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327Part 5 | Financial statements 2004–05
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Part FiveFinancial statements 2004–05
Report by the Auditor General 329
Statement by the Secretary and Chief Financial Officer 331
Statement of Financial Performance 332
Statement of Financial Position 333
Statement of Cash Flows 334
Schedule of Commitments 335
Schedule of Contingencies 336
Schedule of Administered Items 337
Notes to and forming part of the financial statements 342
Summary of Significant Accounting Policies 343
Adoption of AASB Equivalents to International Financial Reporting Standards from 2005–2006 352
Events Occurring after Balance Date 356
Operating Revenues 357
Operating Expenses 361
Borrowing Costs Expense 363
Financial Assets 364
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Non-Financial Assets 365
Interest Bearing Liabilities 372
Provisions 372
Payables 373
Equity 374
Cash Flow Reconciliation 376
Contingent Liabilities and Assets 377
Executive Remuneration 378
Remuneration of Auditors 379
Average Staffing Levels 379
Financial Instruments 380
Revenues Administered on Behalf of Government 384
Expenses Administered on Behalf of Government 384
Assets Administered on Behalf of Government 386
Liabilities Administered on Behalf of Government 387
Administered Reconciliation Table 388
Administered Contingent Liabilities 389
Administered Investments 390
Administered Financial Instruments 391
Appropriations 395
Assets Held in Trust 406
Reporting of Outcomes 407
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330 FaCS Annual Report 2004–05
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332 FaCS Annual Report 2004–05
DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
STATEMENT OF FINANCIAL PERFORMANCE
for the year ended 30 June 2005
2005 2004Notes $'000 $'000
Revenues from ordinary activities Revenues from Government 4A 2,327,579 2,479,569 Goods and services 4B 2,698 1,536 Interest 4C 2 14 Revenue from sale of assets 5E 2 39 Foreign exchange gains 4D 1 4 Other 4E 3,821 2,155 Fundamental Error 4F 48,410 -
Revenues from ordinary activities 2,382,513 2,483,317
Expenses from ordinary activities (excluding borrowing costs expense) Employees 5A 234,604 299,258 Suppliers 5B 158,581 198,586 Depreciation and amortisation 5C 11,560 16,172 Write-down and impairment of assets 5D 536 672 Value of assets sold 5E 60 135 Resources Provided Free of Charge 5F 451,705 - Foreign exchange loss 5G 1 34 Payments for Service Delivery 5H 1,457,481 1,967,322 Other 5I 491 756
Expenses from ordinary activities (excluding borrowing costs expense) 2,315,019 2,482,935
Borrowing costs expense 6A 228 317
Operating Surplus or (Deficit) from Ordinary Activities after income
tax 67,266 65
Net credit/(debit) to asset revaluation reserve 453 7,535
Total Revenues, Expenses and Valuation Adjustments Attributable to
Members of the Parent Entity and Recognised Directly in Equity 453 7,535
Total Changes in Equity other than those resulting from transactions
with the Owners as Owners 67,719 7,600
The above statement should be read in conjunction with the accompanying notes.
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DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
STATEMENT OF FINANCIAL POSITION
as at 30 June 2005
2005 2004Notes $'000 $'000
ASSETS Financial Assets
Cash 7A 5,449 2,554 Receivables 7B 151,506 74,057
Total Financial Assets 156,955 76,611 Non-Financial Assets
Land and buildings 8A,C 10,122 21,228 Infrastructure, plant and equipment 8B,C 4,565 5,992 Intangibles 8D 14,795 31,762 Other non-financial assets 8E 22,512 9,883
Total Non-Financial Assets 51,994 68,865
Total Assets 208,949 145,476
LIABILITIES Interest Bearing Liabilities
Leases 9A 1,467 2,385 Other interest bearing liabilities 9B - 2,079
Total Interest Bearing Liabilities 1,467 4,464 Provisions
Employees 10A 42,294 82,922 Other provisions 10B 3,644 3,058
Total Provisions 45,938 85,980 Payables
Suppliers 11A 28,462 35,218 Other payables 11B 48,316 610
Total Payables 76,778 35,828
Total Liabilities 124,183 126,272
NET ASSETS 84,766 19,204
EQUITY Contributed Equity 12A 3,225 10,773 Reserves 12A 8,873 10,864 Retained Surpluses / (Accumulated Deficits) 12A 72,668 (2,433)
TOTAL EQUITY 12A 84,766 19,204
Current Assets 179,467 84,142 Non-current Assets 29,482 61,334 Current Liabilities 90,430 66,772 Non-current Liabilities 33,753 59,500
The above statement should be read in conjunction with the accompanying notes.
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DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
STATEMENT OF CASH FLOWS
for the year ended 30 June 2005
2005 2004Notes $'000 $'000
Goods and services - Non-Government Cash Received
Goods and services 2,425 5,724 Appropriations 2,352,669 2,472,297 Interest 2 13 GST received from ATO 10,820 21,914 Other 224 194
Total Cash Received 2,366,140 2,500,142
Cash Used Employees 238,914 298,233 Suppliers 148,195 219,663 Borrowing costs 228 351 Payments for Service Delivery 1,958,060 1,969,259
Total Cash Used 2,345,397 2,487,506
Net Cash From / (Used By) Operating Activities 13 20,743 12,636
INVESTING ACTIVITIES Cash Received
Proceeds from sales of property, plant and equipment 2 39
Total Cash Received 2 39
Cash Used Purchase of property, plant and equipment 15,420 5,936 Purchase of intangibles 3,080 8,054
Total Cash Used 18,500 13,990
Net Cash From / (Used By) Investing Activities (18,498) (13,951)
FINANCING ACTIVITIES Cash Received
Appropriations - contributed equity 650 925
Total Cash Received 650 925
Cash Used
Total Cash Used - -
Net Cash From / (Used By) Financing Activities 650 925
Net Increase or (Decrease) in Cash Held 2,895 (390) Cash at the beginning of the reporting period 2,554 2,944
Cash at the End of the Reporting Period 7A 5,449 2,554
The above statement should be read in conjunction with the accompanying notes.
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DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
SCHEDULE OF COMMITMENTS
as at 30 June 2005
2005 2004 $'000 $'000
BY TYPE
Capital Commitments
Infrastructure, plant and equipment 20,368 - Investments - -
Total Capital Commitments 20,368 -
Other Commitments
Operating leases1 90,135 261,831
Project commitments 13,702 - Research and development 61,552 593 Other commitments2
1,430 68,593 Total Other Commitments 166,819 331,017
Commitments Receivable (16,977) (30,042) Net Commitments by Type 170,210 300,975
BY MATURITY
Operating Lease Commitments
One year or less 15,758 40,077 From one to five years 33,126 117,869 Over five years 33,075 80,082
Total Operating Lease Commitments 81,959 238,028
Other Commitments
One year or less 33,965 28,621 From one to five years 51,571 30,041 Over five years 2,715 4,285
Total Other Commitments 88,251 62,947 Net Commitments by Maturity 170,210 300,975
NB: Commitments are GST inclusive where relevant.
1 Operating leases included are effectively non-cancelable and comprise:
Nature of lease General description of leasing arrangementLeases for office accommodation The Department of Family and Community Services has 17
accommodation leases and 2 separate leases for offsite storage facilities. The Department's lease payments are subject to review in 8 cases, with one being fixed at Central Park in Western Australia. The remainder have predetermined fixed escalators or are linked to CPI movements.
Agreements for the provision of motor vehicles to senior executive officers
No contingent rentals exist.
Leases for office equipment There are a small number of office equipment leases (excluding IT) that range from 3 to 5 years.
2 Other commitments comprise other operational agreements and undertakings with suppliers to provide goods and services.
336 FaCS Annual Report 2004–05
DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
SCHEDULE OF CONTINGENCIES
as at 30 June 2005
Contingent Liabilities Indemnities Claims for damages/costs Total
2005 2004 2005 2004 2005 2004
Balance from previous period 100 100 298 200 398 300
New - - - 148 - 148
Re-measurement - - 11 (50) 11 (50)
Liabilities crystallised - - 161 - 161 -
Obligations expired 100 - - - 100 -
Total Contingent Liabilities - 100 148 298 148 398
Contingent Assets Indemnities Claims for damages/costs Total
2005 2004 2005 2004 2005 2004
Balance from previous period - - 232 218 232 218
New - - - - - -
Re-measurement - - (232) 14 (232) 14
Assets crystallised - - - - - -
Expired - - - - - -
Total Contingent Assets - - - 232 - 232
Net Contingencies - 100 148 66 148 166
Details of each class of contingent liabilities and assets, including those not included above because they cannot be quantified or considered remote, are disclosed in Note 14: Contingent Liabilities and Assets.
The above schedule should be read in conjunction with the accompanying notes.
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DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
SCHEDULE OF ADMINISTERED ITEMS
2005 2004Notes $'000 $'000
Revenues Administered on Behalf of Government
for the year ended 30 June 2005
Non-taxation Revenue
Interest 19 323 372 Child Support Revenue 19 389,442 807,370 NZ Reciprocal Agreement 19 78,013 88,887 Other sources of non-taxation revenue 19 31,560 101,572
Total Revenues Administered on Behalf of Government 499,338 998,201
Expenses Administered on Behalf of Government
for the year ended 30 June 2005
Grants 20 2,751,820 2,544,872 Subsidies 20 13,323 13,081 Personal benefits - indirect 20 14,571 36,574 Personal benefits - direct 20 45,485,904 61,480,603 Suppliers 20 49,886 53,017 Write-down and impairment of assets 20 (99,929) 129,607 Interest 20 11,219 42,857 Other 20 674,826 891,891
Total Expenses Administered on Behalf of Government 48,901,620 65,192,502
This schedule should be read in conjunction with the accompanying notes.
338 FaCS Annual Report 2004–05
DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
SCHEDULE OF ADMINISTERED ITEMS (continued)
2005 2004Notes $'000 $'000
Assets Administered on Behalf of Government
as at 30 June 2005
Financial Assets
Cash 21 2,611 2,016 Receivables 21 1,160,495 2,465,834 Investments 21 41,385 905
Total Financial Assets 1,204,491 2,468,755
Non-financial Assets
Prepaid grants 21 181,180 87 Total Non-financial Assets 181,180 87 Total Assets Administered on Behalf of Government 1,385,671 2,468,842
Liabilities Administered on Behalf of Government
as at 30 June 2005
Interest Bearing Liabilities
Loans 22 - 574,521 Total Interest Bearing Liabilities - 574,521
Provisions
Personal Benefit provisions 22 2,745,140 2,598,819 Total Provisions 2,745,140 2,598,819
Payables
Personal Benefits Payable 22 413,179 1,482,685 Grants and subsidies 22 19,596 17,110 Child Support Liability 22 - 113,665 Other payables 22 3,731 16,945
Total Payables 436,506 1,630,405 Total Liabilities Administered on Behalf of Government 3,181,646 4,803,745
Net Assets Administered on Behalf of Government 23 (1,795,975) (2,334,903)
Current Assets 206,281 528,277 Non-current Assets 1,179,390 1,940,565 Current Liabilities 2,616,247 4,139,651 Non-current Liabilities 565,399 664,094
This schedule should be read in conjunction with the accompanying notes.
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DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
SCHEDULE OF ADMINISTERED ITEMS (continued)
2005 2004 $'000 $'000
Administered Cash Flows
for the year ended 30 June 2005
Operating Activities
Cash Received
Interest 24 330 Reciprocal agreement with New Zealand 80,731 92,812 GST received from ATO 102,392 72,019 Child Support Payments 385,123 698,988 Other Cash Received 549,231 193,709 Appropriations from related entities 142,788 26,054
Total Cash Received 1,260,289 1,083,912
Other
Subsidies 13,331 12,873 Appropriations paid to related entities 179,926 59,261,741 Personal benefits 40,194 32,659 Grants 2,980,590 2,553,430 Child Support Payments 415,572 746,770 Other Cash Used 283,802 309,879
Total Cash Used 3,913,415 62,917,352
Net Cash From / (Used In) Operating Activities (2,653,126) (61,833,440)
Investing Activities
Cash Received
Other Cash Received - 303 Total Cash Received - 303
Total Cash Used - -
Net Cash From / (Used In) Investing Activities - 303
Financing Activities
Other
Repayment of Student Financial Supplement Scheme 24 56,091 GST Appropriation - 73,198
Total Cash Received 24 129,289
Cash Used
Student Financial Supplement Scheme - Buyback 9,223 208,935 Return of GST Appropriations to the OPA - 66,039
Total Cash Used 9,223 274,974
Net Cash From / (Used In) Financing Activities (9,199) (145,685)
Net Increase / (Decrease) in Cash Held (2,662,325) (61,978,822) Cash at the beginning of the reporting period 2,016 2,224 Cash from the Official Public Account for:
- Appropriations 3,014,805 62,628,164 - Special accounts 490,185 764,149
Cash to Official Public Account for: - Special accounts (457,662) (648,643) - Other (384,408) (765,056)
Cash at the End of the Reporting Period 2,611 2,016
This schedule should be read in conjunction with the accompanying notes.
340 FaCS Annual Report 2004–05
DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
SCHEDULE OF ADMINISTERED ITEMS (continued)
2005 2004Notes $'000 $'000
Administered Commitments
as at 30 June 2005
BY TYPE
Capital Commitments
Land and buildings - - Infrastructure, plant and equipment - -
Other Commitments
Project commitments - - Research and development - - Other commitments 5,962,124 5,658,309
Total Other Commitments 5,962,124 5,658,309
Commitments Receivable (479,895) (527,083) Net Commitments by Type 5,482,229 5,131,226
BY MATURITY
Capital Commitments
One year or less - - From one to five years - - Over five years - -
Other Commitments
One year or less 2,291,105 1,995,055 From one to five years 3,317,721 3,302,390 Over five years (126,597) (166,219)
Net Administered Commitments by Maturity 5,482,229 5,131,226
NB: All commitments are GST inclusive where relevant.
This schedule should be read in conjunction with the accompanying notes.
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DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
SCHEDULE OF ADMINISTERED ITEMS (continued)
Administered Contingencies
as at 30 June 2005
Administered Contingent Liabilities Claims for Damages Total
2005 2004 2005 2004
Balance from previous period 97 - 97 -
New - 97 - 97
Re-measurement (97) - (97) -
Liabilities crystallised - - - -
Obligations expired - - - -
Total Administered Contingent Liabilities - 97 - 97
2005 2004
Administered contingent assets Nil Nil
Unquantifiable and remote contingencies are disclosed in Note 24: Administered Contingent Liabilities.
Statement of Activities Administered on Behalf of Government
The major administered activities of the Agency are directed towards achieving the three outcomes described in Note 1 to the Financial Statements. The major financial activities are the payment of benefit entitlements under the Social Security Act and A New Tax System (ANTS) Act as well as the delivery of grant and subsidy programmes.
Details of planned activities for the year can be found in the Agency Portfolio Budget and Portfolio Additional Estimates Statements for 2004-05, which have been tabled in Parliament.
This schedule should be read in conjunction with the accompanying notes.
342 FaCS Annual Report 2004–05
DEPARTMENT OF FAMILY AND COMMUNITY SERVICES
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2005
Note 1: Summary of Significant Accounting Policies 14
Note 2: Adoption of AASB Equivalents to International Financial Reporting Standards from 2005-2006 23
Note 3: Events Occurring After Balance Date 27
Note 4: Operating Revenues 28
Note 5: Operating Expenses 32
Note 6: Borrowing Costs Expense 34
Note 7: Financial Assets 35
Note 8: Non-Financial Assets 36
Note 9: Interest Bearing Liabilities 43
Note 10: Provisions 43
Note 11: Payables 44
Note 12: Equity 45
Note 13: Cash Flow Reconciliation 47
Note 14: Contingent Liabilities and Assets 48
Note 15: Executive Remuneration 49
Note 16: Remuneration of Auditors 50
Note 17: Average Staffing Levels 50
Note 18: Financial Instruments 51
Note 19: Revenues Administered on Behalf of Government 55
Note 20: Expenses Administered on Behalf of Government 55
Note 21: Assets Administered on Behalf of Government 57
Note 22: Liabilities Administered on Behalf of Government 58
Note 23: Administered Reconciliation Table 59
Note 24: Administered Contingent Liabilities 60
Note 25: Administered Investments 61
Note 26: Administered Financial Instruments 62
Note 27: Appropriations 66
Note 28: Assets Held in Trust 77
Note 29: Specific Payment Disclosures 77
Note 30: Reporting of Outcomes 78
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Notes to and forming part of the Financial Statements
Note 1: Summary of Significant Accounting Policies
1.1 Objectives of Department of Family and Community Services
The objective of the Department of Family and Community Services is to create a fair and cohesive Australian society by promoting the economic and social well being of all Australians, particularly those in need.
The Department is structured to meet three outcomes:
Outcome 1 - Families are strong
Services and assistance that contribute to children and young people having the best possible start to life; promote healthy family relationships; allow families to adapt to changing economic and social conditions; and encourage families that nurture individuals and take an active part in their community.
Outcome 2 - Communities are strong
Services and assistance that encourage communities to be self-reliant and to connect with their members; and promote partnerships between business, communities and governments.
Outcome 3 - Individuals reach their potential
Services and assistance that facilitate people to participate actively in economic and community life, work to their capacity, access a responsive and sustainable safety net and fully develop their capabilities.
Agency activities contributing toward these outcomes are classified as either departmental or administered. Agency activities involve the use of assets, liabilities, revenues and expenses controlled or incurred by the Agency in its own right. Administered activities involve the management or oversight by the Agency, on behalf of the Government, of items controlled or incurred by the Government.
Agency activities are identified under four headings for Outcome 1.
Output Group 1.1 Family Assistance
Output Group 1.2 Youth and Student Support
Output Group 1.3 Child Support and
Output Group 1.4 Child Care Support.
Agency activities are identified under two headings for Outcome 2.
Output Group 2.1 Housing Support and
Output Group 2.2 Community Support.
Agency activities are identified under four headings for Outcome 3.
Output Group 3.1 Labour Market Assistance
Output Group 3.2 Support for People with a Disability
Output Group 3.3 Support for Carers and
Output Group 3.4 Support for the Aged.
The Agency comprises the Social Security Appeals Tribunal and the Department of Family and Community Services.
The continued existence of the Agency in its present form, and with its present programs, is dependent on Government policy and on continuing appropriations by Parliament for the Agency's administration and programs.
344 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
1.2 Basis of Accounting
The financial statements are required by section 49 of the Financial Management and Accountability Act 1997 and are a general purpose financial report.
