Statement by the Australian Public Service Commissioner and Chief
Financial Officer
In our opinion, the attached financial statements for the year ended 30 June 2015 comply with
subsection 42(2) of the Public Governance, Performance and Accountability Act 2013
(PGPA Act), and are based on properly maintained financial records as per subsection 41(2)
of the PGPA Act.
In our opinion, at the date of this statement, there are reasonable grounds to believe that the
Australian Public Service Commission will be able to pay its debts as and when they fall due.
John Lloyd PSM
Australian Public Service Commissioner
September 2015
Kelvin Zhu CPA
Chief Financial Officer
September 2015
Australian Public Service Commission
Statement of Comprehensive Income
for the period ended 30 June 2015
NET COST OF SERVICES
Expenses
Employee benefits
Suppliers
Depreciation and amortisation
Finance costs
Write-down and impairment of assets
Losses from asset sales
Total expenses
Own-Source Income
Own-source revenue
Sale of goods and rendering of services
Resources received free of charge
Total own-source revenue
Notes
2015
$’000
2014
$’000
4a
4b
4c
26,270
16,978
1,088
11
5
17
44,369
29,135
18,219
1,083
19
24
48,480
5a
5b
22,740
42
22,782
25,985
42
26,027
22,782
1
1
26,028
(21,587)
(22,452)
21,637
22,006
50
(446)
-
(119)
(119)
50
(565)
Gains
Reversals of previous asset write-downs and
impairments
Total gains
Total own-source income
Net cost of services
Revenue from Government
Surplus/(Deficit)
OTHER COMPREHENSIVE INCOME
Items not subject to subsequent reclassification to
net cost of services
Changes in asset revaluation surplus
Total other comprehensive income
Total comprehensive income/(loss)
5c
The above statement should be read in conjunction with the accompanying notes.
Australian Public Service Commission
Statement of Financial Position
as at 30 June 2015
Notes
2015
$’000
2014
$’000
1,382
27,409
28,791
490
24,561
25,051
1,764
1,039
976
39
463
4,281
33,072
2,056
1,279
1,039
42
522
4,938
29,989
9a
9b
9c
9d
5,947
7,377
763
926
15,013
4,540
5,980
934
847
12,301
10a
10b
6,876
401
7,277
22,290
6,987
391
7,378
19,679
Net assets
10,782
10,310
EQUITY
Contributed equity
Asset revaluation surplus
Retained surplus
Total equity
791
1,204
8,787
10,782
369
1,204
8,737
10,310
ASSETS
Financial assets
Cash and cash equivalents
Trade and other receivables
Total financial assets
Non-financial assets
Land and buildings
Property, plant and equipment
Intangibles
Inventories
Prepayments paid
Total non-financial assets
Total assets
LIABILITIES
Payables
Suppliers
Prepayments received
Lease incentives
Other payables
Total payables
Provisions
Employee provisions
Provision for restoration obligations
Total provisions
Total liabilities
7a
8a, c
8b, c
8d, e
8f
The above statement should be read in conjunction with the accompanying notes.
Australian Public Service Commission
Statement of Changes in Equity
for the period ended 30 June 2015
Retained
earnings
Opening balance
Comprehensive income
Surplus/(Deficit) for the
period
Other comprehensive
income
Total comprehensive
income
2015
$’000
2014
$’000
Asset
revaluation
surplus
2015
2014
$’000 $’000
8,737
9,183
1,204
50
(446)
-
Contributed
equity/capital
Total equity
2015
$’000
2014
$’000
2015
$’000
2014
$’000
1,323
369
(300)
10,310
10,206
-
-
-
-
50
(446)
-
-
(119)
-
-
-
(119)
50
(446)
-
(119)
-
-
50
(565)
-
-
-
-
422
669
422
669
-
-
-
-
422
669
422
669
8,787
8,737
1,204
1,204
791
369
10,782
10,310
Transactions with owners
Contributions by owners
Departmental capital
budget
Total transactions with
owners
Closing balance
as at 30 June
The above statement should be read in conjunction with the accompanying notes.
Australian Public Service Commission
Cash Flow Statement
for the period ended 30 June 2015
Notes
2015
$’000
2014
$’000
OPERATING ACTIVITIES
Cash received
Appropriations
Receipts from Government
Sale of goods and rendering of services
Net GST received
Other cash received
Total cash received
21,324
25,378
1,297
512
48,511
21,968
6,000
27,401
1,443
427
57,239
Cash used
Employees
Suppliers
Section 74 receipts transferred to OPA
Other cash used
Total cash used
Net cash from operating activities
27,327
16,290
3,350
650
47,617
894
30,544
20,317
6,000
352
57,213
26
187
237
424
(424)
254
526
780
(780)
422
422
422
669
669
669
892
(85)
490
575
1,382
490
INVESTING ACTIVITIES
Cash used
Purchase of property, plant and equipment
Purchase of intangibles
Total cash used
Net cash used by investing activities
FINANCING ACTIVITIES
Cash received
Contributed equity
Total cash received
Net cash from financing activities
Net increase/(decrease) in cash held
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period
11
The above statement should be read in conjunction with the accompanying notes.
Australian Public Service Commission
Schedule of Commitments
as at 30 June 2015
2015
Commitments receivable
Sublease rental income
Net GST recoverable 1
Total commitments receivable
Commitments payable
Intangibles 2
Total capital commitments
Other commitments
Operating leases 3
Suppliers 4
Total other commitments
Total commitments payable
Net commitments
Within
1 year
$’000
Between 1
to 5 years
$’000
More than
5 years
$’000
Total
$’000
(762)
(762)
(935)
(935)
(379)
(379)
(2,076)
(2,076)
101
101
-
-
101
101
2,789
5,490
8,279
8,380
7,618
9,603
679
10,282
10,282
9,347
4,108
63
4,171
4,171
3,792
16,500
6,232
22,732
22,833
20,757
The above schedule should be read in conjunction with the accompanying notes.
2014
Commitments receivable
Sublease rental income
Net GST recoverable 1
Total commitments receivable
Commitments payable
Intangibles 2
Total capital commitments
Other commitments
Operating leases 3
Suppliers 4
Total other commitments
Total commitments payable
Net commitments
Within
1 year
$’000
Between 1
to 5 years
$’000
More than
5 years
$’000
Total
$’000
(25)
(742)
(767)
(956)
(956)
(598)
(598)
(25)
(2,296)
(2,321)
100
100
-
-
100
100
2,745
5,345
8,090
8,190
7,423
10,003
507
10,510
10,510
9,554
6,475
99
6,574
6,574
5,976
19,223
5,951
25,174
25,274
22,953
Note:
1. Commitments are GST inclusive where relevant.
2. Contractual commitments for the development of software.
3. Operating leases are effectively non-cancellable. The APSC has leases for office
accommodation. Lease payments are subject to rent reviews in accordance with the lease
agreements. The initial periods of office accommodation leases are still current.
4. Suppliers commitments comprise amounts for fee for service, policy and administrative activities.
The above schedule should be read in conjunction with the accompanying notes.
