2013/14 financial details
The IFS finances are administered by the Director General of DAFWA through an agency special purpose account called the Cattle Industry Declared Pest Control and Compensation Account (the IFS Account), which was established by regulation under the Financial Management Act 2006. The department manages these funds on behalf of the IMC and prepares financial reports including the end of financial year statements.
The balance of the IFS Account was $5 691 540 at the end of the 2013/14 financial year. This included $5 341 422 of ex-CICF funds and $350 118 of IFS funds.
Issues with DAFWAs financial management system throughout 2013/14 meant reimbursements to DAFWA for the work carried out on the IFS-funded programs could not occur at the end of each quarter. As such, reimbursement for some of the 2013/14 program expenses will be paid from the IFS Account during the 2014/15 financial year.
The total cost of the 2013/14 surveillance program for bovine Johne’s disease, enzootic bovine leucosis and bovine tuberculosis was $92 740, and $198 663 was spent on BJD surveillance in the Kimberley.
$113 545 was used to fund the NLIS Helpdesk during the year, and $162 000 was used to fund five research and development projects.
Industry contributions to the IFS totalling $175 656 were received by DAFWA in 2013/14; however, $101 of this was reimbursed to one producer that had opted out of the Scheme.
Interest applied to the funds during 2013/14 amounted to $9244 (IFS) and $147 850 (ex-CICF), and $34 000 was transferred to the Account from the Cattle Industry Biosecurity and Food Safety Association to co-fund the WA-based NLIS Helpdesk.
The activities of the IMC, such as travel and committee meeting costs, resulted in expenditure of $22 989.
Table 6 Cattle IFS finances for the 2013/14 financial year
| Expenses | IFS | Ex-CICF | TOTAL |
|---|---|---|---|
| Programs | - | - | - |
| EBL/BJD/BTB surveillance | $92 740 | - | $92 740 |
| Kimberley BJD surveillance | $99 331 | $99 332 | $198 663 |
| NLIS Helpdesk | - | $113 545 | $113 545 |
| Parkinsonia R&D | - | $50 000 | $50 000 |
| Kikuyu R&D | - | - | - |
| Exploring market options R&D | - | $37 000 | $37 000 |
| TaqMan R&D | - | $30 000 | $30 000 |
| Market intelligence R&D | - | $45 000 | $45 000 |
| Other expenses | - | - | - |
| Board member fees | $7923 | - | $7923 |
| Travel expenses | $9472 | - | $9472 |
| Meeting expenses | $1632 | - | $1632 |
| Consultants | $1200 | - | $1200 |
| Other (printing, advertising etc.) | $2762 | - | $2762 |
| Opt out refunds | $101 | - | $101 |
| Total expenses | $215 161 | $374 877 | $590 038 |
| Income | - | - | - |
| Contributions | $175 656 | - | $175 656 |
| Cattle Industry Biosecurity and Food Safety Association | - | $34 000 | $34 000 |
| Interest revenue | $9244 | $147 850 | $157 094 |
| Total income | $184 900 | $181 850 | $366 750 |
| Net cost of service | -$30 261 | -$193 027 | -$223 288 |
| Balance sheet | - | - | - |
| Funds held at 30 June 2014 | $50 118 | $5 341 422 | $5 691 540 |