Note 1: Financial performance
Note 2: Financial position
Note 3: People and relationships
Note 4: Appropriations
Note 5: Explanation of major budget variances
Overview
Basis of preparation of the financial statements
The financial statements are required by section 42 of the Public Governance, Performance and Accountability Act 2013 (PGPA Act).
The financial statements and notes have been prepared in accordance with:
- the Public Governance, Performance and Accountability (Financial Reporting Rule) 2015 (FRR), and
- Australian Accounting Standards and Interpretations – Simplified disclosures for Tier 2 Entities under AASB 1060 issued by the Australian Accounting Standards Board (AASB) that apply for the reporting period.
The financial statements have been prepared on an accrual basis and are in accordance with historical cost convention, except for certain assets and liabilities at fair value. Except where stated, no allowance is made for the effect of changing prices on the results or the financial position.
The financial statements are presented in Australian dollars and values are rounded to the nearest thousand dollars unless otherwise specified.
Significant accounting judgements and estimates
In the process of applying the accounting policies listed in this note, the department has made the following judgements that have the most significant impact on the amounts recorded in the financial statements:
- leave provisions involve assumptions based on the expected tenure of existing staff, patterns of leave claims and payouts, future salary movements and future discount rates.
No accounting assumptions or estimates have been identified that have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next accounting period.
New accounting standards
All new/revised/amending standards and/or interpretations that were issued prior to the sign-off date and are applicable to the current reporting period did not have a material impact on the department’s financial statements.
Future Australian Accounting Standard requirements
No new or revised pronouncements were issued by the AASB prior to the finalisation of the financial statements which are expected to have a material impact on the department in future reporting periods.
Taxation
The department is exempt from all forms of taxation except Fringe Benefits Tax (FBT) and the Goods and Services Tax (GST).
Events after the reporting period
No events have occurred after balance date that should be brought to account or noted in the 2021–22 financial statements.
Note 1: Financial performance
|
2022
$’000 |
2021
$’000 |
| Note 1.1: Expenses |
| Note 1.1A: Employee benefits |
| Wages and salaries |
16,238 |
15,881 |
| Superannuation |
| Defined benefit plans |
1,187 |
1,203 |
| Defined contribution plans |
1,924 |
1,823 |
| Leave and other entitlements |
3,066 |
3,256 |
| Total employee benefits |
22,415 |
22,163 |
Accounting policy
Superannuation
Employees of the department are members of the Commonwealth Superannuation Scheme (CSS), the Public Sector Superannuation Scheme (PSS), Public Sector Superannuation accumulation plan (PSSap) or other elected defined contribution schemes.
The CSS and PSS are defined benefit schemes for the Commonwealth. The PSSap is a defined contribution scheme.
The liability for defined benefits is recognised in the financial statements of the Australian Government and is settled by the Australian Government in due course. This liability is reported by the Department of Finance as an administered item.
The department makes employer contributions to the relevant employees’ defined benefit schemes at rates determined by an actuary to be sufficient to meet the current cost to the government and accounts for the contributions as if they were contributions to defined contribution plans.
Leave and other entitlements
Accounting policies for leave and other entitlements are contained at note 3A – Employee Provisions.
|
2022
$’000 |
2021
$’000 |
| Note 1.1B: Suppliers |
| Goods and services |
| Employee related supplier expenses |
215 |
356 |
| Consultants and contractors |
666 |
499 |
| Assets and ICT related |
228 |
336 |
| Travel |
314 |
370 |
| Hire charges and hospitality |
20 |
80 |
| Subscriptions, media and publications |
495 |
619 |
| General office expenses |
193 |
201 |
| Office accommodation |
1,941 |
1,841 |
| Total goods and services |
4,072 |
4,302 |
| Goods supplied |
229 |
251 |
| Services rendered |
3,843 |
4,051 |
| Total goods and services supplied or rendered |
4,072 |
4,302 |
| Other supplier expenses |
| Workers compensation |
57 |
60 |
| Total other supplier expenses |
57 |
60 |
| Total supplier expenses |
4,129 |
4,362 |
Resources received free of charge are included in the above expense categories.
