Year in review

AEC overview

Report on performance: Outcome 1

Report on performance: Outcome 2

Report on performance: Outcome 3

Management and accountability

Financial performance and future operations



Financial performance and future operations

Updated: 17 December 2010

Analysis of financial performance

For 2008–09, the AEC recorded an operating surplus of $4.3 million. This is a turnaround from the $9.9 million deficit recorded in 2007–08. The movement between the financial years is mostly due to 2007–08 incurring expenditure for the 2007 federal election. Non-election expenses remained constant between the two years. Main movements were in:

  • property expenses due to increases in lease costs of $0.9 million
  • travel by $1.2 million due to increased relocation and non-election domestic travel.

The Balance Sheet as at 30 June 2009 shows total assets of $56.5 million and a total liabilities of $31.2 million. The total assets include cash and receivable of $30.3 million.

Net Assets have increased by $9 million (56 per cent). This increase can be attributed to:

  • the increase in Appropriation Receivable which is due to the operating surplus recorded in 2008–09
  • an increase in Non-Financial Assets ($6 million) due to $3.1 million in revaluations and expenditure on GENESIS, ELMS, RMANS, server and printer refresh and property fitouts
  • the decrease in suppliers of $2 million which is due to 2007–08 having a number of IT related accruals which did not repeat in 2008–09.

The Australian National Audit Office issued an unqualified audit opinion for the AEC's 2008–09 financial statements.

Developments that have affected or may affect operations

There have been no developments that have affected or may affect the operations of the AEC in 2008–09.