St John Ambulance Australia SA Inc. Annual Report 2018-2019

St John Ambulance Australia SA Inc Annual Report 2018/19 61

FINANCIALS CONTINUED

SUMMARY OF FINANCIAL POSITION

STATEMENT OF CASH FLOWS

2018/19 ($’000)

2017/18 ($’000)

2016/17 ($’000)

2015/16 ($’000)

2014/15 ($’000)

2018/19 ($’000)

2017/18 ($’000)

2016/17 ($’000)

2015/16 ($’000)

2014/15 ($’000)

Description

Description

Assets

21,449

21,033

20,354

18,180

18,805

Cash flows from operating activities

(478)

257

949

(390)

(881)

Liabilities

2,687

2,666

2,434

1,989

2,021

Cash flows from investing activities

(3,194)

1,878

(3,779)

1,536

(349)

Equity

18,762

18,367

17,920

16,191

16,784

Cash flows from financing activities

0

0

0

0

0

Net increase/(decrease) in cash held

(3,672)

2,135

(2,830)

1,146

(1,230)

Cash at beginning of financial year

4,606

2,471

5301

4,155

5,385

Cash at end of financial year

934

4,606

2,471

5,301

4,155

WHAT WE OWN - ASSESTS The major components of our assets include: • Property, vehicles, plant and equipment • Cash assets, including short term investments • Receivables • Inventory

operating activities, lower term deposit interest rates and lower overall capital growth in our Managed Investment Fund. As at 30 June 2019, the market value of our investment portfolios excluding cash and term deposits greater than 90 days was $8,985k, which included a net increase in the capital valuation of these portfolios from 30 June 2018 of $49k. This capital value portion of the increase is reported as an increase in the fair value reserve of St John SA. The total combined return after fees over the prior 12-month period for both the short and long term portfolios was 4.4%. St John SA manages a portfolio consisting of 22 properties, which is consistent with the number from last year. The properties owned by St John SA are currently recorded in the accounts at historical cost less accumulated depreciation and do not reflect their market value.

liabilities comprise 78%.

The Cash Flow Statement provides information on the movement of cash in and out of our organisation during the year. The net cash outflow from operating activities during 2018/19 was $478k whilst the cash outflow from investing activities during the same period was $3,194k, of which $3,214k was reclassified from cash and cash equivalents to term deposits. As at 30 June 2019, our cash balances were $934k.

The increase in liabilities is primarily due to increases in lease liabilities associated with vehicle replacements during 2018/19 and employee provisions partially offset by a reduction in trade and other payables over the same time period.

WHAT WE ARE WORTH – EQUITY

• Long term investments.

Equity reflects our net assets. The balance of equity as at 30 June 2019 was $18,762k, an increase of $395k from 2017/18. This increase was due to the operating surplus for the year of $346k and an increase in the fair value reserve associated with our investments of $49k.

FINANCIALS OVERVIEW

Together, these assets account for $21,449k at 30 June 2019. This represents an increase of $416k or 2% as from last year. Non-current assets comprised 64% of this total. Asset values increased within receivables mainly due to increased debt from training fees and merchandising sales. There were also increases in property, plant and equipment from the addition of 8 leased vehicles during 2018/19, and in intangible assets from costs incurred on the IT Systems Replacement Project. There was also a net decrease in cash, term deposits and long term investments reflecting increased cash outflows from

St John SA has a strong net asset position and the three years of positive results since 2016/17 further strengthen the organisation’s financial position and provide an excellent platform for the continued investment in both our core business, and in business initiatives designed to generate material growth in net wealth year on year.

WHAT WE OWE - LIABILITIES

Our liabilities were $2,687k as at 30 June 2019, which is an increase of $21k compared to 2017/18. Of this, current

Karen Limb Treasurer