The statements have been prepared in accordance with:
Finance Minister's Orders (or FMOs, being the Financial Management and Accountability Orders (Financial Statements for reporting periods ending on or after 30 June 2005));
Australian Accounting Standards and Accounting Interpretations issued by the Australian Accounting Standards Board; and
Consensus Views of the Urgent Issues Group.
The Statements of Financial Performance and Financial Position have been prepared on an accrual basis and are in accordance with historical cost convention, except for certain assets, which, as noted, are at valuation. Except where stated, no allowance is made for the effect of changing prices on the results or the financial position.
Assets and liabilities are recognised in the Statement of Financial Position when and only when it is probable that future economic benefits will flow and the amounts of the assets or liabilities can be reliably measured. However, assets and liabilities arising under agreements equally proportionately unperformed are not recognised unless required by an Accounting Standard. Liabilities and assets that are unrecognised are reported in the Schedule of Commitments and the Schedule of Contingencies (other than unquantifiable or remote contingencies, which are reported at Note 14).
Revenues and expenses are recognised in the Statement of Financial Performance when and only when the flow or consumption or loss of economic benefits has occurred and can be reliably measured.
Administered revenues, expenses, assets and liabilities and cash flows reported in the Schedule of Administered Items and related notes are accounted for on the same basis and using the same policies as for Departmental items, except where otherwise stated at Note 1.18.
1.3 Changes in Accounting Policy
The accounting policies used in the preparation of these financial statements are consistent with those used in 2003-04, except in respect of the Family Tax Benefit. In previous years, FaCS reported all assets and liabilities for the Family Tax Benefit (FTB) payments under the Taxation Liability Method (TLM). The TLM method recognises assets and liabilities when beneficiaries lodge their tax return. On advice from the Department of Finance and Administration, FaCS has restated all assets and liabilities for FTB under the Economic Transaction Method (ETM). The ETM method requires an entity to estimate the potential assets and liabilities that may have accrued during the current year and recognise these at the end of the reporting period. This change has resulted in an increase in the receivable for FTB of $524,292,494, and a decrease in the payable for FTB of $126,841.
A liability was recognised for the first time in 2003-04 for the Pension Bonus Scheme and is included within Age Pension expenditure figures. This year a liability has been calculated for current registrants ($132m) and a provision has also been recognised for potential registrants ($565m) of the Scheme and is based on an Actuarial Assessment of the Scheme, conducted by the Australian Government Actuary. In 2003-04 the non current portion of the liability was recorded as a payable in the financial statements. For 2004-05 this amount has been more appropriately reported as a provision.
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Notes to and forming part of the Financial Statements
1.4 Revenue
Revenues from GovernmentAmounts appropriated for Departmental outputs appropriations for the year (less any current year savings and reductions) are recognised as revenue, except for certain amounts which relate to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned.
Resources Received Free of ChargeServices received free of charge are recognised as revenue when and only when a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense.
Contributions of assets at no cost of acquisition or for nominal consideration are recognised at their fair value when the asset qualifies for recognition, unless received from another government agency as a consequence of a restructuring of administrative arrangements (refer to Note 1.5).
Other RevenueRevenue from the sale of goods is recognised upon the delivery of goods to customers.
Revenue from rendering of services is recognised by reference to the stage of completion of contracts or other agreements to provide services. The stage of completion is determined according to the proportion that costs incurred to date bear to the estimated total costs of the transaction.
Receivables for goods and services are recognised at the nominal amounts due less any provision for bad and doubtful debts. Collectability of debts is reviewed at balance date. Provisions are made when collectability of the debt is judged to be less rather than more likely.
Interest revenue is recognised on a time proportionate basis that takes into account the effective yield on the relevant asset.
Revenue from disposal of non-current assets is recognised when control of the asset has passed to the buyer.
1.5 Transactions with the Government as Owner
Equity injectionsAmounts appropriated which are designated as 'equity injections' for a year (less any savings offered up in Portfolio Additional Estimates Statements) are recognised directly in Contributed Equity in that year.
Restructuring of Administrative ArrangementsNet assets received from or relinquished to another Commonwealth agency or authority under a restructuring of administrative arrangements are adjusted at their book value directly against contributed equity.
1.6 Employee Entitlements
Liabilities for services rendered by employees are recognised at the reporting date to the extent that they have not been settled.
Liabilities for wages and salaries (including non-monetary benefits), annual leave and sick leave are measured at their nominal amounts. Other employee benefits expected to be settled within 12 months of the reporting date are also measured at their nominal amounts.
The nominal amount is calculated with regard to the rates expected to be paid on settlement of the liability.
346 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
All other employee benefit liabilities are measured as the present value of the estimated future cash outflows to be made in respect of services provided by employees up to the reporting date.
LeaveThe liability for employee benefits includes provision for annual leave and long service leave. No provision has been made for sick leave as all sick leave is non-vesting and the average sick leave taken in future years by employees of the Agency is estimated to be less than the annual entitlement for sick leave.
The leave liabilities are calculated on the basis of employees' remuneration, including the Agency's employer superannuation contribution rates to the extent that the leave is likely to be taken during service rather than paid out on termination.
The liability for long service leave has been determined by reference to the work of an actuary as at 30 June 2005.The estimate of the present value of the liability takes into account attrition rates and pay increases through promotion and inflation.
Separation and redundancyProvision is made for separation and redundancy benefit payments. The Agency recognises an expense and liability for separation and redundancy benefit payments when an offer has been made and has been formally accepted by the employee.
SuperannuationStaff of the Agency are members of the Commonwealth Superannuation Scheme and the Public Sector Superannuation Scheme. The liability for their superannuation benefits is recognised in the financial statements of the Australian Government and is settled by the Australian Government in due course.
The Agency makes employer contributions to the Australian Government at rates determined by an actuary to be sufficient to meet the cost to the Australian Government of the superannuation entitlements of the Agency's employees.
The liability for superannuation recognised as at 30 June represents outstanding contributions for the final fortnight of the year.
1.7 Leases
A distinction is made between finance leases which effectively transfer from the lessor to the lessee substantially all the risks and benefits incidental to ownership of leased non-current assets and operating leases under which the lessor effectively retains substantially all such risks and benefits.
The Agency maintains finance leases for certain information technology assets. Where a non-current asset is acquired by means of a finance lease, the asset is capitalised at the present value of minimum lease payments at the beginning of the lease term and a liability recognised at the same time and for the same amount. The discount rate used is the interest rate implicit in the lease. Leased assets are amortised over the period of the lease. Lease payments are allocated between the principal component and the interest expense.
Operating lease payments are expensed on a basis, which is representative of the pattern of benefits derived from the leased assets. The net present value of future net outlays in respect of surplus space under non-cancelable lease agreements is expensed in the period in which the space becomes surplus.
Lease incentives taking the form of 'free' leasehold improvements and rent holidays are recognised as liabilities. These liabilities are reduced by allocating lease payments between rental expense and reduction of the liability.
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Notes to and forming part of the Financial Statements
1.8 Borrowing Costs
All borrowing costs are expensed as incurred except to the extent that they are directly attributable to qualifying assets, in which case they are capitalised. The amount capitalised in a reporting period does not exceed the amount of costs incurred in that period.
1.9 Cash
Cash means notes and coins held and any deposits held at call with a bank or financial institution. Cash is recognised at its nominal amount.
1.10 Other Financial Instruments
Government loans are carried at the balance yet to be repaid. Interest is expensed as it accrues unless it is directly attributable to a qualifying asset.
Trade CreditorsTrade creditors and accruals are recognised at their nominal amounts, being the amounts at which the liabilities will be settled. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced).
Contingent Liabilities and Contingent AssetsContingent liabilities (assets) are not recognised in the Statement of Financial Position but are discussed in the relevant schedules and notes. They may arise from uncertainty as to the existence of a liability (asset), or represent an existing liability (asset) in respect of which settlement is not probable or the amount cannot be reliably measured. Remote contingencies are part of this disclosure. Where settlement becomes probable, a liability (asset) is recognised. A liability (asset) is recognised when its existence is confirmed by a future event, settlement becomes probable or reliable measurement becomes possible.
1.11 Acquisition of Assets
Assets are recorded at cost on acquisition except as stated below. The cost of acquisition includes the fair value of assets transferred in exchange and liabilities undertaken.
Assets acquired at no cost, or for nominal consideration, are initially recognised as assets and revenues at their fair value at the date of acquisition, unless acquired as a consequence of restructuring administrative arrangements. In the latter case, assets are initially recognised as contributions by owners at the amounts at which they were recognised in the transferor Agency's accounts immediately prior to the restructuring.
348 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
1.12 Infrastructure (Land, Buildings and Property), Plant and Equipment
Asset Recognition ThresholdPurchases of infrastructure, plant and equipment are recognised initially at cost in the Statement of Financial Position, except for purchases costing less than $2,000, which are expensed in the year of acquisition (other than where they form part of a group of similar items which are significant in total).
Revaluations
BasisBuildings, plant and equipment are carried at valuation, being revalued annually with sufficient frequency such that the carrying amount of each asset class is not materially different, at reporting date, from its fair value. Valuations undertaken in any year are as at 30 June.
Fair values for each class of asset are determined as shown below.
Asset class Fair value measured at:
Leasehold improvements Depreciated replacement cost
Plant and equipment Written down current cost
Assets which are surplus to requirements are measured at their net realisable value. As at 30 June 2005 there were no assets in this situation (30 June 2004: nil).
FrequencyLand and building assets are subject to a formal valuation every three years. Plant and equipment assets are subject to a formal revaluation every four years. Formal valuations are carried out by an independent qualified valuer. In between formal valuations, PP&E assets are revalued using an appropriate index reflecting movements in the value of similar assets.
Freehold land, buildings on freehold land and leasehold improvements subject to formal valuations are each revalued progressively on a geographical basis. In between formal valuations, these assets are revalued using an appropriate index reflecting movements in the value of similar assets.
ValuationAll valuations are conducted by an independent qualified valuer.
Depreciation Depreciable infrastructure, plant and equipment assets are written-off to their estimated residual values over their estimated useful lives to the Agency using, in all cases, the straight-line method of depreciation. Leasehold improvements are depreciated on a straight-line basis over the lesser of the estimated useful life of the improvements or the unexpired period of the lease.
Depreciation rates (useful lives) and methods are reviewed at each reporting date and necessary adjustments are recognised in the current, or current and future reporting periods, as appropriate. Residual values are re-estimated for a change in prices only when assets are revalued.
Depreciation rates applying to each class of depreciable asset are based on the following useful lives:
Purchased software 2 to 5 years 2 to 5 yearsLeasehold improvements 8 years or lease term 8 years or lease termPlant and equipment 3 to 10 years 3 to 10 years
The aggregate amount of depreciation allocated for each class of asset during the reporting period is disclosed in Note 5C.
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1.13 Impairment of Non-Current Assets
Non-current assets carried at up-to-date fair value at the reporting date are not subject to impairment testing.
The non-current assets carried at cost or deprival value, which are not held to generate net cash inflows, have been assessed for indications of impairment. Where indications of impairment exist, the carrying amount of the asset is compared to the higher of its net selling price and depreciated replacement cost and is written down to that value if greater.
The Department reviewed all fixed assets for impairment for which none were found to be impaired.
1.14 Intangibles
The Agency's intangibles comprise internally developed software for internal use. These assets are carried at cost.
Software is amortised on a straight-line basis over its anticipated useful life. The useful lives of the Agency's software is 5 to 10 years (2003-04: 5 to 10 years). Note 8D.
All software assets were assessed for indications of impairment as at 30 June 2005. Three software assets were found to be impaired. This resulted in an adjustment of $72,644.
1.15 Taxation
The Agency is exempt from all forms of taxation except fringe benefits tax and the goods and services tax (GST).
Revenues, expenses and assets are recognised net of GST:
except where the amount of GST incurred is not recoverable from the Australian Taxation Office; and
except for receivables and payables.
1.16 Foreign Currency
Transactions denominated in a foreign currency are converted at the exchange rate at the date of the transaction. Foreign currency receivables and payables are translated at the exchange rates current as at balance date. Associated currency gains and losses are not material.
1.17 Insurance
The Agency has insured for risks through the Government's insurable risk managed fund, called 'Comcover'. Workers' compensation is insured through the Government's Comcare Australia.
1.18 Reporting of Administered Activities
Administered revenues, expenses, assets, liabilities and cash flows are disclosed in the Schedule of Administered Items and related Notes.
Except where otherwise stated below, administered items are accounted for on the same basis and using the same policies as for Departmental items, including the application to the greatest extent possible of Accounting Standards, Accounting Interpretations and UIG Consensus Views.
Administered Cash Transfers to and from Official Public Account
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Revenue collected by the Agency for use by the Government rather than the Agency is Administered Revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of Government. These transfers to and from the OPA are adjustments to the administered cash held by the Agency on behalf of the Government and reported as such in the Statement of Cash Flows in the Schedule of Administered Items and in the Administered Reconciliation Table in Note 23. Thus the Schedule of Administered Items largely reflects the Government's transactions, through the Agency, with parties outside the Government.
RevenueAll administered revenues are revenues relating to the core operating activities performed by the Agency on behalf of the Commonwealth.
LoansLoans are recognised at the balance of principal outstanding. Collectability is reviewed at balance date. Provision is made for bad and doubtful loans where collection of the loan or part thereof is judged to be less rather than more likely. In rare circumstances, loan repayment may be waived. Interest is credited to revenue as it accrues.
Administered InvestmentsAdministered investments in controlled entities are not consolidated because their consolidation is relevant only at the Whole of Government level.
Administered investments, other than those required to be equity accounted, are to be recognised on the cost basis, adjusted for any subsequent capital injections or withdrawals and for any impairment losses.
Administered ReceivablesAdministered receivables represent debts owed to the Agency by past and present customers. Administered receivables exclude amounts expected to be recovered on behalf of other agencies under the Social Security (Administration) Act 1999.
All debts known to be irrecoverable are excluded from the value of administered receivables. Irrecoverable debts comprise amounts written off pursuant to section 1236 of the Social Security Act 1991 and amounts waived pursuant to Section 1237 of the Social Security Act 1991. In accordance with Departmental guidelines for the operation of waivers under section 1237 of the Social Security Act 1991, where a debt is not likely to exceed a threshold amount and it is not cost effective for the Commonwealth to recover the debt, the total value of such amounts are waived.
The provision for doubtful debts for Personal Benefits is based on an actuarial assessment, conducted by the Australian Government Actuary (AGA) in May 2005. The provision is based on a program based percentage applied based on the historical trends in debt recovery for each program. Overall the provision reflects 18% of the total debt balance at 30 June. Current recovery rates are used to estimate the current and non current administered receivables.
Grants and Subsidies
The Agency administers a number of grant and subsidy schemes on behalf of the Government.
Grant and subsidy liabilities are recognised to the extent that (i) the services required to be performed by the grantee have been performed or (ii) the grant eligibility criteria have been satisfied, but payments due have not been made.
A commitment is recorded when the Government enters into an agreement to make these grants but services have not been performed or criteria satisfied. When grant monies are paid in advance for performance or eligibility, a prepayment is recognised.
1.19 Voluntary Disclosure - Administered
The net value of administered personal benefit expenditure made during 2004-05 totaled $45.5 billion (2003-04: $61.5 billion). Payments to customers are determined in accordance with provisions under Social Security Law and other legislation. Payments made under Social Security Law are assessed, determined and paid by officers of Centrelink under delegation from the Agency.
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Notes to and forming part of the Financial Statements
Payments made by Centrelink appear in the financial statements of the Agency, which receives appropriations for the payments.
Readers of these Financial Statements should note that the Social Security Administration Act 1999 imposes an obligation on customers to disclose to Centrelink information about financial and personal circumstances that affect entitlement to payment. This is a necessary part of Centrelink's administration, which acknowledges that, at the time certain information is required, only the customer is in a position to provide that information.
Unreported changes in circumstances can lead to incorrect payment, even if no deliberate fraud is intended. However, risks associated with relying on voluntary disclosure by customers are mitigated by a comprehensive portfolio risk management plan, underpinned by compliance strategies, which have been built up over many years. The compliance framework has been developed to meet the requirements of social security legislation and is administratively effective.
The compliance framework does not rely solely on information provided by customers to determine customers' entitlement. A comprehensive risk management strategy minimises the potential for incorrect payment by subjecting customers to a variety of review processes. If debts are identified, Centrelink seeks to recover them in a lump sum or by installments. While the risk management strategy is principally directed at minimising debts, the detection of underpayments will also result in an adjustment to the customer's level of entitlement.
The risk management strategy focuses on three objectives: prevention, detection and deterrence. It encompasses:
Pre-grant procedures, which require proof of identity and verification of key facts relevant to eligibility;
'Front door' reviews which check new client details against information held by Centrelink before any payments are made. These processes assist in preventing dual payments to customers, detecting incorrect dependant details and identifying outstanding debts owed to Centrelink;
Frequent opportunities for customers to advise changes of circumstances through personal lodgment of periodic review forms;
Data matching reviews, such as the extensive data-matching program authorised under the Data-Matching Program (Assistance and Tax) Act 1990. This program identifies client information affecting entitlement which has not been disclosed and covers information relating to identity, payments received from other Government agencies and undisclosed income or assets; and
Selective reviews which target customers with characteristics known to have a high incidence of incorrect payment. Selective reviews are targeted through the use of risk algorithms generated from statistical analysis of customer characteristics for various customer populations and are continually refined in response to the outcomes of review activity and emerging risk areas.
In addition, the Agency conducts regular random samples of payment types. These show that the most likely cause of incorrect payment is customers' failure to report employment income. Much of this is subsequently captured through data matching and overall, the residual effect on outlays is estimated to be minimal.
While Centrelink acts promptly to address all areas of material risk as they emerge, the Agency accepts that a small proportion of non-compliance may go undetected. However, given the above risk management strategy, and the results of the random samples, the Agency is satisfied that the incidence of incorrect payment is not material in terms of total payments, and that the financial statements materially reflect the activities of the Agency's administered program.
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Note 2: Adoption of AASB Equivalents to International Financial Reporting Standards from
2005-2006
The Australian Accounting Standards Board has issued replacement Australian Accounting Standards to apply from 2005-06. The new standards are the Australian Equivalents to International Financial Reporting Standards (AEIFRS). The International Financial Reporting Standards are issued by the International Accounting Standards Board. The new standards cannot be adopted early. The standards being replaced are to be withdrawn with effect from 2005-06, but continue to apply in the meantime, including reporting periods ending on 30 June 2005.
The purpose of issuing AEIFRS is to enable Australian entities reporting under the Corporations Act 2001 to be able to more readily access overseas capital markets by preparing their financial reports according to accounting standards more widely used overseas.
For-profit entities complying with AEIFRS will be able to make an explicit and unreserved statement of compliance with International Financial Reporting Standards (IFRS) as well as a statement that the financial report has been prepared in accordance with Australian Accounting Standards.
