for the period ended 30 June 2017
| Notes | 2017 $'000 |
2016 $'000 |
Original Budget $'000 |
|
|---|---|---|---|---|
| NET COST OF SERVICES | ||||
| Expenses | ||||
| Employee benefits | 1.1A | 1,727 | 1,482 | 1,244 |
| Suppliers | 1.1B | 3,261 | 2,140 | 3,359 |
| Grants | - | 25 | - | |
| Depreciation and amortisation | 2.2A | 20 | 1 | - |
| Total expenses | 5,008 | 3,649 | 4,603 | |
| OWN-SOURCE INCOME | ||||
| Own-source revenue | ||||
| Sale of Doods and Rendering of Services | 1.2A | 225 | 240 | - |
| Other revenue | 1.2B | 73 | 73 | - |
| Total own-source revenue | 298 | 313 | - | |
| Net (cost of)/contribution by services | (4,710) | (3,336) | (4,603) | |
| Revenue from Government | 1.2C | 4,603 | 3,264 | 4,603 |
| Surplus (Deficit) on containing operations | (71,932) | 132,712 | - | |
| Total comprehensive income (loss) | (71,932) | 132,712 | - | |
1. Detail of reclassification adjustments relating to items of other comprehensive income are disclosed in Note 1.3A
Budget Variances Commentary
Statement of Comprehensive Income for not-for-profit Reporting Entities
- Variances are considered to be 'major' when the difference is greater than 10% or more than $50,000 or a lesser amount if pertinent to the understanding of the financial statements.Employee benefits - the variance reflects the associated salary and on costs of ASL for the year being slightly higher than the budget of 12 ASL, and the cost of backfilling and replacing several employees who left the organisation.
- Suppliers - decreased as a result of the implemented efficiency strategy to reduce costs which included bringing some previous shared service activity to in house activity.
- Depreciation - current year depreciation not included in budget.
- Rendering of services - no isolated current year budget. The amount relates to the annual conference being budgeted for in a net fashion to expenses.
- Other revenue - auditors remuneration not included in budget.
