Actual results versus budget targets
2018-2019 Actual results versus budget targets
| 2018-19 Target $ 000 |
2018-19 Actual $ 000 |
Variation $ 000 |
Note | |
|---|---|---|---|---|
| Total cost of services. | 436,152 | 412,166 | (23,986) | 1 |
| Net cost of services. | 99,411 | 70,055 | (29,356) | 2 |
| Total equity. | 806,450 | 856,066 | 49,616 | 3 |
| Net increase/(decrease) in cash held. | 13,562 | 48,304 | 34,742 | 4 |
| Approved full time equivalent (FTE). | 1,359 | 1,312 | (47) | 5 |
Notes
These notes should be read in conjunction with the Explanatory Statement to the Financial Statements.
Note 1: Total cost of services
The total cost of services actual was lower than the budget target mainly due to the deferral of the Busselton-Margaret River Regional Airport Upgrade project and underspends in grants and operating activities.
Note 2: Net cost of services
The lower net cost of services result is mainly due to the lower total cost of services and increased revenue related to the revaluation increment of land.
Note 3: Total equity
The higher than expected total equity is mainly a result of an increased accumulated surplus due to the favourable result in 2017-18.
Note 4: Net increase/(decrease) in cash held
The higher than estimated net increase in cash held is predominantly due to underspends in grants, operating activities and capital projects.
Note 5: Approved FTE
The actual paid FTE is lower than the target, primarily due to a concerted effort by DoT to operate within the organisation’s salary cap.
| Annual Report: Financials and notes only (2018/2019) | Kb |
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