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Chapter 11 Financial Overview and Statements


This chapter provides a summary of the ARC's 2014–15 financial performance. The Parliament of Australia provides the ARC with two types of funding, administered and departmental, where:

  • administered funding is managed by agencies on behalf of government, including for example, grants, subsidies and benefits
  • departmental items are assets, liabilities, revenues and expenses that are controlled by the agency in providing its outputs, including for example, employee expenses, supplier expenses, and other operational expenses.

Summary of Performance

The ARC's total annual appropriated resources for 2014–15 were $904.7 million. This comprised:

  • $881.0 million for the administered appropriation ($875.6 million special appropriation for the National Competitive Grants Programme and $5.4 million for the annual administered appropriation)
  • $23.7 million for the departmental appropriation ($19.8 million for operating expenses, $1.3 million for the Departmental Capital Budget and $2.6 million for an equity injection).

In 2014–15 the ARC disclosed an operating deficit of $1.655 million due to the removal of depreciation funding as part of the net cash appropriations arrangement.

A resource summary of the ARC's administered and departmental expenses is provided in Part 5, Appendix 11. The 2014–15 departmental operating expenses are $1.800 million less than the budget estimate. This is due to the implementation of a range of strategies to manage departmental expenditure.

Further information on the financial performance of the ARC is in the financial statements and accompanying notes. The Australian National Audit Office found that the ARC's financial statements, including lead schedules and reconciliations, were appropriate for the needs of the audit.

Financial Statements

This section provides the financial statements for the ARC for the financial period ended 30 June 2015.


Page (in PDF)

Audit Report


Statement by the Chief Executive and Chief Financial Officer


Statement of Comprehensive Income


Statement of Financial Position


Statement of Changes in Equity


Cash Flow Statement


Schedule of Commitments


Administered Schedule of Comprehensive Income


Administered Schedule of Assets and Liabilities


Administered Reconciliation Schedule


Administered Cash Flow Statement


Schedule of Administered Commitments


Notes of the Financial Statements