Basic Benchmarking Data Definitions

Transcription

1 Basic Benchmarking Data Definitions INCOME STATEMENT Actual Values Description Revenue Operating Revenue Commonwealth Subsidies State Grants Resident/Client Charges Bond Retentions (if applicable) Interest Trust Distributions Donations & Contributions Other Operating Revenue Total Operating Revenue Includes: Gross Care Subsidies, Income Tested Reductions, Accommodation Payments, Extra Service Reduction and other commonwealth supplements/subsidies/grants. Any supplements, subsidies and/or grants (excluding funds received for capital works) received by the service from the state government. Includes: Basic Daily Fee, Income Tested Fee, Extra Services, Accommodation Charge and any other resident or client fees and charges. Includes: any accommodation bond funds retained by the service including Periodic Bond Payments. Interest earned on the investment of funds in bank deposits or other interest bearing instruments and any amount charged and received on an overdue accommodation bond. Any income received from a trust fund, distributions from parent or subsiduary companies or other trust fund distributions. This includes bequests/memorial gifts, contributions from members and the public, donations from public collections and all non-monetary donations. This includes any income not included in the above categories that is integral to the delivery of residential age care, such as income from the sale of meals. Total operating revenue should equal the sum of the above components.

2 Non-Operating Revenue Capital Grants Profit (Loss) on Sale of Assets Revaluation Increase(Decrease) Insurance Claims Other Non-Operating Income Total Non-Operating Revenue Capital grants from commonwealth, state or local government to acquire/purchase/construct properties, upgrade/enhance existing property or acquire/purchase other items reported as assets. Difference between the sale proceeds and written down value of the asset at the date of disposal. The net result of any revaluation increase and decrease recorded in the profit and loss for the year. Any funds received from insurance companies during the year, resulting from an insurance claim. Income from non-operating sources, not included in the categories above, including: dividends, membership fees, rental income, cost recoveries, interest from directors/related parties and other sundry income. Total non-operating revenue should equal the sum of the above components. Total Revenue Total revenue should equal the sum of operating and non-operating revenue. Expenses Wages & Superannuation - Care Wages & Superannuation - Admin Wages & Superannuation - Other Management Fees Salaries and wages paid to the care staff (nursing related) of the service. Includes superannuation but excludes staff overheads (long service leave, salary sacrifice, sick leave, termination payments etc). Salaries and wages paid to the administration staff (excludes management fees) of the service. Includes superannuation but excludes staff overheads (long service leave, salary sacrifice, sick leave, termination payments etc). Salaries and wages paid to the non-care staff (excluding administration): cleaners, cooks, maintenance, gardeners etc. Includes superannuation but excludes staff overheads (long service leave, salary sacrifice, sick leave, termination payments etc). Represents the cost of fees paid to staff managing the service. Includes director fees.

3 Depreciation & Amortisation Interest One-Off Expenses Staff On-Costs/Overheads (excluding super.) Building Repairs/Maintenance Insurance Motor Vehicles Rent Utilities Other Expenses Total Expenses NET PROFIT (BEFORE TAX) Amortisation and depreciation expenses on intangible assets (bed licences etc) and physical assets such as buildings, furniture & fittings, motor vehicles, plant & equipment and rental properties. Interest paid or interest penalties that are charged on outstanding loans from banks and banking institutions, related parties, subsidiary/parent companies and/or third parties. Includes interest charges on late repayment of accommodation bonds. Excludes bank fees & charges. Large one-off expenses such as writing off damaged assets, bad debts, etc. Excludes loss on sale of asset and revaluation decrements. All costs related to staff employment (excluding wages and superannuation). Includes: annual leave, long service leave, salary sacrifice, sick leave, termination payments, payroll tax, workers compensation, fringe benefits tax, staff training etc. All expenses related to the repair and maintenance of the service (excludes rental properties and motor vehicles). Includes repairs & maintenance of building, furniture and fittings, gardening, replacements etc. Professional indemnity, insurance to cover volunteers, general (accident, building & contents), public liability etc. Excludes insurance of motor vehicles. All expenses related to motor vehicles including: petrol, repairs & maintenance, insurance. All expenses related to renting premises, buildings and PP&E during the year. Excludes hire/purchase and finance leases. Includes the cost of utilities paid (electricity, gas and excess water rates) and outgoings allocated to utilities. All expenses not included in above categories, such as: cleaning and laundry materials, food, fees & charges, administration, IT costs, donations expenses, rates & taxes etc. Total expense should equal the sum of the above components. Net Profit should equal total revenue less total expense. BALANCE SHEET Actual Values Description

