Key financial statistics

 

2012–13
$’000
2013–14
$’000
2014–15
$’000
2015–16
$’000
2016–17
$’000
Five year trend
Financial performance1
Total revenue 42,541 42,271 43,021 44,979 47,251
Total expenses 42,659 42,658 43,534 43,975 47,246
(Loss) on disposal (38) (22) 0 0 0
Operating profit/(loss) (156)  (409) (513) 1,004 5
Financial position
Total assets 28,555  27,587 26,020 26,857  27,228
Accumulated funds (19,601)  (20,288) (26,696)  (45,970) (29,051)
Solvency and debtor management
Current ratio 1.8 1.7 1.8 2.1 2.0
Average days to collect debts 53 42 44 40 37

 

2016–17 Budget $’000 2016–17 Actual $’000 2017–18 Budget $’000
Performance against budget1
Revenue
Audit fees 38,236 37,827 50,801
Government contributions 7,980 8,592 9,750
Interest 150 167 151
Other revenue 206 665 214
Total revenue 46,572 47,251 60,916
Expenditure
Salaries and related expenses 33,560 33,498 38,685
Other expenses including operating expenses, maintenance, loss on disposal and finance costs 7,894 7,880 8,025
 Contract audit agent costs 2,443 4,718 11,304
 Depreciation and amortisation  1,239 1,150 1,039
 Total expenditure  45,136 47,246  59,053
 Operating profit 1,436  5 1,863

1 Excludes defined benefit superannuation scheme adjustments of $2,088,000 in 2016–17 ($1,803,000 in 2015–16).