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Financial Performance
This section provides a summary of the NBA's financial performance for 2018-19. 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 2018–19.
Departmental finances
The NBA's departmental finances cover the NBA's operations.
Operating result
The NBA's income statement reports a 2018-19 operating loss of $0.677 million, compared with an operating loss of $2.052 million in 2017-18.
Revenue & expenses | 2014–15 ($'000) |
2015–16 ($'000) |
2016–17 ($'000) |
2017–18 ($'000) |
2018–19 ($'000) |
---|---|---|---|---|---|
Contributions from the Australian government | 6.266 | 5.719 | 5.636 | 5.590 | 5.682 |
Contributions from states and territories and other revenue | 4.590 | 3.877 | 4.376 | 4.087 | 4.469 |
Total revenue | 10.856 | 9.596 | 10.012 | 9.677 | 10.151 |
Employee expenses | 6.695 | 6.469 | 6.744 | 6.637 | 7.438 |
Supplier expenses | 3.753 | 3.002 | 2.350 | 4.698 | 2.909 |
Other expenses | 0.439 | 0.380 | 0.521 | 0.394 | 0.481 |
Total expenses | 10.887 | 9.851 | 9.615 | 11.729 | 10.828 |
Operating result | (0.031) | (0.255) | 0.397 | (2.052) | (0.677) |
Revenue
Total departmental revenue received in 2018-19 amounted to $10.151 million: $5.682 million in funding from the Australian government; $4.469 million in contributions received from the states and territories and other revenue; and $0.066 million for resources received free of charge. This represents an increase of $0.474 million (4.90 per cent) on revenue received in 2017-18. Other revenue refers to contributions arising from officers transferring from other agencies.
Expenses
The NBA's expenses for 2018-19 amounted to $10.828 million. This represents a decrease of $0.901 million (7.70 per cent) on total expenses from 2017-18.
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 $8.678 million at 30 June 2019. 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 $0.434 to $1.353 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 by $0.369 million to $2.414 million.
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 2018-19 is presented in Table 4.3. Total revenue increased by $49.173 million (a 4.2 per cent increase, down from the 10.35 per cent increase the prior year) for the current financial year. In 2018-19, the NBA returned $52.00 million (2017-18 $39.38 million) to the Commonwealth, state and territory governments for the 2017-18 end of year reconciliation as part of the National Blood Agreement.
Administered revenue | 2014-15 ($'000) |
2015-16 ($'000) |
2016-17 ($'000) |
2017-18 ($'000) |
2018-19 ($'000) |
---|---|---|---|---|---|
Funding for supply of blood and blood products |
922.718 | 1,040.865 | 1,046.325 | 1,153.302 | 1,203.591 |
Total administered revenues | 927.522 | 1,045.279 | 1,050.159 | 1,158.748 | 1,207.921 |
Expenses
Total administered expenses for 2018-19 including grants and rendering of goods and services are presented in Table 4.4. Administered expenses for 2018-19 increased by 2.67 per cent over those for 2017-18. The Blood Service as part of the Output Based Funding Model returned $39.70 million in 2018 19 (2017-18 $22.273 million).
Administered expense | 2014-15 ($'000) |
2015-16 ($'000) |
2016-17 ($'000) |
2017-18 ($'000) |
2018-19 ($'000) |
---|---|---|---|---|---|
Grants to the private sector - non-profit organisation |
8.577 | 8.830 | 0.401 | 0.599 | 0.738 |
Rendering of goods and services - external entities |
960.818 | 1,056.815 | 1,061.265 | 1,163.196 | 1,193.734 |
Other | 0.803 | 0.716 | 1.169 | 1.275 | 1.600 |
Total administered expenses | 970.198 | 1,066.361 | 1,062.835 | 1,165.070 | 1,196.072 |
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.
During 2018-19 net administered assets increased by $15.253 million.