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Budget 2010-11

Equal Opportunity for Women in the Workplace Agency

Section 3: Explanatory tables and budgeted financial statements

3.2 Budgeted financial statements

3.2.1 Differences in agency resourcing and financial statements

EOWA has no differences in agency resourcing and financial statements.

3.2.2 Analysis of budgeted financial statements

EOWA's income statement shows a balanced budget for 2009-10. The deficit in the forward years is a result of the net cash arrangement whereby depreciation and amortisation costs are no longer funded through government appropriation.

Employee expenses continue to increase at 4 per cent, with a marginal increase in appropriations. The cost of administering the Act, which is labour intensive, takes up much of the budget.

All information technology equipment is outsourced under a memorandum of understanding with FaHCSIA. Depreciation and amortisation expense consists principally of the reporting system and the office fit-out.

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3.2.3 Budgeted financial statements tables


Table 3.2.1 comprehensive income statement (showing net cost of services)
(for the period ended 30 June)

 

 Estimated actual
2009-10
          $'000		 Budget estimate
2010-11
          $'000		 Forward estimate
2011-12
          $'000		 Forward estimate
2012-13
          $'000		 Forward estimate
2013-14
          $'000
EXPENSES          
Employee benefits 1,938 1,980 2,098 2,154 2,235
Supplier expenses 1,207 1,336 1,096 1,182 1,181
Grants          
Depreciation and amortisation 261 260 249 68 11
Other          
Total expenses 3,406 3,576 3,443 3,404 3,427
LESS:          
OWN-SOURCE INCOME          
Revenue          
Sale of goods and rendering of services 366 466 366 366 366
Other revenue - - - - -
Total revenue 366 466 366 366 366
Gains          
Sale of assets - - - - -
Other gains 48 100 44 44 44
Total gains 48 100 44 44 44
Total own-source income 414 566 410 410 410
Net cost of (contribution by) services 2,992 3,010 3,033 2,994 3,017
Revenue from Government 2,992 2,750 2,784 2,926 3,006
Surplus (Deficit) - (260) (249) (68) (11)
Surplus (Deficit) attributable to          
the Australian Government - (260) (249) (68) (11)
OTHER COMPREHENSIVE INCOME          
Changes in asset revaluation reserves - - - - -
Total other comprehensive income          
Total comprehensive income - (260) (249) (68) (11)
Total comprehensive income attributable to the Australian Government - (260) (249) (68) (11)
Note: Reconciliation of operating result attributable to the agency
  2009-10
          $'000		 2010-11
          $'000		 2011-12
          $'000		 2012-13
          $'000		 2012-13
          $'000
Operating result attributable to the Australian Government - (260) (249) (68) (11)
plus non-appropriated items depreciation, amortisation and make good expenses 261 260 249 68 11
Operating result attributable to the agency 261 - - - -

Prepared on Australian Accounting Standards basis.

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Table 3.2.2: Budgeted departmental balance sheet (as at 30 June)

 

 Estimated actual
2009-10
          $'000		 Budget estimate
2010-11
          $'000		 Forward estimate
2011-12
          $'000		 Forward estimate
2012-13
          $'000		 Forward estimate
2013-14
          $'000
ASSETS          
Financial assets          
Cash and equivalents 174 134 439 460 471
Trade and other receivables 1,659 1,652 1,300 1,232 1,221
Other 20 20 20 20 20
Total financial assets 1,853 1,806 1,759 1,712 1,712
Non-financial assets          
Land and buildings 273 273 273 308 398
Infrastructure, plant and equipment 6 6 4 2 2
Intangibles 306 298 303 501 652
Other 2 2 2 2 2
Total non-financial assets 587 579 582 813 1,054
Assets held for sale - - - - -
Total assets 2,440 2,385 2,341 2,525 2,766
LIABILITIES          
Payables          
Suppliers 82 82 82 82 82
Other 133 86 39 39 39
Total payables 215 168 121 121 121
Provisions          
Employees 232 232 232 232 232
Other 157 157 157 157 157
Total provisions 389 389 389 389 389
Liabilities included in disposal groups held for sale - - - - -
Total liabilities 604 557 510 510 510
Net assets 1,836 1,828 1,831 2,015 2,256
EQUITY*          
Parent entity interest          
Contributed equity 804 1,056 1,308 1,560 1,812
Reserves 40 40 40 40 40
Retained surpluses or accumulated deficits 992 732 483 415 404
Total parent entity interest 1,836 1,828 1,831 2,015 2,256
Total equity 1,836 1,828 1,831 2,015 2,256
Current assets 1,855 1,808 1,761 1,714 1,714
Non-current assets 585 577 580 811 1,052
Current liabilities 504 457 410 410 410
Non-current liabilities 100 100 100 100 100

* 'Equity' is the residual interest in assets after deduction of liabilities.

Prepared on Australian Accounting Standards basis.

