DownloadFinancial Information
Summary of Financial performance
Resulting from increased cost control in the first full year of operations for ASADA, the result of $1.040m surplus versus a nil budget surplus was a good outcome. This surplus was due to an increase in user-pays income and lower than expected operating costs.
The result reflects a positive operating environment and is the consequence of improving the financial management of the organisation, attracting appropriately skilled staff and business improvements in each of the business units within ASADA.
With the first full year of operations, ASADA has continued to focus on financial and budgetary management, and business improvements. Financial functions were brought in house during the year to improve ASADA's financial and budgetary information. To sustain the ability to meet the levels of testing established by the government and the growing levels of investigation and enforcement, there will need to be a continuing focus on the financial management of ASADA and the investment required.
Total revenue for the period ended 30 June 2007 was $14.692m, which is $0.364m above the budget of $14.328m. Total expenditure for the period was $13.677m which is $0.667m below the budget of $14.328m. Trade and other receivables are high for the end of the year due primarily to the appropriation from government not being drawn down for the period. The appropriation balance has been reviewed and a portion has been set aside to cover leave provisions, payables and for purchases of capital replacement.
There was significant capital expenditure of $0.398m for the period. A large portion of this was for in-house developed software named the 'Athletes Whereabouts System' with the remainder for the purchase of new, and replacement of existing, plant and equipment.
With the additional roles and functions of ASADA, work continues to be undertaken to ensure that ASADA is robust and capable of responding flexibly to unpredictable events and increases in requirements.