N A A

Financial performance

National Archives of Australia and National Archives of Australia Advisory Council Annual Report 2015-16

The Archives recorded a deficit of $4.9 million for 2015–16, compared with a surplus of $2.6 million in 2014–15. This deficit is the result of lower income, largely due to a decrease in other revenue, and higher expenses, mainly due to an increase of supplier and depreciation expenses. Excluding depreciation and amortisation, which is no longer funded by the government, the Archives made a surplus of $7.7 million for 2015–16.

Statement of comprehensive income

Income

In 2015–16 the Archives received total income of $70.0 million compared with $74.6 million in 2014–15. The decrease in income of $4.6 million was mainly due to a decrease in other revenue recognised from the intake of records from Australian Government entities and a decrease in sale of goods and rendering of services.

Expenses

The Archives expenses totalled $74.9 million in 2015–16, compared with $72.0 million in 2014–15. The increase of $2.9 million was primarily due to an increase in supplier expenses as a result of a significant rise in rent for the Sydney Office in Chester Hill, and an increase in depreciation expenses due to the capitalisation of the Chester Hill Repository upgrade project.

Balance sheet

Assets

At 30 June 2016 the Archives’ assets totalled $1.520 billion compared with $1.518 billion at 30 June 2015. The increase of $2 million was mainly due to the fair value increment as a result of property, plant and equipment revaluation undertaken in 2015–16.

Liabilities

The Archives had total liabilities of $24.3 million at 30 June 2016, compared with $18.2 million at 30 June 2015. This increase of $6.1 million was primarily due to the increment of make good provision as a result of the revaluation of the make good assets in 2015–16.

Equity

The total equity of the Archives at 30 June 2016 was $1.496 billion, compared with $1.499 billion at 30 June 2015. The decrease of $3 million comprises a decrease of $4.1 million in reserves as a result of the revaluation of the Archives’ infrastructure, plant and equipment assets, a decrease of $4.9 million reflecting the deficit recorded in 2015–16, offset by an increase in contributed equity (Departmental Capital Budget) of $5.1 million.