It is expected that the Finance Minister will continue to require compliance with the Accounting Standards issued by the AASB, including the AASB Equivalents to IFRSs, in his Orders for the Preparation of Departmental financial statements for 2005-06 and beyond.
AEIFRS contain certain additional provisions that will apply to not-for-profit entities, including Australian Government agencies. Some of these provisions are in conflict with IFRS, and therefore the Agency will only be able to assert that the financial report has been prepared in accordance with Australian Accounting Standards. AAS 29 Financial Reporting by Government Departments will continue to apply under AEIFRS.
Accounting Standard AASB 1047 Disclosing the impact of Adopting Australian Equivalents to International Financial Reporting Standards requires that the financial statements for 2004-05 disclose:
an explanation of how the transition to AEIFRS is being managed;
narrative explanations of the key policy differences arising from the adoption of AEIFRS;
any known or reliably estimable information about the impacts on the financial report had it been prepared using the Australian equivalents to IFRS; and
Where an entity is not able to make a reliable estimate, or where quantitative information is not known, the entity should update the narrative disclosures of the key differences in accounting policies that are expected to arise from the adoption of AEIFRS.
The purpose of this Note is to make these disclosures.
Management of the transition to AEIFRS
The Agency has taken the following steps for the preparation towards the implementation of AASB Equivalents:
The Agency's Audit Committee is tasked with oversight of the transition to and implementation of the AASB Equivalents to IFRSs. The Chief Finance Officer is formally responsible for the project and reports regularly to the Audit Committee on progress against the formal plan approved by the Committee.
The plan requires the following key steps to be undertaken and sets deadlines for their achievement:
All major accounting policy differences between current AASB standards and AEIFRS were identified by 30 June 2004.
Systems changes necessary to be able to report under the AEIFRS, including those necessary to capture data under both sets of rules for 2004-05, and the testing and implementation of those changes.
A transitional balance sheet as at 1 July 2004, was completed and submitted to Audit during the year. All audit findings were addressed.
An AEIFRS compliant balance sheet as at 30 June 2005 was prepared during the preparation of the 2004-05 statutory financial reports.
The 2004-05 Balance Sheet under AEIFRS will be reported to the Department of Finance and Administration in line with their reporting deadlines.
The plan also addresses the risks to successful achievement of the above objectives and includes strategies to keep implementation on track to meet deadlines.
Consultants were engaged where necessary to assist with each of the above steps.
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2005-2006 (continued)
Major changes in accounting policy
The Agency believes that the first financial report prepared under AEIFRS i.e. at 30 June 2006, will be prepared on the basis that the Agency will be a first time adopter under AASB 1 First-time Adoption of Australian Equivalents to International Financial Reporting Standards. Changes in accounting policies under AEIFRS are applied retrospectively i.e. as if the new policy had always applied except in relation to the exemptions available and prohibitions under AASB 1. This means that an AEIFRS compliant balance sheet has to be prepared as at 1 July 2004. This will enable the 2005-06 financial statements to report comparatives under AEIFRS.
A first time adopter of AEIFRS may elect to use exemptions under paragraphs 13 to 25E. When developing the accounting policies applicable to the preparation of the 1 July opening balance sheet, no exemptions were applied by the Agency.
Changes to major accounting policies are discussed in the following paragraphs.
Management's review of the quantitative impacts of AEIFRS represents the best estimates of the impacts of the changes as at reporting date. The actual effects of the impacts of AEIFRS may differ from these estimates due to:
continuing review of the impacts of AEIFRS on the Agency's operations;
potential amendments to the AEIFRS and AEIFRS Interpretations; and
emerging interpretation as to the accepted practice in the application of AEIFRS and the AEIFRS Interpretations.
Infrastructure, plant and equipment
It is expected that the 2005-06 Finance Minister's Orders will continue to require property plant and equipment assets to be valued at fair value in 2005-06.
All borrowing costs are expensed as incurred except to the extent that they are directly attributable to qualifying assets, in which case they are capitalised. It is expected that the FMOs for 2005-06 will elect to expense all borrowing costs under AEIFRS.
An analysis of borrowing costs revealed that no material amounts have been capitalised. Consequently, there are no adjustments for borrowing costs.
Intangible Assets
The Agency currently recognises internally-developed software assets on the cost basis.
The Australian Equivalent on Intangibles does not permit intangibles to be measured at valuation unless there is an active market for the intangible. The Agency's internally-developed software is specific to the needs to the Agency and is not traded.
Prior to 1999-2000 internally developed software was valued at replacement cost. All internally developed software valued at replacement cost have a zero written down value as at 1 July 2004. As such, no adjustment is made for intangible assets.
Impairment of Intangibles and Property, Plant and Equipment
Agency’s policy on impairment of non-current assets is at Note 1.14
Under AEIFRS these assets will be subject to assessment for impairment and, if there are indications of impairment, an assessment of the degree of impairment. (Impairment measurement must also be done, irrespective of any indications of impairment, for intangible assets not yet available for use). The impairment test is that the carrying amount of an asset must not exceed the greater of (a) its fair value less costs to sell and (b) its value in use. 'Value in use' is the netpresent value of net cash inflows for cash generating units of the Agency (in particular, of the Education Services Business Operation) and depreciated replacement cost for other assets which would be replaced if Agency were deprived of them.
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Note 2: Adoption of AASB Equivalents to International Financial Reporting Standards from
2005-2006 (continued)
The most significant changes are that, for the Agency's cash generating assets, the recoverable amount is only generally to be measured where there is an indication of impairment. Previously all assets' recoverable amount was tested.
However, an impairment assessment of the Agency's assets indicated that no adjustments will be required.
Decommissioning, Restoration and Make-good
The Agency has assessed non-financial assets for obligations for decommissioning, restoration and make-good. Leasehold improvements held by the Agency have make-good obligations. AEIFRS requires that a provision for make good be recognised against the asset and be expensed through depreciation in future years. As at 30 June 2005 the Agency had recorded $3,644,000 in make-good provisions.
The impact of this change would be to increase the gross cost of leasehold improvement assets by $3,644,000 and to increase accumulated depreciation by $2,286,425. This will result in an increase to accumulated results of $1,357,575, which includes an increase to depreciation expense of $543,596.
Employment Benefits
The provision for long service leave is measured at the present value of estimated future cash outflows using market yields as at the reporting date on national government bonds.
The 2003-04 Financial reports noted that the AEIFRS standards may require the market yield on corporate bonds to be used. The AASB has decided that a deep market in high quality corporate bonds does not exist and therefore national government bonds will be referenced.
AEIFRS require that annual leave that is not expected to be taken within 12 months of balance date be discounted. After assessing the staff leave profile, the Agency does not expect that any material amounts of the annual leave balance will not be taken in the next 12 months. Consequently, there are no adjustments required for non-current annual leave.
The impact of discounting the non-current annual leave would have been a decrease to employee liabilities as at 30 June 2005 of $247,826.
Administered Items
Assessment of the administered assets and liabilities of Agency indicate that there are no adjustments due to the transition to AEIFRS.
Financial Instruments
AEIFRS include an option for entities not to restate comparative information in respect of financial instruments in the first AEIFRS report. It is expected that Finance Minister’s Orders will require entities to use this option. Therefore, the amounts for financial instruments presented in the Agency’s 2004-05 primary financial statements are not expected to change as a result of the adoption of AEIFRS.
The Agency will be required by AEFIRS to review the carrying amounts of financial instruments at 1 July 2005 to ensure they align with the accounting policies required by AEIFRS. It is expected that the carrying amounts of financial instruments held by Agency will not materially change as a result of this process.
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2005-2006 (continued)
*30 June
2005
30 June
2004
$'000 $'000
Reconciliation of Equity
Total Departmental Equity under AGAAP 84,766 19,204
Adjustments to Accumulated Results 1,606 2,174
Total Equity under AEIFRS 86,372 21,378
Reconciliation of Accumulated Results
Total Departmental Accumulated results under AGAAP 72,668 (2,433)
Adjustments:
Asset - carrying value for makegood 1,902 1,902
Depreciation (544) -
Discounting of Employee Benefits 272 272
Interest on Non-current Employee Benefits (24) -
Total Accumulated Results under AEIFRS 74,274 (259)
Reconciliation of Net surplus/(deficit) from ordinary
Activities for year ending 30 June 2005
Net surplus/ (deficit) from Ordinary activities under AGAAP 67,264
Adjustments
Interest on Non-current Employee Benefits (24)
Depreciation (544)
Net surplus/ (deficit) from Ordinary activities under AEIFRS 66,696
* 30 June results represent the accumulated impacts of AEIFRS from the date of transition.
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Note 3: Events Occurring After Balance Date
There were no post date events.
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2005 2004 $'000 $'000
Note 4: Operating Revenues
Note 4A: Revenues from GovernmentAppropriations for outputs 2,327,579 2,479,569 Total revenues from government 2,327,579 2,479,569
Note 4B: Goods and ServicesServices 2,698 1,536 Total sales of goods and services 2,698 1,536
Rendering of services to: Related entities 385 939 External entities 2,313 597
Total rendering of services 2,698 1,536
Note 4C: Interest RevenueInterest on deposits 2 14 Total interest revenue 2 14
Note 4D: Net Foreign Exchange GainNon speculative 1 4 Total foreign exchange gains 1 4
Note 4E: Other RevenuesResources received free of charge 858 1,070 Assets stocktake adjustment 2,284 4 Other 679 1,081 Total other revenues 3,821 2,155
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2005 2004 $'000 $'000
Note 4F: Fundamental ErrorNet revenue impact 48,410 - Total 48,410 -
Correction of Fundamental Error
The audited financial statements for the Agency for the year ended 30 June 2004 and 30 June 2003 were found to contain a fundamental error pertaining to the recognition of appropriation revenue and cash held with the Official Public Account (OPA), recognised as a receivable in 2003-04 and 2002-03.
The Agency undertook a review of its OPA balance in September 2004 and identified inconsistencies between the balance reported in the Audited Financial Statements and the balance as held by the Department of Finance and Administration.
The effect of the error on the financial statements is as follows:
For the year ended 30 June 2003,
Receivables: understated by $19.152 million
Appropriation Revenue: understated by $46.942 million
Appropriations Payable: overstated by $27.790 million
For the year ended 30 June 2004,
Receivables: understated by $48.410 million
Other Revenue: understated by $1.468 million
Accumulated Results $46.942 million
The Department has met its requirements to restate the financial information, and are represented in the following table.
2004 Restated 2003 Restated
$'000 $'000
Statement of Financial Performance
Revenues from ordinary activities Revenue from government 2,480,639 2,422,572 Sales of goods and service 1,536 738 Interest 14 3,343 Revenue from sale of assets 39 297 Foreign exchange gains 4 4 Other 2,553 1,132Total revenues from ordinary activities 2,484,785 2,428,086
Expenses from ordinary activities (excluding borrowing
cost expense)
Employees 299,258 270,572 Suppliers 198,586 174,867 Depreciation and amortisation 16,172 14,577 Write-down of assets 672 7,370 Value of asset sold 135 845 Foreign exchange loss 34 - Other 1,968,078 1,934,430Total expenses from ordinary activities (excluding borrowing cost expense) 2,482,935 2,402,661
Borrowing cost expense 317 244
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2005 2004 $'000 $'000
2004 Restated 2003 Restated
$'000 $'000
Net Surplus 1,533 25,181
Net credit/(debit) to asset revaluation reserve 7,535 3,094
Decrease in accumulated deficit on initial application of fair value under accounting standard AASB 1041: Revaluation of Non Current Assets - (94)
Decrease in accumulated deficit on application of accounting standard AASB 1028 - Measurement of Employee Benefits - (1,007)
Total revenues, expenses and valuation adjustments
recognised directly in equity 7,535 1,993
Total changes in equity other than those resulting from
transactions with the Australian Government as owners 9,068 27,174
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2005 2004 $'000 $'000
2004 Restated 2003 Restated
$'000 $'000
Statement of Financial Position
Financial Assets
Cash 2,554 2,944 Receivables 30,937 35,482 - OPA Receivable 91,530 73,344Total Financial Assets 125,021 111,770
Non Financial Assets
L&B 21,228 14,418 I,P&E 5,992 7,152 Intangibles 31,762 32,145 Other non financial assets 9,883 15,286Total Non Financial Assets 68,865 69,001
Total Assets 193,886 180,771
Interest Bearing Liabilities
Leases 2,385 2,170 Interest Bearing Liabilities 2,079 2,309Total Interest Bearing Liabilities 4,464 4,479
Provisions & Payables
Employee Provisions 85,980 81,895 Appropriation Payable - - Other Payables 35,828 36,776Total Provisions & Payables 121,808 118,671
Total Liabilities 126,272 123,150
Net Assets 67,614 57,621
Equity
Contributed Equity 10,773 9,848 Reserves 10,864 3,329 Retained surpluses / (Accumulated deficits) 45,977 44,444
Total Equity 67,614 57,621
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2005 2004 $'000 $'000
Note 5: Operating Expenses
Note 5A: Employee ExpensesWages and salary 169,529 219,274 Superannuation 35,797 40,386 Leave and other entitlements 18,743 29,683 Separation and redundancies 1,087 464 Other employee expenses 6,072 5,156 Total employee benefits expense 231,228 294,963 Worker compensation premiums 3,376 4,295 Total employee expenses 234,604 299,258
Note 5B: Supplier ExpensesGoods from external entities 7,353 7,196 Services from related entities 10,489 32,991 Services from external entities 111,173 123,864 Operating lease rentals* 29,566 34,535 Total supplier expenses 158,581 198,586
* These comprise minimum lease payments only.
Note 5C: Depreciation and Amortisation(i)Depreciation Other infrastructure, plant and equipment 2,304 3,489 Leasehold Improvements 13 1,482 Total Depreciation 2,317 4,971
(ii)Amortisation Software and other intangibles 5,027 8,433 Leasehold improvements 4,216 2,768 Total Amortisation 9,243 11,201 Total depreciation and amortisation 11,560 16,172
The aggregate amounts of depreciation or amortisation expensed during the reporting period for each class of depreciable asset are as follows:
Other infrastructure, plant and equipment 2,304 3,489 Leasehold Improvements 13 1,482 Software and other intangibles 5,027 8,433 Leasehold improvements 4,216 2,768 Total depreciation and amortisation 11,560 16,172
No depreciation or amortisation was allocated to the carrying value of other assets.
Note 5D: Write Down of AssetsFinancial assets
Bad and doubtful debts expense (374) 672 Non-financial assets
Infrastructure, Plant and Equipment 65 - Intangibles - write off 845 - Total write-down of assets 536 672
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2005 2004 $'000 $'000
Note 5E: Net Losses from Sale of AssetsProceeds from disposal 2 39 Net book value of assets disposed (60) (71) Costs on disposal - (64)
Total proceeds from disposals 2 39 Total value of assets disposed (60) (135) Total net loss from disposal of assets (58) (96)
Note 5F: Resources Provided Free of ChargePayments for service delivery on behalf of DEWR and DEST 451,705 - Total resources provided free of charge 451,705 -
Note 5G: Net Foreign Exchange LossNon speculative (1) (34) Total foreign exchange losses (1) (34)
Note 5H: Payments For Service DeliveryCentrelink 1,437,948 1,949,518 Health Insurance Commission 8,605 8,485 Australian Taxation Office 10,497 8,884 Department of Veteran's Affairs 184 197 Other 247 238 Total payments for service delivery 1,457,481 1,967,322
Note 5I: OtherOther 491 756 Total other expenses 491 756
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2005 2004 $'000 $'000
Note 6: Borrowing Costs Expense
Note 6A: Borrowing Costs ExpenseFinance lease 228 306 Lease incentives - 11 Total borrowing costs expense 228 317
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2005 2004 $'000 $'000
Note 7: Financial Assets
Note 7A: CashCash on hand 3 10 Cash at bank - Departmental 5,446 2,544 Total cash 5,449 2,554
All cash recognised is a current asset.
Note 7B: ReceivablesGoods and services 1,897 1,625 Less: Provision for doubtful debts (94) (727)
1,803 898 GST receivable from the Australian Taxation Office 2,846 4,207 Appropriations receivable
- OPA Receivable/Appropriations Receivable 97,524 43,120 Receivable from Centrelink for over estimation of service delivery 40,364 18,426 Other receivables (Net) 8,969 7,406 Total Receivables (net) 151,506 74,057
All receivables are current assets.