Accounting policy
Short-term leases and leases of low-value assets
The department has elected not to recognise right-of-use assets and lease liabilities for short-term leases of assets that have a lease term of 12 months or less and leases of low-value assets (less than $10,000). The department recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term.
|
2022
$’000 |
2021
$’000 |
| Note 1.2: Own-source income |
| Revenue from contracts with customers |
| Sale of goods |
11 |
11 |
| Rendering of services |
492 |
440 |
| Total revenue from contracts with customers |
503 |
451 |
| Other revenue |
| Resources received free of charge |
| Office accommodation at Parliament House |
1,941 |
1,841 |
| Financial statement audit services from ANAO |
87 |
87 |
| Secondment services |
- |
134 |
| Total other revenue |
2,028 |
2,062 |
| Total own-source income |
2,531 |
2,513 |
| Disaggregation of revenue from contracts with customers |
| Major product / service type: |
| Provision of corporate services |
155 |
90 |
| Provision of parliamentary education services |
337 |
350 |
| Sale of goods |
11 |
11 |
| Total revenue from contracts with customers |
503 |
451 |
Accounting policy
Revenue
The department receives revenue from appropriations, the rendering of services and the sale of goods.
Revenue from sale of goods is recognised when control has been transferred to the buyer. The department reviews contracts with customers to ascertain if the contract is in scope of AASB 15 and if the performance obligations are required by an enforceable contract and they are sufficiently specific to enable the department to determine when they have been satisfied.
The department had no remaining or unsatisfied performance obligations as at 30 June 2022.
The following is a description of the principal activities from which the department generates its revenue:
- provision of corporate services to other government entities via formal contract – revenue recognised over time as identified performance obligations are fulfilled, i.e. as services are rendered.
- provision of parliamentary education services via formal contract - revenue recognised over time as identified performance obligations are fulfilled, i.e. as services are rendered.
- sale of merchandise and educational materials based on customary business practices – revenue recognised at point of time when payment received and control passes to customer, i.e. upon shipment to customer.
The transaction price is the total amount of consideration to which the department expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both.
Receivables for goods and services, which have 30 day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable.
Resources received free of charge
Resources received free of charge are recognised in the statement of comprehensive income as revenue where the amounts can be reliably measured and the services would have been purchased if they had not been provided free of charge. Use of those resources is recognised as an expense.
The department’s resources received free of charge relate to audit services from the Australian National Audit Office, accommodation at Parliament House from the Department of Parliamentary Services.
Revenue from government
The departmental appropriation for the financial year (adjusted for any formal additions and reductions) is recognised as revenue from government when the department gains control of the appropriation. Appropriations receivable are recognised at their nominal amounts.
Note 2: Financial position
|
2022
$’000 |
2021
$’000 |
| Note 2.1: Financial assets |
| Note 2.1A: Cash and cash equivalents |
| Cash at bank |
204 |
147 |
| Total cash and cash equivalents |
204 |
147 |
| Note 2.1B: Trade and Other Receivables |
| Appropriation receivable |
15,660 |
14,805 |
| Goods and services |
68 |
19 |
| GST receivable (from ATO) |
45 |
24 |
| Total receivables |
15,773 |
14,848 |
Accounting policy
Financial assets
Cash is recognised at its nominal amount. Cash and cash equivalents include cash on hand and deposits in bank accounts.
Receivables for goods and services are recognised at nominal amounts due less any impairment allowance account. Collectability of debts is continually reviewed. Allowances are made on an expected loss basis.
Trade receivables and other receivables are recorded at face value less any impairment.
Trade receivables are recognised when the department becomes party to a contract and has a legal right to receive cash. Loans and receivables are assessed for impairment on initial recognition. Impairment allowances are made on a lifetime expected loss basis. Trade receivables are derecognised on payment.
