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Notes to and forming part of the financial statements

For the year ended 30 June 2007

Note 17: Reporting of Outcomes

Note 17A: 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 2007. The Corporation operates predominantly in one industry, the grains industry and in one geographical area being Australia.

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

Four outputs are identified for the above outcome.  These are:

• Output 1 - Varieties
• Output 2 - Practices
• Output 3 - New Products
• Output 4 - Communications

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Note 17B - Net Cost of Outcome Delivery

	Outcome 1		Total
	2007	2006	2006	2005
Expenses	$'000	$'000	$'000	$'000
Departmental expenses	115,865	126,720	115,865	126,720
Total expenses	115,865	126,720	115,865	126,720
Other external revenues
Departmental
Interest	5,015	5,673	5,015	5,673
Industry contributions	50,868	60,861	50,868	60,861
Project refunds	3,272	1,533	3,272	1,533
Royalties	2,181	3,516	2,181	3,516
Other	300	488	300	488
Total other external revenues	61,636	72,071	61,636	72,071
Total other external revenues	61,636	72,071	61,636	72,071
Net cost/(contribution) of outcome	54,229	54,649	54,229	54,649

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Note 17C - Major classes of departmental Revenue and Expenses by Output Groups

	Outcome 1								Total
	Output 1		Output 2		Output 3		Output 4
	2007	2006	2007	2006	2007	2006	2007	2006	2007	2006
	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000
Operating expenses
Research and development	52,477	58,887	35,771	37,211	8,686	11,662	6,090	7,570	103,024	115,330
Employees	1,409	1,369	1,408	1,368	1,408	1,368	1,409	1,368	5,634	5,473
Suppliers	1,318	1,149	1,434	1,267	1,128	936	1,183	1,972	5,063	5,324
Depreciation and amortisation	142	106	143	106	143	106	143	106	571	424
Write-down of assets	1226	169	-	0	130	0	-	0	1,356	169
Share of operating results (equity method)	-	-	-	-	217	-	-	-	217	-
Total operating expenses	56,572	61,680	38,756	39,952	11,712	14,072	8,825	11,016	115,865	126,720
Funded by
Revenues from Government	18,219	21,988	12,419	13,895	3,016	4,355	2,114	2,827	35,768	43,065
Interest	2,555	2,897	1,741	1,830	423	574	296	372	5,015	5,673
Industry contributions	25,910	31,075	17,662	19,637	4,289	6,154	3,007	3,995	50,868	60,861
Project Refunds	1,843	634	601	491	541	327	287	81	3,272	1,533
Royalties	545	879	545	879	545	879	546	879	2,181	3,516
Other	75	122	75	122	75	122	75	122	300	488
Total operating revenues	49,147	57,595	33,043	36,854	8,889	12,411	6,325	8,276	97,404	115,136

The Corporation’s outcomes and outputs are described at Note 17A.

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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