Receivables (gross) are aged as follows: Current 150,564 73,284 Overdue by: Less than 30 days 29 63 30 to 60 days 17 87 60 to 90 days 108 38 More than 90 days 882 1,312 Total receivables (gross) 151,600 74,784
The provision for doubtful debts is aged as follows: Current - - Overdue by: Less than 30 days - - 30 to 60 days - - 60 to 90 days - - More than 90 days (94) (727) Total provision for doubtful debts (94) (727)
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2005 2004 $'000 $'000
Note 8: Non-Financial Assets
Note 8A: Land and Buildings
Leasehold improvements - at cost - 4,649
- Accumulated depreciation - (426) - 4,223
- at 1999-00 valuation (deprival) - 256 - Accumulated depreciation - (256)
- -
- at 2002-03 valuation (fair value) - 10,801 - Accumulated depreciation - (2,552)
- 8,249
- at 2003-04 valuation (fair value) - 11,422 - Accumulated depreciation - (2,765)
- 8,657
- at 2004-05 valuation 12,920 - - Accumulated amortisation (3,231) -
9,689 -
- Assets under construction 433 99 Total leasehold improvements 10,122 21,228
Total Land and Buildings (non-current) 10,122 21,228
Note 8B: Infrastructure, Plant and EquipmentInfrastructure, plant and equipment
- under construction 391 396 391 396
- at 1999-00 valuation (deprival) - 538 - Accumulated depreciation - (370)
- 168
- at 2000-01 valuation (deprival) - 1,792 - Accumulated depreciation - (1,675)
- 117
- at 2002-03 valuation (fair value) - 157 - Accumulated depreciation - (86)
- 71
- at 2004-05 valuation 1,220 11,069 - Accumulated depreciation (1,220) (5,829)
- 5,240
- at 2004-05 valuation 6,070 - - Accumulated amortisation (1,896) -
4,174 -
Total Infrastructure, Plant and Equipment (non-current) 4,565 5,992
366 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 8
C:
An
aly
sis
of
Pro
per
ty,
Pla
nt
and
Eq
uip
men
t
TA
BL
E A
- R
econ
cili
ati
on
of
the
op
enin
g a
nd
clo
sin
g b
ala
nce
s of
pro
per
ty,
pla
nt
an
d e
qu
ipm
ent
Item
Bu
ild
ing
s -
Lea
seh
old
Imp
rov
emen
ts
Lan
d &
Bu
ild
ing
s -
To
tal
Oth
er I
P&
ET
OT
AL
$'0
00
$'0
00
$'0
00
$'0
00
As
at 1
July
2004
Gro
ss b
ook v
alue
27,2
27
27,2
27
13,9
52
41,1
79
Acc
um
ula
ted d
epre
ciat
ion/a
mort
isat
ion
(5
,999)
(5
,999)
(7
,960)
(1
3,9
59)
Op
enin
g n
et b
ook
val
ue
2
1,2
28
2
1,2
28
5
,992
27,2
20
Addit
ions:
by p
urc
has
e
8,8
71
8,8
71
1,8
06
10,6
77
by f
inan
ce l
ease
2,0
01
2,0
01
-
2
,001
fro
m a
cqu
isit
ion
of
op
erat
ion
s (i
ncl
ud
ing
res
tru
ctu
rin
g)
-
-
-
-
Ass
ets
rem
ov
ed o
n r
estr
uct
ure
:
Bo
ok
Val
ue
(2
3,4
37)
(2
3,4
37)
(7
30
)
(24
,16
7)
Acc
um
ula
ted d
epre
ciat
ion
4,1
25
4,1
25
208
4
,333
Dep
reci
atio
n/a
mort
isat
ion e
xpen
se
(4
,216)
(4
,216)
(2
,304)
(6
,520)
Oth
er m
ov
emen
ts
1
,55
0
1
,55
0
(3
40
)
1,2
10
Dis
posa
ls:
Fro
m d
isposa
l of
oper
atio
ns
-
-
(565)
(5
65
)
Oth
er d
isposa
ls
-
-
498
4
98
As
at
30
Ju
ne
20
05
Gro
ss b
ook v
alue
16,2
12
16,2
12
14,6
21
30,8
33
Acc
um
ula
ted d
epre
ciat
ion/a
mort
isat
ion
(6
,090)
(6
,090)
(1
0,0
56)
(1
6,1
46)
Clo
sing
net
boo
k va
lue
10,1
22
10,1
22
4,5
65
14,6
87
367Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
TA
BL
E B
- A
sset
s at
valu
ati
on
Item
Bu
ild
ing
s -
Lea
seh
old
Imp
rov
emen
ts
Lan
d &
Bu
ild
ing
s -
To
tal
Oth
er I
P&
ET
OT
AL
$'0
00
$'0
00
$'0
00
$'0
00
As
at
30
Ju
ne
20
05
Gro
ss v
alue
16,2
12
16,2
12
14,6
21
30,8
33
Acc
um
ula
ted d
epre
ciat
ion /
am
ort
isat
ion
(6
,090)
(6
,090)
(1
0,0
56)
(1
6,1
46)
Net
boo
k va
lue
10,1
22
10,1
22
4,5
65
14,6
87
As
at 3
0 J
un
e 2
00
4
Gro
ss v
alue
22,4
79
22,4
79
2,4
87
24,9
66
Acc
um
ula
ted d
epre
ciat
ion /
am
ort
isat
ion
(5
,573)
(5
,573)
(2
,131)
(7
,704)
Net
boo
k v
alu
e
16,9
06
1
6,9
06
3
56
1
7,2
62
TA
BL
E C
- A
sset
s h
eld
un
der
fin
an
ce l
ease
Item
Bu
ild
ing
s -
Lea
seh
old
Imp
rov
emen
ts
Lan
d &
Bu
ild
ing
s -
To
tal
Oth
er I
P&
ET
OT
AL
$'0
00
$'0
00
$'0
00
$'0
00
As
at
30
Ju
ne
20
05
Gro
ss v
alue
-
-
2,3
78
2
,378
Acc
um
ula
ted d
epre
ciat
ion /
am
ort
isat
ion
-
-
(721)
(7
21
)
Net
boo
k va
lue
-
-
1,6
57
1
,657
As
at 3
0 J
une
2004
Gro
ss v
alue
-
-
4,5
68
4,5
68
Acc
um
ula
ted d
epre
ciat
ion /
am
ort
isat
ion
-
-
(2,2
12)
(2
,212)
Net
boo
k v
alu
e -
-
2
,356
2
,356
368 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
TA
BL
E D
- A
sset
s u
nd
er c
on
stru
ctio
n
Item
Bu
ild
ing
s -
Lea
seh
old
Imp
rov
emen
ts
Lan
d &
Bu
ild
ing
s -
To
tal
Oth
er I
P&
ET
OT
AL
$'0
00
$'0
00
$'0
00
$'0
00
Gro
ss v
alu
e at
30 J
un
e 2005
433
433
391
824
Gro
ss v
alue
at 3
0 J
une
2004
99
99
396
495
369Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 8D: Intangibles
Computer software: Internally developed - in progress (non-current) 2,341 6,455
2,341 6,455
Internally developed - in use (non-current) 24,571 49,444 - Accumulated amortisation (12,368) (24,575)
12,203 24,869
Externally acquired - at cost (non-current) 2,248 2,364 - Accumulated amortisation (1,997) (1,987)
251 377
Copyright - at cost - 105 - Accumulated amortisation - (44)
- 61
Total intangibles (non-current) 14,795 31,762
370 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
TABLE A - Reconciliation of the opening and closing balances of intangibles
Item Computer
Software
Other
Intangibles
Intangibles -
Total
$'000 $'000 $'000
As at 1 July 2004
Gross book value 58,263 105 58,368
Accumulated depreciation/amortisation (26,562) (44) (26,606)
Net book value 31,701 61 31,762
Additions
by purchase 8,172 - 8,172
by finance lease - - -
from acquisition of operations - - -
Assets removed on restructure:
Book value (37,276) (105) (37,381)
Accumulated depreciation 17,209 60 17,269
Depreciation/amortisation expense (5,011) (16) (5,027)
As at 30 June 2005
Gross book value 29,159 - 29,159
Accumulated depreciation/amortisation (14,364) - (14,364)
Net book value 14,795 - 14,795
371Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
TABLE B - Intangibles under construction
Item Computer
Software
Other
Intangibles
TOTAL
$'000 $'000 $'000
Gross value at 30 June 2005 2,341 - 2,341
Gross value at 30 June 2004 6,455 - 6,455
372 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 8E: Other Non-Financial AssetsPrepayment to Centrelink 21,990 4,692 Other Prepayments 522 5,191 Total other non-financial assets 22,512 9,883
All other non-financial assets are current assets.
Note 9: Interest Bearing Liabilities
Note 9A: LeasesFinance lease commitments Payable:
Within one year 845 1,580 In one to five years 842 1,152
Minimum lease payments 1,687 2,732 Deduct: future finance charges (220) (347) Net lease liability 1,467 2,385
Lease liability is represented by: Current 716 1,383 Non-current 751 1,002
Net lease liability 1,467 2,385
Finances leases exist in relation to IT assets. The leases are non-cancelable and for fixed terms averaging three years. The interest rate implicit in the leases averaged 10.23% (2004: 10.16%). At reporting date, the Department had finance leases with terms averaging three years. The lease assets secure the lease liabilities. The Agency guarantees the residual values of all assets leased. There are no contingent rentals.
Note 9B: Other Interest Bearing Liabilities
Lease incentives - 2,079 Total other interest bearing liabilities - 2,079
Other interest bearing liabilities are represented by: Current - 331 Non-current - 1,748
Total other interest bearing liabilities - 2,079
Note 10: Provisions
Note 10A: Employee ProvisionsSalaries and wages 411 6,218 Leave 35,238 71,480 Superannuation 6,645 5,015 Other - 209 Aggregate employee benefit liability and related on-costs 42,294 82,922
Employee provisions are represented by: Current 12,581 28,524 Non-current 29,713 54,398
42,294 82,922
Note 10B: Other ProvisionsProvision for make good - current 355 706 Provision for make good - non-current 3,289 2,352 Total other provisions 3,644 3,058
373Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 11: Payables
Note 11A: Supplier PayablesTrade creditors 26,042 32,719 Other creditors 2,420 2,499 Total supplier payables 28,462 35,218
All supplier payables are current liabilities.
Note 11B: Other Payables
Payable to Government 48,106 -
Unearned income 210 610 Total other payables 48,316 610
All other payables are current liabilities.
374 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 1
2:
Eq
uit
y
No
te 1
2A
: A
nal
ysi
s o
f E
qu
ity
Item
Acc
um
ula
ted
Res
ult
sA
sset
Rev
alu
ati
on
Res
erv
es
Co
ntr
ibu
ted
Eq
uit
yT
OT
AL
EQ
UIT
Y
20
05
$
'00
0
20
04
$
'00
0
20
05
$
'00
0
20
04
$
'00
0
20
05
$
'00
0
20
04
$
'00
0
20
05
$
'00
0
20
04
$
'00
0
Op
enin
g b
alan
ce a
s at
1 J
uly
(2,4
33
)
(2,4
98
)
10
,86
4
3
,32
9
1
0,7
73
9
,84
8
1
9,2
04
1
0,6
79
Net
su
rplu
s/d
efic
it
6
7,2
66
6
5
n/a
n/a
n/a
6
7,2
64
6
5
Net
rev
aluat
ion i
ncr
emen
t /
(dec
rem
ent)
n
/an
/a
45
3
7
,53
5
n/a
n/a
4
53
7,5
35
Dec
reas
e in
ret
ain
ed s
urp
luse
s o
n a
pp
lica
tio
n o
f tr
ansi
tio
nal
pro
vis
ion
s in
acc
ou
nti
ng
sta
nd
ard A
AS
B
10
41
-
-
n/a
n/a
n/a
-
-
-
Tra
nsa
ctio
ns
wit
h o
wn
er:
Dis
trib
uti
ons
to o
wner
:
Ret
urn
s o
f C
apit
al
Res
tru
ctu
rin
g
7
,83
5
-
(2
,44
5)
-
(8
,19
8)
-
(2
,80
6)
-
Co
ntr
ibu
tio
ns
by
ow
ner
:
Appro
pri
atio
ns
(equit
y i
nje
ctio
ns)
-
-
-
-
65
0
9
25
65
0
9
25
Clo
sin
g b
ala
nce
as
at
30 J
un
e
72
,66
8
(2
,43
3)
8
,87
2
1
0,8
64
3
,22
5
1
0,7
73
8
4,7
65
1
9,2
04
Less
: ou
tsid
e eq
uit
y i
nte
rest
s
-
-
-
-
-
-
-
-
Tota
l equ
ity a
ttrib
utab
le to
the
Com
mon
wea
lth
7
2,6
68
(2
,43
3)
8
,87
2
1
0,8
64
3
,22
5
1
0,7
73
8
4,7
65
1
9,2
04
375Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 12B: Restructuring
Restructuring Departmental
In respect of functions assumed, the net book values of assets and liabilities transferred to the Department for no consideration and recognised as at 26 November 2001 were:
Total assets recognised 1,377 - Total liabilities recognised (5,191) -Net assets assumed (3,814) -
In respect of programs/sub programs relinquished, the following assets and liabilities were transferred by the Department:
Total assets relinquished (71,387) - Total liabilities relinquished 72,365 -Net assets relinquished 978 -
Net decrease in departmental assets during the year (2,836) -
In respect of functions assumed by the Department, the net book values of revenues and expenses are as follows:
Total revenues - -
Expenses
Recognised by the Department of Prime Minister and Cabinet 2,767 - Recognised by the Department of Family and Community Services 1,873 -Total expenses 4,640 -
Restructuring Administered
In respect of functions assumed, the net book values of assets and liabilities transferred to the Department for no consideration and recognised as at 26 November 2001 were:
Total assets recognised 40,729 - Total liabilities recognised - -Net assets assumed 40,729
In respect of programs/sub programs relinquished, the following assets and liabilities were transferred by the Department:
Total assets relinquished (1,843,601) - Total liabilities relinquished 1,408,179 -Net liabilities relinquished (435,422) -
Net decrease in administered assets during the year (394,693) -
Administered revenues and expenses for the full year for the functions assumed by the Department are as follows:
Total revenues - -
Expenses
Recognised by the Department of Prime Minister and Cabinet 3,766 - Recognised by ATSIS/ATSIC 50,945 - Recognised by the Department of Family and Community Services 210,041 -Total expenses 264,752 -
376 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 13: Cash Flow Reconciliation
Reconciliation of cash per Statement of Financial Position to Statement of Cash
Flows
Cash at year end per Statement of Cash Flows 5,449 2,554 Statement of Financial Position items comprising above cash:
'Financial Asset - Cash' 5,449 2,554
Reconciliation of net surplus to net cash from
operating activities:
Net surplus / (deficit) 67,264 65 Depreciation and amortisation 11,560 16,171 Restructuring adjustment 4,564 - Asset stocktake adjustment (2,284) - Net write down of non-financial assets 536 1,420 Loss on disposal of assets 59 32 (Increase)/decrease in net receivables (102,311) 15,618 (Increase)/decrease in other non-financial assets (16,755) 5,404 Increase/(Decrease) in interest bearing liabilities 4,426 (15) Increase/(decrease) in employee provisions (4,310) 1,027 Increase/(decrease) in suppliers payable 10,551 (25,681) Other 47,443 (1,405) Net cash from / (used by) operating activities 20,743 12,636
377Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
Note 14: Contingent Liabilities and Assets
Quantifiable ContingenciesThe Schedule of Contingencies reports contingent liabilities in respect of claims for damages/costs of $148,000 (2004: $298,000). This amount represents an estimate of the Department's liability based on precedent cases. The Department is defending the claims.
The Schedule of Contingencies reports contingent assets in respect of claims for damages/costs of Nil (2004: $232,000).
378 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
Note 15: Executive Remuneration 2005 2004
The number of executives who received or were due to receive total remuneration of $100,000 or more:
$100 000 to $109 999 4 - $110 000 to $119 999 1 6 $120 000 to $129 999 1 1 $130 000 to $139 999 4 5 $140 000 to $149 999 5 5 $150 000 to $159 999 10 10 $160 000 to $169 999 11 7 $170 000 to $179 999 5 5 $180 000 to $189 999 7 2 $190 000 to $199 999 2 7 $200 000 to $209 999 - 1 $210 000 to $219 999 3 - $220 000 to $229 999 - 1 $230 000 to $239 999 1 2 $240 000 to $249 999 - 1 $250 000 to $259 999 1 - $260 000 to $269 999 1 - $280 000 to $289 999 - 1 $290 000 to $299 999 2 1 $440 000 to $449 999 - 1
The aggregate amount of total remuneration of executives shown above. $9,805,353 $9,728,755
The aggregate amount of separation and redundancy/termination benefit payments during the year to executives shown above. -- $292,908
No executive from the Child Support Agency met the $100,000 threshold while they were a part of the FaCS Portfolio.
379Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
Note 16: Remuneration of Auditors 2005 2004
$ $
Financial statement audit services are provided free of charge to the department. The fair value of audit services provided was: 858,000 1,070,000
Other services provided by the Auditor General related to the verification of the 2004/05 Triple Bottom Line Report. These services are yet to be invoiced.
Triple Bottom Line Report 93,000 113,000
Note 17: Average Staffing Levels 2005 2004
The average staffing levels for the Agency during the year were: 1,905 4,647
380 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 1
8:
Fin
an
cia
l In
stru
men
ts
No
te 1
8A
: T
erm
s, C
on
dit
ion
s an
d A
cco
un
tin
g P
oli
cies
Fin
an
cial
Inst
rum
ent
Note
s A
ccou
nti
ng P
oli
cies
an
d M
eth
od
s (i
ncl
ud
ing r
ecogn
itio
n
crit
eria
an
d m
easu
rem
ent
basi
s)
Natu
re o
f U
nd
erly
ing I
nst
rum
ent
(in
clu
din
g s
ign
ific
an
t
term
s an
d c
on
dit
ion
s aff
ecti
ng t
he
am
ou
nt,
tim
ing a
nd
cert
ain
ty o
f ca
sh f
low
s)
FIN
AN
CIA
L A
SS
ET
SFi
nanc
ial a
sset
s are
reco
gnis
ed w
hen
cont
rol o
ver f
utur
e ec
onom
ic b
enef
its is
est
ablis
hed
and
the
amou
nt o
f the
ben
efit
can
be re
liabl
y m
easu
red.
Cas
h
7A
C
ash
in
clu
des
cas
h o
n h
and
an
d i
n b
ank
s. C
ash
is
reco
gn
ised
at
its
nom
inal
am
ount.
T
he
maj
ori
ty o
f th
e D
epar
tmen
t's c
ash
is
hel
d b
y t
he
Dep
artm
ent
of
Fin
ance
.
Rec
eivab
les
7B
T
hes
e re
ceiv
able
s ar
e re
cognis
ed a
t th
e nom
inal
am
ounts
due
less
any p
rovis
ion f
or
doubtf
ul
deb
ts.
Co
llec
tabil
ity o
f deb
ts
is r
evie
wed
at
bal
ance
dat
e. P
rovis
ions
are
mad
e w
hen
co
llec
tio
n o
f th
e d
ebt
is j
ud
ged
to
be
less
rat
her
th
an m
ore
li
kel
y.
All
rec
eivab
les
wit
h e
nti
ties
exte
rnal
to t
he
Com
monw
ealt
h
hav
e cr
edit
ter
ms
net
30
day
s o
r le
ss (
20
04
: 3
0 d
ays)
.
Appro
pri
atio
ns
rece
ivab
le
7
Thes
e re
ceiv
able
s ar
e re
cognis
ed a
t th
eir
nom
inal
am
ounts
. A
ppro
pri
atio
n r
ecei
vab
le w
ill
be
dra
wn u
po
n a
s re
qu
ired
.
381Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
Fin
an
cial
Inst
rum
ent
Note
s A
ccou
nti
ng P
oli
cies
an
d M
eth
od
s (i
ncl
ud
ing r
ecogn
itio
n
crit
eria
an
d m
easu
rem
ent
basi
s)
Natu
re o
f U
nd
erly
ing I
nst
rum
ent
(in
clu
din
g s
ign
ific
an
t
term
s an
d c
on
dit
ion
s aff
ecti
ng t
he
am
ou
nt,
tim
ing a
nd
cert
ain
ty o
f ca
sh f
low
s)
FIN
AN
CIA
L L
IAB
ILIT
IES
Fina
ncia
l lia
bilit
ies a
re re
cogn
ised
whe
n a
pres
ent o
blig
atio
n to
ano
ther
par
ty is
ent
ered
into
and
the
amou
nt o
f the
liab
ility
ca
n be
relia
bly
mea
sure
d.F
inan
ce l
ease
lia
bil
itie
s 9A
L
iabil
itie
s ar
e re
cognis
ed a
t th
e pre
sent
val
ue
of
the
min
imu
m
leas
e pay
men
ts a
t th
e beg
innin
g o
f th
e le
ase.
