YMAC Annual Report 2022

Notes to the Consolidated Financial Statements
as at 30 June 2022
2022 2021
NOTE 9 - PROVISIONS $ $
Note 9A Employee Provisions
Salaries and wages 27,136 25,151
Employee provisions 3,539,358 2,501,227
Total employee provisions 3,566,494 2,526,378
No more than 12 months 3,259,387 2,195,039
More than 12 months 307,107 331,339
NOTE 10 - SUPPLIER PAYABLES
3,566,494 2,526,378
Trade creditors 924,329 969,720
GST payable/(receivable) 609,097 633,033
Operating Lease Rentals 40,506 36,132
Total Supplier Payables 1,573,932 1,638,886
All suppliers are current and settlement is usually made net 30 days.
NOTE 11 - UNEXPENDED GRANTS
Unexpended grant carried forward 3,287,109 5,292,068
Unexpended grant carried forward represents grant funds received specifically for approved budget
items and which are repayable to the funding organisation to the extent the funds are unspent
NOTE 12 - INCOME RECEIVED IN ADVANCE
Opening Balance 6,371,569 279,619
Movement (1,813,944) 6,091,950
Closing Balance 4,557,625 6,371,569
NOTE 13 - ACCRUALS
Accrued Wages/Superannuation 613,771 598,867
General accruals 902,984 786,190
Assets/benefits held for return/distribution 191,788 219,788
Total Accruals 1,708,543 1,604,845
NOTE 14 - EQUITY
Analysis of equity
Accumulated surplus carried forward 11,080,137 9,807,003
Change in accounting policy - -
Accumulated surplus as at 1 July 11,080,137 9,807,003
Surplus from ordinary activities 1,754,119 1,273,134
Accumulated surplus as at 30 June 12,834,256 11,080,137
Revaluation reserve 129,537 94,437
Total equity as at 30 June 12,963,793 11,174,574
Yamatji Marlpa Aboriginal Corporation | Annual Report 2022 | 69