2012 Annual Report - Racing NSW
2012 Annual Report - Racing NSW
2012 Annual Report - Racing NSW
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PROFIT/LOSS STATEMENT WORKERS COMPENSATION FUND<br />
FOR THE YEAR ENDED 30 JUNE, <strong>2012</strong> RACING <strong>NSW</strong> ABN 86 281 604 417<br />
<strong>2012</strong> 2011<br />
$ $<br />
REVENUE<br />
Revenue from Operating Activities<br />
Workers Compensation Premiums/Charges 11,629,380 11,552,535<br />
11,629,380 11,552,535<br />
Revenue from Non Operating Activities<br />
Interest - Workers Compensation Fund 1,832,176 1,530,704<br />
1,832,176 1,530,704<br />
REVENUE FROM ORDINARY ACTIVITIES 13,461,556 13,083,239<br />
EXPENSES<br />
Workers Compensation Payments 9,877,461 9,857,309<br />
Workers Compensation Administrative & Regulatory 1,792,523 1,868,655<br />
Legal - (20)<br />
Finance Costs 250,364 232,321<br />
EXPENSES FROM ORDINARY ACTIVITIES 11,920,348 11,958,265<br />
Operating Profit for the period 1,541,208 1,124,974<br />
Workers Compensation Payments Relating to Prior Year - 1,897,033<br />
Funds before allocation of additional provision for possible future liabilities 1,541,208 (772,059)<br />
Additional provision for possible future liabilities 149,096 763,633<br />
Funds Transferred to Reserves 1,392,112 (1,535,692)<br />
40
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