Departmental Forecast Report
for the year ending 30 June 2001
Part B - Departmental Forecast Financial Statements
Statement of Forecast Financial Performance
for the Year Ending 30 June 2001
| 1999/00 Budgeted $000 |
1999/00 Estimated actual $000 |
2000/01 Budget $000 | |
|---|---|---|---|
| Revenue | |||
| Crown | 8,069 | 8,069 | 8,069 |
| Other | 30 | 20 | 30 |
| Interest | 30 | 40 | 30 |
| Total Revenue | 8,129 | 8,129 | 8,129 |
| Expenses | |||
| Output Expenses: | |||
| Personnel | 4,270 | 4,170 | 4,371 |
| Operating | 3,192 | 3,142 | 3,091 |
| Depreciation | 481 | 481 | 481 |
| Capital charge | 156 | 156 | 156 |
| Total Output Expenses | 8,099 | 7,949 | 8,099 |
| Net Surplus/(Deficit) | 30 | 180 | 30 |
Statement of Estimated Financial Position
as at 30 June 2000 and Forecast Financial Position as at 30 June 2001
| Actual Financial Position as at 30 June 1999 $000 |
Estimated Financial Position as at 30 June 2000 $000 |
Forecast Financial Position as at 30 June 2001 $000 |
|
|---|---|---|---|
| Assets | |||
| Current Assets | |||
| Cash and bank balances | 419 | 225 | 184 |
| Short term deposits with the Crown | 900 | 1,300 | 1,200 |
| Prepayments | 121 | 84 | 84 |
| Receivables and advances | 60 | 2 | 2 |
| Total Current Assets | 1,500 | 1,611 | 1,470 |
| Non-current Assets | |||
| Physical assets | 1,141 | 934 | 925 |
| Total Non-current Assets | 1,141 | 934 | 925 |
| Total Assets | 2,641 | 2,545 | 2,395 |
| Liabilities | |||
| Current Liabilities | |||
| Payables and provisions | 402 | 335 | 335 |
| Provision for payment of surplus | 206 | 180 | 30 |
| Provision for employee entitlements | 223 | 220 | 220 |
| Total Current Liabilities | 831 | 735 | 585 |
| Term Liabilities | |||
| Other term liabilities | 255 | 255 | 255 |
| Total Term Liabilities | 255 | 255 | 255 |
| Total Liabilities | 1,086 | 990 | 840 |
| Taxpayers' Funds | |||
| General Funds | 1,555 | 1,555 | 1,555 |
| Total Taxpayers' Funds | 1,555 | 1,555 | 1,555 |
| Total Liabilities and Taxpayers' Funds | 2,641 | 2,545 | 2,395 |
Statement of Cash Flows
for the Year Ending 30 June 2001
| 1999/00 Budgeted $000 |
1999/00 Estimated actual $000 |
2000/01 Budget $000 |
|
|---|---|---|---|
| Cash Flows from Operating Activities | |||
| Cash provided from: | |||
| Supply of outputs to: | |||
| Crown | 8,069 | 8,069 | 8,069 |
| Other | 30 | 20 | 30 |
| Interest | 30 | 40 | 30 |
| Cash disbursed to: | |||
| Cost of producing outputs: | |||
| Output expenses | (7,435) | (7,287) | (7,462) |
| Capital charge | (156) | (156) | (156) |
| Net Cash Flows from Operating Activities | 538 | 686 | 511 |
| Cash Flows from Investing Activities | |||
| Cash provided from: | |||
| Sale of physical assets | 45 | 61 | 28 |
| Cash disbursed to: | |||
| Purchase of physical assets | (300) | (335) | (500) |
| Net Cash Flows from Investing Activities | (255) | (274) | (472) |
| Cash Flows from Financing Activities | |||
| Cash disbursed to: | |||
| Payment of surplus to the Crown | (206) | (206) | (180) |
| Capital repayments | - | - | - |
| Net Cash Flows from Financing Activities | (206) | (206) | (180) |
| Net Increase/(Decrease) in Cash Held | 77 | 206 | (141) |
| Opening total cash balances at 1 July | 1,319 | 1,319 | 1,525 |
| Closing Total Cash Balances at 30 June projected | 1,396 | 1,525 | 1,384 |