Australian Public Service Commission
Administered Schedule of Comprehensive Income
for the period ended 30 June 2015
Notes
2015
$’000
2014
$’000
15a
61,338
61,338
60,655
60,655
2
2
2
-
Net cost of services
(61,336)
(60,655)
Total comprehensive loss
(61,336)
(60,655)
NET COST OF SERVICES
Expenses
Employee benefits
Total expenses
Income
Gains
Other gains
Total gains
Total income
Administered Reconciliation Schedule
Notes
Opening assets less liabilities as at 1 July
Net cost of services
Income
Expenses
Payments to entities other than corporate
Commonwealth entities
Transfers (to)/from the Australian Government
Appropriation transfers from Official Public Account
Special appropriations (unlimited)
Payments to entities other than corporate
Commonwealth entities
Appropriation transfers to Official Public Account
Transfers to Official Public Account
Closing assets less liabilities as at 30 June
16d
2015
$’000
-
2014
$’000
-
2
-
(61,338)
(60,655)
61,338
60,655
(2)
-
-
The above schedules should be read in conjunction with the accompanying notes.
Australian Public Service Commission
Administered Cash Flow Statement
for the period ended 30 June 2015
2015
$’000
2014
$’000
2
2
-
Cash used
Employees
Total cash used
Net cash used by operating activities
61,338
61,338
(61,336)
60,655
60,655
(60,655)
Net decrease in cash held
(61,336)
(60,655)
-
-
61,338
61,338
60,655
60,655
2
(2)
-
-
-
OPERATING ACTIVITIES
Cash received
Other cash received
Total cash received
Cash and cash equivalents at the beginning of the
reporting period
Cash from Official Public Account
Appropriations
Total cash from Official Public Account
Cash to Official Public Account
Appropriations
Total cash to Official Public Account
Cash and cash equivalents at the end of the
reporting period
The above statement should be read in conjunction with the accompanying notes.
Australian Public Service Commission
Table of Contents - Notes
Note
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Description
Summary of significant accounting policies
Events after the reporting period
Net cash appropriation arrangements
Expenses
Own-source income
Fair value measurement
Financial assets
Non-financial assets
Payables
Provisions
Cash flow reconciliation
Senior management personnel remuneration
Financial instruments
Financial assets reconciliation
Administered - expenses
Appropriations
Reporting of outcomes
Budgetary reports and explanations of major variances
Page 10 of 42
Australian Public Service Commission
Notes to the financial statements
Note 1: Summary of Significant Accounting Policies
1.1
Objective of the APSC
The Australian Public Service Commission (APSC) is an Australian Government controlled
entity. It is a not-for-profit entity. The objective of the APSC is to lead and shape a unified,
high-performing Australian Public Service.
The APSC is structured to meet one outcome, increased awareness and adoption of best
practice public administration by the public service through leadership, promotion, advice and
professional development, drawing on research and evaluation.
The continued existence of the APSC in its present form and with its present programmes is
dependent on Government policy and on continuing funding by Parliament for the APSC’s
administration and programmes.
APSC activities contributing towards this outcome are classified as either departmental or
administered. Departmental activities involve the use of assets, liabilities, income and
expenses controlled or incurred by the APSC in its own right. Administered activities involve
the management or oversight by the APSC, on behalf of the Government, of items controlled
or incurred by the Government.
The APSC conducts the administered activity “Parliamentarians' and Judicial Office Holders'
remuneration and entitlements” on behalf of Government.
1.2
Basis of preparation of the Financial Statements
The financial statements are general purpose financial statements and are required by
section 42 of the Public Governance, Performance and Accountability Act 2013.
The Financial Statements have been prepared in accordance with:


Financial Reporting Rule (FRR) for reporting periods ending on or after 1 July 2014; and
Australian Accounting Standards and Interpretations issued by the Australian Accounting
Standards Board (AASB) that apply for the reporting period.
The financial statements have been prepared on an accrual basis and in accordance with the
historical cost convention, except for certain assets and liabilities at fair value. Except where
stated, no allowance is made for the effect of changing prices on the operating result or the
financial position.
The financial statements are presented in Australian dollars and values are rounded to the
nearest thousand dollars unless otherwise specified.
1.3
Significant Accounting Judgements and Estimates
No accounting assumptions or estimates have been identified that have a significant risk of
causing a material adjustment to carrying amounts of assets and liabilities within the next
reporting period.
1.4
New Australian accounting standards
Adoption of new Australian Accounting Standard requirements
No accounting standard has been adopted earlier than the application date as stated in the
standard.
Page 11 of 42
Australian Public Service Commission
Notes to the financial statements
New and revised standards, interpretations and amending standards that were issued prior to
the sign-off date and are applicable to the current reporting period did not have a material
financial impact, and are not expected to have a material future financial impact on the APSC.
Future Australian Accounting Standard requirements
No new or revised standards, interpretations and amending standards that were issued prior
to the sign-off date and are applicable to the future reporting period are expected to have a
material future financial impact on the APSC.
AASB 15 Revenue from Contracts with Customers is effective for annual reporting periods
beginning on or after 1 January 2017. This will require the APSC to recognise revenue when
the APSC satisfies performance obligations with its customers. This will defer the timing of the
recognition of revenue for some services that the Commission provides. Potentially expenses
could be incurred in a different financial year to when revenue is recognised. However this is
not expected to have a material financial impact.
1.5
Revenue
Revenue from the sale of goods is recognised when:




the risks and rewards of ownership have been transferred to the buyer
the APSC retains no managerial involvement nor effective control over the goods
the revenue and transaction costs incurred can be reliably measured; and
it is probable that the economic benefits associated with the transaction will flow to the
APSC.
Revenue from rendering of services is recognised by reference to the stage of completion of
contracts at the reporting date. The revenue is recognised when:


the amount of revenue, stage of completion and transaction costs incurred can be reliably
measured; and
the probable economic benefits associated with the transaction will flow to the APSC.
The stage of completion of contracts at the reporting date is determined by reference to
services performed to date as a percentage of total services to be performed.
Receivables for goods and services, which have 30 day terms, are recognised at the nominal
amounts due less any impairment allowance account. Collectability of debts is reviewed at
end of the reporting period. Allowances are made when the collectability of the debt is no
longer probable.
Resources received free of charge
Resources received free of charge are recognised as revenue when, and only when, a fair
value can be reliably determined and the services would have been purchased if they had not
been donated. Use of those resources is recognised as an expense. Resources received free
of charge are recorded as either revenue or gains depending on their nature.
Revenue from Government
Amounts appropriated for departmental appropriations for the year (adjusted for any formal
additions and reductions) are recognised as Revenue from Government when the APSC
gains control of the appropriation, except for certain amounts that relate to activities that are
reciprocal in nature, in which case revenue is recognised only when it has been earned.
Appropriations receivable are recognised at their nominal amounts.
Page 12 of 42
Australian Public Service Commission
Notes to the financial statements
1.6
Transactions with the Government as owner
Equity injections
Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal
reductions) and Departmental Capital Budgets (DCBs) are recognised directly in contributed
equity in that year.
1.7
Employee benefits
Liabilities for ‘short-term employee benefits’ (as defined in AASB 119 Employee Benefits) and
termination benefits expected within twelve months of the end of the reporting period are
measured at their nominal amounts.
Leave
The liability for employee benefits includes provision for annual leave and long service leave.
No provision has been made for sick leave as all sick leave is non-vesting and the average
sick leave taken in future years by employees of the APSC is estimated to be less than the
annual entitlement for sick leave.
The leave liabilities are calculated on the basis of employees’ remuneration at the estimated
salary rates that will be applied at the time that the leave is taken, including the APSC’s
employer superannuation contribution rates to the extent that the leave is likely to be taken
during service rather than paid out on termination.