T
he
dis
count
rate
s use
d a
re e
stim
ates
of
the
inte
rest
rat
es i
mpli
cit
in t
he
leas
e.
At
report
ing d
ate,
the
Dep
artm
ent
had
fin
ance
lea
ses
wit
h
term
s av
erag
ing 3
yea
rs.
The
inte
rest
rat
e im
pli
cit
in t
he
leas
es a
ver
aged
10.2
3%
(2004:
10.1
6%
).
Tra
de
cred
itors
11A
C
redit
ors
an
d a
ccru
als
are
reco
gnis
ed a
t th
eir
nom
inal
am
ounts
, bei
ng t
he
amounts
at
whic
h t
he
liab
ilit
ies
wil
l be
sett
led. L
iabil
itie
s ar
e re
cognis
ed t
o t
he
exte
nt
that
the
goods
and s
ervic
es h
ave
bee
n r
ecei
ved
(an
d i
rres
pec
tive
of
hav
ing
bee
n i
nvoic
ed).
Set
tlem
ent
is u
sual
ly m
ade
net
30
day
s.
UN
RE
CO
GN
ISE
D F
INA
NC
IAL
LIA
BIL
ITIE
S
Indem
nit
ies
D
etai
ls a
re d
iscl
ose
d i
n N
ote
14 -
Conti
ngen
t L
iabil
itie
s an
d
Ass
ets.
Ref
er N
ote
14 -
Conti
ng
ent
Lia
bil
itie
s an
d A
sset
s.
382 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 1
8B
: In
tere
st R
ate
Ris
k
Fin
an
cia
l In
stru
men
t N
ote
sF
loa
tin
g I
nte
rest
Ra
te
Fix
ed I
nte
rest
Rate
Matu
rin
g I
n
Non
-In
tere
st B
eari
ng
Tota
l W
eigh
ted
Aver
age
Eff
ecti
ve
Inte
rest
Ra
te
1 Y
ear
or
Les
s 1
to
5 Y
ears
>
5 Y
ears
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
%
20
04 %
Fin
an
cial
Ass
ets
Cas
h7
A
5,4
49
2
,55
4
-
-
-
-
-
-
-
-
5
,44
9
2
,55
4
n/a
2.0
0%
Rec
eiv
able
s fo
r g
oo
ds
and
ser
vic
es
7B
-
-
-
-
-
-
-
-
5
1,2
30
3
1,6
64
5
1,2
30
3
1,6
64
n/a
n/a
OP
A r
ecei
vab
les
fro
m
DoF
A
7B
-
-
-
-
-
-
-
-
97
,52
4
4
3,1
20
9
7,5
24
4
3,1
20
n/a
n/a
Tota
l
5,4
49
2
,55
4
-
-
-
-
-
-
1
48
,754
7
4,7
84
1
54
,203
7
7,3
38
Fin
an
cia
l L
iab
ilit
ies
Fin
ance
lea
se l
iab
ilit
ies
9A
-
-
71
6
1
,38
3
7
51
1
,00
2
-
-
-
-
1
,46
7
2
,38
5
10
.23
%1
0.1
6%
Tra
de
cred
ito
rs
11
A
-
-
-
-
-
-
-
-
2
6,0
42
3
5,2
18
2
6,0
42
3
5,2
18
n/a
n/a
Tota
l
-
-
71
6
1
,38
3
7
51
1
,00
2
-
-
2
6,0
42
3
5,2
18
2
7,5
09
3
7,6
03
Lia
bil
itie
s n
ot
reco
gn
ised
Ind
emn
itie
s
-
-
-
-
-
-
-
-
-
10
0
-
1
00
n/a
n/a
To
tal
-
-
-
-
-
-
-
-
-
1
00
-
1
00
383Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
Note 18C: Net Fair Values of Financial Assets and LiabilitiesTotal Aggregate Total Aggregate
Carrying Net Fair Carrying Net Fair Amount Value Amount Value
Notes $'000 $'000 $'000 $'000
Departmental Financial Assets
Cash 7A 5,449 5,449 2,554 2,554 OPA receivables from DoFA 7A 97,524 97,524 43,120 43,120 Receivables for goods and services 7B 51,230 51,230 31 30,937 Total Financial Assets 154,203 154,203 45,705 76,611
Financial Liabilities (Recognised)
Finance lease liabilities 9A 1,467 1,467 2,385 2,385 Trade creditors 11A 26,042 26,042 35,218 35,218 Total Financial Liabilities (Recognised) 27,509 27,509 37,603 37,603
Financial Liabilities (Unrecognised)
Indemnities 14 - - 100 100 Total Financial Liabilities (Unrecognised) - - 100 100
Financial assets
The net fair values of cash and non-interest bearing monetary financial assets approximate their carrying amounts.
Financial liabilities
The net fair values of the finance lease liabilities are based on discounted cash flows using current interest rates for liabilities with similar risk profiles.
The net fair values for the trade creditors are approximated by their carrying amounts.
The net fair value of the indemnity given is taken to be nil as the likelihood of any part of it being called upon is regarded as remote.
Note 18D: Credit Risk ExposuresThe Department's maximum exposures to credit risk at reporting date in relation to each class of recognised financial assets is the carrying amount of those assets as indicated in the Statement of Financial Performance.
The Department has no significant exposures to any concentrations of credit risk.
All figures for credit risk referred to do not take into account the value of any collateral or other security.
384 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 19: Revenues Administered on Behalf of Government
Interest
Interest on BAS Refund 2 20 Interest on Advance 308 311 SFSS Interest Recovered 13 41 Total interest 323 372
Other revenue
Indexation of Student Financial Supplement Scheme 3 49,752 Special Account Revenue 3,534 4,134 Other 28,023 47,686 Total other revenue 31,560 101,572
Child Support Revenue
Child Support Penalties 23,742 51,711 Child Support Trust Revenue 365,700 755,649 Child Support Advances - 10 Total Child Support Revenue 389,442 807,370
NZ Reciprocal Agreement
NZ Reciprocal Agreement 78,013 88,887 Total NZ Reciprocal Agreement 78,013 88,887
Total Revenues Administered on Behalf of Government 499,338 998,201
Note 20: Expenses Administered on Behalf of Government
Grants
Non-Profit Institutions 674,600 523,420 State and Territory governments 1,887,585 1,860,024 Local governments 60,803 56,443 External entities - Private Sector 32,591 22,835 Overseas 210 - Other 96,031 82,150 Total grants 2,751,820 2,544,872
The nature of grants are as follows: Grants for Stronger Families 339,148 328,585
Grants for Stronger Communities 1,542,670 1,311,077
Grants for Economic and Social Participation 870,002 905,210
Total grants 2,751,820 2,544,872
Subsidies
External entities 13,323 13,081 Total subsidies 13,323 13,081
Personal benefits - indirect
Indirect 14,571 36,574 Total personal benefits - indirect 14,571 36,574
385Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 20: Expenses Administered on Behalf of Government (continued)
Personal benefits - direct
Age Pension 19,973,154 19,538,351 Family Tax Benefit 12,861,209 15,069,343 Disability Support Pension 2,499,214 7,485,330 Parenting Payment (Partnered and Single) 1,951,312 5,981,605 Newstart Allowance 1,475,358 4,753,635 Youth Allowance 733,534 2,247,575 Childcare Benefit 1,462,851 1,382,877 Carer Allowance - Adult and Child 1,108,857 965,286 Carer Payment 1,059,286 920,229 Partner Allowance (Pension) 230,666 546,638 Wife Pension (DSP) 290,107 325,299 Widow Allowance 219,647 469,751 Mature Age Allowance 95,198 372,386 Partner Allowance (Benefit) 111,455 313,865 Austudy Payment 83,189 260,347 Maternity Allowance 790,128 223,252 Wife Pension (Age) 179,134 193,960 Special Benefit 100,607 113,297 Other 134,364 317,577 Utilities Allowance 68,667 - Seniors Concession Allowance 57,967 - Total personal benefits - direct 45,485,904 61,480,603
Suppliers
Supply of goods and services 49,886 53,017 Total suppliers 49,886 53,017
Write-down and impairment of assets
Financial assets
Other 366 1,656 Student Financial Supplement Scheme (19,023) 24,555 Student Financial Supplement adjustment to opening balance (59) (918) Personal benefits 144,059 60,695 Child support bad debt expense (225,272) 43,619 Total write-down and impairment of assets (99,929) 129,607
Interest
Student Financial Supplement Scheme 11,219 42,857 Total interest 11,219 42,857
Other expenses
Child Support Trust Expenditure 612,333 670,089 Annual Appropriation Maintenance Advances - 2,552 Special Appropriation Maintenance Advances - 87,833 Special Account Expense 5,321 4,512 Other 57,172 126,905 Total other expenses 674,826 891,891
Total Expenses Administered on Behalf of Government 48,901,620 65,192,502
386 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 21: Assets Administered on Behalf of Government
Financial Assets
Cash
Administered bank account -Department of Family and Community Services 2,502 (29,780) Administered on behalf of other entities 109 31,796 Total cash 2,611 2,016
Receivables
Student Financial Supplement Scheme - 2,130,011 Less: Provision for doubtful debts - (1,192,806)
- 937,205 Personal Benefits - Direct 1,361,569 1,848,262 Less: Provision for doubtful debts (242,320) (465,546)
1,119,249 1,382,716 Child Support Receivable - 821,845 Less: Provision for doubtful debts - (735,782)
- 86,063 Child Support Penalties - 383,824 Less: Provision for doubtful debts - (375,665)
- 8,159 Other Loans 9,277 8,362
Other receivables 32,261 58,054 Less: Provision for doubtful debts (293) (14,725)
31,968 43,329 Total receivables (net) 1,160,494 2,465,834
Receivables (gross) are aged as follows: Not overdue 1,030,082 3,583,172 Overdue by:
Less than 30 days 14,574 79,384 30 to 60 days 9,451 62,954 60 to 90 days 7,435 59,133 More than 90 days 341,565 1,465,715
Total receivables (gross) 1,403,107 5,250,358
The provision for doubtful debts is aged as follows: Not overdue (234,911) (1,514,555) Overdue by:
Less than 30 days (301) (52,109) 30 to 60 days (195) (45,019) 60 to 90 days (153) (44,426) More than 90 days (7,053) (1,128,415)
Total provision for doubtful debts (242,613) (2,784,524)
Investments
Australian Institute of Family Studies 788 788 Other 492 117 Aboriginal Hostels Limited 40,104 - Total investments 41,384 905
Total financial assets 1,204,489 2,468,755
387Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Non-financial Assets
Prepaid Grants 181,180 87
Total non-financial assets 181,180 87
Total Assets Administered on Behalf of Government 1,385,669 2,468,842
Note 22: Liabilities Administered on Behalf of Government
Interest Bearing Liabilities
Loans
Owing to the Commonwealth Bank - Student Financial Supplement Scheme - 574,521
Maturity schedule for loans:Payable:
Within one year - 187,028 In one to five years - 387,493
Total loans - 574,521
Total interest bearing liabilities - 574,521
Provisions
Personal benefits provision
Family Tax Benefit 2,047,630 2,044,528 Pension Bonus Scheme 697,510 554,291
Total personal benefits provisions 2,745,140 2,598,819
Total provisions 2,745,140 2,598,819
Payables
Personal benefits payable 413,179 1,482,685
Grants and subsidies
State & Territory governments 129 165 ATO Payable - payments funded by ATO on behalf of CSA 636 1,628
Private sector - Non-profit entities 11,498 8,718 Other entities 7,334 6,599
Total grants and subsides 19,597 17,110
Child support liability
ATO Payable - payments funded by ATO on behalf of CSA - 4,733 CSA Creditors - 11,180 Payments in advance - 11,692 Accrued Child Support Payable - 86,060
Total child support liability - 113,665
Other payables
Student Financial Supplement Scheme - 8,724 Other 3,731 8,221
Total other payables 3,731 16,945
Total payables 436,507 1,630,405
Total Liabilities Administered on Behalf of Government 3,181,647 4,803,745
388 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 23: Administered Reconciliation Table
Opening administered assets less administered liabilities as at 1 July (2,334,903) (122,922) Plus: Administered revenues 499,338 998,201 Less: Administered expenses (48,901,619) (65,192,502) Administered transfers to/from Australian Government: Appropriation transfers from OPA 3,504,990 63,396,019
Annual appropriations administered expenses - - Administered assets and liabilities appropriations - - Special appropriations (limited) - - Special appropriations (unlimited) - -
Transfers to OPA (842,070) (1,413,699) Special Appropriations payments made on FaCS’ behalf by Centrelink allocated drawing rights 46,667,369 - Restructuring (394,693) - Administered revaluations taken to/from reserves 376 - Other 5,234 - Movement in carrying amount of investment - - Currency translation gain/loss - -
Closing administered assets less administered liabilities as at 30 June (1,795,978) (2,334,903)
389Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 24: Administered Contingent Liabilities
Quantifiable Administered ContingenciesThe schedule of contingencies reports contingent liabilities in respect of damages/costs of $0 (2004: $96,600).
Unquantifiable Administered ContingenciesThere are currently a number of cases before both the Administrative Appeals Tribunal (AAT) and the Social Security Appeals Tribunal (SSAT) for which the outcomes are not yet known or able to be quantified. These cases relate to appeals regarding income support payments and other payments under the Social Security Act.
There are also a number of Act of Grace Payment requests currently being considered by the Finance Minister under s.33 of the FMA Act. The outcomes of these requests are not yet or able to be quantified.
Remote Administered ContingenciesThere are no known remote administered contingencies at 30 June 2005.
390 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
2005 2004 $'000 $'000
Note 25: Administered Investments
The Commonwealth has 100% of the equity interest of the Australian Institute of Family Studies (AIFS). The principal activity of AIFS is to promote understanding of factors affecting family stability and well-being in Australia, through the conduct, co-ordination and dissemination of research and other appropriate activities.
The Commonwealth has an interest in a property occupied by Yarra Community Housing located in Melbourne. The principal activity of the site is for the provision of community housing facilities. The Commonwealth owns 31% of the unimproved market value of the land. The equity in this property is secured by a deed of agreement between the Commonwealth and Yarra Community Housing Ltd, with the Commonwealth having a controlling interest over the use of the property. The Commonwealth revalued its interest in this property in 2004-05 and the updated value has been recorded in the financial statements.
The Commonwealth has 100% of the equity interest in Aboriginal Hostels Limited (AHL). The Commonwealth's interest in this entity was previously reported as part of the Immigration and Multicultural and Indigenous Affairs portfolio but as a result of Machinery of Government changes in 2004-05 this interest is now reported as part of the FaCS portfolio. The principal activity of AHL is to provide temporary accommodation to Aboriginal and Torres Strait Islander people through a national network of hostels.
391Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 2
6:
Ad
min
iste
red
Fin
an
cia
l In
stru
men
ts
a)
Ter
ms,
Co
nd
itio
ns
and
Acc
ou
nti
ng
Po
lici
es
Fin
an
cial
Inst
rum
ent
Note
sA
ccou
nti
ng P
oli
cies
an
d M
eth
od
s
(in
clu
din
g r
ecogn
itio
n c
rite
ria a
nd
mea
sure
men
t b
asi
s)
Natu
re o
f U
nd
erly
ing I
nst
rum
ent
(in
clu
din
g s
ign
ific
an
t te
rms
an
d c
on
dit
ion
s aff
ecti
ng t
he
am
ou
nt,
tim
ing a
nd
cer
tain
ty o
f ca
sh f
low
s)
FIN
AN
CIA
L A
SS
ET
SFi
nanc
ial a
sset
s are
reco
gnis
ed w
hen
cont
rol o
ver f
utur
e ec
onom
ic b
enef
its is
est
ablis
hed
and
the
amou
nt o
f the
ben
efits
ca
n be
relia
bly
mea
sure
d.
Cas
h2
1C
ash
in
clu
des
cas
h o
n h
and
an
d i
n b
ank
s. C
ash
is
reco
gn
ised
at
its
nom
inal
am
ount.
T
he
bal
ance
of
the
adm
inis
tere
d c
ash a
ccount
is n
on-i
nte
rest
b
eari
ng
.
Lo
ans
21
Loan
s ar
e re
cognis
ed a
t th
e am
ounts
len
t. C
oll
ecta
bil
ity o
f am
ou
nts
ou
tsta
nd
ing
is
rev
iew
ed a
t b
alan
ce d
ate.
P
rov
isio
n i
s m
ade
for
bad
an
d d
ou
btf
ul
loan
s w
her
e co
llec
tio
n o
f th
e lo
an
or
par
t th
ereo
f is
judged
to b
e le
ss r
ather
than
mo
re l
ikel
y.
Loan
s oth
er t
han
pen
sion l
oan
s ar
e m
ade
under
contr
act
for
per
iod
s u
p t
o 2
0 y
ears
. N
o s
ecu
rity
is
gen
eral
ly r
equ
ired
.
Pri
nci
ple
is
repai
d i
n f
ull
at
mat
uri
ty. I
nte
rest
is
not
char
ged
to
loan
s on c
hil
dca
re c
apit
al p
roje
cts
under
taken
by a
S
tate
/Ter
rito
ry.
Rec
eivab
les
21
Thes
e re
ceiv
able
s ar
e re
cognis
ed a
t th
e nom
inal
am
ounts
due
less
a p
rovis
ion f
or
doubtf
ul
deb
ts. C
oll
ecta
bil
ity o
f deb
ts i
s re
vie
wed
at
bal
ance
dat
e. P
rov
isio
ns
are
mad
e w
hen
co
llec
tio
n o
f th
e d
ebt
is j
ud
ged
to
be
less
rat
her
th
an m
ore
li
kel
y.
Coll
ecta
bil
ity o
f deb
ts i
s re
vie
wed
at
bal
ance
dat
e. P
rovis
ions
are
mad
e w
hen
coll
ecti
on o
f th
e deb
t is
judged
to b
e le
ss
likel
y r
ather
than
mo
re l
ikel
y.
392 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
Fin
an
cial
Inst
rum
ent
Note
sA
ccou
nti
ng P
oli
cies
an
d M
eth
od
s
(in
clu
din
g r
ecogn
itio
n c
rite
ria a
nd
mea
sure
men
t b
asi
s)
Natu
re o
f U
nd
erly
ing I
nst
rum
ent
(in
clu
din
g s
ign
ific
an
t te
rms
an
d c
on
dit
ion
s aff
ecti
ng t
he
am
ou
nt,
tim
ing a
nd
cer
tain
ty o
f ca
sh f
low
s)
FIN
AN
CIA
L L
IAB
ILIT
IES
Fina
ncia
l lia
bilit
ies a
re re
cogn
ised
whe
n a
pres
ent o
blig
atio
n to
ano
ther
par
ty is
ent
ered
into
and
the
amou
nt o
f the
liab
ility
ca
n be
relia
bly
mea
sure
d.
