Australian Heritage Commission Annual Report 1999-2000
Australian Heritage Commission, 2000
ISSN 0155–1434
Financial statements and Australian National Audit Ofice Report
Independent Audit Report
To the Minister for the Environment and Heritage
Scope
I have audited the financial statements of the Australian Heritage Commission for the year ended 30 June 2000. The financial statements comprise:
- Statement by Directors;
- Operating Statement;
- Balance Sheet;
- Statement of Cash Flows;
- Schedule of Commitments;
- Schedule of Contingencies; and
- Notes to and forming part of the Financial Statements
The Commissioners of the Australian Heritage Commission are responsible for the preparation and presentation of the financial statements and the information they contain. I have conducted an independent audit of the financial statements in order to express an opinion on them to you.
The audit has been conducted in accordance with Australian National Audit Office Auditing Standards, which incorporate the Australian Auditing Standards, to provide reasonable assurance as to whether the financial statements are free of material misstatement. Audit procedures included examination, on a text basis, of evidence supporting the amounts and other disclosures in the financial statements, and the evaluation of accounting policies and significant accounting estimates. These procedures have been undertaken to form an opinion as to whether, in all material respects, the financial statements are presented fairly in accordance with Australian Accounting Standards, other mandatory professional reporting requirements and statutory requirements in Australia so as to present a view of the entity which is consistent with my understanding of its financial position, the results of its operations and its cash flows.
The audit opinion expressed in this report has been formed on the above basis.
Audit opinion
In my opinion:
- the financial statements have been prepared in accordance with Schedule 2 of the Finance Minister's Orders, and
- the financial statements give a true and fair view, in accordance with applicable Accounting Standards, other mandatory professional reporting requirements and Schedule 2 of the Finance Minister's Orders, of the financial position of the Australian Heritage Commission as at 30 June 2000 and the results of its operations and its cash flows for the year then ended.
Australian National Audit Office
Puspa Dash
Senior Director
Delegate of the Auditor-General
Canberra
20 September 2000
STATEMENT BY DIRECTORS
In our opinion, the attached financial statements give a true and fair view of the matters required by Schedule 2 of the Finance Minister’s Orders made under the Commonwealth Authorities and Companies Act 1997
[signed]
Mr P King
Chairman
19 September 2000
[signed]
Ms J Chatfield
Commissioner
19 September 2000
Operating Statement
for the year ended 30 June 2000
| Notes | 2000 $ |
1999 $ |
|
|---|---|---|---|
| Operating revenues | |||
| Revenues from government | 5A | 9,722,234 | 8,740,357 |
| Interest | 5B | 168,813 | 193,027 |
| Other | 5C | 1,017,895 | 38,524 |
| Total Operating Revenues | 10,908,942 | 8,971,908 | |
| Operating Expenses | |||
| Employees | 6A | 5,330,252 | 5,701,032 |
| Suppliers | 6B | 3,867,117 | 4,491,772 |
| Depreciation and amortisation | 6C | 278,976 | 328,833 |
| Write Down of Assets | 6D | - | 66,778 |
| Grants | 7 | 941,628 | 1,010,764 |
| Loss from sale of assets | 6E | 115,326 | 789 |
| Total operating expenses | 10,533,299 | 11,599,968 | |
| Net Surplus/ (deficit) | 375,643 | (2,628,060) | |
| Net surplus/ (deficit) attributed to the Commonwealth | 375,643 | (2,628,060) | |
| Accumulated surpluses at beginning of reporting period | 2,311,849 | 4,939,909 | |
| Accumulated Surpluses at end of reporting period | 2,687,492 | 2,311,849 |
The above statement should be read in conjunction with the accompanying notes
Balance Sheet
as at 30 June 2000
| Notes | 2000 $ |
1999 $ |
|
