03 Financial Statements NOTE 3: EXPENSES

CEFC ANNUAL REPORT / 2014–15

Note 3: Expenses

 

2015
$'000

2014
$'000

Note 3A: Employee Benefits

Wages and salaries

13,445

12,004

Superannuation

   

Defined contribution plans

796

627

Leave and other entitlements

279

311

Separation and redundancies

24

-

Total employee benefits

14,544

12,942

Note 3B: Suppliers

Goods and services supplied or rendered

   

Consultants

553

866

Contractors

888

861

Insurance

149

126

Information technology services

82

108

Legal fees

245

265

Marketing and communications

333

179

Travel and incidentals

514

474

Website

163

280

Other

922

752

Total goods and services supplied or rendered

3,849

3,911

Goods supplied in connection with

   

External parties

34

24

Total goods supplied

34

24

Services rendered in connection with

   

External parties

3,815

3,887

Total services rendered

3,815

3,887

Total goods and services supplied or rendered

3,849

3,911

Other suppliers

   

Operating lease rentals in connection with:

   

Minimum lease payments for office premises – external parties

762

716

Workers compensation expenses

77

50

Total other suppliers

839

766

Total suppliers

4,688

4,677

 

 

2015

$’000

2014

$’000

Note 3C: Depreciation and Amortisation

 

Depreciation

   

Property, plant and equipment

377

329

Total depreciation

377

329

Amortisation

   

Intangibles

78

58

Total amortisation

78

58

Total depreciation and amortisation

455

387

Note 3D: Finance Costs

 

Loans

-

24

Make good provision

6

6

Total finance costs

6

30

Note 3E: Concessional Loan Charges

 

Concessional loan charge

1,392

5,582

Total concessional loan charges

1,392

5,582

 

The Corporation is required to record a non-cash concessional loan charge when it makes a loan at a discount to the prevailing market equivalent rates or terms. This non-cash charge is recorded at loan origination and will un-wind over the term of the underlying loan and be shown as concessional loan income. Over the full life of the loan, the impact on the reported profit or loss of the Corporation from the charge and income will net to $Nil.

 

2015

$’000

2014

$’000

Note 3F: Write-Down and Impairment of Assets

 

Loan impairment charge

2,232

227

AFS financial assets impairment charge

39

414

Total write-down and impairment of assets

2,271

641

Note 3G: Provision for Irrevocable Loan Commitments

 

Provision for irrevocable loan commitments

266

232

Total provision for irrevocable loan commitments

266

232