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  1. About the report
  2. About AMSA
  3. Plan on a Page
  4. Transmittal letter
  5. Reporting requirements and responsible minister
  6. Annual performance statements
  7. Chairman's review
  8. Organisational profile
  9. Financial summary
  10. Our governance
    1. Planning
    2. Risk management
    3. Performance reporting
    4. Related entity transactions
    5. Public interest disclosure
    6. Disability report
    7. Statement of significant non-compliance issues
    8. Advertising and market research
    9. Judicial decisions and reviews by outside bodies
    10. Workers' compensation premium
  11. Vessel and seafarer safety
    1. Seafarer certification
    2. Compliance and enforcement
    3. International shipping
    4. Domestic commercial vessels
  12. Search and rescue
    1. Search and rescue aircraft replacement
    2. National Search and Rescue Council
    3. Medium-altitude Earth Orbit Search and Rescue system
    4. Beacon registration system upgrade
    5. Torres Strait Marine Safety Program
  13. Marine environment
    1. The National Plan for Maritime Environmental Emergencies
    2. Cape Upstart marine pollution incident
    3. Working with other regulators
  14. Navigation safety
    1. Shipping management
    2. Aids to navigation management
  15. Working with our community
    1. Domestic engagement
    2. International engagement
    3. Regional engagement
  16. Appendix 1: Financial statements
    1. Statement of comprehensive income
    2. Statement of financial position
    3. Statement of changes in equity
    4. Cash flow statement
    5. Overview
    6. Note 1: Expenses
    7. Note 2: Own-source income
    8. Note 3: Fair value measurement
    9. Note 4: Financial assets
    10. Note 5: Non-financial assets
    11. Note 6: Payables
    12. Note 7: Interest bearing liabilities
    13. Note 8: Provisions
    14. Note 9: Cash flow reconciliation
    15. Note 10: Contingent liabilities and assets
    16. Note 11: Senior management personnel remuneration
    17. Note 12: Related party disclosures
    18. Note 13: Remuneration of auditors
    19. Note 14: Financial instruments
    20. Note 15: Financial assets reconciliation
    21. Note 16: Reporting of outcomes
    22. Note 17: Regulatory charging summary
    23. Note 18: Budgetary reports and explanations of major variances
  17. Appendix 2: Non-financial performance
    1. SC1: Ship and vessel safety
    2. SC1: Environment protection
    3. SC1: Regulatory
    4. SC1: Search and rescue
    5. SC1: Projects
    6. SC2: Preparing for the future
    7. SC3: Ensuring a competent and fairly treated maritime workforce
    8. SC4: Influencing international arrangements
    9. SC5: Engaging with the community
    10. SC6: Ensuring a progressive and vibrant organisation
  18. Appendix 3: AMSA Board members
  19. References
  20. Compliance Index
  1. About the report
  2. About AMSA
  3. Plan on a Page
  4. Transmittal letter
  5. Reporting requirements and responsible minister
  6. Annual performance statements
  7. Chairman's review
  8. Organisational profile
  9. Financial summary
  10. Our governance
    1. Planning
    2. Risk management
    3. Performance reporting
    4. Related entity transactions
    5. Public interest disclosure
    6. Disability report
    7. Statement of significant non-compliance issues
    8. Advertising and market research
    9. Judicial decisions and reviews by outside bodies
    10. Workers' compensation premium
  11. Vessel and seafarer safety
    1. Seafarer certification
    2. Compliance and enforcement
    3. International shipping
    4. Domestic commercial vessels
  12. Search and rescue
    1. Search and rescue aircraft replacement
    2. National Search and Rescue Council
    3. Medium-altitude Earth Orbit Search and Rescue system
    4. Beacon registration system upgrade
    5. Torres Strait Marine Safety Program
  13. Marine environment
    1. The National Plan for Maritime Environmental Emergencies
    2. Cape Upstart marine pollution incident
    3. Working with other regulators
  14. Navigation safety
    1. Shipping management
    2. Aids to navigation management
  15. Working with our community
    1. Domestic engagement
    2. International engagement
    3. Regional engagement
  16. Appendix 1: Financial statements
    1. Statement of comprehensive income
    2. Statement of financial position
    3. Statement of changes in equity
    4. Cash flow statement
    5. Overview
    6. Note 1: Expenses
    7. Note 2: Own-source income
    8. Note 3: Fair value measurement
    9. Note 4: Financial assets
    10. Note 5: Non-financial assets
    11. Note 6: Payables
    12. Note 7: Interest bearing liabilities
    13. Note 8: Provisions
    14. Note 9: Cash flow reconciliation
    15. Note 10: Contingent liabilities and assets
    16. Note 11: Senior management personnel remuneration
    17. Note 12: Related party disclosures
    18. Note 13: Remuneration of auditors
    19. Note 14: Financial instruments
    20. Note 15: Financial assets reconciliation
    21. Note 16: Reporting of outcomes
    22. Note 17: Regulatory charging summary
    23. Note 18: Budgetary reports and explanations of major variances
  17. Appendix 2: Non-financial performance
    1. SC1: Ship and vessel safety
    2. SC1: Environment protection
    3. SC1: Regulatory
    4. SC1: Search and rescue
    5. SC1: Projects
    6. SC2: Preparing for the future
    7. SC3: Ensuring a competent and fairly treated maritime workforce
    8. SC4: Influencing international arrangements
    9. SC5: Engaging with the community
    10. SC6: Ensuring a progressive and vibrant organisation
  18. Appendix 3: AMSA Board members
  19. References
  20. Compliance Index