The fair values of the department’s financial assets and liabilities approximate their carrying amounts.
|
2022 |
| $’000 |
$’000 |
$’000 |
$’000 |
$’000 |
| Note 2.2: Non-financial assets |
| Reconciliation of opening and closing balances of property, plant and equipment, right of use and intangibles |
|
PP&E |
Work in
progress
– PP&E |
RoU |
Intangibles |
Total |
| As at 1 July 2021 |
| Gross book value |
1,907 |
- |
64 |
601 |
2,572 |
| Accumulated depreciation, amortisation and impairment |
(10) |
- |
(32) |
(423) |
(465) |
| Total as at 1 July 2021 |
1,897 |
- |
32 |
178 |
2,107 |
| Additions by purchase |
107 |
112 |
- |
12 |
231 |
| Depreciation/amortisation expense |
(139) |
- |
(21) |
(47) |
(207) |
| Disposals |
| Gross value of disposals |
(1) |
- |
- |
(249) |
(250) |
| Accumulated depreciation on disposals |
- |
- |
- |
249 |
249 |
| Other movements |
| Non-reciprocal transfers |
- |
(101) |
- |
- |
(101) |
| Transfers to related entities |
(103) |
- |
- |
- |
(103) |
| Total as at 30 June 2022 |
1,761 |
11 |
11 |
143 |
1,926 |
| Total as at 30 June 2022 represented by: |
| Gross book value |
1,907 |
11 |
64 |
364 |
2,346 |
| Accumulated depreciation, amortisation and impairment |
(146) |
- |
(53) |
(221) |
(420) |
| Total as at 30 June 2022 |
1,761 |
11 |
11 |
143 |
1,926 |
Right of use and intangible assets are measured and carried at cost. Property, plant and equipment assets are carried at fair value following initial recognition at cost.
The department removed from its asset register a number of furniture assets that were identified as belonging to the Department of Parliamentary Services. These items are recorded as a transfer to a related entity in Note 2.2 and the Income Statement.
The department purchased laptops for its staff during the year and ownership of those laptops was transferred to the Department of Parliamentary Services. These items are recorded as a non-reciprocal transfer in Note 2.2 and Statement of Changes in Equity.
Contractual commitments for the acquisition of plant, equipment and intangible assets
The department has $43,772 (2021: $101,548) of contractual commitments payable within 1 year for the acquisition of plant and equipment.
Amounts for capital commitments are GST inclusive.
Accounting policy
Acquisition of assets
Purchases of non-financial assets are initially recognised at cost in the statement of financial position, except for purchases costing less than $2,000, which are expensed in the year of acquisition (other than where they form part of a group of similar items which are significant in total).
The cost of acquisition includes the fair value of assets transferred in exchange and liabilities undertaken. Financial assets are initially measured at fair value.
Property, plant and equipment
Revaluations
Following initial recognition at cost, plant and equipment assets (excluding ROU assets) are carried at fair value less subsequent accumulated depreciation and accumulated impairment losses. Carrying amounts are reviewed every year to determine if an independent valuation is required. The regularity of independent valuations depends upon the volatility of movements in market values for the relevant assets.
Revaluation adjustments are made on a class basis. Any revaluation increment is credited to equity under the heading of asset revaluation reserve except to the extent that it reverses a previous revaluation decrement of the same asset class that was previously recognised through operating result. Revaluation decrements for a class of assets are recognised directly in the surplus/deficit except to the extent that they reverse a previous revaluation increment for that class. Upon revaluation, any accumulated depreciation is eliminated against the gross carrying amount of the asset.
Depreciation
Depreciable plant and equipment assets are written-off to their estimated residual values over their estimated useful lives to the department, using in all cases the straight-line method of depreciation.
Depreciation rates (useful lives), residual values and methods are reviewed at each reporting date and necessary adjustments are recognised in the current, or current, and future reporting periods, as appropriate.
Depreciation and amortisation rates applying to each category of depreciable asset are based on the following useful lives:
| Asset class |
2022 |
2021 |
| Plant and equipment |
5 to 15 years |
5 to 15 years |
| Furniture and fittings |
5 to 100 years |
5 to 100 years |
The depreciation rates for ROU assets are based on the commencement date to the earlier of the end of useful life of the ROU asset or the end of the lease term.
Impairment
All assets were assessed for indications of impairment at 30 June 2022. Where indications of impairment exist, the asset’s recoverable amount is estimated and an impairment loss recognised if the asset’s recoverable amount is less than its carrying amount.
Derecognition
An item of property, plant and equipment is derecognised upon disposal or when no further future economic benefits are expected from its use or disposal. Gains or losses from disposal of plant and equipment are recognised when control of the asset has passed to the buyer.
