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Annual Report 2005

ANNUAL REPORT 2005

STATEMENT OF FINANCIAL PERFORMANCE
for the year ended 30 June 2005

Budget
2005
$

 

Note

Actual
2005
$

Actual
2004
$
 

Operating income
904,889

Government grant - baseline funding

 

 1,072,000

904,889
8,700

Interest

 

 9,427

8,700
412,000

Application fees and costs recoverable

6

 483,492

410,839
5,000

Bad debts and associated costs recovered

 

 2,292

33,438

1,330,589

Total operating income

 

1,567,211

1,357,866

 

Income for litigation fund matters

38,000

Interest

 

 48,594

37,378

38,000

Total litigation fund income

 

 48,594

37,378

1,368,589

Total income

 

1,615,805

1,395,244

 

Operating expenditure
3,500

Audit fees

 

 5,500

3,500
1,000

Debt collection fees

 

 3,164

12,981
26,000

Communication charges

 

 38,584

26,322
305,000

Members’ fees

4

 364,592

288,283
23,500

Printing and stationery

 

 27,754

22,792
72,000

Consultants and legal

 

 117,498

72,701
33,300

Services and supplies

 

 28,972

32,469
58,000

Travel and accommodation

 

 91,083

57,608
-

Use of assets

1

 -

25,177
886,600

Securities Commission services

3

 888,626

842,339
1,408,900

Total operating expenditure

 

 1,565,773

1,384,172
-

Expenditure on litigation fund matters

 5 -

23,386

1,408,900

Total expenditure

 

1,565,773

1,407,558

$(40,311)

Net surplus / (deficit) including litigation fund net income/(expenditure)

 

$50,032

$(12,314)
  This is comprised of:      
(78,311) Operating surplus / (deficit)   1,438 (26,306)
38,000 Litigation fund surplus   48,594 13,992
$(40,311)     $50,032 $(12,314)
         

 

STATEMENT OF FINANCIAL POSITION
as at 30 June 2005

Budget
2005
$

 

Note

Actual
2005
$

Actual
2004
$

 

Current assets
13,159

Cash

 

 9,610

6,959
190,705

Short term deposits - other

 

 322,897

235,024
791,277

Short term deposit - litigation fund

 

 700,707

747,448
87

Interest receivable - other

 

 -

87
-

Interest receivable - litigation fund

 

 8,164

5,829
80,000

Sundry debtors and prepayments

 

 111,075

120,192
(10,000)

Less provision for bad debts

 

 (10,000)

(10,000)

1,065,228

Total current assets

 

1,142,453

1,105,539

$1,065,228

Total assets

 

$1,142,453

$1,105,539

 

Current liabilities
40,270

Creditors and accruals

 

 105,800

40,270
7,028

GST payable

 

 21,380

7,028

47,298

Total current liabilities

 

127,180

47,298

 

Equity
226,653

Accumulated funds

 

 306,402

304,964
791,277

Litigation fund

5

 708,871

753,277

1,017,930

Total equity

 

1,015,273

1,058,241

$1,065,228

Total equity and liabilities

 

$1,142,453

$1,105,539



The accompanying notes form part of these financial statements.