Actual results versus budget targets

The following information provides a comparison of the financial targets and outcomes against criteria included in the Resource Agreement between the Chief Executive Officer, the Minister for Transport and the Treasurer.

  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 organisationís salary cap.

AR_P_Annual_Report_2018_2019_Financials_only.pdf icon Annual Report: Financials and notes only (2018/2019) Kb

 

Transport Annual Report

Page last updated: Mon Oct 21 2019 4:19:14 PM