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2005 Annual Report
FINANCIAL STATEMENTS
STATEMENT OF FINANCIAL PERFORMANCE
for the year ended 30 June 2005
2005 Budget $ |
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Note |
2005 Actual $ |
2004 Actual $ |
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REVENUE | |
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| 5,240,000 | |
Government grant | |
5,240,889 | 4,550,540 | ||
| 40,000 | |
Interest | |
79,370 | 57,564 | ||
| 340,000 | |
Application fees and costs recoverable | |
267,970 | 453,407 | ||
| - | |
Recovery of litigation and court costs | |
– | 25,286 | ||
| 882,000 | |
Administrative services to the Takeovers Panel | 2 | 888,621 | 836,639 | ||
| - | |
Profit on disposal of fixed assets | 7,658 | 84,174 | |||
| - | |
Allocation of receipt for use of assets | 3 | – | 25,177 | ||
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| 6,502,000 | |
Total operating income | |
6,484,508 | 6,032,787 | ||
| 800,000 | |
Government grant - litigation fund | 5 | 1,692,368 | 218,510 | ||
| 40,000 | |
Government grant - litigation interest | 5 | 29,636 | 43,296 | ||
| - | Miscellaneous income | 5 | 2,136 | - | |||
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| 7,342,000 | |
Total revenue | |
8,208,648 | 6,294,593 | ||
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EXPENDITURE | |
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| 7,000 | |
Auditors - fees | |
12,000 | 6,000 | ||
| - | |
Auditors - fees for other services | |
1,200 | 10,260 | ||
| - | Bad debts | 3,797 | 785 | ||||
| 60,000 | |
Communication charges | |
50,163 | 44,400 | ||
| Depreciation | |||||||
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- office equipment | |
182,593 | 194,849 | |||
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- office furniture | |
64,602 | 24,472 | |||
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- leasehold improvements | |
133,436 | 73,489 | |||
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- motor vehicle | |
12,800 | 12,800 | |||
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- library | |
17,253 | 25,977 | |||
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| 416,673 | |
Total depreciation | |
410,684 | 331,587 | ||
| 9,000 | |
Fringe benefit tax | |
5,519 | 8,324 | ||
| - | |
Litigation | |
1,850 | 20,850 | ||
| 349,000 | |
Members' fees | 6 | 313,835 | 321,811 | ||
| 301,000 | |
Printing and stationery | |
321,953 | 287,547 | ||
| 517,000 | |
Professional services | |
566,536 | 967,169 | ||
| 502,008 | |
Rent | |
500,858 | 336,129 | ||
| 3,519,418 | |
Staff and recruitment | 6 & 7 | 3,298,352 | 2,854,857 | ||
| 568,140 | |
Services and supplies | |
603,531 | 532,497 | ||
| 40,000 | |
Superannuation contribution withholding tax | |
39,346 | 35,652 | ||
| 310,000 | |
Travel and accommodation | |
333,172 | 294,668 | ||
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| 6,599,239 | |
Total operating expenditure | |
6,462,796 | 6,052,536 | ||
| 840,000 | Expenditure on litigation fund matters | 5 | 1,724,140 | 289,929 | |||
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| 7,439,239 | Total expenditure | 8,186,936 | 6,342,465 | ||||
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| $(97,239) | |
Surplus (deficit) | 8 | $21,712 | $(47,872) | ||
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COMPRISING | |
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| (97,239) | |
Operating surplus (deficit) | |
21,712 | (19,749) | ||
| - | |
Litigation fund | |
- | (28,123) | ||
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| $(97,239) | |
$21,712 | $(47,872) | ||||
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The accompanying Notes form part of these Financial Statements.
STATEMENT OF MOVEMENTS IN EQUITY
for the year ended 30 June 2005
2005 Budget $ |
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Note |
2005 Actual $ |
2004 Actual $ |
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| (97,239) | |
Surplus (deficit) for year | |
21,712 | (47,872) |
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| (97,239) | |
Total recognised revenues and expenses for year | 21,712 | (47,872) | |
| 3,121,539 | |
Equity at start of period | |
3,121,539 | 1,772,777 |
| - | |
Capital contribution | |
- | 1,439,800 |
| - | Increase (decrease) in revaluation reserve | 10 | - | (43,166) | |
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| $3,024,300 | |
Equity at end of period | |
$3,143,251 | $3,121,539 |
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The accompanying Notes form part of these Financial Statements.
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