Rural Industries Research & Development Corporation

 
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 Statement of Revenues and Expenses
 

For the Year Ended 30 June 1998			Note	1998 ($)	1997 ($)
OPERATING REVENUES
Commonwealth Appropriation			2(a)	10,820,000	5,627,000
Industry Levies			2(b)	4,417,483	4,242,284
Commonwealth Contributions			2(c)	3,731,384	3,273,303
Interest				788,859	930,682
Other Income			3	2,296,127	2,163,691
Total operating revenues				22,053,853	16,236,960
OPERATING EXPENSES
Research and Development Programs			4	17,496,050	17,880,749
Research Co-ordination and Management			5	1,290,203	1,524,911
Communications			6	658,144	341,019
Corporate Activities			7	542,034	651,457
Administration			8	957,987	1,008,087
Total operating expenses				20,944,418	21,406,223
	Surplus or (deficit) of operating revenues over expenses			1,109,435	(5,169,263)
EQUITY INTERESTS
Accumulated surpluses at beginning of reporting period				5,105,501	10,292,953
Adjustment to accumulated surpluses due to change in accounting policy
				-	(18,189)
	Total available for appropriation			6,214,936	5,105,501
	Accumulated surpluses at end of reporting period		14	6,214,936	5,105,501
The Statement of Revenues and Expenses is to be read in conjunction with the notes to and forming part of the financial statements.

 
  Balance Sheet  

as at 30 June 1998		Note	1998 ($)	1997 ($)
CURRENT ASSETS
Cash		9	5,811,236	3,396,206
Receivables		10	425,406	449,150
Investments		11	3,383,377	5,560,892
Other			20,152	8,500
Total current assets			9,640,171	9,414,748
NON-CURRENT ASSETS
Infrastructure, plant and equipment		12	227,193	318,726
Total non-current assets			227,193	318,726
	Total assets		9,867,364	9,733,474
CURRENT LIABILITIES
Provisions and Payables		13	3,562,482	4,523,930
Total current liabilities			3,562,482	4,523,930
NON-CURRENT LIABILITIES
Provisions and Payables		13	89,946	104,043
Total non-current liabilities			89,946	104,043
	Total liabilities		3,652,428	4,627,973
	Net assets		6,214,936	5,105,501
EQUITY
Accumulated surpluses			6,214,936	5,105,501
Total equity		14	6,214,936	5,105,501
The Balance Sheet is to be read in conjunction with the notes to and forming part of the financial statements.

    Statement of Cash Flows  

For the Year Ended 30 June 1998		Note	1998 ($)	1997 ($)
OPERATING ACTIVITIES
Cash received:
	Commonwealth Appropriations		10,820,000	5,627,000
	Industry Levies		4,480,193	4,292,905
	Commonwealth Contributions		3,732,738	2,959,022
	Interest		787,412	1,018,542
	Other Income		1,956,380	2,422,591
Total cash received			21,776,723	16,320,060
Cash used:
	Research and Development Program Expenditure		18,178,833	17,847,839
	Research Co-ordination and Management		1,295,720	1,543,968
	Corporate and Administration Expenditure		2,034,077	1,963,385
Total cash used			21,508,630	21,355,192
Net cash from operating activities		17(b)	268,093	(5,035,132)
INVESTING ACTIVITIES
Cash received:
	Proceeds from Sale of Non-current Assets		58,500	63,672
Cash Used:
	Purchases of Non-current Assets		89,078	142,838
Net cash from investing activities			(30,578)	(79,166)
	Net increase/(decrease) in cash held		237,515	(5,114,298)
	add cash at 1 July		8,957,098	14,071,396
	Cash at 30 June	17(a)	9,194,613	8,957,098
The Statement of Cash Flows is to be read in conjunction with the notes to and forming part of the financial statements.

  Schedule of Commitments  

For the Year Ended 30 June 1998		1998 ($)	1997 ($)
BY TYPE
OTHER COMMITMENTS
	Operating Leases	310,413	488,410
	Research and Development Programs	35,115,918	31,094,464
Total other commitments		35,426,331	31,582,874
	Net commitments	35,426,331	31,582,874
BY MATURITY
	One year or less	17,912,603	16,690,269
	From one to two years	10,144,498	8,793,509
	From two to five years	7,369,230	6,099,096
Net commitments		35,426,331	31,582,874
The Schedule of Commitments is to be read in conjunction with the notes to and forming part of the financial statements.

  Schedule of Contingencies  

For the Year Ended 30 June 1998		1998 ($)	1997 ($)
CONTINGENT LOSSES
Total contingent losses		-	-
CONTINGENT GAINS
	Net contingencies	-	-
The Schedule of Contingencies is to be read in conjunction with the notes to and forming part of the financial statements.

         Last updated: 20 October 1998 Copyright © RIRDC http://www.rirdc.gov.au/pub/anrep98/financials2.htm