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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
TORRES STRAIT REGIONAL AUTHORITY STATEMENT OF COMPREHENSIVE INCOME
for the period ended 30 June 2014
Notes | 2014 $'000 |
2013 $'000 |
|
NET COST OF SERVICES | |||
Expenses | |||
Employee benefits | 3A | 14,617 | 13,801 |
Supplier | 3B | 16,507 | 15,811 |
Grants | 3C | 31,760 | 16,891 |
Depreciation | 3D | 1,250 | 1,268 |
Finance costs | 3E | 135 | 132 |
Write-down and impairment of assets | 3F | 1 | 77 |
Total expenses | 64,270 | 47,980 | |
Own-Source Income | |||
Own-source revenue | |||
Sale of goods and rendering of services | 4A | 517 | 384 |
Interest | 4B | 2,130 | 2,372 |
Other revenue | 4C | 14,476 | 5,399 |
Total own-source revenue | 17,123 | 8,155 | |
Gains | |||
Gains from sale of assets | 4D | 34 | - |
Reversals of previous asset write-downs and impairments | 4E | 65 | 144 |
Total gains | 99 | 144 | |
Total own-source income | 17,222 | 8,299 | |
Net cost of services | 47,048 | 39,681 | |
Revenue from Government | 4F | 49,645 | 45,680 |
Surplus attributable to the Australian Government | 2,597 | 5,999 | |
OTHER COMPREHENSIVE INCOME | |||
Items not subject to subsequent reclassification to profit or loss | |||
Changes in asset revaluation surplus | 184 | 411 | |
Total other comprehensive income | 184 | 411 | |
Total comprehensive income attributable to the Australian Government | 2,781 | 6,410 |
The above statement should be read in conjunction with the accompanying notes.
TORRES STRAIT REGIONAL AUTHORITY STATEMENT OF FINANCIAL POSITION
as at 30 June 2014
Notes | 2014 $'000 |
2013 $'000 | |
ASSETS | |||
Financial assets | |||
Cash and cash equivalents | 6A | 2,711 | 1,476 |
Trade and other receivables | 6B | 6,409 | 8,055 |
Other investments | 6C | 37,394 | 36,800 |
Total financial assets | 46,514 | 46,331 | |
Non-financial assets | |||
Land and buildings | 7A,C | 32,236 | 32,176 |
Plant and equipment | 7B,C | 1,582 | 1,640 |
Total non-financial assets | 33,818 | 33,816 | |
Total assets | 80,332 | 80,147 | |
LIABILITIES | |||
Payables | |||
Suppliers | 8A | 4,247 | 5,491 |
Grants | 8B | 288 | 1,828 |
Other payables | 8C | 391 | 378 |
Total payables | 4,926 | 7,697 | |
Provisions | |||
Employee provisions | 9A | 3,050 | 2,875 |
Total provisions | 3,050 | 2,875 | |
Total liabilities | 7,976 | 10,572 | |
Net assets | 72,356 | 69,575 | |
EQUITY | |||
Contributed equity | 32 | 32 | |
Reserves | 13,862 | 13,678 | |
Retained surplus | 58,462 | 55,865 | |
Total equity | 72,356 | 69,575 |
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 2014
Retained earnings | Asset revaluation surplus |
Contributed equity/capital |
Total equity | |||||
2014 $'000 | 2013 $'000 | 2014 $'000 | 2013 $'000 | 2014 $'000 | 2013 $'000 | 2014 $'000 | 2013 $'000 | |
Opening balance Balance carried forward from previous period | 55,865 | 49,866 | 13,678 | 13,267 | 32 | 32 | 69,575 | 63,165 |
Adjusted opening balance | 55,865 | 49,866 | 13,678 | 13,267 | 32 | 32 | 69,575 | 63,165 |
Comprehensive income Surplus for the period | 2,597 | 5,999 | - | - | - | - | 2,597 | 5,999 |
Other comprehensive income | - | - | 184 | 411 | - | - | 184 | 411 |
Total comprehensive income | 2,597 | 5,999 | 184 | 411 | - | - | 2,781 | 6,410 |
Closing Balance attributable to the Australian Government as at 30 June 2014 | 58,462 | 55,865 | 13,862 | 13,678 | 32 | 32 | 72,356 | 69,575 |
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 2014
Notes | 2014 $'000 |
2013 $'000 |
|
OPERATING ACTIVITIES | |||
Cash received | |||
Receipts from Government | 49,645 | 45,680 | |
Sales of goods and rendering of services | 15,959 | 6,238 | |
Interest | 2,082 | 2,325 | |
Net GST received | 3,313 | 825 | |
Total cash received | 70,999 | 55,068 | |
Cash used | |||
Employees | 14,429 | 13,687 | |
Suppliers | 19,526 | 21,478 | |
Loan payments | 58 | 103 | |
