Financial statements

In this section

Certification of financial statements

for the year ended 30 June 2017

The accompanying financial statements of the Public Sector Commission have been prepared in compliance with the provisions of the Financial Management Act 2006 from proper accounts and records to present fairly the financial transactions for the financial year ended 30 June 2016 and the financial position as at 30 June 2017.

At the date of signing we are not aware of any circumstances which would render the particulars included in the financial statements misleading or inaccurate.

M C Wauchope AO
ACCOUNTABLE AUTHORITY
9 August 2017

T Williams
CHIEF FINANCE OFFICER
9 August 2017

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Auditor General's report

Note: The Auditor General's report letter can be found in the PDF version. To request this letter in an alternative format, please contact the Public Sector Commission.

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Statement of comprehensive income

for the year ended 30 June 2017

  Note 2017
$000
2016
$000

COST OF SERVICES

Expenses

Employee benefits expense

6

18 607

17 745

Supplies and services

8

4263

4469

Depreciation and amortisation expense

9

60

204

Accommodation expenses

10

2401

2181

Grants and subsidies

11

890

1032

Other expenses

12

64

78

Total cost of services

 

26 285

25 709

Income

Revenue

User charges and fees

14

137

155

Other revenue

15

331

227

Total revenue

 

468

382

Total income other than income from State Government

 

468

382

NET COST OF SERVICES

 

25 817

25 327

INCOME FROM STATE GOVERNMENT

Service appropriation

 

26 636

27 478

Services received free of charge

 

1244

1093

Royalties for Regions Fund

 

35

26

Total income from State Government

16

27 915

28 597

SURPLUS/(DEFICIT) FOR THE PERIOD

 

2098

3270

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

 

2098

3270

See also the 'Schedule of income and expenses by service'. The 'Statement of comprehensive income' should be read in conjunction with the accompanying notes.

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Statement of financial position

as at 30 June 2017

  Note 2017
$000
2016
$000

ASSETS

Current assets

Cash and cash equivalents

28

12 710

10 191

Restricted cash and cash equivalents

17

-

-

Receivables

18

831

812

Amounts receivable for services

19

138

173

Other current assets

20

381

422

Total current assets

 

14 060

11 598

Non-current assets

 

 

 

 

Restricted ​​cash and cash equivalents

17 62  

Amounts receivable fo​​r services

19 6890 6813

Property, plant and equipment

21

205

224

Intangible assets

22

-

-

Other non-current assets

20

58

104

Total non-current assets

 

7215

7141

TOTAL ASSETS

 

21 275

18 739

LIABILITIES

Current liabilities

Payables

24

1293

836

Provisions

25

4613

4432

Other current liabilities

26

50

73

Total current liabilities

 

5956

5341

Non-current liabilities

Provisions

25

740

916

Total non-current liabilities

 

740

916

TOTAL LIABILITIES

 

6696

6257

NET ASSETS

 

14 579

12 482

EQUITY

Accumulated surplus/(deficit)

27

14 579

12 482

TOTAL EQUITY

 

14 579

12 482

See also the 'Schedule of assets and liabilities by service'. The 'Statement of financial position' should be read in conjunction with the accompanying notes.

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Statement of changes in equity

for the year ended 30 June 2017

  Note Contributed
equity
$000
Accumulated
surplus/
(deficit)
$000
Total
equity
$000

Balance as at 1 July 2015

 

-

9311

9311

Surplus/(deficit)

 

-

3270

3270

Total comprehensive income for the period

 

-

12 581

12 581

Transactions with owners in their capacity as owners:

       

Capital appropriations

 

-

-

-

Distribution to owners

 

(100)

-

(100)

Transfer of contributed equity to Accumulated Surplus

 

100

(100)

-

Balance as at 30 June 2016

27

-

12 481

12 481

Balance as at 1 July 2016

 

-

12 481

12 481

Surplus/(deficit)

 

-

2098

2098

Other comprehensive income

 

-

-

-

Total comprehensive income for the period

 

-

14 579

14 579

Transactions with owners in their capacity as owners:        

Capital appropriations​​

  - - -

Distribution to owners

 

-

-

-

Transfer of contributed equity to Accumulated Surplus

 

-

-

-

Balance as at 30 June 2017

27

-

14 579

14 579

The 'Statement of changes in equity' should be read in conjunction with the accompanying notes.

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Statement of cash flows

for the year ended 30 June 2017

  Note 2017
$000
2016
$000

CASH FLOWS FROM STATE GOVERNMENT

Service appropriation

 

26 421

27 119

Holding account drawdowns

 

173

173

Non-retained revenue distributed to owner

 

-

(100)

Royalties for Regions Fund

 

35

26

Net cash provided by State Government

 

26 629

27 218

Utilised as follows

CASH FLOWS FROM OPERATING ACTIVITIES

Payments

Employee benefits

 

(18 653)

(17 956)

Supplies and services

 

(3350)

(3709)

Accommodation

 

(2048)

(2181)

Grants and subsidies

 

(895)

(926)

GST payments on purchases

 

(615)

(595)

GST payments to taxation authority

 

(66)

(45)

Receipts

User charges and fees

 

110

167

GST receipts on sales

 

53

34

GST receipts from taxation authority

 

1128

560

Other receipts

 

331

214

Net cash provided by/(used in) operating activities

26

(24 005)

(24 437)

CASH FLOWS FROM INVESTING ACTIVITIES

Payments

Purchase of non-current assets

 

(43)

(68)

Net cash provided by/(used in) investing activities

 

(43)

(68)

Net increase/(decrease) in cash and cash equivalents

 

2581

2713

Cash and cash equivalents at the beginning of period

 

10 191

7478

CASH AND CASH EQUIVALENTS AT THE END OF PERIOD

26

12 772

10 191

The 'Statement of cash flows' should be read in conjunction with the accompanying notes.