The liability for long service leave has been determined by using the Australian Government
shorthand method for all employees as at 30 June 2015. The estimate of the present value of
the liability takes into account attrition rates and pay rises through promotion and inflation.
Superannuation
APSC employees are members of the Commonwealth Superannuation Scheme (CSS), the
Public Sector Superannuation Scheme (PSS) or the PSS accumulation plan (PSSap).
The CSS and PSS are defined benefit schemes for the Australian Government. The PSSap is
a defined contribution scheme.
The liability for defined benefits is recognised in the financial statements of the Australian
Government and is settled by the Australian Government in due course. This liability is
reported in the Department of Finance’s administered schedules and notes.
The APSC makes employer contributions to employees’ superannuation schemes at rates
determined by an actuary to be sufficient to meet the current cost to the Government. The
APSC accounts for the contributions as if they were contributions to defined contribution
plans.
The superannuation payable (note 9d) represents outstanding contributions for the final
fortnight of the financial year.
1.8
Leases
Operating lease payments are expensed on a straight line basis which is representative of the
pattern of benefits derived from the leased assets.
Operating lease incentives taking the form of “free” leasehold improvements, lessor
contributions and rent holidays are recognised as liabilities. These liabilities are reduced by
allocating lease payments between rental expense and reduction of the liability.
Page 13 of 42
Australian Public Service Commission
Notes to the financial statements
1.9
Cash
Cash is recognised at its nominal amount. Cash and cash equivalents includes:


cash on hand and
cash held by outsiders
1.10 Financial assets
Trade receivables are classified as ‘loans and receivables’. Loans and receivables are
measured at face value less impairment. Trade receivables are recognised and derecognised
upon trade date. Trade receivables are assessed for impairment at the end of each reporting
period.
1.11 Financial liabilities
Supplier and other payables are recognised at amortised cost. Liabilities are recognised to the
extent that the goods or services have been received (and irrespective of having been
invoiced). Supplier and other payables are recognised and derecognised upon trade date.
1.12 Contingent liabilities and contingent assets
The APSC had no quantifiable or unquantifiable contingent assets or liabilities as at 30 June
2015 (2014: nil).
1.13 Acquisition of assets
Assets are recorded at cost on acquisition except as stated below. The cost of acquisition
includes the fair value of assets transferred in exchange and liabilities undertaken. Financial
assets are initially measured at their fair value.
Assets acquired at no cost, or for nominal consideration, are initially recognised as assets and
income at their fair value at the date of acquisition, unless acquired as a consequence of
restructuring of administrative arrangements.
1.14 Property, plant and equipment
Asset recognition threshold
Purchases of property, plant and equipment are recognised initially at cost in the statement of
financial position, except for purchases of property plant and equipment costing less than
$2,000, or leasehold improvements costing less than $60,000, which are expensed in the year
of acquisition (other than where they form part of a group of similar items which are significant
in total).
The initial cost of an asset includes an estimate of the cost of dismantling and removing the
item and restoring the site on which it is located. This is particularly relevant to the provision
for restoration obligations in property leases taken up by the APSC where there exists an
obligation to restore the property to its original condition. These costs are included in the value
of the APSC’s leasehold improvements with a corresponding provision for restoration
obligations recognised.
Page 14 of 42
Australian Public Service Commission
Notes to the financial statements
Revaluations
Following initial recognition at cost, property plant and equipment were carried at fair value
less subsequent accumulated depreciation and accumulated impairment losses. Valuations
were conducted with sufficient frequency to ensure that the carrying amounts of assets do not
materially differ from the assets’ fair values as at the reporting date. The regularity of
independent valuations depends upon the volatility of movements in market values for the
relevant assets.
Revaluation adjustments were made on a class basis. Any revaluation increment is credited to
equity under the heading of asset revaluation surplus except to the extent that it reverses a
previous revaluation decrement of the same asset class that was previously recognised in the
surplus or deficit. Revaluation decrements for a class of assets are recognised directly in the
surplus or deficit except to the extent that they reverse a previous revaluation increment for
that class.
Any accumulated depreciation as at the revaluation date is eliminated against the gross
carrying amount of the asset and the asset restated to the revalued amount.
Depreciation
Depreciable property, plant and equipment assets are written off to their estimated residual
values over their estimated useful lives to the APSC using, in all cases, the straight-line
method of depreciation.
Depreciation rates (useful lives), residual values and methods are reviewed at each reporting
date.
Depreciation rates applying to each class of depreciable asset are based on the following
useful lives:
Asset class
Leasehold improvements
Property, plant and equipment
2015
2014
Lease term
Lease term
1 to 13 years
1 to 13 years
Impairment
All assets were assessed for impairment at 30 June 2015. Where indications of impairment
exist, the asset’s recoverable amount is estimated and an impairment adjustment made if the
asset’s recoverable amount is less than its carrying amount.
Derecognition
An item of property, plant and equipment is derecognised upon disposal or when no further
future economic benefits are expected from its use or disposal.
1.15 Intangibles
The APSC’s intangibles comprise intellectual property, purchased software and internally
developed software for internal use. These assets are carried at cost less accumulated
amortisation and accumulated impairment losses where the value of the asset exceeds
$2,000 for purchased software and $60,000 for internally developed software and
intellectual property.
Intangibles are amortised on a straight-line basis over their anticipated useful life. The useful
lives of the APSC’s intangibles are between 2 to 10 years (2014: 2 to 10 years).
All intangible assets were assessed for impairment as at 30 June 2015.
Page 15 of 42
Australian Public Service Commission
Notes to the financial statements
1.16 Inventories
Inventories held for distribution are valued at cost, adjusted for any loss in service potential.
1.17 Taxation
The APSC is exempt from all forms of taxation except Fringe Benefits Tax (FBT) and the
Goods and Services Tax (GST).
Revenues, expenses, assets and liabilities are recognised net of GST except:


where the amount of GST incurred is not recoverable from the Australian Taxation Office;
and
for receivables and payables.
The APSC is not subject to competitive neutrality arrangements.
1.18 Compliance with statutory conditions for payments from the Consolidated
Revenue Fund
Section 83 of the Constitution provides that no amount may be paid out of the Consolidated
Revenue Fund except under an appropriation made by law. The Australian Government
continues to have regard to developments in case law, including the High Court’s most recent
decision on Commonwealth expenditure in Williams v Commonwealth [2014] HCA 23, as they
contribute to the larger body of law relevant to the development of Commonwealth
programmes. In accordance with its general practice, the Government will continue to monitor
and assess risk and decide on any appropriate actions to respond to risks of expenditure not
being consistent with constitutional or other legal requirements.
1.19 Related parties
The term 'related parties' means entities which form part of the Australian Government or
which the Australian Government controls. A list of these entities is contained in the Australian
Government Consolidated Financial Statements (CFS) and is current at the date of
preparation of the CFS.
1.20 Reporting of administered activities
Administered revenues, expenses, assets, liabilities and cash flows are disclosed in the
administered schedules and related notes.
Except where otherwise stated below, administered items are accounted for on the same
basis and using the same policies as for departmental items, including the application of
Australian Accounting Standards.
