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STATEMENT OF FINANCIAL PERFORMANCE

for the year ended 30 June 2004

2004 Budget $			Note	2004 Actual $	2003 Actual $
		REVENUE
4,678,155		Government grant		4,550,540	3,220,354
40,000		Interest		57,564	47,976
220,000		Application fees and costs recoverable		453,407	254,749
-		Recovery of litigation and court costs		25,286	42,556
911,400		Administrative services to the Takeovers Panel	2	836,639	793,554
-		Profit on disposal of fixed assets		84,174	3,897
15,000		Allocation of receipt for use of assets	3	25,177	35,557
5,864,555		Total operating income		6,032,787	4,398,643
-		Government grant - litigation fund	5	218,510	843,750
24,000		Government grant - litigation interest	5	43,296	28,123
5,888,555		Total revenue		6,294,593	5,270,516
		EXPENDITURE
6,000		Auditors - fees		6,000	6,000
1,000		Auditors - other services		10,260	-
-		Bad debts		785	-
55,000		Communication charges		44,400	40,307
		Depreciation
		- office equipment		194,849	80,073
		- office furniture		24,472	44,649
		- leasehold improvements		73,489	166,403
		- motor vehicle		12,800	12,800
		- library		25,977	22,880
255,000		Total depreciation		331,587	326,805
9,000		Fringe benefit tax		8,324	7,003
-		Litigation		20,850	42,716
328,000		Members' fees	6	321,811	273,866
296,000		Printing and stationery		287,547	245,215
1,081,650		Professional services		967,169	398,050
367,650		Rent		336,129	228,055
2,646,550		Staff and recruitment	6 & 7	2,854,857	2,218,906
451,000		Services and supplies		532,497	421,049
35,000		Superannuation contribution withholding tax		35,652	28,268
331,250		Travel and accommodation		294,668	157,760
5,863,100		Total operating expenditure		6,052,536	4,394,000
-		Expenditure on litigation fund matters	5	289,929	-
5,863,100		Total expenditure		6,342,465	4,394,000
$25,455		Surplus/(deficit)	8	$(47,872)	$876,516
		COMPRISING
1,455		Operating surplus/(deficit)		(19,749)	4,643
24,000		Litigation fund		(28,123)	871,873
$25,455				$(47,872)	$876,516

STATEMENT OF MOVEMENTS IN EQUITY

for the year ended 30 June 2004

2004 Budget $				2004 Actual $	2003 Actual $
25,455		Surplus (deficit) for year		(47,872)	876,516
25,455		Total recognised revenues and expenses for year		(47,872)	876,516
1,772,777		Equity at start of period		1,772,777	761,261
1,615,000		Capital contribution		1,439,800	135,000
-		Increase (decrease) in revaluation reserve	10	(43,166)	-
$3,413,232		Equity at end of period		$3,121,539	$1,772,777

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