Statement of Intent 1 July 2003 - 30 June 2004

Part 2: Departmental forecast report (continued)

	Estimated Position as at 30 June 2003 $000	Forecast Position as at 30 June 2004 $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	35	-
Total recognised revenues and expenses for the period	35	-
Adjustments for flows to and from the Crown
Provision for payment of surplus to the Crown	(35)	-
*Taxpayers' funds at the end of the period*	*1,555*	*1,555*

	Actual Financial Position as at 30 June 2002 $000	Estimated Financial Position as at 30 June 2003 $000	Forecast Financial Position as at 30 June 2004 $000
Taxpayers' funds
General funds	1,555	1,555	1,555
*Total taxpayers' funds*	*1,555*	*1,555*	*1,555*
Represented by: Current assets
Cash and bank balances	1,711	1,656	1,631
Prepayments	37	14	14
Receivables and advances	1,286	2	2
Total current assets	3,034	1,672	1,647
Non-current assets
Property, plant and equipment	666	576	566
Total non-current assets	666	576	566
*Total assets*	3,700	2,248	2,213
Current liabilities
Payables and provisions	1,034	335	335
Provision for payment of surplus	758	35	-
Provision for employee entitlements	187	200	200
*Total current liabilities*	1,979	570	535
Non-current liabilities
Provision for employee entitlements	166	123	123
*Total liabilities*	2,145	693	658
*Net assets*	1,555	1,555	1,555

	2002/03 Budgeted $000	2002/03 Estimated actual $000	2003/04 Budget $000
Cash flows from operating activities Cash provided from:
Supply of outputs to:
Crown	8,297	7,897	8,053
Other	3,990	3,990	1,866
Interest	-	35	-
Cash disbursed to:
Cost of producing outputs:
Output expenses	(11,337)	(10,937)	(9,547)
Capital charge	(132)	(132)	(132)
*Net cash flows from operating activities*	818	853	240
Cash flows from investing activities
Cash provided from:
Sale of property, plant and equipment	20	-	20
Cash disbursed to:
Purchase of property, plant and equipment	(250)	(150)	(250)
*Net cash flows from investing activities*	(230)	(150)	(230)
Cash flows from financing activities
Cash disbursed to:
Payment of surplus to the Crown	(758)	(758)	(35)
Net cash flows from financing activities	(758)	(758)	(35)
Net increase/(decrease) in cash held	(170)	(55)	(25)
Opening total cash balances at 1 July	1,711	1,711	1,656
Closing total cash balances at 30 June projected	1,541	1,656	1,631

	2002/03 Budgeted $000	2002/03 Estimated actual $000	2003/04 Budget $000
Net surplus	-	35	-
Add/(deduct) non-cash expenses/(revenues) from statement of forecast financial performance
Depreciation	240	240	240
Add/(deduct) non-cash working capital reductions/(increases) from statement of forecast financial position
(Increase)/decrease in receivables and advances	1,284	1,284	-
(Increase)/decrease in prepayments	23	23	-
Increase/(decrease) in accruals, payables and provisions	(699)	(699)	-
Increase/(decrease) in provision for employee entitlements	(30)	(30)	-
Items classified as investing activities
Net (gain)/loss on sale of property, plant and equipment	-	-	-
Net cash flows from operating activities	818	818	240

	30 June 2003	30 June 2004 Forecast Position
	Estimated Actual Position $000	Cost $000	Accumulated Depreciation $000	Net Book Value $000
Furniture and fittings	-	262	262	-
Plant and equipment	91	928	772	156
Leasehold improvements	252	616	389	227
Information management systems	233	925	742	183
Total	576	2,731	2,165	566

	Unit	2002/03		2003/04
		Budgeted	Estimated actual	Budget
Operating results
Interest	$000	-	35	-
Output expenses	$000	12,287	11,887	9,919
Operating surplus before capital charge	$000	132	167	132
Net surplus/(deficit)	$000	-	35	-
Working capital
Net current assets	$000	1,022	1,102	1,112
Working capital ratio	Ratio	2.91:1	2.93:1	3.08:1
Quick asset ratio	Ratio	2.91:1	2.93:1	3.08:1
Average creditors outstanding	Days	16	16	23
Resource utilisation
Property, plant and equipment:
Total property, plant and equipment at year end	$000	656	576	566
Addition as % of property, plant and equipment	%	38	26	44
Taxpayers' funds: level at year end	$000	1,555	1,555	1,555
Forecast net cash flows
Surplus/(deficit) operating activities	$000	818	853	240
Surplus/(deficit) investing activities	$000	(230)	(150)	(230)
Surplus/(deficit) financing activities	$000	(758)	(758)	(35)
Net increase/(decrease) in cash held	$000	(170)	(55)	(25)
Human resources
Estimated total staff (as at 30 June)	No.	58	58	58