Financial Statements

Please note: Financial statements (with the exception of the major budget variations table) are only available in PDF format 

Independent auditor’s report

Certification

Financial statements

Primary financial statements

  • Statement of comprehensive income
  • Statement of financial position
  • Statement of changes in equity
  • Cash flow statement
  • Administered schedule of comprehensive income
  • Administered schedule of assets and liabilities
  • Administered reconciliation schedule
  • Administered cash flow statement

Overview

Notes to the financial statements

  • Financial performance
  1. Expenses
  2. Own-source revenue and gains
  • Financial position
  1. Financial assets
  2. Non-financial assets
  3. Payables
  • People and relationships
  1. Employee provisions
  2. Key management personnel remuneration
  3. Related party disclosures
  • Funding
  1. Appropriations
  2. Unspent annual appropriations (‘recoverable GST exclusive’)
  3. Disclosures by agent in relation to special appropriations (‘recoverable GST exclusive’)
  4. Special account
  5. Net cash appropriation arrangements
  • Managing uncertainties
  1. Financial instruments
  2. Fair value
  • Expenses administered on behalf of government
  1. Administered expenses
  • Assets and liabilities administered on behalf of government
  1. Administered financial assets
  2. Administered payables
  3. Administered financial instruments

Major budget variances

This section provides explanations for major budget variances between the department’s budget and actual results for the year ended 30 June 2018.

Note 20 Departmental budget variances commentary

Explanations of major variances Affected statements and line items

Employee benefits

 

Employee benefits were lower than originally budgeted as a number of positions remained vacant throughout the reporting period due to delays in recruitment processes. This resulted in a lower average staffing level than was budgeted. In addition original budgets predicted the new enterprise agreement and resultant pay rise would come into effect prior to the commencement of the financial year, however the agreement was not enacted until December 2017.

Statement of Comprehensive Income:

  • Employee benefits expense

Statement of Financial Position:

  • Employee provisions
  • Trade and other receivables (in respect of undrawn appropriation)

Cash Flow Statement:

  • Operating cash used—employees
  • Operating cash received—appropriations

Travel expenses and parliamentary capacity programs expenses and revenue

Travel expenses are driven by activities carried out in support of the parliament and its committees. During the reporting period there was less requirement to travel across committees and the International Parliamentary Relations Office than was forecast. In addition, the work on the parliamentary capacity-building program in Fiji was delayed and consequently the contract was extended resulting in budgeted expenditure being held over until after the completion of the reporting period. Work in support of the Pacific Women’s Parliamentary Partnerships program was completed under budget and excess funds were returned to DFAT.

Statement of Comprehensive Income:

  • Suppliers expense
  • Other revenue

Statement of Financial Position:

  • Other payables (unearned income)

Cash Flow Statement:

  • Operating cash used—suppliers
  • Operating cash received—appropriations
  • Operating cash received—revenue from external sources

Transfer of assets to DPS

 

During the reporting period the department transferred computer software assets to DPS under an arrangement to consolidate information and communications technology assets across the parliament. This transfer was not known at the time of budgeting.

Statement of Financial Position:

  • Computer software

Statement of Changes in Equity

  • Contributed equity—transactions with owners

Furniture project

 

Expenditure on the department’s furniture replacement project was less than budgeted due to the utilisation of bulk purchasing arrangements resulting in lower per item cost.

Statement of Financial Position:

  • Non-financial assets—plant and equipment

Cash Flow Statement:

  • Investing cash used—purchase of property, plant and equipment

 

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