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Audit Budget
Comparison of the 1994/95 year with the 1993/94 year and the forecast for the 1995/96 year
| |
Actual
1993/94
$000 |
Estimates
1994/95
$000 |
Actual
1994/95
$000 |
Estimates
1995/96
$000 |
Income |
| Practising Licences |
255 |
1003 |
1127 |
1133 |
| Certificates of Compliance |
1171 |
783 |
995 |
966 |
| Miscellaneous |
|
672 |
|
|
| Total Income |
1426 |
2458 |
2122 |
2099 |
| |
Expenditure |
| Personal |
125 |
78 |
201 |
147 |
| Operating |
442 |
2240 |
1727 |
1805 |
| Depreciation/Capital |
2 |
2 |
5 |
4 |
| Overheads |
63 |
138 |
140 |
177 |
| Total Expenditure |
632 |
2458 |
2073 |
2133 |
| |
| Surplus (Deficit) |
794 |
0 |
49 |
(34) |
Notes
- Income from practising licences and certificates of compliance increased by 49% over that received for the previous year. That income coupled with under-expenditure in the operating area resulted in a surplus in the audit account of $49,000. The under-expenditure can be attributed to:
- work being carried out at less cost than that budgeted
- less work being contracted than expected due to industry absorption difficulties with large numbers of inspections being required to be carried out
- not all contracted work being completed by 30 June 1995
- The personnel estimates were exceeded by $123,000 due to the need to employ extra temporary staff on administration duties associated with the inspection of work programme.
- Accumulated surpluses:
| |
Actual
1993/94
$000 |
Actual
1994/95
$000 |
Estimated
1995/96
$000 |
| Opening balance |
|
794 |
843 |
| Add surplus (deficit) |
794 |
49 |
(34) |
| Closing balance |
794 |
843 |
809 |
The closing balance represents the accumulated surpluses and deficits arising from audit operations from 1 July 1993.
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