DEPARTMENT OF FISHERIES ANNUAL REPORT TO THE ...

DISCLOSURES AND LEgAL COMPLIANCE � FINANCIAL STATEMENTS
dePArtmeNt of fISherIeS StAtemeNt of comPreheNSIve INcome
for the yeAr eNded 30 JuNe 2011
coSt of ServIceS Note 2011 2010
$’000 $’000
expenses
Employee benefits expense 6 40,516 38,027
Supplies and services 7 21,352 17,750
Depreciation and amortisation expense 8 3,790 3,262
Finance costs 9 253 140
Accommodation expenses 10 2,071 2,092
Grants and subsidies 11 3,476 5,099
Fisheries Adjustment Scheme buy-backs 12 170 2,566
Other expenses 13 263 639
total cost of services 71,891 69,575
Income
Revenue
User charges and fees 14 29,558 24,673
Grants and contributions 15 2,987 6,633
Interest revenue 16 491 102
total revenue 33,036 31,408
Gains
Gain on disposal of non-current assets 17 24 109
total gains 24 109
total income other than income from State government 33,060 31,517
Net coSt of ServIceS (38,831) (38,058)
INcome from StAte goverNmeNt 18
Service appropriations 32,676 36,029
Resources received free of charge 499 1,272
Royalties for Regions Fund 94 –
total income from State government 33,269 37,301
defIcIt for the PerIod (5,562) (757)
other comPreheNSIve INcome
Changes in asset revaluation surplus 29 (527) (2,794)
Total other comprehensive income (527) (2,794)
totAl comPreheNSIve INcome for the PerIod (6,089) (3,551)
refer to the ‘Schedule of Income and expenses by Service’.
the Statement of comprehensive Income should be read in conjunction with the accompanying notes.
dePArtmeNt of fISherIeS StAtemeNt of fINANcIAl PoSItIoN AS At 30 JuNe 2011
109
Note 2011 2010
$’000 $’000
ASSetS
current Assets
Cash and cash equivalents 29 3,516 3,486
Restricted cash and cash equivalents 19 1,637 1,437
Receivables 20 5,128 1,559
Amounts receivable for services 21 2,226 2,226
Other current assets 22 162 109
total current Assets 12,669 8,817
Non-current Assets
Restricted cash and cash equivalents 19 672 557
Receivables 20 34,862 3,336
Amounts receivable for services 21 6,349 5,183
Property, plant and equipment 23 59,452 59,384
total Non-current Assets 101,335 68,460
totAl ASSetS 114,004 77,277
lIABIlItIeS
current liabilities
Payables 25 2,607 1,907
Borrowings 26 2,903 562
Provisions 27 9,151 6,863
Other current liabilities 28 1,173 734
total current liabilities 15,834 10,066
Non-current liabilities
Borrowings 26 34,862 3,465
Provisions 27 2,123 1,982
total Non-current liabilities 36,985 5,447
totAl lIABIlItIeS 52,819 15,513
Net ASSetS 61,185 61,764
eQuIty
Contributed equity 29 50,076 44,566
Reserves 29 13,514 14,041
Accumulated surplus/(deficit) 29 (2,405) 3,157
totAl eQuIty 61,185 61,764
refer to the ‘Schedule of Assets and liabilities by Service’.
the Statement of financial Position should be read in conjunction with the accompanying notes.