Australian Government: Grains Research and Development CororationGRDC Annual Report 2005-2006

Home › Financial Statements › Notes to and forming part of the Financial Statements: Note 18. Reporting of Outcomes

Notes to and forming part of the Financial Statements

For the year ended 30 June 2006

In this section:

Note 18: Reporting of Outcomes


Note 18A: Outcomes of the Corporation

Corporation activity involves the identification, co-ordination, funding and evaluation of research and development for Australia's grain industries. These financial statements provide a detailed overview of the Corporation's total financial operations for the year ended 30 June 2006. The Corporation operates predominantly in one industry, the grains industry and in one geographical area being Australia.

Outcome 1 - Through its commitment to innovations, an Australian grains industry that is profitable and environmentally sustainable for the benefit of the industry and wider community.

Four outputs are identified for each outcome. The outputs for outcome 1 are:

Note 18B - Net Cost of Outcome Delivery
  Outcome 1 Total
2006 2005 2006 2005
$'000 $'000 $'000 $'000
Departmental expenses 126,720 119,528 126,720 119,528
Total expenses 126,720 119,528 126,720 119,528
Other external revenues
Departmental
Interest 5,673 7,599 5,673 7,599
Industry contributions 60,861 64,193 60,861 64,193
Project refunds 1,533 1,238 1,533 1,238
Royalties 3,516 1,150 3,516 1,150
Reversal of previous asset write-downs 0 10 0 10
Other 488 69 488 69
Total Departmental 72,071 74,259 72,071 74,259
Total other external revenues 72,071 74,259 72,071 74,259
Net cost/(contribution) of outcome 54,649 45,269 54,649 45,269
Note 18C - Major departmental Revenue and Expenses by Output Group
Outcome 1 Total
Output 1 Output 2 Output 3 Output 4
2006 2005 2006 2005 2006 2005 2006 2005 2006 2005
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
Operating expenses
Research and development 58,887 48,698 37,211 42,367 11,662 6,555 7,570 8,735 115,330 106,355
Employees 1,369 1,746 1,368 1,744 1,368 872 1,368 872 5,473 5,234
Suppliers 1,149 1,983 1,267 1,850 936 756 1,972 939 5,324 5,528
Depreciation and amortisation 106 121 106 120 106 60 106 60 424 361
Write-down of assets 169 2,050 0 0 0 0 0 0 169 2,050
Total operating expenses 61,680 54,598 39,952 46,081 14,072 8,243 11,016 10,606 126,720 119,528
Funded by
Revenues from Government 21,988 15,950 13,895 13,609 4,355 2,398 2,827 3,785 43,065 35,742
Interest 2,897 3,391 1,830 2,893 574 510 372 805 5,673 7,599
Industry contributions 31,075 28,646 19,637 24,442 6,154 4,307 3,995 6,798 60,861 64,193
Project Refunds 634 338 491 649 327 150 81 101 1,533 1,238
Royalties 879 760 879 200 879 97 879 93 3,516 1,150
Reversal of previous asset write-downs 0 4 0 4 0 1 0 1 0 10
Other 122 22 122 22 122 11 122 14 488 69
Total operating revenues 57,595 49,111 36,854 41,819 12,411 7,474 8,276 11,597 115,136 110,001

The Corporation's outcomes and outputs are described at Note 18A.

The Corporation uses actual expenses for the allocation of Research and Development expenses and some supplier expenses. All other expenses are apportioned across outputs evenly. Revenues uses actual income for allocation of project refunds, reversals of previous asset write-down and some other income. All other revenue is apportioned across outputs based on Research and Development expenditure.

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