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Annual Reports
- Annual Report 2021 - 2022
- Annual Report 2020 - 2021
- Annual Report 2019 - 2020
- Annual Report 2018 - 2019
- Annual Report 2017 - 2018
- Annual Report 2016 - 2017
- Annual Report 2015 - 2016
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Annual Report 2013 - 2014
- Letter of Transmittal
- Section 1: Strategic Overview
- Section 2: Programme Reporting and Performance Summaries
- Section 3: Report of Operations
- Section 4: Corporate Governance and Accountability
- Section 5: Financial Statements
- Section 6: Appendices
- Section 7: Compliances Indexes
- Section 8: Glossary and Indexes
- Index
- Annual Report 2014 - 2015
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Annual Report 2012 - 2013
- Letter of Transmittal
- Section 1: Strategic Overview
- Section 2: Program Reporting and Performance Summaries
- Section 3: Report of Operations
- Section 4: Corporate governance and accountability
- Section 5: Financial Statements
- Section 6: Appendices
- Section 7: Compliance Indexes
- Section 8: Glossary and Indexes
- Index
- Annual Report 2011 - 2012
- Annual Report 2010 - 2011
- Accountability and Reporting
- TSRA News & Media
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Annual Reports
Statement by the Directors, Chief Executive and Chief Financial Officer
Statement of Comprehensive Income
Statement of Changes in Equity
Note 1: Summary of Significant Accounting Policies
Note 2: Events After the Reporting Period
Note 9: Cash Flow Reconciliation
Note 10: Contingent Assets and Liabilities
Note 11: Directors Remuneration
Note 12: Related Party Disclosures
Note 13: Senior Executive Remuneration
Note 14: Remuneration of Auditors
Note 15: Financial Instruments
Note 16: Financial Assets Reconciliation
Note 17: Compensation and Debt Relief
Note 19: Reporting of Outcomes
TORRES STRAIT REGIONAL AUTHORITY
STATEMENT OF COMPREHENSIVE INCOME
for the period ended 30 June 2013
Notes | 2013 $'000 | 2012 $'000 | |
---|---|---|---|
EXPENSES | |||
Employee benefits | 3A | 13,801 | 12,046 |
Supplier | 3B | 15,811 | 13,929 |
Grants | 3C | 16,891 | 29,038 |
Depreciation | 3D | 1,268 | 1,121 |
Finance costs | 3E | 132 | 157 |
Write-down and impairment of assets | 3F | 77 | 47 |
Total Expenses | 47,980 | 56,338 | |
LESS: | |||
OWN-SOURCE INCOME | |||
Own-source revenue | |||
Sale of goods and rendering of services | 4A | 384 | 506 |
Interest | 4B | 2,372 | 1,777 |
Other revenue | 4C | 5,399 | 13,739 |
Total own-source revenue | 8,155 | 16,022 | |
Gains | |||
Sale of assets | 4D | - | 14 |
Reversals of previous asset write-downs and impairments | 4E | 144 | 320 |
Total gains | 144 | 334 | |
Total own-source income | 8,299 | 16,356 | |
Net cost of services | 39,681 | 39,982 | |
Revenue from Government | 4F | 45,680 | 50,454 |
Surplus attributable to the Australian Government | 5,999 | 10,472 | |
OTHER COMPREHENSIVE INCOME | |||
Items not subject to subsequent reclassification to profit or loss | |||
Changes in asset revaluation surplus | 411 | 733 | |
Total other comprehensive income | 411 | 733 | |
Total comprehensive income | 6,410 | 11,205 | |
Total comprehensive income attributable to the Australian Government | 6,410 | 11,205 |
The above statement should be read in conjunction with the accompanying notes.
TORRES STRAIT REGIONAL AUTHORITY
BALANCE SHEET
as at 30 June 2013
Notes | 2013 $'000 | 2012 $'000 | |
---|---|---|---|
ASSETS | |||
Financial Assets | |||
Cash and cash equivalents | 5A | 1,476 | 21,412 |
Trade and other receivables | 5B | 8,055 | 6,734 |
Other investments | 5C | 36,800 | 22,298 |
Total financial assets | 46,331 | 50,444 | |
Non-Financial Assets | |||
Land and buildings | 6A,C | 32,176 | 27,938 |
Plant and equipment | 6B,C | 1,640 | 1,743 |
Total not-financial assets | 33,816 | 29,681 | |
Net assets | 80,147 | 80,125 | |
LIABILITIES | |||
Payables | |||
Suppliers | 7A | (5,491) | (9,205) |
Grants | 7B | (1,828) | (4,438) |
Other payables | 7C | (378) | (467) |
Total payables | (7,697) | (14,110) | |
Provisions | |||
Employee provisions | 8A | (2,875) | (2,850) |
Total provisions | (2,875) | (2,850) | |
Total liabilities | (10,572) | (16,960) | |
Net assets | 69,575 | 63,165 | |
EQUITY | |||
Contributed equity | 32 | 32 | |
Reserves | 13,678 | 13,267 | |
Retained surplus | 55,865 | 49,866 | |
69,575 | 63,165 |
The above statement should be read in conjunction with the accompanying notes.
