Appendixes
Appendix 1: Financial statements
Note 4–Operating Revenues
Note 4A–Revenues from Government
|
2004–2005 $ |
2003–2004 $ |
| Appropriations for outputs |
7,772,000 |
7,598,000 |
| Total Revenues from Government |
7,772,000 |
7,598,000 |
Note 4B–Sales of goods and services
|
2004–2005 $ |
2003–2004 $ |
| Goods |
2,309 |
2,531 |
| Services |
- |
- |
| Total Sales of goods and services |
2,309 |
2,531 |
| Provision of goods to: |
|
|
| Related entities |
- |
- |
| External entities |
2,309 |
2,531 |
| Total sales of goods |
2,309 |
2,531 |
| Costs of sales of goods |
2,309 |
2,531 |
Note 4C–Revenue from sale of assets
|
2004–2005 $ |
2003–2004 $ |
| Infrastructure, plant and equipment: |
|
|
| Proceeds from disposal |
18,571 |
- |
| Less: Net book value of assets disposed |
17,272 |
- |
| Less: Write-offs of assets |
- |
- |
| Net gain/(loss) from disposal of infrastructure, plant and equipment |
1,299 |
- |
| Total revenue from sale of assets |
18,571 |
- |
| Total value of assets disposed |
17,272 |
- |
| Total Net gain/(loss) from disposal of assets |
1,299 |
- |
Note 4D–Other revenues
|
2004–2005 $ |
2003–2004 $ |
| Other revenue |
15,132 |
- |
| Court costs recovered from persons under review |
200,954 |
- |
| Resources received free of charge |
7,250 |
6,200 |
| Total Other revenues |
223,336 |
6,200 |
Note 4E–Prior period prepayment adjustment
|
2004–2005 $ |
2003–2004 $ |
| Prior period prepayment adjustment |
- |
210,000 |
| Total Prior period prepayment adjustment |
- |
210,000 |
During 2003–04 it was identified that in previous financial years Professional Services Review has understated prepaid expenses. In 2000-01 Professional Services Review expensed an amount of $420,000 that represented a prepayment to the Department of Health and Ageing for SAP maintenance for 6 years, to be expensed at $70,000 per year.
The result of this error has had an impact on each of the subsequent years accounts. In 2000-01 there was an overstatement of expenses and understatement of prepaid expenses to the extent of $350,000. Subsequent years expenses have been understated by $70,000 per year, with a corresponding understatement of prepaid expenses. The balance of the prepaid expense to be recognised at 30 June 2004 is $210,000.