Note 18: Budgetary reports and explanations of major variances

The following tables provide a comparison of the original budget as presented in the 2015-16 Portfolio Budget Statements (PBS) to the 2015-16 final outcome as presented in accordance with Australian Accounting Standards for AMSA. The Budget is not audited.

Note 18A: Departmental Budgetary Reports

AUSTRALIAN MARITIME SAFETY AUTHORITY
Statement of Comprehensive Income
for the period ended 30 June 2016

 

Actual

Budget estimate

 

 

Original1

Variance2

 

2016

2016

2016

NET COST OF SERVICES

$’000

$’000

$’000

EXPENSES

Employee benefits

63,797

58,249

5,548

Suppliers

125,317

132,671

(7,354)

Depreciation and amortisation

14,150

13,629

521

Finance costs

270

-

270

Write-down and impairment of assets

557

-

557

Losses from asset sales

350

-

350

Total expenses

204,441

204,549

(108)

LESS:

OWN-SOURCE INCOME

Own-Source Revenue

Sale of goods and rendering of services

16,801

18,690

(1,889)

Fees and fines

42

-

42

Interest

2,089

1,600

489

Rental income

1,137

964

173

Other revenue

5,231

-

5,231

Total own-source revenue

25,300

21,254

4,046

Gains

Foreign exchange

1

-

1

Total gains

1

-

1

Total own-source income

25,301

21,254

4,047

Net cost of services

179,140

183,295

(4,155)

Revenue from Government

176,808

178,707

(1,899)

Surplus / (Deficit) attributable to the Australian Government

(2,332)

(4,588)

2,256

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation reserves

(1,009)

-

(1,009)

Total other comprehensive income / (loss)

(1,009)

-

(1,009)

Total comprehensive income / (loss) attributable to the Australian Government

(3,341)

(4,588)

1,247

  1. AMSA's original budgeted financial statement that was first presented to parliament in respect of the reporting period 2015-16 Portfolio Budget Statements (PBS).
  2. Explanations of major variances are provided further below between the actual and original budgeted amounts for 2016.

 

AUSTRALIAN MARITIME SAFETY AUTHORITY
Statement of Financial Position
as at 30 June 2016

 

Actual

Budget estimate

 

 

Original1

Variance2

 

2016

2016

2016

 

$’000

$’000

$’000

ASSETS

Financial Assets

Cash and cash equivalents

71,032

52,849

18,183

Trade and other receivables

13,806

9,297

4,509

Total financial assets

84,838

62,146

22,692

Non-Financial Assets

Land and buildings

16,835

20,334

(3,499)

Property, plant and equipment

124,672

119,780

4,892

Intangibles

12,293

17,542

(5,249)

Inventories

4,417

5,869

(1,452)

Other non-financial assets

6,314

7,056

(742)

Total non-financial assets

164,531

170,581

(6,050)

Total Assets

249,369

232,727

16,642

LIABILITIES

Payables

Suppliers

32,585

36,900

(4,315)

Other payables

2,521

2,710

(189)

Total payables

35,106

39,610

(4,504)

Interest Bearing Liabilities

Finance leases

841

-

81

Total interest bearing liabilities

841

-

81

Provisions

Employee provisions

18,905

16,790

2,115

Other provisions

8,462

4,905

3,557

Total provisions

27,367

21,695

5,672

Total Liabilities

63,314

61,305

2,009

Net Assets

186,055

171,422

14,633

EQUITY

Contributed equity

37,986

37,986

-

Reserves

115,156

102,763

12,393

Retained surplus

32,913

30,673

2,240

Total equity

186,055

171,422

14,633

  1. AMSA's original budgeted financial statement that was first presented to parliament in respect of the reporting period 2015-16 Portfolio Budget Statements (PBS).
  2. Explanations of major variances are provided further below between the actual and original budgeted amounts for 2016.