Lease Right of Use (ROU) Assets
Leased ROU assets are capitalised at the commencement date of the lease and comprise of the initial lease liability amount, initial direct costs incurred when entering into the lease less any lease incentives received.
Following initial application, an impairment review is undertaken for any right of use lease asset that shows indicators of impairment and an impairment loss is recognised against any right of use lease asset that is impaired. Lease ROU assets continue to be measured at cost after initial recognition in Commonwealth agency, GGS and Whole of Government financial statements.
Fair value measurement
All property, plant and equipment is measured at fair value in the statement of financial position. When estimating fair value, market prices (with adjustments) are used where available. Where market prices are not available, depreciated replacement cost is used. A reconciliation of movements in property, plant and equipment is included above.
Intangibles
The department’s intangible assets comprise of internally developed software and purchased software for internal use. These assets are carried at cost less accumulated amortisation and accumulated impairment losses.
Software is amortised on a straight-line basis over its anticipated useful life. The useful life of the department’s software is 3 to 7 years (2021: 3 to 7 years).
All software assets were assessed for indications of impairment as at 30 June 2022.
Inventories
Inventories held for sale are valued at the lower of cost and net realisable value.
|
2022
$’000 |
2021
$’000 |
| Note 2.3: Payables |
| Note 2.3A: Supplier and other payables |
| Trade creditors and accruals |
139 |
314 |
| Salaries and wages |
471 |
419 |
| Superannuation |
71 |
60 |
| FBT payable (to ATO) |
64 |
70 |
| Total supplier and other payables |
745 |
863 |
| The department’s only financial liabilities are supplier payables. |
| Note 2.3B: Interest bearing liabilities |
| Lease liabilities |
11 |
33 |
| Total interest bearing liabilities |
11 |
33 |
| Lease liabilities analysis |
| The department’s lease liability maturity profile is as follows: |
| Within 1 year |
11 |
23 |
| Between 1 to 5 years |
- |
10 |
| Total lease liabilities |
11 |
33 |
The above lease disclosure should be read in conjunction with the accompanying notes.
Accounting policy
Payables
Supplier and other payables are recognised at amortised cost. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced). Supplier and other payables are derecognised on payment. Supplier payables are settled within 20 days.
The liabilities for salaries and superannuation recognised as at 30 June 2022 represents outstanding contributions for the final pay fortnight of the year.
For all new contracts entered into, the department considers whether the contract is, or contains, a lease. A lease is defined as ‘a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration’.
Once it has been determined that a contract is, or contains, a lease, the lease liability is initially measured at the present value of the lease payments unpaid at the commencement date, discounted using the interest rate implicit in the lease, if that rate is readily determinable, or the department’s incremental borrowing rate.
Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is remeasured to reflect any reassessment or modification to the lease. When the lease liability is remeasured, the corresponding adjustment is reflected in the right-of-use asset or profit and loss depending on the nature of the reassessment or modification.
Contingent liabilities and contingent assets
The department had no quantifiable or unquantifiable contingent assets or liabilities as at 30 June 2022 (2021: nil).
|
2022
$’000 |
2021
$’000 |
| Note 2.4: Current / non-current distinction for assets and liabilities |
| Assets expected to be recovered in: |
| No more than 12 months |
| Cash and cash equivalents |
204 |
147 |
| Trade and other receivables |
15,773 |
14,849 |
| Prepayments |
226 |
237 |
| Right of use |
11 |
22 |
| Inventories |
118 |
121 |
| Total no more than 12 months |
16,332 |
15,376 |
| More than 12 months |
| Property, plant and equipment |
1,772 |
1,897 |
| Right of use |
- |
10 |
| Intangibles |
143 |
178 |
| Total more than 12 months |
1,915 |
2,085 |
| Total assets |
18,247 |
17,461 |
| Liabilities expected to be settled in: |
| No more than 12 months |
| Suppliers |
139 |
314 |
| Other payables |
606 |
549 |
| Leases |
11 |
23 |
| Employee provisions |
1,550 |
1,550 |
| Total no more than 12 months |
2,306 |
2,436 |
| More than 12 months |
| Leases |
- |
10 |
| Employee provisions |
5,568 |
6,228 |
| Total more than 12 months |
5,568 |
6,238 |
| Total liabilities |
7,874 |
8,674 |
Note 3: People and relationships
|
2022
$’000 |
2021
$’000 |
| Note 3A: Employee provisions |
| Leave |
| Annual leave |
2,156 |
2,162 |
| Long service leave |
4,962 |
5,616 |
| Total employee provisions |
7,118 |
7,778 |
Accounting policy
Employee benefits
Liabilities for ‘short-term employee benefits’ (as defined in AASB 119 Employee Benefits) and termination benefits due within twelve months of the end of the reporting period are measured at their nominal amounts.
