TOTALCARE INDUSTRIES LIMITED
Objectives
Totalcare Industries Limited (TCI) is no longer an active business entity.  It is expected that the process of assessing, discharging and acquitting residual liabilities will be completed by the end of 2009‑10.
As soon as these liabilities are acquitted the company will be wound‑up as per the Corporations Act 2001.
2008‑09 Priorities 
Strategic and operational issues to be pursued in 2008‑09 include: 
•	settling a large proportion of the outstanding superannuation liabilities; 
•	continuing to resolve the remaining outstanding superannuation liabilities; and
•	continuing to wind down the company.

Estimated Employment Level 
2007-08
Budget			2007-08
Est. Outcome	2008-09
Budget	
-		Staffing  (FTE)	-	-	

Totalcare	
Operating Statement	
  2007-08			  2007-08	   2008-09		  2009-10	  2010-11	  2011-12		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
11		Interest	11	13	18	13	0	0		
535		Other Revenue	535	525	-2	71	0	0		
546		Total Revenue	546	538	-1	84	0	0		
		Gains								
0		Total Gains	0	0	-	0	0	0		
546		Total Income	546	538	-1	84	0	0		
		Expenses								
495		Supplies and Services	495	495	-	465	0	0		
6		Other Expenses	6	0	-100	0	0	0		
501		Total Ordinary Expenses	501	495	-1	465	0	0		
45		Operating Result	45	43	-4	-381	0	0		

Totalcare	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/08			as at 30/6/08	as at 30/6/09	   Var	as at 30/6/10	as at 30/6/11	as at 30/6/12		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
318		Cash and Cash Equivalents	333	86	-74	0	0	0		
17		Receivables	87	87	-	0	0	0		
198		Other	47	337	617	0	0	0		
533		Total Current Assets	467	510	9	0	0	0		
		Non Current Assets								
0		Receivables	11,985	4,249	-65	0	0	0		
10,780		Other	0	0	-	0	0	0		
10,780		Total Non Current Assets	11,985	4,249	-65	0	0	0		
11,313		TOTAL ASSETS	12,452	4,759	-62	0	0	0		
		Current Liabilities								
70		Payables	129	129	-	0	0	0		
70		Total Current Liabilities	129	129	-	0	0	0		
		Non Current Liabilities								
10,780		Employee Benefits	11,985	4,249	-65	0	0	0		
10,780		Total Non Current Liabilities	11,985	4,249	-65	0	0	0		
10,850		TOTAL LIABILITIES	12,114	4,378	-64	0	0	0		
463		NET ASSETS	338	381	13	0	0	0		
		REPRESENTED BY FUNDS EMPLOYED								
463		Accumulated Funds	338	381	13	0	0	0		
463		TOTAL FUNDS EMPLOYED	338	381	13	0	0	0		

Totalcare	
Cash Flow Statement	
  2007-08			  2007-08	   2008-09		  2009-10	  2010-11	  2011-12		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
11		Interest Received	11	13	18	0	0	0		
5,525		Other Revenue	2,163	7,766	259	4,249	0	0		
5,536		Operating Receipts	2,174	7,779	258	4,249	0	0		
		Payments								
5,000		Related to Employees	1,637	7,736	373	4,249	0	0		
495		Related to Supplies and Services	495	290	-41	86	0	0		
5,495		Operating Payments	2,132	8,026	276	4,335	0	0		
41		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	42	-247	-688	-86	0	0		
41		NET INCREASE/(DECREASE) IN CASH HELD	42	-247	-688	-86	0	0		
277		CASH AT BEGINNING OF REPORTING PERIOD	291	333	14	86	0	0		
318		CASH AT THE END OF THE REPORTING PERIOD	333	86	-74	0	0	0		

Totalcare	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/08			as at 30/6/08	as at 30/6/09	   Var	as at 30/6/10	as at 30/6/11	as at 30/6/12		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
418		Opening Balance	293	338	15	381	0	0		
		Accumulated Funds								
45		Operating Result for the Period	45	43	-4	-381	0	0		
		Reserves								
45		Total Income And Expense For The Period	45	43	-4	-381	0	0		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
463		Closing Balance	338	381	13	0	0	0		
Notes to the Budget Statements
Totalcare’s Budget estimates are aligned with the settlement schedule of its superannuation liabilities.  These settlements largely depend upon the availability of external specialists and the results of analysis undertaken during the course of the year. 
Following extensive work on the settlement process, Totalcare has recast the outstanding superannuation liability at $12 million.
Significant variations are as follows:
Balance Sheet
•	other non current assets and non current liabilities:  
–	the increase of $1.205 million in the 2007‑08 estimated outcome from the original budget is due to a reassessment of the outstanding superannuation liability; and
–	the decrease of $7.736 million in the 2008‑09 Budget from the 2007‑08 estimated outcome reflects the re-statement of the liability, as well as the anticipated settlement pattern of outstanding superannuation liabilities.
Statement of Changes in Equity
Variances in the statement are explained in the notes above.