Administered cash transfers to and from the Official Public Account
Revenue collected by the APSC for use by the Government rather than the APSC is
administered revenue. Collections are transferred to the Official Public Account (OPA)
maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make
payments under Parliamentary appropriation on behalf of Government. These transfers to and
from the OPA are adjustments to the administered cash held by the APSC on behalf of the
Government and reported as such in the schedule of administered cash flows and in the
administered reconciliation schedule.
Commitments
The APSC had no administered commitments as at 30 June 2015 (2014: nil).
Page 16 of 42
Australian Public Service Commission
Notes to the financial statements
Contingent liabilities and contingent assets
The APSC had no quantifiable or unquantifiable administered contingent assets or liabilities
as at 30 June 2015 (2014: nil).
Compliance with statutory conditions for payments from the Consolidated Revenue Fund
The possibility of breaches of section 83 of the Constitution for the APSC’s administered
payments was investigated and confirmed in prior years. In order to reduce the risks of noncompliance to an acceptably low level, changes were made to the Remuneration Tribunal Act
1973 which were enacted on 28 May 2013.
Reviews conducted by drawing entities identified that no payments (2014: No payments) were
made without legal authority in contravention of section 83 of the Constitution for payments
reported under the Remuneration Tribunal Act 1973.
Note 2: Events After the Reporting Period
There was no subsequent event that had the potential to affect the ongoing structure and
financial activities of the APSC.
Note 3: Net Cash Appropriation Arrangements
Total comprehensive income less
depreciation/amortisation expenses previously funded
through revenue appropriations 1
Plus: depreciation/amortisation expenses previously funded
through revenue appropriation
Total comprehensive income/(loss) - as per the Statement
of Comprehensive Income
2015
$’000
2014
$’000
1,138
169
(1,088)
(734)
50
(565)
1. From 2010-11, the Government introduced net cash appropriation arrangements, where
revenue appropriations for depreciation/amortisation expenses ceased. Entities now receive a
separate capital budget provided through equity appropriations. Capital budgets are to be
appropriated in the period when cash payment for capital expenditure is required.
Page 17 of 42
Australian Public Service Commission
Notes to the financial statements
Note 4: Expenses
Note 4a: Employee benefits
Wages and salaries
Superannuation
Defined contribution plans
Defined benefit plans
Leave and other entitlements
Separation and redundancies
Total employee benefits
Note 4b: Suppliers
Goods and services supplied or rendered
Consultants
Contractors
Travel
Venue hire and catering
Publications and printing
Training
Information and communications technology
Facilities expense
Other goods and services
Total goods and services supplied or rendered
Goods supplied in connection with
Related parties
External parties
Total goods supplied
Services rendered in connection with
Related parties 1
External parties
Total services rendered
Total goods and services supplied or rendered
2015
$’000
2014
$’000
20,189
21,999
1,503
2,276
2,302
26,270
1,808
2,396
2,861
71
29,135
1,375
7,112
1,003
779
184
320
2,355
121
687
13,936
1,075
7,805
1,316
925
217
400
2,545
114
922
15,319
4
260
264
3
359
362
2,544
11,128
13,672
13,936
2,424
12,533
14,957
15,319
Other suppliers
Operating lease rentals in connection with
Related parties
Sublease
External parties
Minimum lease payments
Contingent rentals
226
189
2,312
71
2,323
68
Worker compensation expenses
Total other suppliers
433
3,042
320
2,900
16,978
18,219
Total suppliers
1. Related parties are defined in note 1.19.
Page 18 of 42
Australian Public Service Commission
Notes to the financial statements
Note 4c: Depreciation and amortisation
Depreciation
Property, plant and equipment
Buildings
Total depreciation
Amortisation
Intangibles
Total amortisation
Total depreciation and amortisation
2015
$’000
2014
$’000
396
381
777
380
402
782
311
311
1,088
301
301
1,083
2015
$’000
2014
$’000
5
1
6
11
1
12
22,213
521
22,734
22,740
25,134
839
25,973
25,985
42
42
21,637
21,637
22,006
22,006
Note 5: Own-source income
Own-source revenue
Note 5a: Sale of goods and rendering of services
Sale of goods in connection with
Related parties
External parties
Total sale of goods
Rendering of services in connection with
Related parties
External parties
Total rendering of services
Total sale of goods and rendering of services
Note 5b: Resources received free of charge
Remuneration of auditors
Revenue from Government
Note 5c: Revenue from Government
Appropriations
Departmental appropriations
Total revenue from Government
Page 19 of 42
Australian Public Service Commission
Notes to the financial statements
Note 6: Fair Value Measurement
The following table provides an analysis of assets and liabilities that are measured at fair
value. The different levels of fair value hierarchy are defined below.
Level 1: Quoted process (unadjusted) in active markets for identical assets or liabilities that
the APSC can access at measurement date.
Level 2: Inputs other than quoted prices included within Level 1 that are observable for the
asset or liability, either directly or indirectly.
Level 3: Unobservable inputs for the asset or liability.
The APSC determines fair value for non-financial assets using level 3 inputs in the fair value
hierarchy. The following table discloses the fair value at 30 June and the valuation techniques
used to derive fair value.
Note 6a Fair value measurements - valuation technique and the inputs used for assets
in 2015
Fair value
Range
2015 2014
Category
Valuation
Inputs
(weighted
$'000 $'000
level technique(s)1
used
average)2
Non-financial
assets
Leasehold
1,764 2,056
Level 3
Depreciated
See Replacement
cost of $750
improvements
replacement
footnote 1
to $1,762 per
cost
square metre
Other
property, plant
and equipment
1,039
1,279
Level 3
Depreciated
replacement
cost
See
footnote 2
N/A
1. The major input relevant to leasehold improvements is an estimate of replacement cost
based upon the specifics of each particular leasehold improvement including construction
type, use, services, specialist components and the like. The fair value is then assessed by
having regard to that portion of the likely length of the lease term that has expired, the
remaining lease term and remaining useful life. Assets in this class are considered on an
individual basis, not on any average or weighted average basis, as each needs to be
considered specifically to represent its characteristics.
2. The primary input for other property, plant and equipment is the replacement cost of the
asset as at the date of valuation. The fair value is assessed by reference to the asset’s
physical and functional characteristics, the APSC’s internal policy for each class, the adopted
useful life and the expended and remaining useful life of each asset. Assets are considered on
an individual basis, rather than from any predetermined averaging or weighted averages,
however where there are numerous alike assets, for example, computers which are all
identical and purchased on the same date, the assessment of one asset is then utilised for
those alike assets.
The highest and best use of all non-financial assets are the same as their current use. No
change in valuation technique occurred during the period.
Page 20 of 42
Australian Public Service Commission
Notes to the financial statements
Note 7: Financial Assets
2015
$’000
2014
$’000
1,743
108
1,851
2,442
168
2,610
25,025
25,025
21,362
21,362
539
539
565
25
590
Total trade and other receivables (gross)
27,415
24,562
Less impairment allowance
Goods and services
Total impairment allowance
Total trade and other receivables (net)
(6)
(6)
27,409
(1)
(1)
24,561
Trade and other receivables (net) expected to be
recovered
No more than 12 months
More than 12 months
Total trade and other receivables (net)
27,409
27,409
24,536
25
24,561
26,986
24,308
92
93
120
124
27,415
147
49
45
13
24,562
Note 7a: Trade and other receivables
Goods and services in connection with
Related parties
External parties
Total goods and services receivables
Appropriation receivables
Existing programmes
Total appropriation receivables
Other receivables
GST receivable from the Australian Taxation Office
Incentive receivable
Total other receivables
Trade and other receivables (gross) aged as follows
Not overdue
Overdue by
0 to 30 days
31 to 60 days
61 to 90 days
More than 90 days 1
Total trade and other receivables (gross)
1. The increase in overdue receivables is predominantly due to a pricing review for APSJobs,
which resulted in invoices being issued to customers later in the financial year and also
required additional time to communicate the new pricing structure to customers. At the time of
preparing the 2014-15 financial statements, the majority of these receivables had been paid
by customers.
