Statement of Intent 2013 to 2016 - Human Rights Commission

HUMAN RIGHTS COMMISSION | STATEMENT OF INTENT41Forecast statement of financial positionAs at 30 June 2013Current assets2012/13 2013/14 2014/15 2015/16Estimated Forecast Forecast ForecastProjected Actual Budget Budget Budget$000s $000s $000s $000sCash at Bank 3,750 2,583 2,273 2,523Accounts receivable 41 27 39 51GST receivablePrepayments 128 37 27 26Total Current Assets 3,919 2,647 2,339 2,600Deduct Current liabilitiesAccounts payable 422 422 422 422GST payable 134 119 165 159Finance Lease 25 16Provision for Annual leave 675 610 582 598Total Current Liabilities 1,256 1,167 1,169 1,179Working capital 2,662 1,480 1,170 1,421Non current assets 669 991 1,108 914Non current liabilities 78 62 62 62Accumulated Funds 3,253 2,409 2,216 2,273Balance B/f 4,156 3,251 2,405 2,210Net Surplus -903 -844 -193 57Accumulated Funds 25 3,253 2,409 2,216 2,27325 Accumulated Funds are maintained to address variation in work activities and funding requirements. Two critical applications have been defined for Accumulated Fundsas a result of repeated reviews in recent years: to meet the targeted level of Funds required for operations and to enable the Commission to operate under a flat Crowncontribution until 2020. The targeted level of funds is generally more than $1m. The target includes a fixed amount for OHRP and HRC litigation support for significantmatters; a cycle of building funds for the National Plan of Action every 5 years; on-going retention of funds for replacement of assets, as indicated by depreciation; andfunds committed for an EDRMS project with expected delivery over 2013–16. Accumulated Funds more than cover the targeted level in the near term, but are significantlyreduced in the forecast for FY18, FY19, and FY20.