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Annual Report 2006

ANNUAL REPORT 2006

STATEMENT OF FINANCIAL PERFORMANCE
for the year ended 30 June 2006

Budget
2006
$

 

Note

Actual
2006
$

Actual
2005
$
 

Operating income
1,344,000

Government grant - baseline funding

 

 1,344,000

1,072,000

9,500

Interest

 

 23,133

9,427
502,900

Application fees and costs recoverable

6

 399,896

483,492
1,000

Bad debts and associated costs recovered

 

 -

2,292

1,857,400

Total operating income

 

1,767,029

1,567,211

 

Income for litigation fund
-

Government grant

5

35,000

 -

48,600

Interest

5

47,439

48,594

48,600

Total litigation fund income

 

 82,439

48,594

1,906,000

Total income

 

1,849,468

1,615,805

 

Operating expenditure
6,500

Audit fees

 

 6,755

5,500
200

Debt collection fees

 

 -

3,164
38,000

Communication charges

 

 21,498

38,584
390,000

Members’ fees

4

 337,373

364,592
27,800

Printing and stationery

 

 24,853

27,754
120,000

Consultants and legal

 

 123,998

117,498
31,600

Services and supplies

 

 40,340

28,972
80,000

Travel and accommodation

 

 56,297

91,083
1,108,250

Securities Commission services

3

 1,115,956

888,626

1,802,350

Total operating expenditure

 

1,727,070

1,565,773
-

Expenditure on litigation fund matters

 5 152,513

-

1,802,350

Total expenditure

 

1,879,583

1,565,773

$103,650

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

 

$(30,115)

$50,032
  This is comprised of:      
55,050 Operating surplus (deficit)   39,959 1,438
48,600 Litigation fund surplus (deficit)   (70,074) 48,594
$103,650     $(30,115) $50,032
         

 

STATEMENT OF FINANCIAL POSITION
as at 30 June 2006

Budget
2006
$

 

Note

Actual
2006
$

Actual
2005
$

 

Current assets
69,269

Cash

 

 17,333

9,610
- Cash – litigation fund   3,484 -
300,000

Short term deposits - other

 

 261,399

322,897
749,307

Short term deposit - litigation fund

 

 597,308

700,707
-

Interest receivable - other

 

 1,112

-
8,164

Interest receivable - litigation fund

 

 3,005

8,164
- GST receivable   35,439 -
92,183

Sundry debtors and prepayments

 

 146,645

111,075
(10,000)

Less provision for bad debts

 

 (10,000)

(10,000)

1,208,923

Total current assets

 

1,055,725

1,142,453

$1,208,923

Total assets

 

$1,055,725

$1,142,453

 

Current liabilities
70,000

Creditors and accruals

 

 70,567

105,800
20,000

GST payable

 

 -

21,380

90,000

Total current liabilities

 

70,567

127,180

 

Equity
361,452

Accumulated funds

 

 346,361

306,402
757,471

Litigation fund

5

 638,797

708,871

1,118,923

Total equity

 

985,158

1,015,273

$1,208,923

Total equity and liabilities

 

$1,055,725

$1,142,453



The accompanying notes form part of these financial statements.