Page 21 of 42
Australian Public Service Commission
Notes to the financial statements
Note 7a: Trade and other receivables (continued)
Impairment allowance aged as follows
Overdue by
more than 90 days
Total impairment allowance
(6)
(6)
(1)
(1)
These items are assessed as impaired as it will be uneconomic to pursue them.
Reconciliation of impairment allowance
Opening balance
Amounts written-off
Amounts recovered and reversed
(Increase)/decrease recognised in net cost of services
Closing balance
Credit terms for goods and services are within 30 days (2014: 30 days).
Page 22 of 42
(1)
(5)
(6)
(2)
2
(1)
(1)
Australian Public Service Commission
Notes to the financial statements
Note 8: Non-Financial Assets
Note 8a: Land and buildings
Leasehold improvements
Fair value
Accumulated depreciation
Total leasehold improvements
Total land and buildings
2015
$’000
2014
$’000
2,145
(381)
1,764
1,764
2,056
2,056
2,056
Leasehold improvements were assessed for impairment as at 30 June 2015, no
impairment loss was identified (2014: nil).
No leasehold improvements (2014: nil) are expected to be disposed of within the next 12
months.
Note 8b: Property, plant and equipment
Other property, plant and equipment
Fair value
Accumulated depreciation
Total other property, plant and equipment
Total property, plant and equipment
1,411
(372)
1,039
1,039
1,279
1,279
1,279
No indicators of impairment were found for property, plant and equipment (2014: nil).
No material items of property, plant or equipment (2014: nil) are expected to be sold or
disposed of within the next 12 months.
Revaluation of non-financial assets
No revaluation was performed during the 2014-15 financial year. In the 2013-14 financial
year Preston Rowe Paterson conducted a revaluation of leasehold improvements and
other property, plant and equipment. The revaluation was conducted in accordance with
the revaluation policy stated at Note 6.
Revaluation decrement for leasehold improvements was nil (2014: $198,000).
Revaluation increment for property, plant and equipment was nil (2014: $78,000).
All increments and decrements were transferred to the asset revaluation surplus by asset
class and included in the equity section of the statement of financial position. No
decrements were expensed (2014: nil).
Page 23 of 42
Australian Public Service Commission
Notes to the financial statements
Note 8c: Reconciliation of the opening and closing balances of
property, plant and equipment
Buildings
leasehold
improvements
2015
As at 1 July 2014
Gross book value
Accumulated depreciation and impairment
Total as at 1 July 2014
Additions – by purchase
Depreciation
Disposals
Total as at 30 June 2015
Total as at 30 June 2015 represented by
Gross book value
Accumulated depreciation and impairment
Total as at 30 June 2015
2014
As at 1 July 2013
Gross book value
Accumulated depreciation and impairment
Total as at 1 July 2013
Additions – by purchase
Revaluations and impairments recognised
in other comprehensive income
Depreciation
Disposals
Total as at 30 June 2014
Total as at 30 June 2014 represented by
Gross book value
Accumulated depreciation and impairment
Total as at 30 June 2014
Page 24 of 42
$’000
Other
property,
plant &
equipment
$’000
Total
$’000
2,056
2,056
89
(381)
1,764
1,279
1,279
173
(396)
(17)
1,039
3,335
3,335
262
(777)
(17)
2,803
2,145
(381)
1,764
1,411
(372)
1,039
3,556
(753)
2,803
Buildings
leasehold
improvements
$’000
Other
property, plant
& equipment
$’000
Total
$’000
3,404
(748)
2,656
-
2,896
(1,545)
1,351
254
6,300
(2,293)
4,007
254
(198)
(402)
2,056
78
(380)
(24)
1,279
(120)
(782)
(24)
3,335
2,056
2,056
1,279
1,279
3,335
3,335
Australian Public Service Commission
Notes to the financial statements
2015
$’000
2014
$’000
Note 8d: Intangibles
Computer software
Internally developed - in use
Purchased
Accumulated amortisation
Total computer software
1,941
1,043
(2,012)
972
1,887
866
(1,729)
1,024
Intellectual property
Internally developed - in use
Accumulated amortisation
Total intellectual property
814
(810)
4
814
(799)
15
976
1,039
Total intangibles
No indicators of impairment were found for intangible assets.
No intangibles are expected to be sold or disposed of within the next 12 months.
Note 8e: Reconciliation of the opening and closing balances of
intangibles
Computer
software
purchased
2015
As at 1 July 2014
Gross book value
Accumulated depreciation and impairment
Total as at 1 July 2014
Additions - by purchase or internally
developed
Amortisation
Total as at 30 June 2015
Total as at 30 June 2015 represented by
Gross book value
Accumulated depreciation and impairment
Total as at 30 June 2015
Page 25 of 42
Intellectual
property
Total
$’000
Computer
software
internally
developed
$’000
$’000
$’000
866
(373)
493
1,887
(1,356)
531
814
(799)
15
3,567
(2,528)
1,039
194
(168)
519
54
(132)
453
(11)
4
248
(311)
976
1,043
(524)
519
1,941
(1,488)
453
814
(810)
4
3,798
(2,822)
976
Australian Public Service Commission
Notes to the financial statements
Note 8e: Reconciliation of the opening and closing balances of
intangibles (continued)
Computer
software
purchased
2014
As at 1 July 2013
Gross book value
Accumulated depreciation and impairment
Total as at 1 July 2013
Additions - by purchase or internally
developed
Amortisation
Total as at 30 June 2014
Total as at 30 June 2014 represented by
Gross book value
Accumulated depreciation and impairment
Total as at 30 June 2014
Intellectual
property
Total
intangibles
$’000
Computer
software
internally
developed
$’000
$’000
$’000
367
(215)
152
499
1,944
(1,226)
718
(57)
814
(786)
28
-
3,125
(2,227)
898
442
(158)
493
(130)
531
(13)
15
(301)
1,039
866
(373)
493
1,887
(1,356)
531
814
(799)
15
3,567
(2,528)
1,039
Note 8f: Prepayments paid
Prepayments paid expected to be recovered
No more than 12 months
More than 12 months
Total prepayments paid
No indicators of impairment were found for prepayments paid.
Page 26 of 42
2015
2014
454
9
463
508
14
522
Australian Public Service Commission
Notes to the financial statements
Note 9: Payables
2015
$’000
2014
$’000
Note 9a: Suppliers
Trade creditors and accruals
Operating lease rentals
Total suppliers
4,166
1,781
5,947
2,706
1,834
4,540
Suppliers expected to be settled
No more than 12 months
More than 12 months
Total suppliers
4,299
1,648
5,947
2,759
1,781
4,540
Suppliers in connection with
Related parties
External parties
Total suppliers
1,360
4,587
5,947
826
3,714
4,540
Note 9b: Prepayments received
Prepayments received expected to be settled
No more than 12 months
More than 12 months
Total prepayments received
7,312
65
7,377
5,922
58
5,980
Note 9c: Lease incentives
Lease incentives expected to be settled
No more than 12 months
More than 12 months
Total lease incentives
163
600
763
166
768
934
Note 9d: Other payables
Wages and salaries
Superannuation
Other
Total other payables
737
130
59
926
701
115
31
847
All other payables are expected to be settled in no more than 12 months.