Tra
de
cred
ito
rs
22
Cre
dit
ors
are
rec
ognis
ed a
t th
eir
nom
inal
am
ounts
, bei
ng t
he
amo
un
ts a
t w
hic
h t
he
liab
ilit
ies
wil
l b
e se
ttle
d. L
iab
ilit
ies
are
reco
gnis
ed t
o t
he
exte
nt
that
the
goods
or
serv
ices
hav
e bee
n
rece
ived
(an
d i
rres
pec
tiv
e o
f h
avin
g b
een
inv
oic
ed).
Set
tlem
ent
is u
sual
ly m
ade
net
30
day
s.
Gra
nts
an
d s
ubsi
die
s p
ayab
le
22
Gra
nt
liab
ilit
ies
are
reco
gnis
ed t
o t
he
exte
nt
that
:
the
serv
ices
req
uir
ed t
o b
e p
erfo
rmed
by
th
e g
ran
tee
hav
e b
een
per
form
ed;
or
the
gra
nt
elig
ibil
ity c
rite
ria
hav
e bee
n s
atis
fied
and
sett
lem
ent
is o
uts
tan
din
g.
All
gra
nts
and s
ubsi
die
s ar
e to
en
titi
es t
hat
are
not
par
t of
the
Aust
rali
an G
over
nm
ent.
Set
tlem
ent
is u
sual
ly m
ade
acco
rdin
g
to t
he
term
s an
d c
ondit
ions
of
each
gra
nt.
This
is
usu
ally
w
ithin
30 d
ays
of
per
form
ance
or
elig
ibil
ity.
393Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
b)
Ad
min
iste
red
In
tere
st R
ate
Ris
k
Fin
an
cia
l In
stru
men
t N
ote
sF
loa
tin
g I
nte
rest
Ra
te
Fix
ed I
nte
rest
Ra
te
No
n-I
nte
rest
Bea
rin
gT
ota
lW
eig
hte
d A
ver
ag
e
Eff
ecti
ve
Inte
rest
Ra
te
1 Y
ear
or
less
1
to
5 y
ears
>
5 y
ears
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
$'0
00
20
04
$'0
00
20
05
%
20
04 %
Fin
an
cial
Ass
ets
Cas
h2
1
-
-
-
-
-
-
-
-
2
,61
1
2
,01
6
2
,61
1
2
,01
6
n/a
n/a
Rec
eivab
les
(gro
ss)
21
-
-
-
-
-
-
-
-
2
0,5
98
5
,24
1,9
96
2
0,5
98
5
,24
1,9
96
n/a
n/a
Lo
ans
to S
tate
&
Ter
rito
ry g
over
nm
ents
(g
ross
)2
1
-
-
-
-
-
-
-
-
2
,88
9
3
,11
7
2
,88
9
3
,11
7
n/a
n/a
Oth
er l
oan
s (g
ross
) 2
1
6,3
88
5
,24
5
-
-
-
-
-
-
-
-
6
,38
8
5
,24
5
5.0
0%
5.2
7%
Tota
l
6,3
88
5
,24
5
-
-
-
-
-
-
2
6,0
98
5
,24
7,1
29
3
2,4
86
5
,25
2,3
74
Tota
l Ass
ets
1
,38
5,6
69
2
,46
8,8
42
Fin
an
cia
l L
iab
ilit
ies
Tra
de
cred
ito
rs
22
-
8
,72
4
-
-
-
-
-
-
3
,73
1
3
,98
1,2
46
3
,73
1
3
,98
9,9
70
n/a
n/a
Gra
nts
an
d s
ub
sid
ies
pay
able
2
2
-
-
-
-
-
-
-
-
1
9,5
97
1
7,1
10
1
9,5
97
1
7,1
10
n/a
n/a
Bo
rro
win
gs
22
-
5
74
,521
-
-
-
-
-
-
-
-
-
5
74
,521
n/a
6.1
4%
Tota
l
-
5
83
,245
-
-
-
-
-
-
2
3,3
28
3
,99
8,3
56
2
3,3
28
4
,58
1,6
01
Tota
l Lia
bilit
ies
3
,18
1,6
47
4
,80
3,7
45
394 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
c) Net Fair Values of Administered Financial Assets and Liabilities
2005 2004Notes Total Aggregate Total Aggregate
Carrying Net Fair Carrying Net Fair Amount Value Amount Value
$'000 $'000 $'000 $'000
Financial Assets (Recognised)
Cash 21 2,611 2,611 2,016 2,016 Receivables (net) 21 1,382,167 1,382,167 5,241,996 5,241,996 Loans to state and territory governments (net) 21 2,889 2,889 3,117 3,117 Other loans (gross) 21 6,388 6,388 5,245 5,245 Total Financial Assets (Recognised) 1,394,055 1,394,055 5,252,374 5,252,374
Financial Liabilities (Recognised)
Trade creditors 22 3,162,050 3,162,050 3,989,970 3,989,970 Grants and subsidies payable 22 19,597 19,597 17,110 17,110 Borrowings 22 - - 574,521 574,521 Total Financial Liabilities (Recognised) 3,181,647 3,181,647 4,581,601 4,581,601
Financial Liabilities (Unrecognised)
Total Financial Liabilities (Unrecognised) - - - -
Financial AssetsThe net fair values of cash and non-interest bearing monetary financial assets approximate their carrying amounts. The net fair value of loans receivable are based on discounted cash flows using current interest rates for assets with similar risk profiles. Loans to state and territory governments are carried at cost which is above their net fair value. It is intended that all the loans will be held to maturity.
Financial Liabilities The net fair values for trade creditors and grant liabilities are short-term in nature, are approximated by their carrying amounts.
395Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 2
7:
Ap
pro
pri
ati
on
s
No
te 2
7A
: A
cqu
itta
l o
f A
uth
ori
ty t
o D
raw
Cas
h f
rom
th
e C
on
soli
dat
ed R
even
ue
Fu
nd
fo
r O
rdin
ary
An
nu
al S
erv
ices
Ap
pro
pri
atio
ns
Part
icu
lars
A
dm
inis
tere
d E
xp
ense
s D
epart
men
tal
To
tal
Ou
tco
me
1
Ou
tco
me
2
Ou
tco
me
3
Ou
tpu
ts
Yea
r en
ded
30
Ju
ne
20
05
$$
$$
$
Bal
ance
car
ried
fro
m p
revio
us
yea
r
38,3
11
,095
4
,226
,45
7
9
2,5
04
,218
4
,426
,25
0
1
39
,46
8,0
20
Fundam
enta
l er
ror
-
-
-
4
8,4
10
,00
0
48,4
10
,000
Red
uct
ion
in
ap
pro
pri
atio
ns
(pri
or
yea
rs)
(2
0,8
38,0
53)
4
,286
,12
8
(8
6,1
13,7
37)
3
8,6
93
,402
(63,9
72,2
60)
Adj
uste
d ba
lanc
e ca
rrie
d fo
r pre
viou
s per
iod
1
7,4
73
,042
8
,512
,58
5
6
,390
,48
1
9
1,5
29
,652
1
23
,90
5,7
60
Appro
pri
atio
n A
ct (
No. 1)
2004-0
5 -
bas
ic a
ppro
pri
atio
n
4
00
,43
0,0
00
6
7,6
50
,000
5
99
,13
7,0
00
2
,630
,51
9,0
00
3
,697
,73
6,0
00
Appro
pri
atio
n A
ct (
No. 3)
2004-0
5 -
bas
ic a
ppro
pri
atio
n
7
,367,0
00
11
,104,0
00
8
,994,0
00
101,5
92,0
00
129,0
57,0
00
Appro
pri
atio
n (
Tsu
nam
i F
inan
cial
Ass
ista
nce
) A
ct 2
004-0
5
-
674
,00
0
-
1
,772
,00
0
2
,446
,00
0
Dep
artm
enta
l ad
just
men
ts b
y t
he
Fin
ance
Min
iste
r (A
ppro
pri
atio
n A
cts)
-
-
-
-
-
Com
cover
rec
eipts
(A
ppro
pri
atio
n A
ct s
13)
-
-
-
-
Advan
ce t
o t
he
Fin
ance
Min
iste
r -
-
-
-
Adju
stm
ent
of
appro
pri
atio
ns
on c
han
ge
of
enti
ty f
unct
ion (
FM
AA
s32)
(1
0,3
75,8
95
)
199
,79
6,0
25
(2
11
,380
,00
0)
(3
58
,200
,28
4)
(3
80
,160
,154)
Red
uct
ion d
ue
to w
ork
load
agre
emen
t -
-
-
(
48,1
05,9
25)
(4
8,1
05,9
25)
Tra
nsf
ers
out
-
-
-
(
16,4
27,8
38)
(1
6,4
27,8
38)
Ref
unds
cred
ited
(net
) (F
MA
A s
30)
-
-
-
-
-
Ap
pro
pri
atio
ns
lap
sed
or
red
uce
d
(27,8
62,8
84)
(9,1
38,4
69)
(16,8
31,1
60)
-
(53,8
32,5
13)
Ap
pro
pri
atio
n r
edu
ced
by
sec
tio
n 9
det
erm
inat
ion
s (c
urr
ent
yea
r)
- -
- -
-
Sub-t
ota
l 2004 -
05
Annual
Appro
pri
atio
n
387,0
31,2
63
278,5
98,1
41
386,3
10,3
21
2,4
02,6
78,6
05
3,4
54,6
18,3
30
Appro
pri
atio
ns
to t
ake
acco
unt
of
reco
ver
able
GS
T (
FM
AA
s30A
)
40,0
95
,205
2
5,8
88
,937
3
2,8
76
,722
15,4
97
,139
1
14
,35
8,0
03
Annota
tions
to 'n
et a
ppro
pri
atio
ns'
(F
MA
A s
31)
6
03
,00
1
6
,307
,66
3
-
4
,340
,60
0
1
22
,01
7,0
58
Tota
l A
ppro
pri
atio
ns
avai
lable
for
pay
men
ts
427,7
29,4
69
310,7
94,7
41
419,1
87,0
43
2,4
22,5
16,3
44
3,6
90,9
93,3
90
Cas
h p
aym
ents
mad
e duri
ng t
he
yea
r (G
ST
incl
usi
ve)
406,8
63,8
27
304,8
89,0
09
416,1
43,6
54
2,3
17,9
65,4
02
3,5
56,6
27,6
86
Appro
pri
atio
ns
cred
ited
to S
pec
ial
Acc
ounts
(ex
cludin
g G
ST
) -
- -
- -
Bal
ance
of A
utho
rity
to D
raw
Cas
h fr
om th
e C
RF
for O
rdin
ary
Ann
ual
Serv
ices
App
ropr
iatio
ns
20,8
65
,642
5
,905
,73
2
3
,043
,38
9
1
04
,55
0,9
42
134
,36
5,7
04
396 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
Repr
esen
ted
by:
Cas
h a
t b
ank
an
d o
n h
and
-
-
-
5
,44
8,7
52
5,4
48
,75
2
Rec
eivab
les
- D
epar
tmen
tal
appro
pri
atio
ns
-
-
-
97,7
41,1
48
9
7,7
41
,148
Rec
eivab
les
– G
ST
rec
eivab
le f
rom
cust
om
ers
-
-
-
--
Rec
eivab
les
- G
ST
rec
eivab
le f
rom
the
AT
O
-
-
-
1,3
61,0
42
1
,361
,04
2
Rec
eiv
able
s –
Dep
artm
enta
l ap
pro
pri
atio
ns
rece
ivab
le –
dra
win
g r
igh
ts
wit
hh
eld
by
th
e F
inan
ce M
inis
ter
(FM
AA
s27
(4))
-
-
-
-
-
Fo
rmal
red
uct
ion
s o
f ap
pro
pri
atio
n r
even
ue
-
-
-
- -
Dep
artm
enta
l ap
pro
pri
atio
n r
ecei
vab
le (
appro
pri
atio
n f
or
addit
ional
o
utp
uts
)
-
- -
- -
Pay
able
s –
GS
T p
ayab
le
-
-
-
- -
Un
dra
wn
, u
nla
pse
d a
dm
inis
tere
d a
pp
rop
riat
ion
s
2
0,8
65
,64
2
5
,90
5,7
32
3,0
43
,38
9
-
2
9,8
14
,762
Tota
l
2
0,8
65,6
42
5,9
05,7
32
3,0
43,3
89
104,5
50,9
42
134,3
65,7
05
397Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
Part
icu
lars
A
dm
inis
tere
d E
xp
ense
s D
epart
men
tal
To
tal
Ou
tco
me
1
Ou
tco
me
2
Ou
tco
me
3
Ou
tpu
ts
Yea
r en
ded
30
Ju
ne
20
04
(co
mp
ara
tiv
e p
erio
d)
$$
$$
$
Bal
ance
car
ried
fro
m p
revio
us
yea
r
6,6
09,7
29
307,7
15
60,6
35,3
66
4,2
66,0
00
71,8
18,8
10
Add/L
ess:
adju
stm
ents
to o
pen
ing b
alan
ces
9,2
69,8
10
-
(1
,485,0
00)
-
7,7
84,8
10
Add:
esti
mat
ed a
dm
inis
tere
d a
ppro
pri
atio
n l
apse
d 0
2-0
3
10,1
39,3
84
4,8
07,7
83
8,9
98,2
98
-
23,9
45,4
65
Adju
sted
bal
ance
car
ried
fro
m p
revio
us
yea
r
26,0
18
,923
5
,115
,49
8
6
8,1
48
,664
4
,266
,00
0
103,5
49,0
85
Appro
pri
atio
n A
ct (
No.1
) 20
03-0
4
356,7
34,0
00
67,8
64,0
00
544,6
33,0
00
2,4
75,0
01,0
00
3,4
44,2
32,0
00
App
rop
riat
ion
Act
(N
o.3
) 20
03
-04
1,3
42
,00
0
2
,412
,00
0
-
6
09
,00
0
4
,363
,00
0
Dep
artm
enta
l ad
just
men
ts b
y t
he
Fin
ance
Min
iste
r (A
ppro
pri
atio
n A
cts)
-
-
-
-
-
Adv
ance
to F
inan
ce M
inis
ter
-
-
-
-
-
Ref
un
ds
cred
ited
(F
MA
A s
30)
-
-
-
-
-
Appro
pri
atio
ns
to t
ake
acco
unt
of
reco
ver
able
GS
T (
FM
A s
30A
)
35,7
22,0
66
5,6
73,3
94
36,9
24,4
86
19,2
52,9
66
97,5
72,9
12
Annota
tions
to 'n
et a
ppro
pri
atio
ns'
(F
MA
A s
31)
-
-
-
5,7
76,9
42
5,7
76,9
42
Adju
stm
ent
of
appro
pri
atio
ns
on c
han
ge
of
enti
ty f
un
ctio
n (
FM
AA
s32)
-
-
-
-
-
Appro
pri
atio
n l
apse
d
(1
1,2
09,1
15)
(4
,695
,943
)
(6,7
67
,133
) -
(2
2,6
72,1
91)
Tota
l ap
pro
pri
atio
ns
avai
lable
for
pay
men
ts
408,6
07,8
74
76,3
68,9
49
642,9
39,0
17
2,5
04,9
05,9
08
3,6
32,8
21,7
48
Pay
men
ts m
ade
duri
ng t
he
yea
r (G
ST
incl
usi
ve)
370,2
96,7
79
7
2,1
42
,492
550,4
34,7
99
2,5
00,4
79,6
58
3,4
93,3
53,7
28
Appro
pri
atio
ns
cred
ited
to S
pec
ial
Acc
ounts
-
- -
- -
Bal
ance
car
ried
to
th
e n
ext
per
iod
38
,31
1,0
95
4,2
26
,457
92,5
04,2
18
4,4
26,2
50
139,4
68,0
20
1 U
nder
Sec
tion 3
1 o
f th
e F
inan
cial
Man
agem
ent
and A
ccounta
bil
ity A
ct 1
997 (
the
FM
A A
ct),
the
Min
iste
r fo
r F
inan
ce m
ay e
nte
r in
to a
net
app
rop
riat
ion
ag
reem
ent
wit
h a
n a
gen
cy
Min
iste
r. A
pp
rop
riat
ion
Act
s n
os
1 a
nd
3 (
for
the
ord
inar
y a
nn
ual
ser
vic
es o
f g
ov
ern
men
t) a
uth
ori
se t
he
sup
ple
men
tati
on
of
an a
gen
cy’s
annual
net
appro
pri
atio
n b
y a
mounts
rec
eived
in
ac
cord
ance
wit
h i
ts S
ecti
on 3
1 A
gre
emen
t e.
g. re
ceip
ts f
rom
char
gin
g f
or
goods
and s
ervic
es.
One
of
the
condit
ions
whic
h m
ust
be
sati
sfie
d u
nder
Sec
tion 3
1 o
f th
e F
MA
Act
in
ord
er f
or
an a
nnual
net
appro
pri
atio
n t
o b
e in
crea
sed l
awfu
lly i
n t
his
way
is
that
the
Agre
emen
t is
mad
e bet
wee
n t
he
Fin
ance
Min
iste
r an
d t
he
agen
cy M
inis
ter
or
by o
ffic
ials
ex
pre
ssly
del
egat
ed (
wher
e per
mit
ted)
or
auth
ori
sed b
y t
hem
. A
n a
gen
cy’s
Ch
ief
Exec
uti
ve
is t
aken
to b
e so
au
thori
sed.
A d
eleg
ate
of
the
Min
iste
r fo
r F
inan
ce a
nd a
dep
artm
enta
l off
icer
exec
ute
d t
he
Dep
artm
ent’
s S
ecti
on 3
1 A
gre
emen
t co
ver
ing t
he
per
iod f
rom
1 J
uly
1998 t
o 3
0 J
une
1999.
Whil
st t
he
Dep
artm
ent
oper
ated
and r
ecord
ed S
ecti
on 3
1 m
onie
s as
though a
val
id a
gre
emen
t ex
iste
d,
the
FaC
S s
ignat
ory
did
not
hav
e ex
pre
ss d
eleg
atio
n o
r au
thori
ty f
or
signin
g t
he
Agre
emen
t, w
ith
the
resu
lt t
hat
th
e D
epar
tmen
t’s
Sec
tio
n 3
1 A
gre
emen
t w
as i
nef
fect
ive
and
th
e D
epar
tmen
t d
id n
ot
hav
e co
ntr
ol
ov
er S
ecti
on
31
mo
nie
s.
