5Financial reporting

The AEC’s 2015–16 financial results were influenced by election expenditure that occurred in the lead-up to the 2016 federal election held on 2 July. The Australian National Audit Office has issued an unqualified audit opinion for the AEC’s 2015–16 financial statements.

The AEC’s financial reporting consists of a financial performance summary, together with the financial statements and supporting notes.

The financial performance summary provides a snapshot of the AEC’s deficit, surplus, balance sheet and net asset information.

The financial statements consist of the auditor’s report, the Electoral Commissioner and Chief Finance Officer statement, and various financial statements and administered schedules. Further information on the financial performance of the AEC is provided in the notes sections.

Financial performance summary

For 2015–16, the AEC’s operating deficit was $25.0 million compared with an operating deficit of $0.4 million in 2014–15. The 2015–16 result was influenced by election expenditure that occurred in the lead-up to the 2016 federal election.

The statement of financial position as at 30 June 2016 shows total assets of $154.8 million and total liabilities of $110.0 million for a net asset position of $44.8 million. Total assets and liabilities have increased from previous years due to the inclusion of balances in relation to the 2016 federal election.

The Australian National Audit Office has issued an unqualified audit opinion for the AEC’s 2015–16 financial statements.

No significant issues of non-compliance in relation to the finance law were reported to the Special Minister of State in 2015–16. This included any failure to comply with the duties of accountable authorities (sections 15–19 of the PGPA Act), significant fraudulent activity and other serious breaches (sections 25–29).

List of financial statements