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FINANCIAL SUMMARY

Our overall financial position for 2010–11 was an operating surplus of $4.699 million (up from an operating surplus of $4.345 million in 2009–10), resulting from active management of expenses to restore strength to our balance sheet. As a result, the office continues to have sufficient assets to meet ongoing liabilities and commitments.

Our independent auditor found that our financial systems and controls were operating effectively and year-end financial statement preparation procedures were well organised and undertaken in an efficient and timely manner. Internal audit coverage during the year also found that our control environment is sound.

Our financial resources for 2010–11, on an outcome–program basis, are summarised in Table A1.2 and Table A1.3 in Appendix 1. The ANAO’s financial statements for 2010–11, and a commentary on our financial performance for the year, are also set out in Appendix 1.