For 2012–13, the AEC’s operating deficit was $2.1 million compared to $9.2 million in 2011–12. The operating deficit is lower than expected due to:

  • the decrease in long service leave provisions as a result of the increase in the treasury bond rate
  • pre-election enrolment stimulation and referendum expenses delayed to next financial year.

The Balance Sheet as at 30 June 2013 shows total assets of $62.0 million and total liabilities of $38.3 million. The total assets include cash and receivables of $23.0 million.

Net assets have increased by $10.8 million (83 per cent). This is due to the following:

  • decrease in employee provisions as a result of the increase in the treasury bond rate
  • decrease in supplier payables as there were large payables due last year for the Count Me In campaign and simulated election
  • increases in internally developed software from the development of the Electronic Certified List and enhancements to GENESIS
  • increase in land and buildings due to the fit-out of larger working units
  • increases in plant and equipment due to the purchase of multi-function devices and inventory in the preparation for the next federal election
  • increase in appropriations receivable due to the delay in expenditure on pre-election enrolment stimulation and referendum costs.

The Australian National Audit Office has issued an unqualified audit opinion for the AEC’s 2012–13 financial statements.

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