Annual Report 2016-17

85 Our finances Revenue Figure 21 shows that our principal source of revenue is government contributions of $6.766 million (68.7% increase) compared to last year of $3.755 million. This increase of around $3.01 million is due to 2 factors: • The 2015–16 recurrent allocation was reduced by around $1.4 million to reduce the cash at bank balance to the buffer amount as set under the NSW Treasury cash management reforms. Recurrent allocation has reverted this year. • The 2016–17 capital allocation was increased by around $1.6 million for the new office fit out. Other revenue items were $773,000 from contractual arrangements for the provision of goods and services (last year: $726,000) and $39,000 from other sources (last year: $12,000). Expenditure Figure 22 shows that our expenses this financial year totalled $6.338 million, being an increase of $498,000 from last financial year (last year $5.84 million). Employee-related expenses were $4.663 million or 73.57% of total expenses. Assets Total assets increased by $1.648 million. Liabilities Total liabilities increased by $407,000 mainly due to an increase in accruals and payment of amount owed to Treasury: see Table 14. Payment of accounts Table 15 shows that we paid all accounts on time and were not required to pay any penalty interest on any account. Consultants We did not engage any consultants this year. Credit card certification The Chief Executive certifies that credit card usage in the Commission has met best practice guidelines in accordance with the Premier’s Memorandum and Treasury Directions. Figure 21. Revenue Figure 22. Expenses Table 15. Accounts paid on time within each quarter Quarter Current (within due date) Less than 30 days overdue Between 30 and 60 days overdue Between 60 and 90 days overdue More than 90 days  overdue $ $ $ $ $ Sep 2016 68,401 nil nil nil nil Dec 2016 17,832 nil nil nil nil Mar 2017 129,743 nil nil nil nil Jun 2017 139,277 nil nil nil nil Quarter Total accounts paid on time Total amount paid Target % Actual % $ $ Sep 2016 100 100 892,602 892,602 Dec 2016 100 100 2,415,394 2,415,394 Mar 2017 100 100 784,782 784,782 Jun 2017 100 100 1,081,488 1,081,488 Table 14. Aged analysis at the end of each quarter Financial summary Our financial result this year was a $1.24 million surplus, up from last financial year’s deficit of $1.347 million. Our income of $7.578 million was derived from government contributions of $6.766 million and the remaining $812,000 from the provision of information management services to other jurisdictions and the sale of publications. $’000 Government contributions Sales Investment Other 0 1000 2000 3000 4000 5000 6000 7000 8000 2016–17 2012–13 2013–14 2014–15 2015–16 0 1000 2000 3000 4000 5000 6000 7000 8000 Employee- related Other operating costs Other (Conduct Division) Depreciation & amortisation $’000 2012–13 2013–14 2014–15 2015–16 2016–17