FINANCIAL STATEMENTS

Summary of financial performance

In 2013–14 additional funding was provided to the Department of Immigration and Border Protection for the operations of the Authority. This was reflected as a measure in the 2013–14 Budget.

The total appropriation for services for the Authority was $5.421 million in 2013–14. This figure included revenue generated from the sale of goods and rendering of services.

The Department of Immigration and Border Protection has prepared financial statements in accordance with the Finance Minister’s Orders made under the Financial Management and Accountability Act 1997, including the Australian Accounting Standards. The accounts have been audited by the Australian National Audit Office and will be reported in the Department of Immigration and Border Protection Annual Report 2013-14. The financial transactions relating to the Authority have been included in the department’s financial results.

While not reported separately for audit purposes, the revenue and expenditure data relating to the Authority has been separately monitored and an income statement for the year ended 30 June 2014 has been provided at Table 8. As shown in the table, the operating result was a deficit of $347 000.

Income statement

Table 8: Income statement for the Authority, 2013–14

 

2014
$’000

2013
$’000

Revenue

Appropriation from Government

5407

5641

Sale of goods and rendering of services

15

9

Total revenue

5422

5650

 

Expenditure

Employee expenses

3681

3471

Supplier expense

1486

2458

Depreciation and amortisation expense

602

344

Total expenses

5769

6273

 

Operating Result (deficit)/Surplus

(347)

(623)


Note: This deficit can be fully attributed to depreciation for which the Authority is not funded.
Administered revenue

Administered revenues are revenues relating to the course of ordinary activities performed by the department on behalf of the Australian Government.

Administered revenue collections are transferred to the Official Public Account maintained by the Department of Finance and Deregulation.

The charge payable by an individual applying for registration as a migration agent is administered revenue. The fee is set in accordance with the Migration Agents Registration Application Charge Act 1997.

Until 30 September 2013, GST was deducted from agent application fees and remitted to the Australian Taxation Office. From 1 October 2013, it was determined that GST did not apply to this charge.

Administered revenue generated from migration agent application fees amounted to $7.8 million for the financial year 2013–14 exclusive of GST.