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Summary of consolidated account appropriations and income estimates

for the year ended 30 June 2017

  2017
Estimate
$000
2017
Actual
$000
Variance
$000
2017
Actual
$000
2016
Actual
$000
Variance
$000

DELIVERY OF SERVICES

Item 7 - Net amount appropriated to deliver services

25 730

25730

-

25730

26 328

(598)

Amount authorised by Other Statutes
- Salaries and Allowances Act 1975

906

906

-

906

1150

(244)

Total appropriations provided to deliver services

26 636

26 636

-

26636

27 478

(842)

Details of Expenses by Service

Service 1 - Public sector leadership

8445

5957

2488

5957

7147

(1200)

Service 2 - Assistance and support

10 370

9538

832

9538

9891

(353)

Service 3 - Oversight and reporting

10 024

10 790

(766)

10 790

8661

2129

Total cost of services

28 839

26 285

2554

26 285

25 709

576

Lesstotal Income(a)

(393)

(468)

75

(468)

(382)

(86)

Net Cost of Services

28 446

25 817

2629

25 817

25 327

490

Adjustments

(1810)

819

(2629)

819

2151

(1332)

Total appropriations provided to deliver services

26 636

36  636

-

26 636

27 478

(842)

Capital expenditure

Purchase of non-current assets

173

150

-

150

68

82

Adjustments for other funding sources

(173)

(150)

-

(150)

(68)

(82)
Capital appropriations - - - - - -

Adjustments comprise movements in cash balances and other accrual items such as receivables, payables and superannuation. Note 32 ‘Explanatory statement’ provides details of any significant variations between estimates for 2017 and actual results for 2017 and between the actual results for 2017 and 2016.

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Schedule of income and expenses by service

for the year ended 30 June 2017

 

Service 1
Public sector leadership

Service 2
Assistance and support

Service 3
Oversight and reporting

Total

 

2017
$000

2016
$000

2017
$000

2016
$000

2017
$000

2016
$000

2017
$000

2016
$000

COST OF SERVICES

Expenses

Employee benefits expense

3857

4751

7329

6541

7421

6453

18 607

17 745

Supplies and services

1067

1307

1123

1829

2073

1333

4263

4469

Depreciation and amortisation expense

16

57

13

68

31

79

60

204

Accommodation expenses

434

656

833

752

1134

773

2401

2181

Grants and subsidies

570

354

221

678

99

-

890

1032

Carrying amount of non-current assets disposed​​

3 - - - - - 3 -

Other expenses

10

32

19

23

32

23

61

78

Total cost of services

5957

7157

9538

9891

10 790

8661

26 285

25 709

Income

User charges and fees

135

154

1

1

1

-

137

155

Other revenue(a)

189

113

20

40

18

25

227

178

Total income other than income from State Government

348

343

53

21

67

18

468

382

NET COST OF SERVICES

5609

6814

9485

9870

10 723

8643

25 817

25 327

INCOME FROM STATE GOVERNMENT

Service appropriation

6021

8434

9007

9934

11 608

9110

26 636

27 478

Services received free of charge

218

220

429

423

597

450

1244

1093

Royalties for Regions Fund(a)

35

26

-

-

-

-

35

26

Total income from State Government

6274

8680

9436

10 357

12 205

9560

27 915

28 597

Surplus/(deficit) for the period

665

1866

(49)

487

1482

917

2098

3270

The ‘Schedule of income and expense by service’ should be read in conjunction with the accompanying notes.

(a) The 2016 actual has been recast to match current year’s reporting parameters.

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Schedule of assets and liabilities by service

as at 30 June 2017

  Service 1
Public sector leadership
Service 2
Assistance and support
Service 3
Oversight and reporting
Total
2017
$000
2016
$000
2017
$000
2016
$000
2017
$000
2016
$000
2017
$000
2016
$000

ASSETS

Current assets

2496

2855

4442

4531

7122

4212

14 060

11 598

Non-current assets

1184

1748

2196

2586

3835

2807

7215

7141

Total assets

3680

4603

6638

7117

10 957

7019

21 275

18 739

LIABILITIES

Current liabilities

940

1209

2652

2247

2364

1885

5956

5341

Non-current liabilities

168

282

309

287

263

347

740

916

Total liabilities

1108

1491

2961

2534

2627

2232

6696

6257

NET ASSETS

2572

3112

3677

4583

8330

4787

14 579

12 482

The ‘Schedule of assets and liabilities by service’ should be read in conjunction with the accompanying notes.

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Page last updated 14 September 2017