Page 27 of 42
Australian Public Service Commission
Notes to the financial statements
Note 10: Provisions
2015
$’000
2014
$’000
Leave
Total employee provisions
6,876
6,876
6,987
6,987
Employee provisions expected to be settled
No more than 12 months
More than 12 months
Total employee provisions
2,985
3,891
6,876
3,219
3,768
6,987
Note 10b: Provision for restoration obligations
As at 1 July
Additional provisions made
Amounts reversed
Unwinding of discount or change in discount rate
Total as at 30 June
391
10
401
372
1
(1)
19
391
Provision for restoration obligations expected to be settled
No more than 12 months
More than 12 months
Total provision for restoration obligations
189
212
401
391
391
Note 10a: Employee provisions
The APSC currently has two (2014: two) leasing agreements which have provisions
requiring the APSC to restore the premises to their original condition at the conclusion of
the lease. The APSC has made provisions to reflect the present value of these obligations.
Page 28 of 42
Australian Public Service Commission
Notes to the financial statements
Note 11: Cash Flow Reconciliation
Reconciliation of net cost of services to net cash from
operating activities:
Net cost of services
Revenue from Government
Adjustments for non-cash items
Depreciation and amortisation
Loss on sale of assets
Changes in assets/liabilities
Assets
(Increase)/decrease in net receivables
(Increase)/decrease in inventories
(Increase)/decrease in prepayments paid
Liabilities
Increase/(decrease) in supplier payables
Increase/(decrease) in prepayments received
Increase/(decrease) in lease incentives
Increase/(decrease) in other payables
Increase/(decrease) in employee provisions
Increase/(decrease) in provision for restoration obligations
Net cash from operating activities
2015
$’000
2014
$’000
(21,587)
21,637
(22,452)
22,006
1,088
17
1,083
24
(2,848)
3
59
2,624
13
470
1,321
1,397
(171)
79
(111)
10
894
(1,429)
(1,456)
(166)
(566)
(144)
19
26
Note 12: Senior Management Personnel Remuneration
2015
$
2014
$
2,536,090
279,786
2,815,876
2,573,652
296,141
2,869,793
Post-employment benefits
Superannuation
Total post-employment benefits
430,870
430,870
444,673
444,673
Other long-term benefits
Annual leave accrued
Long-service leave
Total other long-term benefits
247,233
77,797
325,030
263,099
126,194
389,293
3,571,776
3,703,759
Short-term employee benefits
Salary
Motor vehicle and other allowances
Total short-term employee benefits
Total senior executive remuneration expenses
The total number of senior management personnel that are included in the above table
are 13 (2014: 13).
Page 29 of 42
Australian Public Service Commission
Notes to the financial statements
Note 13: Financial Instruments
Notes
2015
$’000
2014
$’000
Note 13a: Categories of financial
instruments
Financial Assets
Loans and receivables
Cash and cash equivalents
Goods and services receivables
Incentive receivable
Total loans and receivables:
7a
7a
Total financial assets
Financial Liabilities
Financial liabilities measured at amortised cost
Trade creditors and accruals
Other payables
Total financial liabilities measured at amortised cost
9a
9d
Carrying amount of financial liabilities
1,382
1,845
3,227
490
2,609
25
3,124
3,227
3,124
4,166
59
4,225
2,706
31
2,737
4,225
2,737
The carrying amount of all financial assets and liabilities is a reasonable approximation of their
fair value.
Note 13b: Credit risk
The APSC was exposed to minimal credit risk as loans and receivables were goods and
services receivables. The maximum exposure to credit risk was the risk that arises from the
potential default of a debtor. This amount was equal to the total amount of goods and services
receivables (see note 13a). The APSC has assessed the risk of the default on payment and
has allocated an allowance for impairment on goods and services receivables (see note 7a).
The ageing of goods and services receivables and a reconciliation of the impairment
allowance are disclosed in note 7a.
The APSC’s goods and services receivables are principally recoverable from other Australian
Government entities. In addition, the APSC had policies and procedures that guide the debt
recovery processes.
The APSC holds no collateral to mitigate against credit risk.
Note 13c: Liquidity risk
The APSC is exposed to minimal liquidity risk as it has sufficient appropriation funding from
the Australian Government to ensure it meets payment obligations as they fall due. In
addition, the APSC has policies in place to ensure timely payments are made when due and
has no past experience of default.
The APSC had no derivative financial instruments in 2015 (2014: nil).
Page 30 of 42
Australian Public Service Commission
Notes to the financial statements
Note 13d: Market risk
The APSC holds basic financial instruments that do not expose the APSC to certain market
risks such as ‘Currency risk’ and ‘Other price risk’.
There are no interest-bearing items on the statement of financial position.
Note 14: Financial Assets Reconciliation
Notes
Total financial assets as per statement of financial
position
Less: non-financial instrument components
Appropriations receivables
Other receivables
Total non-financial instrument components
Total financial assets as per financial instruments
note
7a
7a
2015
$’000
2014
$’000
28,791
25,051
25,025
539
25,564
21,362
565
21,927
3,227
3,124
Note 15: Administered - Expenses
Note 15a: Employee Benefits
Employee benefits
Wages and salaries
Total employee benefits
Page 31 of 42
2015
$’000
2014
$’000
61,338
61,338
60,655
60,655
Australian Public Service Commission
Notes to the financial statements
Note 16: Appropriations
Note 16a: Annual Appropriations ('Recoverable GST exclusive')
Departmental Ordinary Annual Services
Appropriation Act
Annual Appropriation 1
Total Appropriation Act
PGPA Act
Section 74 2
Total PGPA Act
Total Appropriation
Appropriation applied (current and prior years)
Variance 3
Section 51 determinations 4
2015
$'000
2014
$'000
22,072
22,072
22,675
22,675
25,860
25,860
47,932
(43,407)
4,525
(13)
27,757
27,757
50,432
(50,536)
(104)
(112)
1. In 2014, as announced in the 2013-14 Mid-year and Fiscal Economic Outlook, the
Department of Finance temporarily quarantined the APSC’s surplus departmental
appropriation funding of $38,000. Formal reduction of this temporarily quarantined
appropriation will be made in a future period by the Department of Finance.
In 2015, no appropriation has been temporarily withheld (see footnote 4 for amounts that have
been permanently withheld).
2. Receipts in 2014 were appropriated under section 31 of the Financial Management and
Accountability Act 1997.
3. The variance in 2015 occurred due to the operating result excluding non-cash depreciation
expense (see note 3) and an increase in suppliers payables (note 9a) and prepayments
received (note 9b). These factors resulted in higher cash inflows for the year.