 

AUSTRALIAN MARITIME SAFETY AUTHORITY
Statement of Changes in Equity
for the period ended 30 June 2016

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AUSTRALIAN MARITIME SAFETY AUTHORITY
Cash Flow Statement

for the period ended 30 June 2016

  Actual Budget estimate
    Original 1 Variance 2
  2016 2016 2016
  $'000 $'000 $'000
OPERATING ACTIVITIES      
Cash received      
Receipts from Government 176,966 179,453 (2,487)
Sale of goods and rendering of services 18,431 19,654 (1,223)
Interest 1,983 1,758 225
Net GST received 11,766 12,772 (1,006)
Other 1,717 (37) 1,754
Total cash received 210,863 213,600 (2,737)
Cash used      
Employees 63,064 57,036 6,028
Suppliers 135,420 145,322 (9,902)
Total cash used 198,484 202,358 (3,874)
Net cash from operating activities 12,379 11,242 1,137
INVESTING ACTIVITIES      
Cash received      
Investments 15,000 - 15,000
Total cash received 15,000 - 15,000
Cash used      
Purchase of property, plant and equipment 10,861 19,484 (8,623)
Total cash used 10,861 19,484 (8,623)
Net cash used by investing activities 4,139 (19,484) 23,623
FINANCING ACTIVITIES      
Cash used      
Repayment of borrowings 338 - 338
Finance lease interest 57 - 57
Total cash used 395 - 395
Net cash from financing activities (395) - (395)
Net increase / (decrease) in cash held 16,123 (8,242) 24,365
Cash and cash equivalents at the beginning of the reporting period 54,909 61,091 (6,182)
Cash and cash equivalents at the end of the reporting period 71,032 52,849 18,183
  1. AMSA's original budgeted financial statement that was first presented to parliament in respect of the reporting period 2015-16 Portfolio Budget Statements (PBS).
  2. Explanations of major variances are provided further below between the actual and original budgeted amounts for 2016.

 

Note 18B: Departmental Major Budget Variances for 2016

Explanations of major variances

Affected line items (and statement)

Suppliers Paid  

Supplier expenses decreased by $7.354 million, payables decreased by $4.504 million and the cash used for suppliers decreased by $9.902 million. This is a result of budget reallocation of $4.210 million from the supplier budget to staff costs relating to the National System together with an underspend of $3.154 million for travel, communication and overhead costs. This is a result of delayed projects, reduced costs for demand driven activities and saving initiatives.

Supplier expenses (Statement of Comprehensive Income), Supplier payable (Statement of Financial Position) and Operating cash used - suppliers (Cash Flow Statement).

Losses from asset sales and inventory impairment  

Losses from write down of pollution dispersant inventory of $0.557 million which has reached its useful life. Losses from asset sales of $0.350 million relates to write off aids to navigation assets due to cyclone damage.

Losses asset sales and impairment write down (Statement of Comprehensive Income).

Employees  

Employee expenses increased by $5.548 million, cash used increased by $6.028 million and provisions increased by $2.115 million. The contributing factors are realignment of $4.210 million from the suppliers budget for the National System, restructuring costs, increase in staff numbers, and impact on leave balances due to Department of Finance parameter adjustments.

Employee expenses (Statement of Comprehensive Income), Employee provision (Statement of Financial Position) and Operating cash used - employees (Cash Flow Statement).

Depreciation  
Increased from the reassessment of the useful life for two assets affected by the planned upgrade of the National System technology solution. Losses asset sales and impairment write down (Statement of Comprehensive Income).
Revenue from Government  

A decrease of $1.899 million is due to a reduction in levy revenue from less than expected shipping activity offset by increase in other income from regulated agencies for external programs. In addition receipt of additional search and rescue community obligation funding to offset prior year shortfall provided additional revenue.

Revenue from Government (Statement of Comprehensive Income) and cash received (Cash Flow Statement).

Own source Income  

An increase of $4.047 million is mainly attributable to a pollution incident settlement.

Own source Income (Statement of Comprehensive Income).

Financial assets including cash balance  
Increase of $22.692 million is mainly attributable to capital and supplier cash spend less than budget. Financial assets (Statement of Financial Position) and Operating cash received and cash used - property, plant and equipment (Cash Flow Statement)
Non Financial assets  
Non financial assets decreased by $6.050 million mainly attributable to underspend in planned capital spend, increase in depreciation from reassessment of useful life and decrease in asset values from the revaluation of assets. Financial assets (Statement of Financial Position) and Operating cash received and cash used - property, plant and equipment (Cash Flow Statement)
Other Provisions  

Other provisions increased by $3.557 million mainly attributable to increases in the provision for the removal of hazardous materials.

Financial assets (Statement of Financial Position) and Operating cash received and cash used - property, plant and equipment (Cash Flow Statement).

Equity change  

The difference in the equity of $14.633 million is attributable to closing equity balance as at 30 June 2015 being higher by $13.386 million compared to estimated value in the original budget and a lesser loss than anticipated ($2.256 million) offset by decrease from asset revaluation ($1.009 million).

Changes in asset revaluation (Operating Statement), Equity change (Equity Statement).