Statement of Financial Performance

For the year ended 30 June 2004

	NOTE	2004 $ 000	2003 $ 000
COST OF SERVICES
Expenses from ordinary activities
Employee expenses	4	79,927	77,579
Supplies and services	5	63,683	75,543
Depreciation expense	6	7,578	26,216
Borrowing costs expense	7	488	18,620
Administration expenses	8	9,407	9,289
Accommodation expenses	9	5,739	4,193
Grants and subsidies	10	40,609	332,076
Capital user charge	11	24,108	15,297
Costs of disposal of non-current assets	15	31	7,280
Other expenses from ordinary activities		3,492	4,308
Total cost of services		235,062	570,401
Revenues from ordinary activities
Revenues from operating activities
User charges and fees	12	51,284	117,173
Sale of goods and services		1,837	644
Grants and subsidies	13	8,580	13,411
Other revenues from operating activities	14	20,732	28,643
Revenues from non-operating activities
Proceeds from disposal of non-current assets	15	52	3,070
Other revenues from non-operating activities		470	817
Total revenues from ordinary activities		82,955	163,758
NET COST OF SERVICES		152,107	406,643
REVENUES FROM STATE GOVERNMENT	16
Output appropriation		130,773	403,194
Liabilities assumed by the Treasurer		933	103
Resources received free of charge		4,343	2,649
Total revenues from State Government		136,049	405,946
CHANGE IN NET ASSETS		(16,058)	(697)
Net increase/(decrease) in asset revaluation reserve		(2,362)	17,482
Total valuation adjustments recognised directly in equity		(2,362)	17,482
Total changes in equity other than those resulting from transactions with WA State Government as owners		(18,420)	16,785

The Statement of Financial Performance should be read in conjunction with the accompanying notes