4. In 2013, as announced in the 2012-13 Mid-year and Fiscal Economic Outlook, by
agreement with the Department of Finance, the APSC relinquished control of surplus
departmental appropriation funding of $112,000. This reduction of $112,000 under section 10
of Appropriation Act (No. 1) 2012-13 was determined by the Minister for Finance on
5 August 2013.
In 2015, as announced in the 2014-15 Mid-year and Fiscal Economic Outlook, by agreement
with the Department of Finance, the APSC relinquished control of surplus departmental
appropriation funding of $13,000. This unused appropriation was permanently withheld by
direction of a delegate for the Minister for Finance under section 51 of the PGPA Act on
30 June 2015.
Page 32 of 42
Australian Public Service Commission
Notes to the financial statements
Note 16b: Departmental Capital Budgets (‘Recoverable GST exclusive’)
Ordinary annual services
Departmental Capital Budget 1
Appropriation Act
Annual Capital Budget
Total Appropriation Act
Total Capital Budget Appropriations
Capital Budget Appropriation applied (current and prior
years)
Payments for non-financial assets 2
Total payments
Variance
2015
$'000
2014
$'000
422
422
422
669
669
669
(422)
(422)
-
(669)
(669)
-
1. Departmental Capital Budgets are appropriated through Appropriation Acts (Nos. 1, 3 & 5).
They form part of ordinary annual services, and are not separately identified in the
Appropriation Acts. For more information on ordinary annual services appropriations, please
see Note 16a: Annual appropriations.
2. Payments made on non-financial assets include purchases of assets, expenditure on
assets which has been capitalised, costs incurred to make good an asset to its original
condition, and the capital repayment component of finance leases.
Note 16c: Unspent Departmental Annual Appropriations (‘Recoverable
GST exclusive’)
Departmental
Appropriation Act (No. 1) 2013-14
Appropriation Act (No. 1) 2014-15
Total departmental
Page 33 of 42
2015
$’000
2014
$’000
38
26,759
26,797
22,285
22,285
Australian Public Service Commission
Notes to the financial statements
Note 16d: Special Appropriations Applied ('Recoverable GST
exclusive')
Authority
Remuneration
Tribunal Act 1973 –
section 7(13) –
Administered
Type
Unlimited
amount
Remuneration and
Allowances Act
1990 – section 8 –
Administered
Unlimited
amount
Purpose
An Act to inquire into, and
determine or provide advice on,
remuneration and related
matters 1.
Appropriation applied
2015
2014
$’000
$’000
61,338
60,655
-
-
61,338
60,655
An Act to provide for the
remuneration and allowances of
holders and judicial offices,
Secretaries of Departments and
holders of public offices,
Senators and Members of the
House of Representatives,
Ministers and office holders of
the Parliament related matters 2.
Total special
appropriations
applied
1. The Department of the House of Representatives, the Department of the Senate and the
Attorney-General’s Department drew from the Remuneration Tribunal Act 1973 - section 7(13)
for the purpose of making payments of Parliamentarians' and Judicial Office Holders'
remuneration and entitlements.
2. Due to amendments made in 2011 to the Remuneration Tribunal Act 1973, from 15 March
2012 payments are no longer made under the Remuneration and Allowances Act 1990.
Note 17: Reporting of Outcomes
Note 17a: Net cost of Outcome delivery
Outcome 1
2015
2014
$’000
$’000
Departmental
Expenses
Own-source income
Administered
Expenses
Income
Net cost of outcome delivery
44,369
22,782
48,480
26,028
61,338
2
82,923
60,655
83,107
Outcome 1 is described in Note 1.1. Net costs shown included intra-government costs that
were eliminated in calculating the actual Budget outcome.
Page 34 of 42
Australian Public Service Commission
Notes to the financial statements
Note 17b: Major classes of Departmental expense, income, assets and
liabilities by outcome
As the APSC only has one outcome, major classes of departmental assets and liabilities for
Outcome 1 are as per the statement of financial position and major classes of departmental
expenses and income for Outcome 1 are as per the statement of comprehensive income.
Note 17c: Major classes of Administered expense, income, assets and
liabilities by outcome
Administered expenses for Outcome 1 are as per the administered schedule of
comprehensive income.
Note 18: Budgetary Reports and Explanations of Major Variances
The following tables provide a comparison of the original budget as presented in the 2014-15
Portfolio Budget Statements (PBS) to the 2014-15 final outcome as presented in accordance
with Australian Accounting Standards for the APSC. The Budget is not audited.
Note 18a: Departmental Budgetary Reports
Statement of Comprehensive Income
for the period ended 30 June 2015
Actual
2015
$’000
Budget Estimate
Original1 Variance2
2015
2015
$’000
$’000
NET COST OF SERVICES
Expenses
Employee benefits
Suppliers
Depreciation and amortisation
Finance costs
Write-down and impairment of assets
Losses from asset sales
Total expenses
26,270
16,978
1,088
11
5
17
44,369
27,519
15,772
1,396
20
44,707
(1,249)
1,206
(308)
(9)
5
17
(338)
Own-Source Income
Own-source revenue
Sale of goods and rendering of services
Resources received free of charge
Total own-source revenue
Total own-source income
22,740
42
22,782
22,782
21,894
41
21,935
21,935
846
1
847
847
(21,587)
(22,772)
1,185
21,637
21,650
(13)
Surplus/(Deficit)
50
(1,122)
1,172
Total comprehensive income/(loss)
50
(1,122)
1,172
Net cost of services
Revenue from Government
Page 35 of 42
Australian Public Service Commission
Notes to the financial statements
1. The original budgeted financial statement that was first presented to parliament in respect
of the reporting period (i.e. from the 2014-15 PBS).
2. Between the actual and original budgeted amounts for 2015. Explanations of major
variances are provided further below.
Statement of Financial Position
as at 30 June 2015
Actual
2015
$’000
Budget Estimate
Original1 Variance2
2015
2015
$’000
$’000
ASSETS
Financial assets
Cash and cash equivalents
Trade and other receivables
Total financial assets
1,382
27,409
28,791
450
26,802
27,252
932
607
1,539
Non-financial assets
Land and buildings
Property, plant and equipment
Intangibles
Inventories
Prepayments paid
Total non-financial assets
Total assets
1,764
1,039
976
39
463
4,281
33,072
1,924
993
1,418
55
992
5,382
32,634
(160)
46
(442)
(16)
(529)
(1,101)
438
LIABILITIES
Payables
Suppliers
Prepayments received
Lease incentives
Other payables
Total payables
5,947
7,377
763
926
15,013
7,447
7,436
768
15,651
(1,500)
(59)
(5)
926
(638)
Provisions
Employee provisions
Provision for restoration obligations
Total provisions
Total liabilities
Net assets
6,876
401
7,277
22,290
10,782
7,131
411
7,542
23,193
9,441
(255)
(10)
(265)
(903)
1,341
EQUITY
Contributed equity
Asset revaluation surplus
Retained surplus
Total equity
791
1,204
8,787
10,782
791
1,323
7,327
9,441
(119)
1,460
1,341
1. The original budgeted financial statement that was first presented to parliament in respect
of the reporting period (i.e. from the 2014-15 PBS).
Page 36 of 42
Australian Public Service Commission
Notes to the financial statements
2. Between the actual and original budgeted amounts for 2015. Explanations of major
variances are provided further below.