Reconciliation of Net Cash Flows from Operating Activities to Net Surplus/(Deficit) in the Statement of Financial Performance
for the Year Ending 30 June 2001
| 1999/00 Budgeted $000 |
1999/00 Estimated actual $000 |
2000/01 Budget $000 |
|
|---|---|---|---|
| Operating Surplus/(Deficit) | 30 | 180 | 30 |
| Add/(deduct) non-cash expenses/(revenues) from Statement of Financial Performance |
|||
| Depreciation | 481 | 481 | 481 |
| Add/(deduct) non-cash working capital reductions/(increases) from Statement of Financial Position | |||
| (Increase)/decrease in receivables and advances | 58 | 58 | - |
| (Increase)/decrease in prepayments | 37 | 37 | - |
| Increase/(decrease) in payables and provisions | (70) | (70) | - |
| Other items | 2 | - | - |
| Items classified as investing activities | |||
| Net (gain)/loss on sale of physical assets | - | - | - |
| Net Cash Flows from Operating Activities | 538 | 686 | 511 |
Statement of Movements in Taxpayers' Funds (Equity)
as at 30 June 2001
| Estimated Position as at 30 June 2000 $000 |
Forecast Position as at 30 June 2001 $000 |
|
|---|---|---|
| Taxpayers' funds at start of period | 1,555 | 1,555 |
| Movements during the year (other than flows to and from the Crown) | ||
| Add net surplus | 180 | 30 |
| Total recognised revenues and expenses for the period | 180 | 30 |
| (Deduct) distributions to the Crown during the period | ||
| Provision for payment of surplus to the Crown | (180) | (30) |
| Taxpayers' Funds at the end of the period | 1,555 | 1,555 |
Forecast Details of Fixed Assets by Category
as at 30 June 2001
| 30 June 2000 | 30 June 2001 Projected Position
| |||
|---|---|---|---|---|
| Estimated actual Position $000 |
Cost $000 |
Accumulated Depreciation $000 |
Net Book Value $000 | |
| Furniture and Fittings | 19 | 1,145 | 1,111 | 34 |
| Plant and Equipment | 255 | 1,571 | 1,304 | 267 |
| Motor Vehicles | 79 | 118 | 39 | 79 |
| Leasehold Improvements | 344 | 512 | 88 | 424 |
| Financial and Management Information Systems |
237 | 540 | 419 | 121 |
| Total | 934 | 3,886 | 2,961 | 925 |
Financial Performance Forecast
for the Year Ending 30 June 2001
| Unit | 1999/00 Budgeted |
1999/00 Estimated Actual |
2000/01 Budget |
|
|---|---|---|---|---|
| Operating Results | ||||
| Revenue: other | $000 | 30 | 20 | 30 |
| Revenue: interest | $000 | 30 | 40 | 30 |
| Output expenses | $000 | 8,099 | 7,949 | 8,099 |
| Operating surplus before capital charge | $000 | 186 | 336 | 186 |
| Net surplus (deficit) | $000 | 30 | 180 | 30 |
| Working Capital | ||||
| Net current assets | $000 | 897 | 876 | 885 |
| Current ratio | Ratio | 2.53:1 | 2.19:1 | 2.51:1 |
| Liquid ratio | Ratio | 4.17:1 | 4.55:1 | 4.13:1 |
| Average creditors outstanding | Days | 37 | 36 | 38 |
| Resource Utilisation | ||||
| Physical assets: | ||||
| Total physical assets at year end | $000 | 913 | 934 | 925 |
| Additions as % of physical assets | % | 33 | 36 | 54 |
| Taxpayers' funds: | ||||
| Level at year end | $000 | 1,555 | 1,555 | 1,555 |
| Forecast Net Cash Flows | ||||
| Surplus/(deficit) operating activities | $000 | 538 | 686 | 511 |
| Surplus/(deficit) investing activities | $000 | (255) | (274) | (472) |
| Surplus/(deficit) financing activities | $000 | (206) | (206) | (180) |
| Net increase/(decrease) in cash held | $000 | 77 | 206 | (141) |
| Human Resources | ||||
| Total staff (as at 30 June) | No. | 70 | 70 | 70 |
