Annual Report 2015–2016

FINANCIAL PERFORMANCE SUMMARY
This section highlights NHMRC’s financial performance during 2015–16 for both Departmental and
Administered activities.
FINANCIAL PERFORMANCE – DEPARTMENTAL
NHMRC’s Departmental financial performance for 2015–16 is summarised in the following table.
PART 5 financial report
Table 27
Departmental financial performance
30 June 2016
($’000)
30 June 2015
($’000)
Operating expenses 41,470 43,751
Own-source income (1,248) (699)
Gains (430) (105)
Net cost of services 39,792 42,947
Revenue from government (40,237) (40,722)
Operating (deficit) / surplus 445 (2,225)
Change in asset revaluation surplus* 51 0
Total Operating (deficit) / surplus 496 (2,225)
* Due to an asset revaluation of property, plant and equipment in 2015–16.
NHMRC’s operating result for 2015–16 was a surplus of $0.5 million. This was within the approved
Department of Finance loss of $2.2 million for non-appropriated expenses for depreciation and amortisation.
FINANCIAL PERFORMANCE – ADMINISTERED
NHMRC administered $828.8 million in expenses on behalf of Government during 2015–16. Funding through
NHMRC’s Medical Research Endowment Account (MREA) amounted to $815.2 million. The remaining
$13.6 million relates to expenses NHMRC administers for a range of activities related to dementia research,
anti-venom research, streamlining health and medical research initiatives, clinical trials reform and research
evidence for clinical practice and policy through the Cochrane collaboration.
The decrease in Administered expenses ($21.6 million) largely reflects delays in grants awarded from the
Boosting Dementia Research budget measure and lower than expected awards from previous rounds of
Partnership projects, Hearing Loss Prevention Program and Program grants.
The balance of the MREA was $151.4 million at 30 June 2016.
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Annual Report of the National Health and Medical Research Council 2015–2016