annual report 08-09 - Public Interest Advocacy Centre

FINANCIAL
STATEMENTS
PUBLIC INTEREST ADVOCACY CENTRE LTD
ABN 77 002 773 524
DISCUSSION AND ANALYSIS OF THE FINANCIAL
STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2009
Information on Public Interest Advocacy Centre
Limited Concise Financial Report
The concise financial report is an extract from the full financial
report for the year ended 30 June 2009. The financial statements
and disclosures in the concise financial report have been derived
from the 2009 financial report of Public Interest Advocacy Centre
Limited. A copy of the full financial report and auditor’s report will
be provided to any member, free of charge, upon request.
The discussion and analysis is provided to assist members in
understanding the concise financial report. The discussions and
analysis is based on Public Interest Advocacy Centre Limited’s
financial statements and the information contained in the concise
financial report has been derived from the full 2009 Financial
Report of Public Interest Advocacy Centre Limited.
Income Statement
The company’s revenue increased from by $648,407 on the prior
year or approximately 31% predominately due to increased
grants and other contributions. Increased grants were mainly
attributable to funding from the Public Purpose Fund and Legal
Aid NSW. Management fees recovered from PILCH increased by
$162,662 due to additional costs incurred by the company in
relation to the expansion of PILCH’s operations and additional
costs attributable to the termination of the management
agreement as at 30 June 2009.
As a result of the increased revenue base, the company also
increased its level of expenditure by $597,856 or approximately
28%. The increase in expenditure is almost entirely attributable to
increased employment costs. During the year, the company has
been able to expand its existing program work in addition to the
establishment of new programs.
For the year ended 30 June 2009, the company recorded an overall
operating surplus of $35,418 as compared to an operating loss in
the prior year of $15,132.
Balance Sheet
As a result of the small operating surplus, the overall net asset
position of the company has improved by approximately 6%. The
company continues to hold high levels of cash reserves which
to a large extent are offset by the corresponding amounts of
unexpended grants. The company maintained appropriate and
consistent levels of working capital at year end. There are no other
notable movements or issues relating to the company’s financial
position. Allens Arthur Robinson for its continuing support for the
Indigenous Justice Progrram and for printing the newsletter of the
Indigenous Justice Program, Talkin’ Justice
Cash Flow Statement
The company continues to generate positive cash flows from
operating activities, however this decreased by $344,478 from
the prior year. This decrease is largely attributable to increase in
employment costs paid during the year. A small amount of the
surplus operating cash flows was used to purchase additional
plant and equipment for the company’s use.
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PUBLIC INTEREST ADVOCACY CENTRE • ANNUAL REPORT 2008-2009