TORRES STRAIT REGIONAL AUTHORITY
STATEMENT of CHANGES in EQUITY
for the period ended 30 June 2013
Retained earnings 2013 $'000 | Retained earnings 2012 $'000 | Asset revaluation surplus 2013 $'000 | Asset revaluation surplus 2012 $'000 | Contributed equity/capital 2013 $'000 | Contributed equity/capital 2012 $'000 | Total equity 2013 $'000 | Total equity 2012 $'000 | |
---|---|---|---|---|---|---|---|---|
Opening balance | ||||||||
Balance carried forward from previous period | 49,866 | 39,394 | 13,267 | 12,534 | 32 | 32 | 63,165 | 51,960 |
Adjusted opening balance | 49,866 | 39,394 | 13,267 | 12,534 | 32 | 32 | 63,165 | 51,960 |
Comprehensive income | ||||||||
Other comprehensive income | - | - | 411 | 733 | - | - | 411 | 733 |
Surplus for the period | 5,999 | 10,472 | - | - | - | - | 5,999 | 10,472 |
Total comprehensive income | 5,999 | 10,472 | 411 733 | - | - | 6,410 | 11,205 | |
of which: | ||||||||
Attributable to the Australian Government | 5,999 | 10,472 | 411 | 733 | - | - | 6,410 | 11,205 |
Closing Balance attributable to the Australian Government as at 30 June 2013 | 55,865 | 49,866 | 13,678 | 13,267 | 32 | 32 | 69,575 | 63,165 |
The above statement should be read in conjunction with the accompanying notes.
TORRES STRAIT REGIONAL AUTHORITY
CASH FLOW STATEMENT
for the period ended 30 June 2013
Notes | 2013 $'000 | 2012 $'000 | |
---|---|---|---|
OPERATING ACTIVITIES | |||
Cash received | |||
Receipts from Government | 45,680 | 50,454 | |
Sales of goods and rendering of services | 6,238 | 19,031 | |
Interest | 2,325 | 1,694 | |
Net GST received | 825 | - | |
Total cash received | 55,068 | 71,179 | |
Cash used | |||
Employees | (13,687) | (11,326) | |
Suppliers | (21,478) | (7,712) | |
Loan payments | (103) | (90) | |
Grants | (20,241) | (25,627) | |
Net GST paid | - | (2,582) | |
Total cash used | (55,509) | (47,337) | |
Net cash flows from (used by) operating activities | 9 | (441) | 23,842 |
INVESTING ACTIVITIES | |||
Cash received | |||
Loan receipts | 562 | 541 | |
Proceeds from sales of property, plant and equipment | - | 14 | |
Total cash received | 562 | 555 | |
Cash used | |||
Loan payments | (563) | (665) | |
Purchase of property, plant and equipment | (4,992) | (1,079) | |
Investments | (14,502) | (22,298) | |
Total cash used | (20,057) | (24,042) | |
Net cash flows from (used by) investing activities | (19,495) | (23,487) | |
Net increase/(decrease) in cash held | (19,936) | 355 | |
Cash and cash equivalents at the beginning of the reporting period | 21,412 | 21,057 | |
Cash and cash equivalents at the end of the reporting period | 5A | 1,476 | 21,412 |
The above statement should be read in conjunction with the accompanying notes.
TORRES STRAIT REGIONAL AUTHORITY
SCHEDULE OF COMMITMENTS
as at 30 June 2013
BY TYPE | 2013 $'000 | 2012 $'000 |
Commitments receivable | ||
Sublease rental income 1 | 1,467 | 1,341 |
Net GST recoverable on commitments | 20 | 30 |
Total commitments receivable | 1,487 | 1,371 |
Commitments payable | ||
Other commitments | ||
Operating leases 1 | (986) | (741) |
Total other commitments | (986) | (741) |
Total commitments payable | (986) | (741) |
Net commitments by type | 501 | 630 |
BY MATURITY | ||
Commitments receivable | ||
Operating lease income | ||
One year or less | 283 | 258 |
From one to five years | 1,184 | 1,083 |
Total operating lease income | 1,467 | 1,341 |
Net GST commitments receivable | ||
One year or less | 18 | 17 |
From one to five years | 2 | 13 |
Total net GST commitments receivable | 20 | 30 |
Commitments payable | ||
Operating lease commitments payable | ||
One year or less | (586) | (493) |
From one to five years | (400) | (248) |
Total operating lease commitments | (986) | (741) |
Total commitments payable | ||
Net commitments by maturity | 501 | 630 |
Note: Commitments were GST inclusive where relevant.
Footnote
1 . Operating leases included are effectively non-cancellable and comprise:
Commitments Receivable
The Torres Strait Regional Authority (TSRA) receives rental income from the provision of staff housing. This is a necessary activity given the geographic location and housing availability in the Torres Strait.
Lease for office and residential accommodation
Lease payments exist for 3 office accommodations. The leases increase at CPI each year. One lease is for a period of 22 months with no renewal option to extend for 1 additional year, the second lease is for a period of 2 years with an option to extend for an additional 2 years and the third lease is for a period of 3 years with an option to extend for an additional 3 years.
The TSRA currently leases 9 houses for staff and contractor accommodation. Lease terms range from 1 month to 3 years with varying expiry dates.
Agreement for the provision of motor vehicles
Two vehicles are leased for operating activities of the TSRA. There are no contingent rentals and no renewal or purchase options available to the TSRA.
This schedule should be read in conjunction with the accompanying notes.