TOTALCARE INDUSTRIES LIMITED
Objectives
Totalcare Industries Limited (Totalcare) previously provided a range of services to the Government and non-government sectors.  In 2003, the Government decided to transfer Totalcare’s business units to Government departments and businesses as follows:
•	Facilities Management to the former 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;
•	Sterilisation Services to ACT Health on 1 April 2004; and
•	Fleet Business to Rhodium Asset Solutions on 1 January 2005.
Although Totalcare is no longer active as a business, it still exists as a corporation and will continue to do so for the medium term while residual liabilities are being assessed and acquitted.  The company will be wound up when its liabilities have been properly acquitted.
2007-08 Priorities 
Strategic and operational issues to be pursued in 2007‑08 include: 
•	resolving outstanding superannuation and liability issues; and 
•	continuing to wind down the company.
Estimated Employment Level
	2006‑07
Est.  Outcome	2007‑08
Budget	
Staffing (FTE)	-	-	

Totalcare	
Operating Statement	
  2006-07			  2006-07	   2007-08		  2008-09	  2009-10	  2010-11		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
10		Interest	10	11	10	13	13	13		
527		Other Revenue	527	535	2	295	0	0		
537		Total Revenue	537	546	2	308	13	13		
		Gains								
0		Total Gains	0	0	-	0	0	0		
537		Total Income	537	546	2	308	13	13		
		Expenses								
495		Supplies and Services	495	495	-	495	0	0		
0		Other Expenses	0	6	#	0	0	0		
495		Total Ordinary Expenses	495	501	1	495	0	0		
42		Operating Result	42	45	7	-187	13	13		

Totalcare	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/07			as at 30/6/07	as at 30/6/08	   Var	as at 30/6/09	as at 30/6/10	as at 30/6/11		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
324		Cash and Cash Equivalents	277	318	15	361	374	387		
6		Receivables	23	17	-26	17	17	17		
230		Other	198	198	-	0	0	0		
560		Total Current Assets	498	533	7	378	391	404		
		Non Current Assets								
12,280		Other	15,780	10,780	-32	0	0	0		
12,280		Total Non Current Assets	15,780	10,780	-32	0	0	0		
12,840		TOTAL ASSETS	16,278	11,313	-31	378	391	404		
		Current Liabilities								
10		Payables	80	70	-13	70	70	70		
10		Total Current Liabilities	80	70	-13	70	70	70		
		Non Current Liabilities								
12,280		Employee Benefits	15,780	10,780	-32	0	0	0		
12,280		Total Non Current Liabilities	15,780	10,780	-32	0	0	0		
12,290		TOTAL LIABILITIES	15,860	10,850	-32	70	70	70		
550		NET ASSETS	418	463	11	308	321	334		
		REPRESENTED BY FUNDS EMPLOYED								
-1,164		Accumulated Funds	418	463	11	308	321	334		
1,714		Reserves	0	0	-	0	0	0		
550		TOTAL FUNDS EMPLOYED	418	463	11	308	321	334		

Totalcare	
Cash Flow Statement	
  2006-07			  2006-07	   2007-08		  2008-09	  2009-10	  2010-11		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
10		Interest Received	10	11	10	13	13	13		
5,525		Other Revenue	5,525	5,525	-	7,575	0	0		
5,535		Operating Receipts	5,535	5,536	..	7,588	13	13		
		Payments								
5,000		Related to Employees	5,000	5,000	-	7,280	0	0		
521		Related to Supplies and Services	521	495	-5	265	0	0		
5,521		Operating Payments	5,521	5,495	..	7,545	0	0		
14		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	14	41	193	43	13	13		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Receipts								
0		Proceeds from Sale/Maturities of Investments	39	0	-100	0	0	0		
0		Investing Receipts	39	0	-100	0	0	0		
0		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	39	0	-100	0	0	0		
14		NET INCREASE/(DECREASE) IN CASH HELD	53	41	-23	43	13	13		
310		CASH AT BEGINNING OF REPORTING PERIOD	224	277	24	318	361	374		
324		CASH AT THE END OF THE REPORTING PERIOD	277	318	15	361	374	387		

Totalcare	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/07			as at 30/6/07	as at 30/6/08	   Var	as at 30/6/09	as at 30/6/10	as at 30/6/11		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
508		Opening Balance	391	418	7	463	308	321		
		Accumulated Funds								
0		Net Effect of a Correction of an Error	-15	0	100	32	0	0		
42		Operating Result for the Period	42	45	7	-187	13	13		
		Reserves								
42		Total Income And Expense For The Period	27	45	67	-155	13	13		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
550		Closing Balance	418	463	11	308	321	334		
Notes to the Budget Statements
Totalcare will continue to exist while its residual liabilities are being assessed and dealt with properly.
Due to the ongoing work that surrounds the acquittal of Totalcare’s liabilities, the original Budget estimates are aligned with the settlement schedule of Totalcare’s superannuation liabilities.  These settlements largely depend upon the availability of external specialists and the results of analysis undertaken during the course of the year. 
Significant variations are as follows:
Balance Sheet
•	other non current assets and non current liabilities:  
–	the increase of $3.5 million in the 2006‑07 estimated outcome from the original budget is due to delays in finalising superannuation settlement payments; and
–	the decrease of $5 million in the 2007‑08 Budget from the 2006‑07 estimated outcome reflects the anticipated settlement pattern with respect to outstanding superannuation liabilities.
•	reserves:  the decrease of $1.714 million in the 2006‑07 estimated outcome from the original budget is due to the flow on impact of the 2005‑06 audited outcome.