Consolidated Financial Statements

For the year ended 30 June 2021

(ABN 84 369 219 084)

Pursuant to section 7.6(4) of the Government Sector Finance Act 2018 (‘the Act’), we state that these financial statements:

have been prepared in accordance with the Australian Accounting Standards and the applicable requirements of the Act, the Government Sector Finance Regulation 2018 and the Treasurer’s directions, and
present fairly Western Parkland City Authority’s financial position, financial performance and cash flows.

Jennifer Westacott AO

Chair

5 October 2021

Geoff Roberts AM

Deputy Chair

5 October 2021

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2021	NOTES	CONSOLIDATED			AUTHORITY
	NOTES	BUDGET June 2021 $’000	ACTUAL June 2021 $’000	ACTUAL June 2020 $’000	ACTUAL June 2021 $’000	ACTUAL June 2020 $’000
EXPENSES EXCLUDING LOSSES
EMPLOYEE-RELATED	2(a)	7,523	9,879	7,340	-	-
PERSONNEL SERVICES	2(b)	-	-	-	9,879	7,340
OPERATING EXPENSES	2(c)	14,682	10,376	10,869	10,376	10,869
DEPRECIATION AND AMORTISATION	2(d)	282	414	221	414	221
FINANCE COSTS	2(e)	9	8	7	8	7
GRANTS AND SUBSIDIES	2(f)	100	32,019	200	32,019	200
TOTAL EXPENSES EXCLUDING LOSSES		22,596	52,696	18,637	52,696	18,637
REVENUE
GRANTS AND OTHER CONTRIBUTIONS	3(a)	330,596	91,842	20,000	91,842	20,000
ACCEPTANCE BY THE CROWN IN RIGHT OF THE STATE OF NEW SOUTH WALES OF EMPLOYEE BENEFITS AND OTHER LIABILITIES	3(b)	-	1,059	1,552	-	-
OTHER REVENUE		-	131	106	1,190	1,658
TOTAL REVENUE		330,596	93,032	21,658	93,032	21,658
OPERATING RESULT		308,000	40,336	3,021	40,336	3,021
OTHER GAINS/(LOSSES)	4	-	(64)	(98)	(64)	(98)
GAINS/ (LOSSES) ON DISPOSAL OF PLANT AND EQUIPMENT	5	-	(5)	-	(5)	-
NET RESULT		308,000	40,267	2,923	40,267	2,923
OTHER COMPREHENSIVE INCOME		-	-	-	-	-
TOTAL OTHER COMPREHENSIVE INCOME		-	-	-	-	-
TOTAL COMPREHENSIVE INCOME		308,000	40,267	2,923	40,267	2,923

The accompanying notes form part of these financial statements.

STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2021	NOTES	CONSOLIDATED			AUTHORITY
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2021	NOTES	BUDGET June 2021 $’000	ACTUAL June 2021 $’000	ACTUAL June 2020 $’000	ACTUAL June 2021 $’000	ACTUAL June 2020 $’000
ASSETS
CURRENT ASSETS
CASH AND CASH EQUIVALENTS	6	2,687	32,979	2,405	32,670	2,304
RECEIVABLES	7	274	438	274	712	337
TOTAL CURRENT ASSETS		2,961	33,417	2,679	33,382	2,641
NON-CURRENT ASSETS
PROPERTY, PLANT AND EQUIPMENT
LAND AND BUILDINGS		307,750	12,982	3,651	12,982	3,651
PLANT AND EQUIPMENT		4,274	355	272	355	272
TOTAL PROPERTY, PLANT AND EQUIPMENT	8	312,024	13,337	3,923	13,337	3,923
RIGHT-OF-USE ASSETS	9	282	315	565	315	565
INTANGIBLES ASSETS		51	-	-	-	-
TOTAL NON-CURRENT ASSETS		312,357	13,652	4,488	13,652	4,488
TOTAL ASSETS		315,318	47,069	7,167	47,034	7,129
LIABILITIES
CURRENT LIABILITIES
PAYABLES	10	3,247	2,554	3,081	2,519	3,043
PROVISIONS	12	731	1,280	731	1,280	731
BORROWINGS	11	333	430	333	430	333
TOTAL CURRENT LIABILITIES		4,312	4,264	4,145	4,229	4,107
NON-CURRENT LIABILITIES
PROVISIONS	12	19	33	19	33	19
BORROWINGS	11	339	-	339	-	339
TOTAL NON-CURRENT LIABILITIES		358	33	358	33	358
TOTAL LIABILITIES		4,670	4,297	4,503	4,262	4,465
NET ASSETS		310,649	42,772	2,664	42,772	2,664
EQUITY
ACCUMULATED FUNDS		310,649	42,772	2,664	42,772	2,664
TOTAL EQUITY		310,649	42,772	2,664	42,772	2,664

The accompanying notes form part of these financial statements.

