108 108 AUSTRALIAN SPORTS COMMISSION ANNUAL REPORT 2016–17 FINANCIAL PERFORMANCE 2017 2017 2016 Budget Actual Actual $’000 Notes $’000 $’000 OPERATING ACTIVITIES Cash received 20,235 Sale of goods and rendering of services 26,152 24,865 - Contributions from Government entities 9,062 1,136 250,669 Receipts from Government 250,669 253,646 2,500 Interest 3,636 2,861 - Net GST received 16,103 16,788 273,404 Total cash received 305,622 299,296 Cash used (66,228) Employees (59,740) (60,423) (34,744) Suppliers (46,867) (47,596) (156,440) Grants (184,766) (181,417) (257,412) Total cash used (291,373) (289,436) 15,992 Net cash from operating activities 14,249 9,860 INVESTING ACTIVITIES Cash received - Proceeds from sales of property, plant and equipment 847 516 310 Repayments of loans and interest 329 89 310 Total cash received 1,176 605 Cash used (23,010) Purchase of property, plant and equipment (14,594) (10,371) - Loans issuance - (1,050) (23,010) Total cash used (14,594) (11,421) (22,700) Net cash used by investing activities (13,418) (10,816) (6,708) Net increase / (decrease) in cash held 831 (956) 71,409 Cash and cash equivalents at the beginning of the reporting period 75,842 76,798 64,701 Cash and cash equivalents at the end of the reporting period 6 76,673 75,842 The above statement should be read in conjunction with the accompanying notes. AUSTRALIAN SPORTS COMMISSION CASH FLOW STATEMENT For the year ended 30 June 2017 Explanations of major budget variances are provided at Note 11.