Publications: 1998 Annual Report | Securities Commission

We are funded by appropriation of money by Parliament and we are responsible for the allocation of the money. We set our priorities with care and review them constantly to ensure that the available money is used to best advantage.

The financial statements of the Commission for the year 1 July 1997 to 30 June 1998 including the statement of service performance now follow.

Statement of Responsibility

We acknowledge responsibility for the preparation of these financial statements and for the judgements used herein.

We acknowledge responsibility for establishing and maintaining a system of internal control designed to provide reasonable assurance as to the integrity and reliability of the Commission's financial reporting.

In our opinion these annual financial statements fairly reflect the financial position and operations of the Securities Commission for the year ended 30 June 1998.

Statement of Financial Performance
For the year ended 30 June 1998
1998 Budget $		Note	1998 Actual $	1997 Actual $
	Income
2,111,000	Government Grant		2,111,111	1,866,667
43,000	Interest		50,705	52,519
100,000	Miscellaneous		147,426	180,929
-	Recovery of Court Costs		-	6,255
2,254,000	Total Income		2,309,242	2,106,370

	Expenditure
6,000	Auditors - Fees		6,000	6,000
-	Auditors - Other Services		300	3,000
30,000	Communication Charges		25,071	22,483
88,000	Depreciation		84,239	76,473
5,000	Litigation		19,400	-
165,000	Members' Fees	2	123,612	122,749
190,000	Printing & Stationery		237,330	177,162
134,000	Professional Services		128,362	119,518
223,000	Rent		205,680	197,398
1,277,000	Salaries & Superannuation Subsidies	2 & 3	1,179,508	1,227,722
155,000	Services & Supplies		114,327	123,488
	Superannuation Contribution
49,000	Withholding Tax		44,563	44,505
125,000	Travel & Accommodation		77,515	99,758
2,447,000	Total Expenditure		2,245,907	2,220,256
$(193,000)	Surplus/ (Deficit)	4	$63,335	$(113,886)
The accompanying Notes form part of these Financial Statements.

Annual Report 30 June 1998

Financial Statements

Statement of Responsibility

Statement of Financial Performance