4 Assets Current Assets Cash Liquid Assets (non cash) Trade Receivables Inventory Other Current Assets Total Current Assets Cash or cash equivalents, including: cash at bank, cash on hand, term deposits, bank deposits, petty cash, undeposited funds etc. Assets which can be quickly turned to cash, including: securities, shares, financial assets and assets held for sale. Excludes term deposits Trade receivables and/or trade debtors (net of doubtful debts) still owing by debtors to the organisation at the end of the financial year, which are expected to be collected within the next 12 months. Exclude other receivables. Items held for resale expected to be consumed in the next financial year. Includes: fundraising stock, trading stock, publications for sale and client support inventory. Those assets not included in the above accounts and expected to be realised within the next 12 months. Total current assets should equal the sum of the above categories. Non-Current Assets Loans Property, Plant & Equipment Investments Intangibles Other Non-Current Assets Any amount owing to the organisation which is not expected to be repaid within the next twelve months (usually loans to directors, staff or related parties). Includes land, buildings, plant & equipment, furniture & fittings and motor vehicles or other forms of property, plant & equipment. Long term investments (such as securities or shares) not expected to be realised within the next 12 months. Includes investment properties, long-term bonds etc. Any form of intangible asset, such as: goodwill, intellectual property, patents, trademarks and bed licences. Those assets not included in the above accounts and not expected to be realised within the next 12 months.

5 Total Non-Current Assets Total Assets Total non-current assets should equal the sum of the above categories. Total assets should equal the sum of current and non-current assets. Liabilities Current Liabilities Short Term Borrowings Trade Payables Employee Provisions Accommodation Bonds (if applic) Other Current Liabilities Total Current Liabilities Any amount of money owed by the company to banks or financial institutions (bank loans, credit card debt), related parties or other sources which are expected to fall due within the next 12 months. Include short-term hire/purchase liabilities. Trade payables or trade creditors: the amount owing to suppliers at the end of the reporting period. Bank creditors are included in short term borrowings. Other creditors and accruals are other current liabilities. Employee benefits which are expected to be realised within the next 12 months. Includes: provision for annual leave, long service leave, personal/carer's leave etc. Exclude employee provisions which are recognised in payables. The accommodation bond amount that is expected to be refunded to residents within the next 12 months. Other liabilities expected to be realised within 12 months (excluding accommodation bonds), may include items such as general provisions, accruals etc. Total current liabilities should equal the sum of the above categories. Non-Current Liabilities Long Term Borrowings Any amount of money owed by the company to banks/financial institutions (bank loans, credit cards), related parties or other sources which are due to be payable after the next 12 months. Include short-term hire/purchase liabilities.

6 Employee Provisions Accommodation Bonds (if applic) Other Non-Current Liabilities Total Non-Current Liabilities Total Liabilities NET ASSETS Employee benefits which are expected to be realised after the next 12 months. Includes: Provision for annual leave, longs ervice leave, personal/carer's leave etc. The accommodation bond amount that is expected to be refunded to residents after the next 12 months. Other liabilities not expected to be realised within 12 months (excluding accommodation bonds), may include items such as general provisions, accruals etc. Total non-current liabilities should equal the sum of the above categories. Total liabilities should equal the sum of current and non-current liabilities. Net Assets should equal the sum of total assets less total liabilities.