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Financial Performance
This section provides a summary of the NBA's financial performance for 2016-17. Details of departmental and administered results are shown in the audited financial statements, and this summary should be read in conjunction with those statements.
Audit report
The NBA received an unqualified audit report for 2016-17.
Departmental finances
The NBA's departmental finances cover the NBA's operations.
Operating result
The NBA's income statement reports a 2016-17 operating surplus of $0.397 million, compared with an operating deficit of $0.255 million in 2015-16. Table 4.2 shows the key results for the period 2012-13 to 2016-17.
TABLE 4.2 Key results in financial performance, 2012-13 to 2016-17
|
Revenue & expenses |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
2016-17 |
|---|---|---|---|---|---|
|
Contributions from the Australian Government |
6.201 |
6.090 |
6.266 |
5.719 |
5.636 |
|
Contributions from states and territories and other revenue |
4.106 |
4.113 |
4.590 |
3.877 |
4.376 |
|
Total revenue |
10.307 |
10.203 |
10.856 |
9.596 |
10.012 |
|
Employee expenses |
6.490 |
6.632 |
6.695 |
6.469 |
6.744 |
|
Supplier expenses |
3.569 |
3.149 |
3.753 |
3.002 |
2.350 |
|
Other expenses |
0.890 |
0.657 |
0.439 |
0.380 |
0.521 |
|
Total expenses |
10.949 |
10.438 |
10.887 |
9.851 |
9.615 |
|
Operating result |
(0.642) |
(0.235) |
(0.031) |
(0.255) |
0.397 |
Revenue
Total departmental revenue received in 2016-17 amounted to $10.012 million: $5.636 million in funding from the Australian Government; $4.295 million in contributions received from the states and territories and other revenue; and $0.081 million for resources received free of charge. This represents an increase of $0.416 million (4.3 per cent) on revenue received in 2015-16. Other revenue refers to contributions arising from officers transferring from other agencies.
Expenses
The NBA's expenses for 2016-17 amounted to $9.615 million, 2.4 per cent lower than in 2015-16.
Balance sheet
Details of the NBA's assets and liabilities are presented in the audited financial statements in this report.
Financial assets
The NBA held cash and cash equivalents of $9.884 million at 30 June 2017. This included funds received from all jurisdictions and transferred to the Official Public Account held by the Department of Finance until required for expenditure. Trade and other receivables increased by $0.070 to $0.765 million.
Non-financial assets
There was no significant change in the carrying amount of non-financial assets during the financial year.
Payables
There was no significant change in the carrying amount of Payables during the financial year.
Provisions
Employee provisions, which cover annual and long service leave entitlements, increased slightly by $0.178 million to $1.892million.
Administered finances
The NBA's administered finances include contributions from all states and territories and the Australian Government for the supply of blood and blood products. Each year the Council of Australian Governments (COAG) Health Council approves an annual National Supply Plan and Budget, which is formulated by the NBA from demand estimates provided by the states and territories.
Revenue
Total revenue for 2016-17 is presented in Table 4.3. Total revenue increased by $4.880 million (a 0.5 per cent increase, down from the 12.7 per cent increase the prior year) for the current financial year. In 2016-17, the NBA returned $80.46 million (2015-16 $113 million) to the Commonwealth, State and Territory Governments for the 2015-16 end of year reconciliation as part of the National Blood Agreement.
TABLE 4.3 Administered revenue, 2012-13 to 2016-17
|
Administered revenue |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
2016-17 |
|---|---|---|---|---|---|
|
Funding for supply of |
1,049.337 |
1,095.922 |
922.718 |
1,040.865 |
1,046.325 |
|
Total administered revenues |
1,058.281 |
1,101.410 |
927.522 |
1,045.279 |
1,050.159 |
Expenses
Total administered expenses for 2016-17 including grants and rendering of goods and services are presented in Table 4.4. Administered expenses for 2016-17 decreased by 0.3 per cent over those for 2015-16. The Blood Service as part of the Output Based Funding Model returned $42.23 million in 2016-17 (2015-16 $40.394 million).
TABLE 4.4 Key results of administered expenses, 2012-13 to 2016-17
|
Administered expense |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
2016-17 |
|---|---|---|---|---|---|
|
Grants to the private sector - |
8.092 |
8.331 |
8.577 |
8.830 |
0.401 |
|
Rendering of goods and |
1,003.772 |
1,035.847 |
960.818 |
1,056.815 |
1,061.265 |
|
Other |
0.493 |
0.736 |
0.803 |
0.716 |
1.169 |
|
Total administered expenses |
1,012.357 |
1,044.914 |
970.198 |
1,066.361 |
1,062.835 |
Administered assets and liabilities
Administered assets comprise the following:
- funds held in the Official Public Account
- investments made in relation to the NMF
- Goods and Services Tax (GST) receipts from the Australian Taxation Office and payments to suppliers for products
- blood and blood product inventory held for distribution, including the national reserve of blood products
- a prepayment to the Blood Service as part of the OBFM.
Administered liabilities comprise payables to suppliers.
As a result of the deficit described above, net administered assets decreased by $7.479 million during 2016-17.