Page 37 of 42
Australian Public Service Commission
Notes to the financial statements
Statement of Changes in Equity
for the period ended 30 June 2015
Retained earnings
Actual
Budget Estimate
Original1 Variance2
2015
2015
2015
$’000
$’000
$’000
Opening balance
Comprehensive income
Surplus/(Deficit) for the
period
Total comprehensive
income
Asset revaluation surplus
Actual
Budget Estimate
Original1 Variance2
2015
2015
2015
$’000
$’000
$’000
Contributed equity/capital
Actual
Budget Estimate
Original1
Variance2
2015
2015
2015
$’000
$’000
$’000
Total equity
Budget Estimate
Original1 Variance2
2015
2015
2015
$’000
$’000
$’000
Actual
8,737
8,449
288
1,204
1,323
(119)
369
369
-
10,310
10,141
169
50
(1,122)
1,172
-
-
-
-
-
-
50
(1,122)
1,172
50
(1,122)
1,172
-
-
-
-
-
-
50
(1,122)
1,172
422
-
422
-
9,441
1,341
Transactions with owners
Contributions by owners
Departmental capital
422
422
422
budget
Total transactions with
owners
422
422
422
Closing balance
as at 30 June
8,787
7,327
1,204
1,323
791
791
1,460
(119)
- 10,782
1. The original budgeted financial statement that was first presented to parliament in respect of the reporting period (i.e. from the 2014-15 PBS).
2. Between the actual and original budgeted amounts for 2015. Explanations of major variances are provided further below.
Page 38 of 42
Australian Public Service Commission
Notes to the financial statements
Cash Flow Statement
for the period ended 30 June 2015
Actual
2015
$’000
Budget Estimate
Original1 Variance2
2015
2015
$’000
$’000
OPERATING ACTIVITIES
Cash received
Appropriations
Sale of goods and rendering of services
Net GST received
Other cash received
Total cash received
21,324
25,378
1,297
512
48,511
21,650
21,894
2,252
45,796
(326)
3,484
(955)
512
2,715
Cash used
Employees
Suppliers
Section 74 receipts transferred to OPA
Other cash used
Total cash used
Net cash from operating activities
27,327
16,290
3,350
650
47,617
894
27,519
17,635
45,154
642
(192)
(1,345)
3,350
650
2,463
252
187
237
424
(424)
242
822
1,064
(1,064)
(55)
(585)
(640)
640
422
422
422
422
422
422
-
892
-
892
490
450
40
1,382
450
932
INVESTING ACTIVITIES
Cash used
Purchase of property, plant and equipment
Purchase of intangibles
Total cash used
Net cash used by investing activities
FINANCING ACTIVITIES
Cash received
Contributed equity
Total cash received
Net cash from financing activities
Net decrease in cash held
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period
1. The original budgeted financial statement that was first presented to parliament in
respect of the reporting period (i.e. from the 2014-15 PBS).
2. Between the actual and original budgeted amounts for 2015. Explanations of major
variances are provided further below.
Page 39 of 42
Australian Public Service Commission
Notes to the financial statements
Note 18b: Departmental Major Budget Variances for 2015
Explanations of major variances
Affected line items (and statement)
Statement of Comprehensive Income:
- Employee benefits
Employee expenses are lower than budget due to
lower staffing levels throughout the year, primarily as a $1,249,000 lower than budget
result of the government interim recruitment
arrangements.
Supplier expenses are higher than budget, which is in - Suppliers
$1,206,000 higher than budget
line with the higher own-source income, where
additional resources are required to deliver higher than
expected levels of services in a number of business
areas, including development and training, panel
services and international assistance.
The total expenses is on budget.
The operating surplus variance is mainly due to lower
than budget staffing expenses. This variance is within
3% of the total expenses budget.
- Surplus/(Deficit)
$1,172,000 higher than budget
Statement of Financial Position:
The balances for both ‘Cash’ and ‘Other payables’ are - Cash
higher than budget due to the first fortnightly pay day
$932,000 higher than budget
for 2015-16 occurring on 1 July. Nine days of payroll is - Other payables
reported as ‘Other payables’ ($867,000), and the
$926,000 higher than budget
equivalent fund was drawn down in advance to the
payroll bank account.
‘Prepayments paid’ is lower than budget as the timing
of the Comcare premium payment (about $400,000)
has now been changed from June to July.
- Prepayments paid
$529,000 lower than budget
The ‘Supplier payables’ balance is lower than budget
as the accrual for nine days of payroll ($867,000) is
reported separately as ‘Other payables’, but was
originally budgeted under ‘Supplier payables’.
- Suppliers (payables)
$1,500,000 lower than budget
Receipts from customers are higher than budget due
to higher levels of ‘Sale of goods and rendering of
services’ revenue ($846,000), combined with a
decrease in ‘Trade and other receivables’
($2,848,000).
Cash Flow Statement:
- Sale of goods and rendering of services
$3,484,000 higher than budget
Payments to suppliers are lower than budget due to an - Suppliers
increase in ‘Suppliers payables’ ($1,500,000) and
$1,345,000 lower than budget
lower than planned payments of GST.
The level of section 74 receipts transferred to the OPA - Section 74 receipts transferred to OPA
varies according to the cash levels at the time of
$3,350,000 higher than budget
receipt.
The purchase of intangibles is lower than budget due
to a lower level of capital investment, partially as a
result of the transition to the Shared Service Centre
where there is less requirement to invest in systems.
Page 40 of 42
- Purchase of intangibles
$585,000 lower than budget
Australian Public Service Commission
Notes to the financial statements
Note 18c: Administered Budgetary Reports
Administered Schedule of Comprehensive Income
for the period ended 30 June 2015
Actual
2015
$’000
NET COST OF SERVICES
Expenses
Employee benefits
Total expenses
Budget Estimate
Original1 Variance2
2015
2015
$’000
$’000
61,338
61,338
61,963
61,963
(625)
(625)
2
2
2
-
2
2
2
Net cost of services
(61,336)
(61,963)
627
Total comprehensive loss
(61,336)
(61,963)
627
Income
Gains
Other gains
Total gains
Total income
1. The original budgeted financial statement that was first presented to parliament in
respect of the reporting period (i.e. from the 2014-15 PBS).
2. Between the actual and original budgeted amounts for 2015. Explanations of major
variances are provided further below.
Page 41 of 42
Australian Public Service Commission
Notes to the financial statements
Administered Cash Flow Statement
for the period ended 30 June 2015
Actual
2015
$’000
OPERATING ACTIVITIES
Cash received
Other
Total cash received
Budget Estimate
Original1 Variance2
2015
2015
$’000
$’000
2
2
-
2
2
Cash used
Employees
Total cash used
Net cash used by operating activities
61,338
61,338
(61,336)
61,963
61,963
(61,963)
(625)
(625)
627
Net decrease in cash held
(61,336)
(61,963)
627
-
-
-
61,338
61,338
61,963
61,963
(625)
(625)
2
(2)
-
2
(2)
-
-
-
Cash and cash equivalents at the beginning of the
reporting period
Cash from Official Public Account
Appropriations
Total cash from official public account
Cash to Official Public Account
Appropriations
Total cash to official public account
Cash and cash equivalents at the end of the
reporting period
1. The original budgeted financial statement that was first presented to parliament in
respect of the reporting period (i.e. from the 2014-15 PBS).
2. Between the actual and original budgeted amounts for 2015. Explanations of major
variances are provided further below.
Note 18d: Administered Major Budget Variances for 2015
Explanations of major variances
Employee expenses were within 1% of the original
budget.
Affected line items (and statement)
Statement of Comprehensive Income:
- Employee benefits
$625,000 lower than budget
Payments to employees were within 1% of the original
budget.
Cash Flow Statement:
- Employees
$625,000 lower than budget
Page 42 of 42