for the period ended 30 June 2018
| Notes | 2018 $'000 |
2017 $'000 |
Original Budget $'000 |
|
|---|---|---|---|---|
| NET COST OF SERVICES | ||||
| Expenses | ||||
| Employee benefits | 1.1A | 1,565 | 1,727 | 1,232 |
| Suppliers | 1.1B | 2,775 | 3,261 | 3,097 |
| Depreciation and amortisation | 2.2A | 39 | 20 | 35 |
| Total expenses | 4,379 | 5,008 | 4,364 | |
| OWN-SOURCE INCOME | ||||
| Own-source revenue | ||||
| Sale of Doods and Rendering of Services | 1.2A | 197 | 225 | 240 |
| Other revenue | 1.2B | 70 | 73 | 73 |
| Total own-source revenue | 267 | 298 | 313 | |
| Net (cost of)/contribution by services | (4,112) | (4,710) | (4,051) | |
| Revenue from Government | 1.2C | 4,016 | 4,603 | 4,016 |
| Surplus (Deficit) on containing operations | (96) | (107) | (35) | |
| Total comprehensive income (loss) | (96) | (107) | (35) | |
The above statement should be read in conjunction with the accompanying notes.
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 adjustments to ASEA budget allocation between Employee costs and Supplier costs to correctly align the budget for staff costs. The reallocation of funds between the categories was updated in the PBS, in the MYEFO round.
- Suppliers - the variance reflects the adjustments to ASEA budget allocation between Supplier costs and Employee costs, which effectively decreased supplier costs to align employee costs for the estimated staff numbers and their associated wages and benefits.
- Depreciation - increased due to an unexpected purchase of a multifunctional device, which was previously leased through the Department of Jobs and Small Business, purchase of 2 laptops, and 1 desktop in the current year.
- Rendering of services - Actual revenue raised from the industry registration and sponsorship of the ASEA organised annual Asbestos Safety conference was less than anticipated. The annual conference is budgeted for in a net fashion to expenses.