|---|---|---|---|
| Assets | |||
| Financial Assets | |||
| Cash | 8A | 4,356,806 | 3,132,725 |
| Receivables | 8B | 136,805 | 289,060 |
| Total financial assets | 4,493,611 | 3,421,785 | |
| Non-financial assets | |||
| Infrastructure, plant and equipment | 9A, B | 193,822 | 280,238 |
| Inventories | 9C | 12,546 | 14,616 |
| Intangibles | 9D, B | 107,765 | 302,108 |
| Other | 9E | 5,870 | 1,578 |
| Total non-financial assets | 320,003 | 598,540 | |
| Total assets | 4,813,614 | 4,020,325 | |
| Liabilities | |||
| Provisions and payables | |||
| Employees | 10A | 1,624,010 | 1,509,173 |
| Suppliers | 10B | 224,653 | 199,303 |
| Grants | 10C | 37,500 |
- |
| Other liabilities | 10D | 229,447 | - |
| Total provisions and payables | 2,115,610 | 1,708,476 | |
| Total liabilities | 2,115,610 | 1,708,476 | |
| Equity | |||
| Reserves | 11 | 10,512 | - |
| Accumulated surplus | 11 | 2,687,492 | 2,311,849 |
| Total equity | 2,698,004 | 2,311,849 | |
| Total liabilities and equity | 4,813,614 | 4,020,325 | |
| Current liabilities | 1,267,025 | 993,462 | |
| Non-current liabilities | 848,585 | 715,014 | |
| Current assets | 4,512,027 | 3,437,979 | |
| Non-current assets | 301,587 | 582,346 |
The above statement should be read in conjunction with the accompanying notes
Statement of cash flows
for the year ended 30 June 2000
| Notes | 2000 $ |
1999 $ |
|
|---|---|---|---|
| Operating Activities | |||
| Cash received | |||
| Appropriations | 7,543,000 | 6,654,000 | |
| Interest | 168,813 | 193,027 | |
| Royalties | 4,481 | 20,675 | |
| Refunds | 742,754 | - | |
| Revenue from other government organisations | 253,656 | - | |
| Other | 169,258 | 2,782 | |
| Total cash received | 8,881,962 | 6,870,484 | |
| Cash used | |||
| Suppliers | (1,696,978) | (2,365,004) | |
| Employees | (5,183,191) | (5,438,251) | |
| Grants | (674,681) | (1,654,288) | |
| Total cash used | (7,554,850) | (9,457,543) | |
| Net cash from operating activities | 12 | 1,327,112 | (2,587,059) |
| Investing Activities | |||
| Cash received | |||
| Proceeds from sales of property, plant & equipment | - | 5 | |
| Total cash received | - | 5 | |
| Cash used | |||
| Payments for property, plant & equipment | (103,031) | (68,470) | |
| Total cash used | (103,031) | (68,470) | |
| Net cash from investing activities | (103,031) | (68,470) | |
| Net increase in cash held | 1,224,081 | (2,655,523) | |
| Cash at the beginning of the reporting period | 3,132,725 | 5,788,248 | |
| Cash at the end of the reporting period | 8A | 4,356,806 | 3,132,725 |
The above statement should be read in conjunction with the accompanying notes
Schedule of Commitments
as at 30 June 2000
NB: All 1999-00 commitments are GST inclusive where relevant. The comparatives have not been adjusted to reflect the GST.
As at 30 June 2000, project commitments consisted of grant projects which have not been delivered.
As at 30 June 2000, other commitments comprise of purchase orders entered into SAP but no goods have been received.
The above statement should be read in conjunction with the accompanying notes
Schedule of Contingencies
as at 30 June 2000
| Notes | 2000 $ |
1999 $ |
|
|---|---|---|---|
| Contingent Losses | - | - | |
| Contingent Gains | - | - | |
| Net contingencies | - | - |
Schedule of unquantifiable contingencies
At 30 June 2000, the Commission had four legal matters outstanding.
Two relate to the objections by owners to the listing of particular places and the Commission's authority to make the final decision on such objects. The Commission is defending the claims. It is not possible to estimate the amounts of any eventual payments, which may be required in relation to these claims. One matter relates to the release of documents under the Freedom on Information Act, and the final matter relates to the recovery of funds following the termination of a grant.
The above statement should be read in conjunction with the accompanying notes.
Key
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