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2021	NOTES	CONSOLIDATED		AUTHORITY
		ACCUMULATED FUNDS $’000	TOTAL $’000	ACCUMULATED FUNDS $’000	TOTAL $’000
BALANCE AT 1 JULY 2020		2,664	2,664	2,664	2,664
NET RESULT FOR THE YEAR		40,267	40,267	40,267	40,267
OTHER COMPREHENSIVE INCOME		-	-	-	-
TOTAL OTHER COMPREHENSIVE INCOME		-	-	-	-
TOTAL COMPREHENSIVE INCOME FOR THE YEAR		40,267	40,267	40,267	40,267
TRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS
INCREASE/ (DECREASE) IN NET ASSETS FROM EQUITY TRANSFERS	13	(159)	(159)	(159)	(159)
BALANCE AT 30 JUNE 2021		42,772	42,772	42,772	42,772

BALANCE AT 1 JULY 2019		(259)	(259)	(259)	(259)
NET RESULT FOR THE YEAR		2,923	2,923	2,923	2,923
OTHER COMPREHENSIVE INCOME		-	-	-	-
TOTAL OTHER COMPREHENSIVE INCOME		-	-	-	-
TOTAL COMPREHENSIVE INCOME FOR THE YEAR		2,923	2,923	2,923	2,923
BALANCE AT 30 JUNE 2020		2,664	2,664	2,664	2,664

The accompanying notes form part of these financial statements.

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2021	NOTES	CONSOLIDATED			AUTHORITY
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2021	NOTES	BUDGET June 2021 $’000	ACTUAL June 2021 $’000	ACTUAL June 2020 $’000	ACTUAL June 2021 $’000	ACTUAL June 2020 $’000
CASH FLOWS FROM OPERATING ACTIVITIES
PAYMENTS
EMPLOYEE RELATED		(7,523)	(8,180)	(4,972)	-	-
PERSONNEL SERVICES		-	-	-	(8,180)	(4,972)
SUPPLIERS FOR GOODS AND SERVICES		-	(11,301)	(9,255)	(11,509)	(9,356)
GRANTS AND SUBSIDIES		(100)	(32,019)	(200)	(32,019)	(200)
FINANCE COSTS		(9)	(8)	(7)	(8)	(7)
OTHER PAYMENTS		(14,682)	-	-	-	-
TOTAL PAYMENTS		(22,314)	(51,508)	(14,434)	(51,716)	(14,535)
RECEIPTS
GRANTS AND OTHER CONTRIBUTIONS		37,596	91,842	20,000	91,842	20,000
OTHER RECEIPTS		-	131	106	131	106
TOTAL RECEIPTS		37,596	91,973	20,106	91,973	20,106
NET CASH FLOWS FROM OPERATING ACTIVITIES	17	15,282	40,465	5,672	40,257	5,571
CASH FLOWS FROM INVESTING ACTIVITIES
PURCHASES OF PROPERTY, PLANT AND EQUIPMENT		(15,000)	(9,504)	(3,930)	(9,504)	(3,930)
NET CASH FLOWS FROM INVESTING ACTIVITIES		(15,000)	(9,504)	(3,930)	(9,504)	(3,930)
CASH FLOWS FROM FINANCING ACTIVITIES
PAYMENT OF PRINCIPAL PORTION OF LEASE LIABILITIES		-	(387)	(196)	(387)	(196)
NET CASH FLOWS FROM FINANCING ACTIVITIES		-	(387)	(196)	(387)	(196)
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS		282	30,574	1,546	30,366	1,445
OPENING CASH AND CASH EQUIVALENTS		2,405	2,405	859	2,304	859
CLOSING CASH AND CASH EQUIVALENTS	6	2,687	32,979	2,405	32,670	2,304

The accompanying notes form part of these financial statements.