Statement of financial position

as at 30 June 2020

This statement reports total assets and liabilities. The difference between total assets and total liabilities is called equity.

Notes Actual
2019/20
$000		 Actual
2018/19
$000		 Main Estimates
2019/20
$000*		 Supplementary Estimates
2019/20
$000*		 Main Estimates
2020/21
$000*
Assets
Current assets
Cash and cash equivalents 7 5,077 5,209 2,730 16,702 5,695
Receivables 8 8,174 7,597 7,087 7,087 8,348
Prepayments 897 637 781 781 809
Work in progress 9 1,913 1,499 1,737 1,737 1,105
Total current assets 16,061 14,942 12,335 26,307 15,957
Non-current assets
Plant and equipment 10 3,502 3,346 3,108 3,785 3,607
Intangible assets 11 1,100 1,017 1,874 1,215 2,498
Total non-current assets 4,602 4,363 4,982 5,000 6,105
Total assets 20,663 19,305 17,317 31,307 22,062
Liabilities
Current liabilities
Payables and deferred revenue 12 7,830 5,883 5,645 4,745 6,579
Repayment of surplus due to the Crown 13 1,751 221 - - -
Employee entitlements 14 5,820 4,548 4,578 4,587 5,639
Total current liabilities 15,401 10,652 10,223 9,332 12,218
Non-current liabilities
Payables and deferred revenue 12 2 6 - - -
Employee entitlements 14 598 600 548 548 613
Total non-current liabilities 600 606 548 548 613
Total liabilities 16,001 11,258 10,771 9,880 12,831
Net assets 4,662 8,047 6,546 21,427 9,231
Equity
Taxpayers' funds 6,221 6,221 6,221 21,221** 7,729
Memorandum account 15 (1,559) 1,826 325 206 1,502
Total equity 4,662 8,047 6,546 21,427 9,231

* 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.

** Taxpayers' funds were $15 million lower than in the Supplementary Estimates. The Supplementary Estimates included allowance for a capital injection of $15 million to fund potential deficits on audit fees arising from the effects of the Covid-19 pandemic. This allowance was forecast at the maximum possible effect on audit fees but was ultimately not required.

Explanations of significant variances against the Main Estimates are detailed in Note 20.

The accompanying notes form part of these financial statements.