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Statement of Financial Position

Department of Veterans' Affairs
Statement of Financial Position

as at 30 June 2017

    2017 2016 Original
Budget
  Notes $'000 $'000 $'000
ASSETS        
Financial assets        
Cash and cash equivalents 3.1A 6,413 7,711 4,466
Trade and other receivables 3.1B 45,496 24,771 16,251
Premiums and recoveries receivable 3.1C 15,490 13,233 6,300
Investments 3.1D 62,169 58,655 60,693
Total financial assets   129,568 104,370 87,710
         
Non-financial assets        
Land & buildings 3.2A 14,873 17,047 15,769
Property, plant and equipment 3.2A 1,076 1,662 2,807
Intangibles 3.2A 71,061 73,780 80,922
Other non-financial assets 3.2B 6,006 4,211 6,991
Total non-financial assets   93,016 96,700 106,489
         
Assets held for sale   1,350 1,350 -
Total assets   223,934 202,420 194,199
         
LIABILITIES        
Payables        
Suppliers 3.3A 28,010 23,457 17,883
Unearned premiums 3.3B 21,839 21,619 21,311
Other payables 3.3C 6,019 5,895 5,119
Total payables   55,868 50,971 44,313
         
Provisions        
Employee provisions 6.1A 68,669 68,444 59,415
Gross outstanding claims 3.4A 18,897 13,290 16,798
Other provisions 3.4B 3,217 2,918 2,502
Total provisions   90,783 84,652 78,715
         
Total liabilities   146,651 135,623 123,028
         
Net assets   77,283 66,797 71,171
         
EQUITY        
Contributed equity   250,693 217,849 250,426
Reserves   11,793 9,789 10,592
Accumulated deficit   (185,203) (160,841) (189,847)
Total equity   77,283 66,797 71,171

The above statement should be read in conjunction with the accompanying notes.

For budgetary reporting information refer to Note 8.1.

 

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