Statement of cash flows
for the year ended 30 June 2020
This statement summarises the cash movements in and out of the Office during the year. It takes no account of money owed to the Office or owing by the Office, and therefore differs from the Statement of comprehensive revenue and expense.
| Notes | Actual 2019/20 $000 |
Actual 2018/19 $000 |
Main Estimates 2019/20 $000* |
Supplementary Estimates 2019/20 $000* |
Main Estimates 2020/21 $000* |
|
|---|---|---|---|---|---|---|
| Cash flows from operating activities | ||||||
| Receipts from the Crown | 15,882 | 10,825 | 15,847 | 15,882 | 17,482 | |
| Receipts from public entities1 | 46,381 | 47,672 | 46,457 | 48,418 | 56,612 | |
| Payments to suppliers1 | (12,492) | (11,594) | (11,703) | (14,721) | (16,419) | |
| Payments to employees | (47,785) | (44,909) | (48,925) | (50,507) | (52,549) | |
| Net GST paid2 | (85) | (87) | 25 | (152) | 240 | |
| Capital charge paid | (373) | (373) | (373) | (373) | (419) | |
| Net cash flow from (used in) operating activities | 16 | 1,528 | 1,534 | 1,328 | (1,453) | 4,947 |
| Cash flows from investing activities | ||||||
| Receipts from sale of plant and equipment | 80 | 111 | 83 | 93 | 63 | |
| Purchase of plant and equipment | (1,230) | (848) | (787) | (1,507) | (837) | |
| Purchase of intangible assets | (290) | (242) | (950) | (419) | (1,688) | |
| Net cash flow from (used in) investing activities | (1,440) | (979) | (1,654) | (1,833) | (2,462) | |
| Cash flows from financing activities | ||||||
| Capital contribution | - | - | - | 15,000** | 1,508 | |
| Surplus repayment to the Crown | (220) | (600) | - | (221) | - | |
| Net cash flow from (used in) financing activities | (220) | (600) | - | 14,779 | 1,508 | |
| Total net increase (decrease) in cash and cash equivalents | (132) | (45) | (326) | 11,493 | 3,993 | |
| Cash at the beginning of the year | 5,209 | 5,254 | 3,056 | 5,209 | 1,702 | |
| Cash and cash equivalents at the end of the year | 5,077 | 5,209 | 2,730 | 16,702 | 5,695 |
* All Estimates information is unaudited. The figures under Main Estimates 2019/20 reflect the forecasts published in Budget 2019 and in the Office's 2018/19 annual report, and the figures under Supplementary Estimates 2019/20 reflect the updated forecasts published in Budget 2020.
** The Supplementary Estimates included allowance for a capital injection of $15 million to fund potential deficits on audit fees arising from the effects of Covid-19. This allowance was forecast at the maximum possible effect on audit fees but was ultimately not required.
1: The Statement of cash flows does not include the contracted audit service provider audit fee revenue or expense, as these do not involve any cash transactions with the Office.
2: The GST component of operating activities reflects the net GST paid to and received from the Inland Revenue Department. GST has been presented on a net basis, as the gross amounts do not provide meaningful information for financial statement purposes.
The accompanying notes form part of these financial statements.