Totalcare industries Limited
Objectives
Totalcare Industries Limited (Totalcare) previously provided integrated solutions and services in the areas of asset and infrastructure management and maintenance, fleet services to the Government and non-government sectors, and non-medical health services.  In 2003 the Government decided to transfer Totalcare’s business units to Government departments as follows: 
•	Facilities Management to the Department of Urban Services (DUS) on 1 March 2004; 
•	Road Maintenance to DUS on 1 March 2004;
•	Linen Services to DUS on 1 April 2004; and 
•	Sterilisation Services to ACT Health on 1 April 2004. 
The Government agreed in 2004 to create a new Territory owned corporation to conduct the Totalcare fleet business.  The fleet business was transferred to Rhodium Asset Solutions in January 2005. 
Although the company is no longer active as a business, Totalcare still exists as a corporation and will continue to do so for the medium term future.  Its residual liabilities are being assessed and acquitted.  The Company will be wound up when its liabilities have been dealt with properly.
2005-06 Highlights
Strategic and operational issues to be pursued in 2005‑06 include:
•	resolving outstanding superannuation and liability issues; and
•	continuing to progressively wind down the Company.

Totalcare	
Operating Statement	
  2004-05			  2004-05	   2005-06		  2006-07	  2007-08	  2008-09		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
7  090		User Charges - Non ACT Government	4  593	0	-100	0	0	0		
6  266		User Charges - ACT Government	3  550	0	-100	0	0	0		
100		Interest	116	0	-100	0	0	0		
0		Other Revenue	194	0	-100	0	0	0		
13  456		Total Revenue	8  453	0	-100	0	0	0		
		Gains								
0		Total Gains	0	0	-	0	0	0		
13  456		Total Income	8  453	0	-100	0	0	0		
		Expenses								
1  447		Employee Expenses	1  541	0	-100	0	0	0		
0		Superannuation Expenses	119	0	-100	0	0	0		
369		Supplies and Services	1  133	100	-91	0	0	0		
2  580		Depreciation and Amortisation	1  642	0	-100	0	0	0		
1  988		Borrowing Costs	1  406	0	-100	0	0	0		
5  560		Cost of Goods Sold	2  206	0	-100	0	0	0		
0		Other Expenses	939	0	-100	0	0	0		
11  944		Total Ordinary Expenses	8  986	100	-99	0	0	0		
1  512		Operating Result	-533	-100	81	0	0	0		

Totalcare	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/05			as at 30/6/05	as at 30/6/06	   Var	as at 30/6/07	as at 30/6/08	as at 30/6/09		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
7  000		Cash	100	0	-100	0	0	0		
2  720		Receivables	0	0	-	0	0	0		
6  495		Other	0	0	-	0	0	0		
16  215		Total Current Assets	100	0	-100	0	0	0		
		Non Current Assets								
0		Receivables	17  280	17  280	-	17  280	17  280	17  280		
12  834		Property, Plant and Equipment	0	0	-	0	0	0		
14  800		Other	0	0	-	0	0	0		
27  634		Total Non Current Assets	17  280	17  280	-	17  280	17  280	17  280		
43  849		TOTAL ASSETS	17  380	17  280	-1	17  280	17  280	17  280		
		Current Liabilities								
3  706		Payables	0	0	-	0	0	0		
11  000		Finance Leases	0	0	-	0	0	0		
252		Employee Benefits	0	0	-	0	0	0		
527		Other Provisions	0	0	-	0	0	0		
700		Other	0	0	-	0	0	0		
16  185		Total Current Liabilities	0	0	-	0	0	0		
		Non Current Liabilities								
20  000		Finance Leases	0	0	-	0	0	0		
100		Employee Benefits	17  280	17  280	-	17  280	17  280	17  280		
20  100		Total Non Current Liabilities	17  280	17  280	-	17  280	17  280	17  280		
36  285		TOTAL LIABILITIES	17  280	17  280	-	17  280	17  280	17  280		
7  564		NET ASSETS	100	0	-100	0	0	0		
		REPRESENTED BY FUNDS EMPLOYED								
-33  923		Accumulated Funds	100	0	-100	0	0	0		
41  487		Reserves	0	0	-	0	0	0		
7  564		TOTAL FUNDS EMPLOYED	100	0	-100	0	0	0		

Totalcare	
Cash Flow Statement	
  2004-05			  2004-05	   2005-06		  2006-07	  2007-08	  2008-09		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
13  356		User Charges	8  143	0	-100	0	0	0		
100		Interest Received	116	0	-100	0	0	0		
13  456		Operating Receipts	8  259	0	-100	0	0	0		
		Payments								
1  400		Related to Employees	1  660	0	-100	0	0	0		
369		Related to Supplies and Services	1  133	100	-91	0	0	0		
1  988		Borrowing Costs	1  406	0	-100	0	0	0		
5  560		Other	3  164	0	-100	0	0	0		
9  317		Operating Payments	7  363	100	-99	0	0	0		
4  139		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	896	-100	-111	0	0	0		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Receipts								
0		Proceeds from Sale of Property, Plant & Equipment	180	0	-100	0	0	0		
0		Investing Receipts	180	0	-100	0	0	0		
		Payments								
4  139		Purchase of Property, Plant and Equipment	0	0	-	0	0	0		
4  139		Investing Payments	0	0	-	0	0	0		
-4  139		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	180	0	-100	0	0	0		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Receipts								
29  920		Finance Lease	0	0	-	0	0	0		
29  920		Financing Receipts	0	0	-	0	0	0		
		Payments								
29  920		Repayment of Finance Lease	0	0	-	0	0	0		
0		Payments of Transferred Cash Balances	7  201	0	-100	0	0	0		
29  920		Financing Payments	7  201	0	-100	0	0	0		
0		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	-7  201	0	-100	0	0	0		
0		NET INCREASE/(DECREASE) IN CASH HELD	-6  125	-100	98	0	0	0		
7  000		CASH AT BEGINNING OF REPORTING PERIOD	6  225	100	-98	0	0	0		
7  000		CASH AT THE END OF THE REPORTING PERIOD	100	0	-100	0	0	0		

Totalcare	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/05			as at 30/6/05	as at 30/6/06	   Var	as at 30/6/07	as at 30/6/08	as at 30/6/09		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
6  052		Opening Balance	5  017	100	-98	0	0	0		
		Accumulated Funds								
1  512		Operating Result for the Period	-533	-100	81	0	0	0		
		Reserves								
0		Increase/(Decrease) in asset revaluation reserve	-1  715	0	-100	0	0	0		
0		Increase/(Decrease) in other reserves	-39  772	0	-100	0	0	0		
0		Transfer to/from Reserves	41  487	0	-100	0	0	0		
1  512		Total Income And Expense For The Period	-533	-100	81	0	0	0		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
0		Inc/Dec in Net Assets due to Admin Restructure	-4  384	0	-100	0	0	0		
7  564		Closing Balance	100	0	-100	0	0	0		
Notes to the Budget Statements
As noted in the ‘Objectives’ section above, the Government decided in mid‑2003 to transfer Totalcare's business units to Government departments, except for Totalcare's Fleet business which was transferred to Rhodium Asset Solutions in January 2005, causing significant variances between the 2004‑05 estimated outcome figures and the original budget.  From that time, the accounting for revenues, expenses, assets and liabilities of Rhodium Asset Solutions is reflected in its accounts.
Totalcare is no longer actively engaged as a commercial business but it will continue to exist for the medium term.  It will be wound up once all liabilities have been assessed and met.