous contract.
The ALRC’s depreciation and amortisation expenses decreased by $0.139m. This decrease represents the write-off of the ALRC library.
Equity
The ALRC’s total equity increased by $0.249m. This includes contributed equity of $0.070m. The increase is due to the ALRC no longer carrying a provision for makegood, and a substantial decrease in liabilities for the lease on 135 King St. Sydney.
Total assets
The ALRC’s total assets decreased by $0.361m. This decrease represents the payment of the onerous contract.
Total liabilities
The ALRC’s total liabilities decreased by $0.610m. This decrease is due to the makegood provision having been paid out and the substantial decrease in liabilities for the lease on 135 King St. Sydney.