A d
eleg
ate
of
the
Min
iste
r fo
r F
inan
ce a
nd a
dep
artm
enta
l off
icer
exec
ute
d t
he
Dep
artm
ent’
s S
ecti
on 3
1 A
gre
emen
t co
ver
ing t
he
per
iod f
rom
1 J
uly
1999 t
o 3
0 S
epte
mb
er 2
004. W
hil
st t
he
Dep
artm
ent
op
erat
ed a
nd
rec
ord
ed S
ecti
on
31
mo
nie
s as
tho
ug
h a
val
id a
gre
emen
t ex
iste
d,
the
Fin
ance
sig
nat
ory
did
no
t h
ave
exp
ress
del
egat
ion o
r au
tho
rity
for
signin
g t
he
Agre
emen
t.
This
mea
ns
that
the
Dep
artm
ent’
s S
ecti
on 3
1 A
gre
emen
t is
consi
der
ed t
o b
e in
effe
ctiv
e w
ith t
he
resu
lt t
hat
the
Dep
artm
ent
did
not
hav
e a
val
id a
uth
ori
ty t
o s
pen
d S
ecti
on 3
1 r
ecei
pts
. In
the
2001-0
2 f
inan
cial
yea
r th
is r
esu
lted
in a
contr
aven
tion o
f s8
3 o
f th
e C
onst
ituti
on.
398 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
Th
e D
epar
tmen
t’s
curr
ent
Sec
tio
n 3
1 A
gre
emen
t w
as m
ade
on
1 O
ctob
er 2
00
4 b
etw
een
th
e M
inis
ter
for
Fam
ily
an
d C
om
mu
nit
y S
erv
ices
an
d t
he
Min
iste
r fo
r F
inan
ce a
nd A
dm
inis
trat
ion.
Ack
now
ledgin
g t
he
inef
fect
iven
ess
of
the
pri
or
agre
emen
t, t
he
Ch
ief
Ex
ecuti
ve
Off
icer
of
the
Dep
artm
ent
of
Fin
ance
an
d A
dm
inis
trat
ion v
arie
d t
his
agre
emen
t on
24 J
une
2005, w
ith e
ffec
t fr
om
30 J
une
2005,
to c
aptu
re r
etro
spec
tivel
y a
ll m
onie
s th
at w
ere
subje
ct t
o t
he
pri
or
agre
emen
t.
It s
hould
be
note
d t
hat
th
e m
ajori
ty o
f th
e se
ctio
n 3
1 r
ecei
pts
that
wer
e sp
ent
wit
hout
the
appro
pri
ate
del
egat
ion i
n p
rior
per
iods
rela
te t
o c
ost
rec
over
y r
even
ue
rece
ived
by C
om
monw
ealt
h
Reh
abil
itat
ion S
ervic
es (
CR
S)
Aust
rali
a, w
hen
th
ey w
ere
par
t of
the
FaC
S P
ort
foli
o. C
RS
Aust
rali
a w
as t
ransf
erre
d t
o t
he
Dep
artm
ent
of
Hea
lth a
nd A
gei
ng P
ort
foli
o f
rom
1 J
uly
2003.
Acc
ord
ingly
:
- am
ou
nts
dis
clo
sed
in
pre
vio
us
fin
anci
al y
ears
as
avai
lab
le f
or
spen
din
g u
nd
er t
he
dep
artm
enta
l o
utp
uts
ap
pro
pri
atio
ns
up
to
30
Jun
e 2
005
wer
e ov
erst
ated
by $
143
,855
,94
2;
- of
this
am
ount,
$109,9
68,9
42 w
as u
nsp
ent
as a
t 30 J
une
2004 a
nd w
as i
nco
rrec
tly r
efle
cted
in t
he
bal
ance
bro
ught
forw
ard t
o 1
July
2004;
- th
e 30 J
une
2005 v
aria
tion t
o o
ur
agre
emen
t in
crea
sed o
ur
appro
pri
atio
n b
y t
he
amount
of
inval
id r
ecei
pts
, bei
ng $
148,1
96,5
42;
- of
this
am
ount,
$33,8
87,0
00 i
s not
avai
lable
as
it h
as a
lrea
dy b
een s
pen
t in
pri
or
per
iods.
A y
ear
by
yea
r an
aly
sis
of
ov
erst
atem
ent
of
the
dep
artm
enta
l o
utp
ut
app
rop
riat
ion
s an
d o
ver
spen
din
g s
ince
th
e in
tro
du
ctio
n o
f th
e ac
cru
al a
pp
rop
riat
ion
fra
mew
ork
is
giv
en b
elo
w.
1998
-99
T
ota
l p
re-a
ccru
al
bu
dg
etin
g
1999
-00
2
000
-01
2
001
-02
2
002
-03
2
003
-04
T
ota
l 2
004
-05
T
ota
l
Rec
eipts
aff
ecte
d
1,3
46,0
00
1
,346
,00
0
3
9,3
41
,000
4
5,5
33
,000
4
5,0
56
,000
8
,149
,00
0
5,7
76
,94
2
143,8
55,9
42
4
,340
,60
0
148,1
96,5
42
Un
spen
t
1,3
46
,00
0
1,3
46
,00
0
3
9,3
41
,000
4
5,5
33
,000
1
1,1
69
,000
8
,149
,00
0
5,7
76
,94
2
109,9
68,9
42
4
,340
,60
0
114,3
09,5
42
Am
ou
nt
spen
t w
ithout
appro
pri
atio
n-
- -
- 3
3,8
87
,000
-
- 3
3,8
87
,000
- 3
3,8
87
,000
2 T
his
am
ount
repre
sents
rec
eipts
of
$148,1
96
,542 a
ppro
pri
ated
by t
he
var
iati
on o
f 30 J
une
2005,
less
the
amount
spen
t pri
or
to 2
004
-05
of
$3
3,8
87
,000
.
399Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 2
7B
: A
cqu
itta
l o
f A
uth
ori
ty t
o D
raw
Cas
h f
rom
th
e C
on
soli
dat
ed R
even
ue
Fu
nd
fo
r O
ther
th
an O
rdin
ary
An
nu
al S
erv
ices
Ap
pro
pri
atio
ns
Pa
rtic
ula
rsA
dm
inis
tered
N
on
-op
era
tin
gT
ota
l
Ou
tco
me
1
Ou
tco
me
2
Ou
tco
me
3
SPPs
NAE
SPPs
NAE
SPPs
NAE
Equi
tyLo
ans
Prev
ious
yea
rs'
outp
uts
Adm
in a
sset
s an
d lia
bilit
ies
Yea
r en
ded
30 J
un
e 2005
$
$$
$$
$$
$$
$$
Bal
ance
car
ried
fro
m p
rev
iou
s y
ear
3
0,0
00
-
-
-
-
-
-
-
-
-
3
0,0
00
Red
uct
ion
of
app
rop
riat
ion
s (p
rio
r y
ears
)1
-
-
24
,32
5
- -
- -
- -
-
24
,32
5
Adj
uste
d ba
lanc
e ca
rrie
d fr
om
prev
ious
per
iod
3
0,0
00
-
2
4,3
25
-
-
-
-
-
-
-
5
4,3
25
Ap
pro
pri
atio
n A
ct (
No
.2)
20
04
-
20
05
1
1,0
11
,00
0
-
1
,39
2,9
96
,00
0
-
5
70
,185
,00
0
-
5
20
,000
-
-
-
1
,97
4,7
12
,00
0
Ap
pro
pri
atio
n A
ct (
No
.4)
20
04
-
20
05
-
-
-
-
5
53
,000
-
1
30
,000
-
-
-
6
83
,000
Dep
artm
enta
l A
dju
stm
ents
an
d
Bo
rro
win
gs
-
-
-
-
-
-
-
-
-
-
-
Ad
van
ce t
o t
he
Fin
ance
Min
iste
r -
-
-
-
-
-
-
-
-
-
-
Ad
just
men
t o
f ap
pro
pri
atio
ns
on
ch
ang
e o
f en
tity
fu
nct
ion
(F
MA
A
s32
) -
-
-
-
-
-
-
-
-
-
-
Ref
un
ds
cred
ited
(n
et)
(FM
AA
s3
0)
-
-
-
-
-
-
-
-
-
-
-
Ap
pro
pri
atio
ns
lapse
d
(2
,52
5)
-
(8
4,8
59
,278
)
-
(65
5,4
20
)
-
-
-
-
-
(85
,51
7,2
23
)
Ap
pro
pri
atio
n r
edu
ced
by a
sec
tio
n
11
det
erm
inat
ion
(cu
rren
t yea
r)
-
- -
- -
- -
- -
- -
Su
b-t
ota
l 2
00
4 -
05
An
nu
al
Ap
pro
pri
atio
n
11
,03
8,4
75
-
1
,30
8,1
61
,04
7
-
5
70
,082
,58
0
-
6
50
,000
-
-
-
1
,88
9,9
32
,10
2
Ap
pro
pri
atio
ns
to t
ake
acco
un
t o
f re
cov
erab
le G
ST
(F
MA
A s
30
A)
8
,85
0
-
1
,41
1,3
64
-
-
-
-
-
-
-
1
,42
0,2
14
To
tal
app
rop
riat
ion
s av
aila
ble
fo
r p
aym
ents
11
,04
7,3
25
-
1
,30
9,5
72
,41
1
-
5
70
,082
,58
0
-
6
50
,000
-
-
-
1
,89
1,3
52
,31
6
Cas
h p
aym
ents
mad
e d
uri
ng
th
e yea
r (G
ST
incl
usi
ve)
10
,98
2,6
07
-
1,3
09
,572
,41
1
-
56
5,2
29
55
1
-
65
0,0
00
- -
-
1,8
86
,434
,56
9
Ap
pro
pri
atio
ns
cred
ited
to
Sp
ecia
l A
cco
un
ts (
GS
T e
xcl
usi
ve)
-
- -
- -
- -
- -
- -
Bal
ance
of
Au
tho
rity
to
Dra
w C
ash
fr
om
th
e C
RF
fo
r O
ther
Th
an
Ord
inar
y A
nn
ual
Ser
vic
es
Ap
pro
pri
atio
ns
6
4,7
18
-
-
-
4
,85
3,0
29
-
-
-
-
-
4
,91
7,7
47
Repr
esen
ted
by:
No
t d
raw
n f
rom
th
e O
PA
64
,71
8
-
-
-
4
,85
3,0
29
-
-
-
-
-
4
,91
7,7
47
To
tal
6
4,7
18
-
-
-
4
,85
3,0
29
-
-
-
-
-
4,9
17
,747
400 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
Pa
rtic
ula
rsA
dm
inis
tered
N
on
-op
era
tin
gT
ota
l
Ou
tco
me
1
Ou
tco
me
2
Ou
tco
me
3
SPPs
N
ew
SPPs
N
ew
SPPs
N
ew
Equi
ty
Loan
s Pr
evio
us y
ears
' ou
tput
sAd
min
ass
ets
and
liabi
litie
s Y
ear
end
ed 3
0 J
un
e 2004
(Co
mp
ara
tiv
e P
erio
d)
$
$$
$$
$$
$$
$$
Bal
ance
car
ried
fro
m p
rev
iou
s y
ear
3
5,8
88
-
-
-
10,1
47,5
59
-
-
-
-
-
10,1
83,4
47
Ap
pro
pri
atio
n A
ct (
No
.2)
20
03
-04
9,8
96
,000
-
1
,33
9,1
16
,00
0
-
5
48
,738
,00
0
-
6
8,0
00
-
-
-
1
,89
7,8
18
,00
0
Ap
pro
pri
atio
n A
ct (
No
.4)
20
03
-04
52
9,0
00
-
-
-
1
0,2
29
,00
0
-
8
57
,000
-
-
-
1
1,6
15
,00
0
Adju
stm
ents
by t
he
Fin
ance
Min
iste
r
-
-
-
-
-
-
-
-
-
-
-
Advan
ce t
o t
he
Fin
ance
Min
iste
r
-
-
-
-
-
-
-
-
-
-
-
Ref
unds
cred
ited
(F
MA
s30)
-
-
-
-
-
-
-
-
-
-
-
Ap
pro
pri
atio
ns
to t
ake
acco
un
t o
f re
cov
erab
le G
ST
(F
MA
A s
30
A)
1
7,9
44
-
-
-
-
-
9
2,5
00
-
-
-
1
10
,444
An
no
tati
on
s to
'net
ap
pro
pri
atio
ns'
(F
MA
A s
31
) -
-
-
-
-
-
-
-
-
-
-
Oth
er c
ash a
dju
stm
ents
-
-
-
-
-
-
-
-
-
-
-
Ad
just
men
t o
f ap
pro
pri
atio
ns
on
ch
ang
e o
f en
tity
fu
nct
ion
(F
MA
A
s32
) -
-
-
-
-
-
-
-
-
-
-
Ap
pro
pri
atio
n l
apse
d
(5
,26
0)
-
(5
1,2
81
,344
)
-
-
-
-
-
-
-
(51
,28
6,6
04
)
To
tal
app
rop
riat
ion
av
aila
ble
fo
r p
aym
ents
10
,47
3,5
72
-
1
,28
7,8
34
,65
6
-
5
69
,114
,55
9
-
1
,01
7,5
00
-
-
-
1
,86
8,4
40
,28
7
Cas
h p
aym
ents
mad
e d
uri
ng
th
e yea
r (G
ST
incl
usi
ve)
10
,44
3,5
72
-
1,2
87
,834
,65
6
-
56
9,1
14
,55
9
-
1,0
17
,500
- -
-
1,8
68
,410
,28
7
Ap
pro
pri
atio
ns
cred
ited
to
Sp
ecia
l A
cco
un
ts-
- -
- -
- -
- -
- -
Bal
ance
car
ried
to
th
e n
ext
yea
r
3
0,0
00
-
-
-
-
-
-
-
-
-
30
,00
0
401Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
Note 27C: Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Special Appropriations (Unlimited Amount)
Legislation: Social Security Act2005 2004
Outcome 1
$ $
Purpose: to enable the payment of income support paymentsAll transactions under this Act are recognised as administered items.
Cash payment made during the year - 2,669,954,000
Budget estimate 1,039,290,068 2,811,766,507
FaCS is responsible for the administration of payments made under the Social Security Act, however, Centrelink has made payments under drawing rights of $904,196,000 on behalf of FaCS.
Legislation: Social Security Act2005 2004
Outcome 3
$ $
Purpose: to enable the payment of income support paymentsAll transactions under this Act are recognised as administered items.
Cash payment made during the year - 41,171,551,000
Budget estimate 30,145,046,020 41,686,489,643
FaCS is responsible for the administration of payments made under the Social Security Act, however, Centrelink has made payments under drawing rights of $28,985,599,000 on behalf of FaCS and the Department of Veteran’s Affairs has made payments under drawing rights of $59,738,000 on behalf of FaCS.
Legislation: Childcare Rebate Act 19932005 2004
Outcome 1
$ $
Purpose: to enable the provision of a rebate relating to the provision of child care for dependant children of registered familiesAll transactions under this Act are recognised as administered items.
Cash payment made during the year - -
Budget estimate - 2,524
Legislation: Child Support (Registration and Collection) Act 19882005 2004
Outcome 1
$ $
Purpose: to enable payments to be made to cover shortfalls in the Child Support Trust AccountAll transactions under this Act are recognised as administered items.
Cash payment made during the year 28,811,000 90,765,000
Budget estimate - 87,833,315
Legislation: A New Tax System (Family Assistance) (Administration) Act 19992005 2004
Outcome 1
$ $
Purpose: to enable the payment of family assistance to support familiesAll transactions under this Act are recognised as administered items.
Cash payment made during the year - 13,070,817,000
Budget estimate 15,868,415,613 14,750,757,246
FaCS is responsible for the administration of payments made under the Social Security Act, however, Centrelink has made payments under drawing rights of $14,905,954,000 on behalf of FaCS.
402 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
Legislation: A New Tax System (Bonuses for Older Australians) Act 19992005 2004
Outcome 3
$ $
Purpose: to enable special one-off payments to pensioners and self-funded retirees to protect the value of their savings and retirement income after the implementation of the GST Tax Reform packageAll transactions under this Act are recognised as administered items.
Cash payment made during the year - -
Budget estimate 95,004 181,645
Legislation: State Grants (Housing) Act 19712005 2004
Outcome 2
$ $
Purpose: To provide to states and territories grants for the purposes of housingAll transactions under this Act are recognised as administered items.
Cash payment made during the year - -
Budget estimate - -
Totals for unlimited special appropriations
Payments made 28,811,000 57,003,087,000
Budget estimate 47,052,846,705 59,337,030,880
Note 27D: Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Special Appropriations (Limited Amount)
Legislation: Appropriations (Supplementary Measures) Act (No.1) 1999 2005 2004 1
Outcome 2
$ $
Purpose: To provide Supported Accommodation Assistance (Administered)
Balance carried from previous period 60,000,000 45,000,000
Appropriation for reporting period - 15,000,000
Available for payments 60,000,000 60,000,000
Appropriation lapsed - -
Payments made - -
Balance carried to the next period 60,000,000 60,000,000
Represented by:
Cash - -
Total - -
This amount was appropriated and paid under Appropriation Act No. 2 and the amount shown above will lapse.
403Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
Note 27E: Special Accounts
Child Support Trust Account (Administered)
Legal Authority: Section 73 Child Support Act 1988Appropriation: Financial Management and Accountability Act 1997: s21Purpose: for the receipt of maintenance payments and the making of regular and timely payments to custodial parents This account was transferred to DHS 16 December 2004
2005 2004
$ $
Balance carried from previous year 28,742,967 28,424,833
Appropriation Act (No. 2) 2004-2005 454,753,293 -
Other revenue for reporting period - 755,153,574
Available for payments 483,496,260 783,578,407
Payments made to suppliers (483,496,260) (754,835,440)
Balance carried to next year - 28,742,967
Represented by:Cash - 28,742,967
Total - 28,742,967
The Department transferred responsibility for the Child Support Agency to the Department of Human Services in December 2004 and no longer administers this account.
Other Trust Monies (Administered)
Legal Authority: Section 20 of the Financial Management and Accountability Act 1997Purpose: for the receipt of unreconciled monies from clients
2005 2004
$ $
Balance carried from previous year - -
Available for payments - -
Payments made to suppliers - -
Balance carried to next year - -
Represented by:Cash - -
Total - -
Social Security - Services for Other Government and Non-Government Bodies (Administered)
Legal Authority: Section 20 of the Financial Management and Accountability Act 1997Purpose: for services relating to specific Government and Non-Government bodies
2005 2004
$ $
Balance carried from previous year 381,608 372,895
Appropriation Act (No. 2) 2003-04 - -
Previous year adjustments 18,182 -
Other revenue for reporting period - 813,525
Available for payments 399,790 1,186,420
Payments made to suppliers (1,751) (804,812)
Balance carried to next year 398,039 381,608
Represented by:Cash 398,039 381,608
Total 398,039 381,608
404 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
Other Services – Services for Other Government and Non-Government Bodies (Administered)
Legal Authority: Financial Management and Accountability Act 1997Purpose: for expenditure in connection with services performed on behalf of other Governments and bodies that are not FMA agencies.
