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FINANCIAL STATEMENTS
Summary of financial performance
In 2010–11 additional funding was provided to Department of Immigration and Citizenship for the operational arrangements for the Office of the MARA. This was reflected as a measure in the 2010–11 Budget.
The total appropriation for ordinary annual services for the Office of the MARA was $5.8 million in 2010–11. The appropriation was supplemented by receipts of $13,000 from sale of goods and rendering of services and $23,000 from a reversal of previous asset write-downs and impairment.
The Department of Immigration and Citizenship 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 Citizenship Annual Report 2010–11. The financial transactions relating to the Office of the MARA have been included in the department’s financial results.
While not reported separately for audit purposes, the revenue and expenditure data relating to the Office of the MARA has been separately monitored and an income statement for the year ended 30 June 2011 is provided at Table 12. As shown in the table, the operating result was a surplus of $105,000.
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. This fee is set in accordance with the Migration Agents Registration Charge Act 1997.
Administered revenue generated from migration agent registration application fees amounted to $6.219 million7 for the financial year 2010–11.
Income statement
Table 12 shows the Office of the MARA’s revenue and expenditure for the year ended 30 June 2011.
Table 12: Income statement for the Office of the MARA, 2010–11
|
2011 |
2010 |
Revenue |
||
Revenue from Government |
5,800 |
6,407 |
Sale of goods and rendering of services |
13 |
17 |
Reversal of previous asset write-downs and impairment |
23 |
0 |
Total revenue |
5,835 |
6,424 |
|
||
Expenditure |
||
Employee expense |
3,064 |
2,472 |
Depreciation and amortisation expense |
49 |
13 |
Supplier expense |
2,617 |
3,949 |
Total expenses |
5,730 |
6,434 |
|
||
Operating Result (Deficit)/Surplus |
105 |
(9) |
1. From 1 July 2010, expenses relating to depreciation and amortisation are no longer appropriated by government.
2. Due to a change in the treatment of corporate overheads, the previous year’s amounts for sales of goods and services and supplier expenses were amended slightly to be comparable with the current year.