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| 2002/03 | 2003/04 | ||
| Budgeted | Estimated actual |
Budget | |
| Operating results | |||
| Revenue: interest | - | - | - |
| Output expenses | $13,358,000 | $13,078,000 | $12,228,000 |
| Operating surplus before capital charge | $94,000 | $374,000 | $89,000 |
| Net surplus (deficit) | $18,000 | $298,000 | $18,000 |
| Working capital | |||
| Net current assets1 | $199,000 | $169,000 | $169,000 |
| Current ratio2 | 109% | 107% | 108% |
| Liquid ratio | 95% | 94% | 98% |
| Average creditors outstanding | 50 days | 50 days | 50 days |
| Resource utilisation | |||
| Physical assets: | |||
| Total physical assets at year end | $1,052,000 | $1,082,000 | $1,082,000 |
| Additions as % of physical assets | 43% | 42% | 37% |
| Taxpayers’ funds: | |||
| Level at year-end | $840,000 | $840,000 | $840,000 |
| Forecast net cash flows | |||
| Surplus/(deficit) operating activities | $1,114,000 | $1,364,000 | $695,000 |
| Surplus/(deficit) investing activities | ($454,000) | ($454,000) | ($400,000) |
| Surplus/(deficit) financing activities | ($270,000) | ($270,000) | ($298,000) |
| Net increase/(decrease) in cash held | $390,000 | $640,000 | ($3,000) |
| Human resources | |||
| Staff turnover | 15% | 32%3 | 20% |
| Average length of service | 5 years | 6.5 years | 6.5 years |
| Total staff | 123 | 121 | 121 |
The department aims to provide a work environment and conditions of employment that enable it to recruit and retain staff of the calibre and the skills and experience it requires.