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Companies and Securities Advisory Committee

• Notes to the Financial Statements

Section 3: Budgeted Financial Statements

The budgeted financial statements will form the basis of the financial statements that will appear in the CASAC 2000-01 Annual Report, and form the basis for the input into the Whole of Government Accounts. The financial statements should be read in conjunction with the accompanying notes.

The budgeted financial statements have been prepared in accordance with the GST accounting guidelines of the Urgent Issues Group (UIG) of the Australian Accounting Research Foundation. The UIG consensus requires that expenses and assets be accounted for net of recoverable GST, revenues be accounted for net of GST payable and that cash flows and accounts payable and receivable be reported gross. Appropriations are thus net of recoverable GST amounts.

Budget Statement of Revenues and Expenses (Budget Operating Statement)

This statement provides a picture of the expected financial results for CASAC by identifying full accrual expenses and revenues, which highlights whether CASAC is operating at a sustainable level.

Budget Statement of Assets and Liabilities (Budget Balance Sheet)

This statement shows the financial position of CASAC. It enables decision-makers to track the management of CASAC's assets and liabilities.

Budget Cash Flow Statement

This statement identifies expected cash flows from operating activities, investing activities and financing activities.

Capital Budget Statement

This statement shows all proposed capital expenditure funded through the Budget as appropriations or from internal sources.

Non-financial Assets - Summary of Movement

This statement shows the movement in CASAC's non-financial assets over the Budget year 2000-01.

Table 3.1: Agency Budget Statement of Revenues and Expenses
(for the period ended 30 June)

	Estimated Actual 1999-00 $'000	Budget Estimate 2000-01 $'000	Forward Estimate 2001-02 $'000	Forward Estimate 2002-03 $'000	Forward Estimate 2003-04 $'000
Operating revenue
Revenues from Government	818	851	853	876	898
Interest	28	25	25	25	25
Total operating revenues	846	876	878	901	923
Operating expenses
Employees	402	396	394	405	409
Suppliers	361	389	391	399	410
Depreciation and amortisation	47	60	62	66	73
Total operating expenses	810	845	847	870	892
Operating surplus or deficit after abnormal and extraordinary items	36	31	31	31	31
Capital use charge paid	36	31	31	31	31
Operating surplus or deficit after abnormal and extraordinary items and CUC	-	-	-	-	-

Table 3.2: Agency Budget Statement of Assets and Liabilities
(as at 30 June)

	Estimated Actual 1999-00 $'000	Budget Estimate 2000-01 $'000	Forward Estimate 2001-02 $'000	Forward Estimate 2002-03 $'000	Forward Estimate 2003-04 $'000
Assets
Financial assets
Cash	239	230	185	173	180
Receivables	21	23	20	21	21
Total financial assets	260	253	205	194	201
Non-financial assets
Land and buildings	8	7	5	4	3
Infrastructure, plant and equipment	144	152	168	178	181
Other	36	36	37	37	37
Total non-financial assets	188	195	210	219	221
Total assets	448	448	415	413	422
Liabilities
Debt
Leases	52	32	12	-	-
Total debt	52	32	12	-	-
Provisions and payables
Employees	111	114	121	129	137
Suppliers	30	47	27	29	30
Total provisions and payables	141	161	148	158	167
Total liabilities	193	193	160	158	167
Equity
Reserves	10	10	10	10	10
Accumulated surplus or deficit	245	245	245	245	245
Total equity	255	255	255	255	255
Current liabilities	100	113	86	77	79
Non-current liabilities	93	80	74	81	88
Current assets	297	290	242	231	238
Non-current assets	151	158	173	182	184

Table 3.3: Agency Budget Cash Flow Statement
(for the period ended 30 June)

	Estimated Actual 1999-00 $'000	Budget Estimate 2000-01 $'000	Forward Estimate 2001-02 $'000	Forward Estimate 2002-03 $'000	Forward Estimate 2003-04 $'000
Operating activities
Cash received
Appropriations for outputs	818	851	853	876	898
Interest	28	25	25	25	25
Total cash received	846	876	878	901	923
Cash used
Employees	402	392	382	397	401
Suppliers	440	424	463	439	438
Total cash used	842	816	845	836	839
Net cash from operating activities	4	60	33	65	84
Investing activities
Cash received
Proceeds from sales of property, plant and equipment	1	-	-	-	-
Total cash received	1	-	-	-	-
Cash used
Purchase of property, plant and equipment	69	69	78	77	77
Total cash used	69	69	78	77	77
Net cash from investing activities	-68	-69	-78	-77	-77
Financing activities	-	-	-	-	-
Cash received	-	-	-	-	-
Total cash received	-	-	-	-	-
Cash used	-	-	-	-	-
Total cash used	-	-	-	-	-
Net cash from financing activities	-	-	-	-	-
Net increase in cash held	-64	-9	-45	-12	7
Cash at the beginning of the reporting period	303	239	230	185	173
Cash at the end of the reporting period	239	230	185	173	180

Table 3.4: Agency Capital Budget Statement
(for the period ended 30 June)

	Estimated Actual 1999-00 $'000	Budget Estimate 2000-01 $'000	Forward Estimate 2001-02 $'000	Forward Estimate 2002-03 $'000	Forward Estimate 2003-04 $'000
Purchase of non-funded current assets
Funded by capital appropriations	-	-	-	-	-
Funded internally by agency resources	69	69	78	77	77

Table 3.5: Agency Non-financial Assets - Summary of Movement

	Land $'000	Buildings $'000	Total Land and Buildings $'000	Other Infrastructure, Plant and Equipment $'000	Total Infrastructure, Plant and Equipment $'000	Intangibles $'000	Total $'000
Gross value
As at 1 July 2000 (opening)	-	19	19	378	378	-	397
Additions	-	-	-	69	69	-	69
Disposals	-	-	-	-6	-6	-	-6
As at 30 June 2001 (closing)	-	19	19	441	441	-	460
Accumulated depreciation
As at 1 July 2000 (opening)	-	11	11	234	234	-	245
Disposals	-	-	-	-4	-4	-	-4
Charge for the reporting period	-	1	1	59	59	-	60
As at 30 June 2001 (closing)	-	12	12	289	289	-	301
Net book value as at 30 June 2001 (Closing book value)	-	7	7	152	152	-	159
Net book value as at 1 July 2000 (Opening book value)	-	8	8	144	144	-	152

Total additions

Self funded	-	-	-	69	69	-	69
Appropriations	-	-	-	-	-	-	-
Total	-	-	-	69	69	-	69

Notes to the Financial Statements

Agency Budget Statement of Revenues and Expenses

Expenses

Employee Expenses

These expenses are fairly fixed due to the maintenance of current staff numbers over the reporting period.

Depreciation and Amortisation Expenses

There is an increase over the reporting period due mainly to the acquisition of infrastructure, plant and equipment - mainly library books.