The liability for employee benefits includes provision for annual leave and long service leave. No provision has been made for personal leave as all personal leave is non-vesting and the average personal leave taken in future years by employees of the department is estimated to be less than the annual entitlement for personal leave.
The leave liabilities are calculated on the basis of employees’ remuneration at the estimated salary rates that will apply at the time the leave is taken, plus the department’s employer superannuation contribution rates, and applicable on-costs, to the extent that the leave is likely to be taken during service rather than paid out on termination.
The liability for long service leave has been determined by reference to FRR 24.1(a) using the shorthand method as at 30 June 2022. The estimate of the present value of the liability takes into account attrition rates and pay increases though promotion and inflation.
Note 3B: Key management personnel remuneration
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the department, directly or indirectly, including any director (whether executive or otherwise) of the department.1
The department has determined the key management personnel to be the Clerk, Deputy Clerk, Clerk Assistants and the Usher of the Black Rod. Key management personnel remuneration is reported in the table below.
|
2022
$’000 |
2021
$’000 |
| Key management personnel remuneration |
| Short-term employee benefits |
1,543 |
1,546 |
| Post-employment benefits |
237 |
229 |
| Other long-term employee benefits |
36 |
35 |
| Total key management personnel remuneration |
1,816 |
1,810 |
The total number of key management personnel included in the above table is six individuals (2021: six).
1 The President of the Senate is not considered key management personnel. The powers of the President do not give rise to a capacity to plan, direct or control the activities of the department, or significantly influence the department in its financial or operating policy decisions.
Note 3C: Related party transactions
Related parties to the department are defined as key management personnel and close family members of key management personnel. A related party transaction is a transfer of resources, services or obligations between the department and a related party, regardless of whether a price is charged.
During 2021–22, there were no related party transactions.
Note 3D: Executive remuneration disclosure – Key management personnel
|
|
Short-term benefits |
Post-employment benefits |
Other long-term benefits |
|
|
| Name |
Position title |
Base salary |
Bonuses |
Other benefits and allowances |
Superannuation contributions |
Long service leave |
Other long-term benefits |
Termination benefits |
Total remuneration |
|
|
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
| R Pye |
Clerk of the Senate |
394,446 |
- |
1,558 |
58,575 |
9,896 |
- |
- |
464,475 |
| J Morris |
Deputy Clerk of the Senate |
240,750 |
- |
27,270 |
44,194 |
6,203 |
- |
- |
318,417 |
| T Bryant |
Clerk Assistant, Table |
197,846 |
- |
27,270 |
37,509 |
4,979 |
- |
- |
267,604 |
| R Callinan |
Clerk Assistant, Procedure |
199,927 |
- |
27,270 |
30,291 |
5,032 |
- |
- |
262,520 |
| J Begley |
Usher of the Black Rod |
193,025 |
- |
27,270 |
30,745 |
4,979 |
- |
- |
256,019 |
| T Matulick |
Clerk Assistant, Committees |
180,457 |
- |
25,717 |
35,871 |
4,631 |
- |
- |
246,676 |
| Total1 |
|
1,406,451 |
- |
136,355 |
237,185 |
35,720 |
- |
- |
1,815,711 |
1 The total amounts outlined in the table above correspond with the disclosure at note 3B.
Note 3E: Executive remuneration disclosure – Senior executives and other highly paid staff
During the reporting period, all the department senior executives were included in the key management personnel disclosed above (2021: nil).
The department did not have any other highly paid staff that meet the reporting threshold (2021: nil).