Grants | 34,113 | 20,241 | |
Total cash used | 68,126 | 55,509 | |
Net cash from/(used by) operating activities | 10 | 2,873 | 441 |
INVESTING ACTIVITIES | |||
Cash received | |||
Loan receipts | 513 | 562 | |
Proceeds from sales of property, plant and equipment | 34 | - | |
Total cash received | 547 | 562 | |
Cash used | |||
Loan payments | 523 | 563 | |
Purchase of property, plant and equipment | 1,068 | 4,992 | |
Investments | 594 | 14,502 | |
Total cash used | 2,185 | 20,057 | |
Net cash from/(used by) investing activities | (1,638) | (19,495) | |
Net increase/(decrease) in cash held | 1,235 | (19,936) | |
Cash and cash equivalents at the beginning of the reporting period | 1,476 | 21,412 | |
Cash and cash equivalents at the end of the reporting period | 6A | 2,711 | 1,476 |
The above statement should be read in conjunction with the accompanying notes.
TORRES STRAIT REGIONAL AUTHORITY SCHEDULE OF COMMITMENTS
as at 30 June 2014
BY TYPE | 2014 $'000 | 2013 $'000 |
Commitments receivable1 | ||
Net GST recoverable on commitments | 22 | 20 |
Total commitments receivable | 22 | 20 |
Commitments payable | ||
Other commitments | ||
Operating leases1 | 693 | 986 |
Total other commitments | 693 | 986 |
Total commitments payable | 693 | 986 |
Net commitments by type | 671 | 986 |
BY MATURITY | ||
Commitments receivable | ||
Net GST commitments receivable | ||
Within 1 year | 15 | 18 |
Between 1 to 5 years | 7 | 2 |
Total GST commitments receivable | 22 | 20 |
Total commitments receivable | 22 | 20 |
Commitments payable | ||
Operating lease commitments payable | ||
Within 1 year | 416 | 586 |
Between 1 to 5 years | 277 | 400 |
Total operating lease commitments | 693 | 986 |
Total commitments payable | 693 | 986 |
Net commitments by maturity | 671 | 966 |
Note: Commitments were GST inclusive where relevant.
Footnote
1. Operating leases included are effectively non-cancellable and comprise:
Commitments Receivable
In financial year 2012-13, Operating lease income from staff housing was incorrectly categorised as a Committment Receivable of $1.47m. In financial year 2013-14, Operating lease income from staff housing has not been included as a Committment Receivable as staff-housing tennancy agreements do not have a specified end date. The expiry date of each agreement is inherently linked to the ongoing employment of the tennant with the TSRA. This change in presentation requires the comparative figures for financial year 2012-13 to be restated. The change in presentation has not resulted in any changes to the balance sheet, the statement of comprehensive income or the cash flow statement.
Lease for office and residential accommodation
Lease payments exist for 2 office accommodations. One lease is for a period of 2 years with 2 subsequent 2 year renewal options. The lease increases at 3% each year. The second lease is for a period of 1 year with no option to extend.
The TSRA currently lease houses for staff and contractor accommodation. Lease terms range from 1 month to 3 years with varying expiry dates.
This schedule should be read in conjunction with the accompanying notes.
TORRES STRAIT REGIONAL AUTHORITY SCHEDULE OF CONTINGENCIES
as at 30 June 2014
2014 $'000 | 2013 $'000 | |
Contingent liabilities | ||
Bank guarantee | 116 | - |
Total Contingent Liabilities | 116 | - |
Net Contingent Assets (Liabilities) | (116) | - |
Details of each class of contingent liabilities and contingent assets listed above are disclosed in Note 11, along with information on significant remote contingencies and contingencies that cannot be quantified.
During 20 1e3ac-14 , thses TS RoAn t rin ecogn ilsiaed a tcieon ting ent litasb, ility in respect o f a b anncklu guar ntee in favour of the Torres Shire Council. Details are provided in Note 11.
The above schedule should be read in conjunction with the accompanying notes.