Financial summary
This financial overview is a summary of the financial performance and position of the Commission.
The Commission’s financial reporting framework
A comprehensive set of 2017-18 financial statements covering all aspects of the Commission’s activities commences on page 90. These statements include explanatory notes and comparative figures for 2016-17.
Internal audits are performed by the Finance Manager to ensure efficiency and economy of systems and to identify financial, operational and business continuity risks. Audit results are duly reported to the Commissioner and Registrar to determine whether any remedial actions are required and to establish compliance with statutory requirements and best practice.
Operating result
The operating result for 2017-18 was a surplus of $180,294.
Summarised statement of comprehensive income
Summary statement	
30 Jun 2018	
30 Jun 2017	

$000	
$000	

Income	
3,991	
4,119	

Less: expenses	
3,811	
3,840	

Operating result for financial year – surplus	
180	
279	

	Income
Income by type	
30 Jun 2018	
30 Jun 2017 	

$000	
$000	

State Government funding	
1,522	
1,630	

Australian Government funding	
1,800	
1,800	

Doomadgee funding - (QLD State)	
626	
626	

Other revenue 	
43	
63	

Total	
3,991	
4,119	

The reduction in the State Government funding is the return of surplus funds of $165,000 offset by the CPI increase applied to the 2017-18 funding. The reduction in other revenue is primarily due to the recoupment by the Commission of prior year long service leave expenditure for Local Commissioners of $24,000 in 2016-17 only.
Expenses
Expenses by type	
30 Jun 2018	
30 Jun 2017 	

$000	
$000	

Employee expenses	
2,716	
2,795	

Supplies and services	
959	
954	

Depreciation and amortisation	
96	
49	

Other expenses	
40	
42	

Total	
3,811	
3,840	

The Commission’s employee expenses decreased slightly in 2017-18. Increases due to wage rises and increments and additional training costs were compensated by reduced costs due to cancellations in scheduled conferencing in some communities, changes in operational processes, vacancies and staff absence on sick leave without pay.
Depreciation and amortisation expenditure increased in 2017-18 due to the effect of the completion of the service provider portal add-on to the Commission’s Customer Relationship Management software amortised over the remaining life of the software.

Table 21: Expenses by category and percentage of total expenditure 1 July 2017 to 30 June 2018.
Category	
Percentage	

Employee salaries – FRC staff	
47.5%	

Employee salaries – Local Commissioners	
10.7%	

Employee on costs – FRC staff	
9.3%	

Employee on costs – Local Commissioners	
1.8%	

Other employment costs	
1.9%	

Communications	
0.5%	

Internet & IT	
4.6%	

Motor vehicle	
1.5%	

Property	
5.8%	

Travel	
5.8%	

General operating	
7.0%	

Other expenses	
3.6%	

Total	
100.0%	

Remote location and Cairns registry expenditure
Table 22: Operating costs by remote location
1 July 2017 to 30 June 2018.
Community	
Qtr 1	
Qtr 2	
Qtr 3	
Qtr 4	

Aurukun	
167K	
144K	
116K	
152K	

Coen	
33K	
34K	
32K	
60K	

Doomadgee	
137K	
149K	
124K	
154K	

Hope Vale	
74K	
72K	
69K	
91K	

Mossman Gorge	
30K	
37K	
35K	
40K	

TOTAL	
441K	
436K	
376K	
497K	

Table 23: Quarterly operating costs, Cairns registry
1 July 2017 to 30 June 2018.
Community	
Qtr 1	
Qtr 2	
Qtr 3	
Qtr 4	

Corporate Services	
253K	
248K	
219K	
228K	

Operations	
234K	
213K	
235K	
243K	

Gov/Board Reporting	
56K	
49K	
36K	
46K	

TOTAL	
543K	
510K	
490K	
517K	

	Statement of financial position
Total assets at 30 June 2018 consisted of current assets of cash, prepayments and receivables in addition to non-current plant and equipment and intangible assets.
Total liabilities as at 30 June 2018 consisted of payables and accrued employee benefits.
Statement of financial position	
30 Jun 2018	
30 Jun 2017 	

$000	
$000	

Current assets	
1,900	
1,697	

Non-current assets	
8	
60	

Total assets	
1,908	
1,757	

Current liabilities	
296	
325	

Total liabilities	
296	
325	

Net assets	
1,612	
1,432	

Total equity	
1,612	
1,432	

Cash flow statement
The cash flow statement shows the nature and amount of the Commission’s cash inflows and outflows from all activities.
Cash flow statement	
30 Jun 2018	
30 Jun 2017 	

$000	
$000	

Operating activities	
270	
394	

Investing activities	
(44)	
(34)	

Net increase/(decrease) in cash held	
226	
360	

Cash at beginning of financial year	
1,635	
1,275	

Cash at end of financial year	
1,861	
1,635