Accounting policy
Remuneration policies, practices and governance arrangements
The Clerk of the Senate’s remuneration is determined by the President of the Senate, after consultation with the Remuneration Tribunal, under section 63 of the Parliamentary Service Act 1999. In practice, the advice of the tribunal and the determinations of the Presiding Officers fix the remuneration of the heads of the four parliamentary departments at the same level. All other Senior Executive Service (SES) staff are remunerated under determinations made by the Clerk of the Senate under subsection 24(1) of the Parliamentary Service Act 1999.
For many years the department’s policy has been that changes in SES terms and conditions reflect equivalent changes for non-SES employees in the department’s enterprise agreements.
The department’s remuneration arrangements do not provide for performance pay for any staff. Staff can also use other services offered at Parliament House, including vehicle parking.
Note 4: Appropriations
|
2022
$’000 |
2021
$’000 |
| Note 4A: Annual appropriations (recoverable GST exclusive) |
| Annual appropriation |
25,811 |
25,810 |
| PGPA Act – section 74 receipts |
665 |
913 |
| Departmental capital budget (DCB)1 |
200 |
401 |
| Total appropriation |
26,676 |
27,124 |
| Appropriation applied (current and prior years) |
25,822 |
24,672 |
| Variance |
854 |
2,452 |
| 1 The DCB is appropriated through theAppropriation (Parliamentary Departments) Act (No. 1) 2021–22. It is not separately identified in the Appropriation Act. |
| Note 4B: Unspent annual appropriations (recoverable GST exclusive) |
| Departmental |
| Appropriation (Parliamentary Departments) Act (No. 1) 2019–20 |
- |
188 |
| Appropriation (Parliamentary Departments) Act (No. 1) 2020–21 |
360 |
14,764 |
| Appropriation (Parliamentary Departments) Act (No. 1) 2021–22 |
15,504 |
- |
| Total |
15,864 |
14,952 |
| Unspent appropriation amounts include the cash at bank balance as at 30 June. |
| Note 4C: Special appropriations managed through third party arrangements (recoverable GST exclusive) |
| Authority2 |
| Department of Finance –Parliamentary Superannuation Act 2004, s. 18 |
2,726 |
2,754 |
| Department of Finance –Australian Constitution, s. 66 |
1,340 |
1,233 |
| Department of Finance –Parliamentary Business Resources Act 2017, s. 59 |
20,348 |
20,657 |
| Total |
24,414 |
24,644 |
| 2 Arrangements have been entered into with the Department of Finance to allow the department to draw upon these appropriations. |
| Note 4D: Net cash appropriation arrangements |
| Total comprehensive income – as per the Statement of Comprehensive Income |
1,487 |
1,500 |
| Plus: depreciation/amortisation of assets funded by appropriations (DCB)1 |
186 |
166 |
| Plus: depreciation of right-of-use assets 2 |
21 |
22 |
| Less: lease principal repayments |
21 |
21 |
| Net Cash Operating Surplus |
1,673 |
1,667 |
1 The DCB is appropriated through the Appropriation (Parliamentary Departments) Act (No. 1) 2021–22. It is not separately identified in the Appropriation Act.
2 The inclusion of depreciation/amortisation expenses related to ROU leased assets and the lease liability principal repayment amount reflects the impact of AASB 16 Leases, which does not directly reflect a change in appropriation arrangements.
Note 5: Explanation of major budget variances
| Explanation of major variance |
Variance to
budget
$’000 |
Variance to
budget
% |
Affected line items |
| Changes in parameters (mainly the bond rate) used to measure employee leave liability balances resulted in an adjustment to employee provisions. |
996 |
4% |
Statement of comprehensive income:Employee benefits |
| 619 |
8% |
Statement of financial position:Employee provisions |
| A transfer of assets to the Department of Parliamentary Services occurred during the year that was not anticipated at the time of the original budget. |
103 |
100% |
Statement of comprehensive income:Assets transferred to related entities |
| 518 |
23% |
Statement of financial position:Property, plant and equipment |
| The Federal election and the continuing impact of the pandemic led to a reduction in supplier expenses, primarily associated with travel related costs, throughout the year compared to the original budget. |
947 |
19% |
Statement of comprehensive income:Suppliers |
| 727 |
24% |
Cash Flow Statement:Cash used – suppliers |