Annual report 2003 - 2004
Department of the Chief Minister
Dept. of the Chief Minister annual report; Department of the Chief Minister annual report; Reports; PublicationNT
Made available via the Publications (Legal Deposit) Act 2004 (NT).
Northern Territory. Dept. of the Chief Minister -- Periodicals; Executive departments -- Northern Territory -- Periodicals
Dept. of the Chief Minister
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66 DEPARTMENT OF THE CHIEF MINISTER FI N A N C IA L ST A TE M EN TS DEPARTMENT OF THE CHIEF MINISTER FINANCIAL STATEMENT OVERVIEW FOR THE YEAR ENDED 30 JUNE 2004 STATEMENT OF FINANCIAL PERFORMANCE For the year ended 30 June 2004, the Department recorded a net deficit of $0.53 million in comparison to a budgeted net deficit of $0.98 million. This positive year end result was attributed to higher than expected Agency sourced revenue. Total Operating Revenue for the year was $48.98 million, of which Output Revenue of $42.55 million was the single largest component. The balance of $6.43 million comprised of a notional revenue amount of $3.66 million for services received free of charge from the Department of Corporate and Information Services; $2.62 million in Departmental revenue; and $0.15 million in grant revenue from the Commonwealth. Total Expenses of $49.51 million comprised $24.42 million for employee costs, $19.75 million for administrative expenditure (which includes a notional amount of $3.66 million for services received free of charge) and the balance of $5.34 million being grant funding expenditure. STATEMENT OF FINANCIAL POSITION The net assets position of the Department at 30 June 2004 was $45.23 million compared to a net position of $38.51 million at the commencement of the financial year. This increase was largely a result of equity injections from Government to provide for rail corridor works for which the Department was responsible. The transformation of the Northern Territory Electoral Commission as a separate Agency from the Department had an impact on opening balances in the Statement of Financial Position. In accordance with the provisions of the Financial Management Act, balances directly attributed to the Commission were transferred from this Department to the new Agency and comprised of $1 000 in assets and $24 000 in liabilities. BUDGET VS PERFORMANCE 60 50 40 30 20 10 0 Employee $24.36 $24.42 Administrative $19.44 $19.75 Grants $5.33 $5.34 Revenue $48.15 $48.98 $ M IL LI O N S Budget ($ M) Actual ($ M)