Financial Statements

Operating statement

For the year ended 30 June 2016 2015-16
$'000
2014-15
$'000
Income from transactions
Revenue from government* 92,267 80,219
Sales of goods and services 756 405
Payments to consolidated fund (1,775) (1)
Total income from transactions 91,248 80,623
Expenses from transactions
Employee benefits 48,462 50,210
Supplies and services 19,732 16,101
Depreciation and amortisation 18,683 8,465
Grants and other transfers 4,754 4,621
Capital asset charge 28 84
Interest expenses 3 448
Total expenses from transactions 91,662 79,929
Net result from transactions (414) 694
Other economic flows in net result
Net gains / (losses) on financial instruments (2) -
Net gains / (losses) on non-financial assets 9 7
Other gains / (losses) on other economic flows (679) (58)
Total other economic flows in net result (672) (51)
Net surplus/(deficit) for reporting period (1,086) 643
* Revenue from government represents the output budget allocated to SRO

Notes to the operating statement

  • The decrease of $1.748 million in employee benefits was mainly due to the reclassification of labour contractor costs of $4.617 million to supplies and services in 2015-16, which was partly offset by the increase in workforce size and the general wages increase. This change forms the primary reason for the increase in supplies and services.
  • The increase of $10.218 million in depreciation and amortisation was mainly due to an increase in amortisation expenses related to municipal valuations. Municipal valuations are amortised for up to two years and due to the timing of purchases the amortisation expense is always higher in the second year of the cycle. 2015-16 was the second year of the two-year cycle.
  • Grants and other transfers consist of payments made to municipal councils in relation to the administration of the Fire Service Property Levy, which were based on the Treasurer’s determination under s70 of the Fire Services Property Levy Act 2012.
  • Expenses from transactions include $0.602 million in relation to the administration of the Growth Area Infrastructure Contribution and Metropolitan Planning Levy. Costs recovered from the relevant trust funds were reported as sales of goods and services.

Administered items

Administered revenues

Administered revenues 2015-16 $'000 2014-15 $'000
Payroll tax 5,948,733 5,681,309
Duties* 7,000,745 6,034,735
Land tax 1,792,873 1,754,156
Congestion Levy 102,053 110,603
Growth Areas Infrastructure Contribution 149,352 128,767
Metropolitan Planning Levy 19,832 2
Fire Services Property Levy 674,063 588,478
Licence fees 22,026 22,544
Total 15,709,677 14,320,594
Less: Cattle Compensation Fund (4,985) (4,161)
Less: Swine Compensation Fund (189) (179)
Less: Sheep and Goat Compensation Fund (1,296) (1,404)
Add: Unclaimed money receipts 96,491 90,825
Add: User charges 3,232 3,251
Add: Sundry income 1,187 902
Total administered revenues 15,804,117 14,409,828
* Includes Cattle Compensation Fund, Swine Compensation Fund and Sheep & Goat Compensation Fund

Administered expenses

Work in progress** 1,560 2,359 Total written-down value of intangible assets 7,601 21,648 *All municipal valuations will be fully amortised by 30 June 2016
** Capitalised and uncapitalised expenditure on e-Sys Life Extension Project

Other non-financial assets

Other non-financial assets 2015-16
$'000
2014-15
$'000
Prepayments 1,594 1,464
Motor vehicle leased 275 212
Total other non-financial assets 1,869 1,676

Payables

Current payables 2015-16
$'000
2014-15
$'000
Unpresented cheques 559 66
Trade creditors 2,071 956
Accruals 4,939 4,627
Other payables 2,733 3,671
Total payables 10,302 9,320

Interest-bearing liabilities

Interest-bearing liabilities 2015-16
$'000
2014-15
$'000
Current liabilities
Motor vehicle leases 131 139
Total current liabilities 131 139
Non-current liabilities
Motor vehicle leases 146 75
Total non-current liabilities 146 75
Total interest-bearing liabilities 277 214

Provisions

Provisions 2015-16
$'000
2014-15
$'000
Current provisions
Annual leave 2,841 2,678
Long service leave 9,497 8,077
Other Employee Entitlements 1,500 1,698
Total current provisions 13,838 12,453
Non-current provisions
Long service leave 1,304 1,178
Total non-current provisions 1,304 1,178
Total provisions 15,142 13,631