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Table 3.2.3: Departmental statement of changes in equity-summary of movement (Budget year 2010-11)

 

 Retained earnings
          $'000		 Asset revaluation reserve
          $'000		 Other reserves
          $'000		 Contributed equity/capital
          $'000		 Total equity
          $'000
Opening balance as at 1 July 2010          
Balance carried forward from previous period Adjustment for changes inaccounting policies 992 40 - 804 1,836
Adjusted opening balance 992 40 - 804 1,836
Comprehensive income          
Comprehensive income recognised directly in equity:
Gain/loss on revaluation of property		 - - - - -
Sub-total comprehensive income - - - - -
Surplus (deficit) for the period (260) - - - (260)
Total comprehensive income
recognised directly in equity		 (260) - - - (260)
Transactions with owners          
Contribution by owners Appropriation (equity injection)
Appropriation (departmental capital budget)		 - - - 252 252
Other          
Sub-total transactions with owners - - - 252 252
Estimated closing balance
as at 30 June 2011		 732 40 - 1,056 1,828

Prepared on Australian Accounting Standards basis.

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Table 3.2.4: Budgeted departmental statement of cash flows (for the period ended 30 June)

 

 Estimated actual
2009-10
          $'000		 Budget estimate
2010-11
          $'000		 Forward estimate
2011-12
          $'000		 Forward estimate
2012-13
          $'000		 Forward estimate
2013-14
          $'000
OPERATING ACTIVITIES          
Cash received          
Goods and services 361 466 366 366 366
Appropriations 2,648 2,757 3,136 2,994 3,017
Other 30 100 44 44 -
Total cash received 3,039 3,323 3,546 3,404 3,383
Cash used          
Employees 1,449 1,980 2,098 2,154 2,235
Suppliers 897 1,336 1,096 1,229 1,137
Other (63) 47 47 - -
Total cash used 2,283 3,363 3,241 3,383 3,372
Net cash from or (used by)          
operating activities 756 (40) 305 21 11
INVESTING ACTIVITIES          
Cash used          
Purchase of property, plant and equipment - 252 252 252 252
Total cash used - (252) (252) (252) (252)
Net cash from or (used by)
investing activities		          
FINANCING ACTIVITIES
Cash received		          
Appropriations - contributed equity (595) 252 252 252 252
Total cash received (595) 252 252 252 252
Net cash from or (used by) financing activities (595) 252 252 252 252
Net increase or (decrease) in cash held          
Cash at the beginning of the reporting period 13 174 134 439 460
Effect of exchange rate movements on cash at the beginning of reporting period - - - - -
Cash at the end of the reporting period 174 134 439 460 471

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Prepared on Australian Accounting Standards basis.


Table 3.2.5: Departmental capital budget statement

 

 Estimated actual
2009-10
          $'000		 Budget estimate
2010-11
          $'000		 Forward estimate
2011-12
          $'000		 Forward estimate
2012-13
          $'000		 Forward estimate
2013-14
          $'000
CAPITAL APPROPRIATIONS          
Departmental Capital - Special Appropriation (Dept only) - - - - -
Capital Budget - Bill 1 (DCB) - 252 252 252 252
Total capital appropriations - 252 252 252 252
Total new capital appropriations          
Represented by:          
Purchase of non-financial assets - 252 252 252 252
Annual finance lease costs          
Other Items          
Total Items - 252 252 252 252
PURCHASE OF NON-FINANCIAL
ASSETS		          
Funded by capital appropriations - 252 252 252 252
Funded by current year DCB1 - - - - -
Funded internally from departmental resources2 - - 795 500 -
TOTAL - 252 1,047 752 252
RECONCILIATION OF CASH          
USED TO ACQUIRE ASSETS          
TO ASSET MOVEMENT TABLE          
Total purchases - 252 252 252 252
less Additions by finance lease - - - - -
plus Annual finance lease costs - - - - -
less Gifted assets - - - - -
Total cash used to acquire assets - 252 252 252 252
  1. Does not include annual finance lease costs.
  2. Includes the following sources of funding: annual and prior year appropriations; donations and contributions; gifts; internally developed assets; s. 31 relevant agency receipts; proceeds from the sale of assets.

    Prepared on Australian Accounting Standards basis.

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Table 3.2.6: Statement of asset movements (2010-11)

 

 Land

          $'000		 Buildings

          $'000		 Other Infrastructure,
Plant & Equipment
          $'000		 Intangibles

          $'000		 Total

          $'000
As at 1 July 2010        
Gross book value - 509 38 996 1,543
Accumulated depreciation/amortisation - (236) (32) (690) (958)
Opening net book balance - 273 6 306 585
CAPITAL ASSET ADDITIONS          
Extimated expenditure on new or replacement assets          
By purchase - appropriation equity - - - - -
By purchase - appropriation ordinary annual services - 100 1 151 252
By purchase - other - - - - -
Acquisition of entities or operations (including restructuring) sub-total - 100 1 151 252
Other movements          
Assets held for sale or in a disposal group held for sale          
Depreciation/amortisation expense - 100 1 159 260
Other   - - - -
As at 30 June 2011          
Gross book value - 609 39 1,147 1,795
Accumulated depreciation/amortisation - (336) (33) (849) (1,218)
Closing net book balance - 273 6 298 577

Note: The numbers in this table are subject to review under the Government's net cash framework as part of the Operation Sunlight review.

Prepared on Australian Accounting Standards basis.

3.2.4    Notes to the financial statements

Basis of accounting
Accounting policy

The agency budget statements have been prepared on an accrual accounting basis, having regard to the Statement of Accounting Concepts, and in accordance with:

Departmental items

Departmental assets, liabilities, revenues and expenses are those items that are controlled by EOWA that are used by EOWA in producing its outputs, and include:


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