2005 2004
$ $
Balance carried from previous year - -
Restructuring 152,721 -
Available for payments 152,721 -
Payments made to suppliers (60,087) -
Balance carried to next year 92,634 -
Represented by:Cash 92,634 -
Total 92,634 -
Commonwealth State Disability Agreement Reserve (Administered)
Legal Authority: Section 20 of the Financial Management and Accountability Act 1997Purpose: for expenditure on projects which relate to the Commonwealth/State Disability research and development agenda
2005 2004
$ $
Balance carried from previous year 1,023,008 415,628
Previous year adjustment 1,783 -
Other revenue for reporting period 221,404 780,380
Available for payments 1,246,195 1,196,008
Payments made to suppliers (221,573) (173,000)
Balance carried to next year 1,024,622 1,023,008
Represented by:Cash 1,024,622 1,023,008
Total 1,024,622 1,023,008
Child Care Capital Replacement and Upgrade Program Trust Account (Administered)
Legal Authority: Please refer to Note 1 Section 1.20 for detailsPurpose: to receive and hold money arising from the sale of Commonwealth funded childcare centres until such time as that money may be reinvested into the building of a new childcare centre or another project funded under the capital replacement and upgrade
2005 2004
$ $
Balance carried from previous year - 449,266
Available for payments - 449,266
Payments returned to the OPA - (449,266)
Balance carried to next year - -
Represented by:Cash transferred to the Official Public Account - -
Cash – held by the agency - -
Total - -
405Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
Notes to and forming part of the Financial Statements
Victorian Outside School Care Official Trust Account
Legal Authority: Please refer to Note 1 Section 1.20 for detailsPurpose: the receipt of monies contributed by the Victorian State Government for the administration of outside school hours care
2005 2004
$ $
Balance carried from previous year - 5,752,931
Available for payments - 5,752,931
Payments made to OPA - (5,752,931)
Balance carried to next year - -
Represented by:Cash transferred to the Official Public Account - -
Total - -
Supported Accommodation Assistance Program R&D Special Account (Administered)
Legal Authority: Section 20 of the Financial Management and Accountability Act 1997Purpose: the receipt of monies for the National Date Collection, national evaluations, national committees and research projects under FaCS' Supported Accommodation Assistance Program
2005 2004
$ $
Balance carried from previous year 1,208,630 1,872,478
Other revenue for reporting period 2,340,000 2,300,000
Available for payments 3,548,630 4,172,478
Payments made to suppliers (2,400,414) (2,963,848)
Balance carried to next year 1,148,216 1,208,630
Represented by:Cash transferred to the Official Public Account 1,148,216 1,208,630
Total 1,148,216 1,208,630
National Youth Affairs Research Scheme (Administered)
Legal Authority: Section 20 of the Financial Management and Accountability Act 1997Purpose: for the receipt of monies from State Governments to meet expenditure in respect of the National Youth Affairs Research Scheme
2005 2004
$ $
Balance carried from previous year 719,947 889,670
Previous year adjustment (260,132) -
Other revenue for reporting period 255,768 240,000
Available for payments 715,583 1,129,670
Payments made to suppliers (251,246) (409,723)
Balance carried to next year 464,337 719,947
Represented by:Cash transferred to the Official Public Account 464,337 719,947
Total 464,337 719,947
406 FaCS Annual Report 2004–05
Notes to and forming part of the Financial Statements
Note 28: Assets Held in Trust
This account holds monies advanced to The Department of Family and Community Services by Comcare for the purpose of distributing compensation payments made in accordance with the Safety Rehabilitation and Compensation Act 1998. Where Department of Family and Community Services makes payments against accrued sick leave entitlements pending determination of an employee's claim, permission is obtained in writing from each individual to allow Department of Family and Community Services to recover the payments from the monies in the account.
2005
$'000
2004 $'000
Balance carried forward from previous year 1,547 1,529 Receipts during the year 505 274 Available for payments 2,052 1,803 Payments made 1,943 256 Balance carried forward to next year held by the entity 109 1,547
Note 29: Specific Payment Disclosures 2005
$
2004$
Administered
273 'Act of Grace' expenses were incurred during the reporting period. (2004: 147 payments made) 372,292 173,777 228 of the above expenses amounting to $105,968 were paid on a periodic basis (2004: 119 payments amounting to $49,081). Both are expected to continue in future years. The estimated amount outstanding in relation to payments being made on a periodic basis as at 30 June 2005 was $213,325 ($189,291 at 30 June 2004).
11 waivers of amounts owing to the Commonwealth were made pursuant to subsection 34(1) of the Financial Management and Accountability Act 1997 (2004: 12 waivers). 482,150 26,127
511,861 waivers of amounts owing to the Commonwealth were made pursuant to s1237 of the Social Security Act (2004: 797,487 waivers). 42,626,283 58,654,668
1,089 ex-gratia payments were provided for during the reporting period (2004: 1,784 payments). 1,007,924 3,039,166 Ex-gratia programs provide financial assistance to victims of national and international disasters.
3 payments made under the 'Defective Administration Scheme' (2004: 26 payments). 6,213 36,671
Departmental
Nil payments were made under the 'Defective Administration Scheme' during the reporting period (2004: nil payments). Nil Nil
Nil payments were made under s73 of the Public Service Act 1999 during the reporting period (2004: 2 payments). Nil 20,500
407Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 3
0:
Rep
ort
ing
of
Ou
tco
mes
No
te 3
0A
: N
et C
ost
of
Ou
tco
me
Del
iver
y
Ou
tco
me
1O
utc
om
e 2
Ou
tco
me
3T
ota
l
2005
2004
2005
2004
2005
2004
2005
2004
$
'00
0$
'000
$'0
00
$'0
00
$'0
00
$'0
00
$'0
00
$'0
00
Ad
min
iste
red
ex
pen
ses
1
6,8
25
,910
2
0,4
73
,230
1
,585
,74
3
1
,355
,61
2
3
0,4
89
,967
4
3,1
41
,515
4
8,9
01
,620
6
4,9
70
,357
Dep
artm
enta
l ex
pen
ses
1
,003
,86
2
1
,102
,50
3
1
10
,74
9
60,2
82
1
,200
,63
5
1
,320
,46
7
2
,315
,24
6
2
,483
,25
2
Tota
l exp
ense
s
17,8
29
,772
2
1,5
75
,733
1
,696
,49
2
1
,415
,89
4
3
1,6
90
,602
4
4,4
61
,982
5
1,2
16
,866
6
7,4
53
,609
Cos
ts re
cove
red
from
pro
visio
n of
goo
ds a
nd
serv
ices
to th
e no
n-go
vern
men
t sec
tor
Ad
min
iste
red
-
- -
- -
- -
-
Dep
artm
enta
l
1,0
27
2
53
3
42
1
00
1
,328
2
44
2
,697
5
97
Tota
l cos
ts re
cove
red
1
,027
2
53
3
42
1
00
1
,328
2
44
2
,697
5
97
Inte
rest
on
lo
ans
1
3
2
4
1
1
0
3
09
3
18
3
23
3
52
Oth
er
3
99
,11
7
8
86
,67
9
9
,716
2
,345
90,1
82
1
08
,82
5
4
99
,01
5
9
97
,84
9
Tota
l Adm
inis
tere
d
399,
130
88
6,70
3
9,71
7
2,35
5
90,4
91
109,
143
49
9,33
8
998,
201
Inte
rest
on c
ash d
eposi
ts
2
1
3
- -
- -
2
1
3
Rev
enue
from
dis
posa
l of
asse
ts
1
1
6
- 7
1
1
6
2
3
9
Oth
er e
xte
rnal
rev
enu
es
1
,460
9
83
4
84
3
06
1
,879
7
40
3
,823
2
,029
Tota
l Dep
artm
enta
l
1,46
3
1,01
2
484
31
3
1,88
0
756
3,
827
2,
081
Tota
l oth
er e
xter
nal r
even
ues
4
00
,59
3
8
87
,71
5
10,2
01
2
,668
92,3
71
1
09
,89
9
5
03
,16
5
1
,000
,28
2
Net
cos
t/(co
ntri
butio
n) o
f out
com
e
17,4
28
,152
2
0,6
87
,765
1
,685
,94
9
1
,413
,12
6
3
1,5
96
,903
4
4,3
51
,839
5
0,7
11
,004
6
6,4
52
,730
408 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 3
0B
: M
ajo
r C
lass
es o
f D
epar
tmen
tal
Rev
enu
es a
nd
Ex
pen
ses
by
Ou
tpu
t G
rou
ps
and
Ou
tpu
ts
Ou
tco
me
1
Ou
tpu
t G
rou
p 1
.1
Ou
tpu
t G
rou
p 1
.2
Ou
tpu
t G
rou
p 1
.3
2005
2004
2005
2004
2
005
2004
$'0
00
$'0
00
$'0
00
$'0
00
$
'00
0$
'000
Dep
art
men
tal
exp
ense
s
Em
plo
yee
s
22,4
95
32,9
04
17,1
68
13,2
80
82,8
84
1
60
,30
6
Suppli
ers
16,8
79
25,5
37
12,8
82
10,4
10
44,9
82
89,9
81
Dep
reci
atio
n a
nd a
mort
isat
ion
1
,123
1
,964
8
57
7
83
3
,986
7
,948
Oth
er e
xp
ense
s
402
,91
9
4
00
,18
2
2
17
,28
8
2
33
,17
9
11,6
82
6
68
Tota
l dep
artm
enta
l exp
ense
s
443
,41
6
4
60
,58
7
2
48
,19
5
2
57
,65
2
1
43
,53
4
2
58
,90
3
Fu
nd
ed b
y:
Rev
enu
es f
rom
go
ver
nm
ent
4
82
,03
3
4
59
,95
4
2
52
,05
0
2
57
,45
3
1
36
,53
5
2
58
,71
2
Sal
e of
goods
and s
ervic
es
3
96
3
66
3
02
1
45
28
8
Oth
er n
on
-tax
atio
n r
even
ues
560
2
20
4
28
87
48
2
28
Tota
l dep
artm
enta
l rev
enue
s
482
,98
9
4
60
,54
0
2
52
,78
0
2
57
,68
5
1
36
,61
1
2
58
,94
8
Ou
tco
me
1 (
con
tin
ued
) O
utp
ut
Gro
up
1.4
O
utc
om
e 1
Tota
l
2005
2004
2005
2004
$
'00
0$
'000
$'0
00
$'0
00
Dep
art
men
tal
exp
ense
s
Em
plo
yee
s
17,1
39
11,6
81
1
39
,68
6
2
18
,17
1
Suppli
ers
12,8
60
8
,926
87,6
03
1
34
,85
4
Dep
reci
atio
n a
nd a
mort
isat
ion
8
56
7
09
6
,822
11,4
04
Oth
er e
xp
ense
s
137
,86
2
1
04
,04
5
7
69
,75
1
7
38
,07
4
Tota
l dep
artm
enta
l exp
ense
s
168
,71
7
1
25
,36
1
1
,003
,86
2
1
,102
,50
3
Fu
nd
ed b
y:
Rev
enu
es f
rom
go
ver
nm
ent
1
44
,07
2
1
25
,09
1
1
,014
,69
0
1
,101
,21
0
Sal
e of
goods
and s
ervic
es
3
01
1
33
1
,027
6
52
Oth
er n
on
-tax
atio
n r
even
ues
427
80
1
,463
6
15
Tota
l dep
artm
enta
l rev
enue
s
144
,80
0
1
25
,30
4
1
,017
,18
0
1
,102
,47
7
409Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
Ou
tco
me
2
Ou
tpu
t G
rou
p 2
.1
Ou
tpu
t G
rou
p 2
.2
Ou
tco
me
2 T
ota
l
2005
2004
2
005
2004
2005
2004
$
'00
0$
'000
$
'00
0$
'000
$'0
00
$'0
00
Dep
art
men
tal
exp
ense
s
Em
plo
yee
s
8,2
52
5
,500
11,1
71
17,1
76
19,4
23
22,6
76
Suppli
ers
6
,191
4
,241
8
,382
13,1
25
14,5
73
17,3
66
Dep
reci
atio
n a
nd a
mort
isat
ion
4
12
3
31
5
58
1
,043
9
70
1
,374
Oth
er e
xp
ense
s
28,9
08
1
,284
46,8
75
17,5
82
75,7
83
18,8
66
Tota
l dep
artm
enta
l exp
ense
s
43,7
63
11,3
56
66,9
86
48,9
26
1
10
,74
9
60,2
82
Fu
nd
ed b
y:
Rev
enu
es f
rom
go
ver
nm
ent
21,0
53
11,2
04
38,7
60
48,4
49
59,8
13
59,6
53
Sal
e of
goods
and s
ervic
es
1
45
62
1
97
1
96
3
42
2
58
Oth
er n
on
-tax
atio
n r
even
ues
206
37
2
78
1
18
4
84
1
55
Tota
l dep
artm
enta
l rev
enue
s
21,4
04
11,3
03
39,2
35
48,7
63
60,6
39
60,0
66
Ou
tco
me
3
Ou
tpu
t G
rou
p 3
.1
Ou
tpu
t G
rou
p 3
.2
Ou
tpu
t G
rou
p 3
.3
2005
2004
2005
2004
2
005
2004
$'0
00
$'0
00
$'0
00
$'0
00
$
'00
0$
'000
Dep
art
men
tal
exp
ense
s
Em
plo
yee
s
32,5
62
28,0
09
30,5
28
21,7
08
2
,953
1
,823
Suppli
ers
24,4
32
22,1
95
22,9
06
17,1
74
2
,216
1
,550
Dep
reci
atio
n a
nd a
mort
isat
ion
1
,625
1
,631
1
,524
1
,267
1
47
97
Oth
er e
xp
ense
s
565
,81
3
6
95
,02
0
2
71
,04
0
2
56
,22
7
33,0
67
26,9
69
Tota
l dep
artm
enta
l exp
ense
s
624
,43
2
7
46
,85
5
3
25
,99
8
2
96
,37
6
38,3
83
30,4
39
Fu
nd
ed b
y:
Rev
enu
es f
rom
go
ver
nm
ent
6
81
,72
9
7
46
,59
2
2
95
,34
5
2
95
,98
6
37,6
45
30,4
22
Sal
e of
goods
and s
ervic
es
5
73
3
01
5
37
2
34
52
17
Oth
er n
on
-tax
atio
n r
even
ues
811
1
79
7
60
1
39
74
10
Tota
l dep
artm
enta
l rev
enue
s
683
,11
3
7
47
,07
2
2
96
,64
2
2
96
,35
9
37,7
71
30,4
49
410 FaCS Annual Report 2004–05
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
Ou
tco
me
3 (
con
tin
ued
) O
utp
ut
Gro
up
3.4
O
utc
om
e 3
Tota
l
2005
2004
2005
2004
$
'00
0$
'000
$'0
00
$'0
00
Dep
art
men
tal
exp
ense
s
Em
plo
yee
s
9,4
51
6
,871
75,4
94
58,4
11
Suppli
ers
7
,092
5
,447
56,6
46
46,3
66
Dep
reci
atio
n a
nd a
mort
isat
ion
4
72
4
00
3
,768
3
,395
Oth
er e
xp
ense
s
194
,80
7
2
34
,07
9
1
,064
,72
7
1
,212
,29
5
Tota
l dep
artm
enta
l exp
ense
s
211
,82
2
2
46
,79
7
1
,200
,63
5
1
,320
,46
7
Fu
nd
ed b
y:
Rev
enu
es f
rom
go
ver
nm
ent
2
38
,35
5
2
46
,77
6
1
,253
,07
4
1
,319
,77
6
Sal
e of
goods
and s
ervic
es
1
66
74
1
,328
6
26
Oth
er n
on
-tax
atio
n r
even
ues
235
44
1
,880
3
72
Tota
l dep
artm
enta
l rev
enue
s
238
,75
6
2
46
,89
4
1
,256
,28
2
1
,320
,77
4
411Part 5 | Financial statements 2004–05
Part
5 |
Fina
ncia
l sta
tem
ents
No
tes
to a
nd
fo
rmin
g p
art
of
the
Fin
an
cia
l S
tate
men
ts
No
te 3
0C
: M
ajo
r C
lass
es o
f A
dm
inis
tere
d R
even
ues
an
d E
xp
ense
s b
y O
utc
om
es
Ou
tco
me
1
Ou
tco
me
2O
utc
om
e 3
To
tal
2005
2004
2005
2004
2005
2004
2005
2004
$'0
00
$'0
00
$'0
00
$'0
00
$'0
00
$'0
00
$'0
00
$'0
00
Ad
min
iste
red
Rev
enu
es
Rev
enu
es f
rom
Go
ver
nm
ent
1
9,6
58
,139
19,7
64
,511
1,6
01
,26
9
1,3
48
,32
2
28,9
12
,952
44,2
81
,540
50,1
72
,360
65,3
94
,373
Oth
er
3
99
,13
0
886
,70
4
9,7
17
2,3
55
90,4
91
109
,14
2
499
,33
8
998
,20
1
Tota
l Adm
inis
tere
d R
even
ues
2
0,0
57
,269
20,6
51
,215
1,6
10
,98
6
1,3
50
,67
7
29,0
03
,443
44,3
90
,682
50,6
71
,698
66,3
92
,574
Ad
min
iste
red
Exp
ense
s
Gra
nts
339
,14
9
328
,58
5
1,5
42
,67
0
1,3
11
,07
7
870
,00
1
905
,21
0
2,7
51
,82
0
2,5
44
,87
2
Su
bsi
die
s-
-
4,9
09
4,1
82
8,4
14
8,8
99
13,3
23
13,0
81
Per
son
al b
enef
its
1
5,9
33
,897
19,1
85
,676
26,8
90
34,9
01
29,5
39
,687
42,0
74
,456
45,5
00
,474
61,2
95
,033
Su
pp
lier
s
40,5
92
48,8
43
8,8
64
3,7
22
429
452
49,8
85
53,0
17
Oth
er
5
12
,27
2
910
,12
6
2,4
10
1,7
30
71,4
36
152
,49
8
586
,11
8
1,0
64
,35
4
Tota
l Adm
inis
tere
d Ex
pens
es
16,8
25
,910
20,4
73
,230
1,5
85
,74
3
1,3
55
,61
2
30,4
89
,967
43,1
41
,515
48,9
01
,620
64,9
70
,357
Recommended