Commonwealth Authorities and Companies Orders (Financial Statements for reporting periods ending on or after 30 June 2005) (Cth)

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Commonwealth Authorities and Companies Orders (Financial Statements for reporting periods ending on or after 30 June 2005)

I, NICK MINCHIN, Minister for Finance and Administration, make these Orders under subsection 48 (1) of the Commonwealth Authorities and Companies Act 1997.

Dated 10 February  2005

NICK MINCHIN

Minister for Finance and Administration

1Name of Orders

These Orders are the Commonwealth Authorities and Companies Orders (Financial Statements for reporting periods ending on or after 30 June 2005).

Notes:

·These Orders are in relation to preparation of financial statements.

·Other matters relating to Commonwealth Authorities are dealt with in other Orders made by the Minister under subsection 48 (1) of the Commonwealth Authorities and Companies Act 1997.

2Commencement

These Orders commence on gazettal.

3Financial statements for reporting periods ending on or after 30 June 2005

For sub item 2 (1) of Schedule 1 to the Commonwealth Authorities and Companies Act 1997, Schedule 1 sets out the requirements for the preparation of financial statements for the reporting periods ending on or after 30 June 2005.

Note:

Schedule 1 is identical to Schedule 1 to the Financial Management and Accountability Orders (Financial Statements for reporting periods ending on or after 30 June 2005). The purpose of having identical requirements is to achieve uniformity in financial reporting across the Australian Government public sector which will assist in the preparation of annual financial statements in relation to the Australian Government by the Finance Minister under section 55 of the Financial Management and Accountability Act 1997. Accordingly, certain terms, requirements and references contained in Schedule 1 to these Orders apply to Commonwealth Authorities and not to Agencies while other terms, requirements and references apply to Agencies and not to Commonwealth Authorities.

Schedule 1Requirements for the Preparation of the Financial Statements for the reporting periods ending on or after 30 June 2005.

Schedule 1: Requirements for the preparation of Financial Statements of Australian Government Entities (Black Letter Policy and Appendix A Only)

Table of Contents

Table of Contents

1A...... Commencement

1B...... Application

1C...... Certification

1D...... Exemptions

1E....... Rounding Off

1F....... Simplified Reporting

1G...... Materiality (new Policy)

2A...... Recognition of Appropriations

2B...... Departmental and Administered Items

2C...... Appropriations Disclosures

2D...... Reporting of Outcomes and Outputs

2E....... Special Accounts

3A...... Receivables

3B...... Internal Use Software

3C...... Non-Current Assets

3D...... Impairment of Non-Current

3E....... Analysis of Property, Plant and Equipment, and Intangibles

3F....... Restricted Assets

3G...... Assets Held in Trust

3H...... Sale of Administered Investments

3I........ Heritage And Cultural Assets

4A...... Contingent Liabilities and Contingent Assets

4B...... Commitments

5A...... Restructure

5B...... Analysis of Equity

6A...... Administered Reporting

6B...... Administered Investments

7A...... Compensation and Debt Relief in Special Circumstances (formerly Special Payments - Act of Grace, Ex Gratia, Waivers, CDDA and under section 73 of the Public Service Act 1999)

7B...... Director/Manager Remuneration

7C...... Remuneration of Auditors

APPENDIX A - FORMS OF FINANCIAL STATEMENTS, SCHEDULES AND NOTES:

Section 1: Commercial Reporting Entities

Section 2: Non-Commercial Reporting Entities

Section 3: Administered Reporting

1A   Commencement

Policy

1A.1Subject to Clause 1A.2 of this Policy, the requirements set out in this Schedule shall apply to financial statements prepared for reporting periods ending on or after 30 June 2004, unless amended.

1A.2For entities that cease to exist during a year:

(a)the financial reporting requirements set out in this Schedule shall apply if the date of cessation of activity is on or after the date of effect of this Schedule; or

(b)the financial reporting requirements set out in the previous Schedule shall apply if the date of cessation of activity is prior to the date of effect of this Schedule.

1B   Application

Policy

1B.1Financial statements must be prepared for the following entities:

(a)each Agency and Commonwealth authority;

(b)the economic entity, comprising the Agency or Commonwealth authority and its subsidiaries; and

(c)each activity or activities of an Agency which is/are determined to be a Business Operation.

1B.2The financial statements of each entity must comply with all applicable requirements of this Schedule and:

(a)include the primary statements, schedules and notes in the form prescribed in Appendix A of this Schedule, and a statement as required by Clause 1C.2 or 1C.3 of this Schedule;

(b)include all note disclosures specified in the Policies of this Schedule;

(c)comply with accounting standards and accounting interpretations that apply for the reporting period issued by:

(i) the Australian Accounting Standards Board (established under section 226 of the Australian Securities and Investment Commission Act 2001); and

(ii) the former Public Sector Accounting Standards Board, unless superseded by standards and interpretations of the Australian Accounting Standards Board;

(d)have regard to the Explanatory Notes to this Schedule;

(e)have regard to the Statements of Accounting Concepts (SACs);

(f)comply with Consensus Views issued by the Urgent Issues Group (UIG) that apply for the reporting period;

(g)where competitive neutrality (CN) payments are required under the Commonwealth Competitive Neutrality Policy Statement - June 1996, entities must separately report an explanation for CN payments, and the breakdown of these payments into:

CN - Regulatory Neutrality Payment

CN - Debt Neutrality Payment

CN - State Tax Equivalent Payment

CN – Commonwealth Tax Equivalent Payment

CN - Other Payment; and

(h)have regard to Estimates Memorandums, FinanceBriefs, Finance Circulars, Financial Management Guidances and other guidance/policies  issued by the Department of Finance and Administration.

1B.3The financial statements must be presented in the following order:

(a)Statement by the Chair of the Board, or Directors, Chief Executive and Chief Financial Officer as required by Clause 1C.2 or 1C.3 of this Schedule;

(b)primary statements (Statements of Financial Performance, Financial Position and Cash Flows);

(c)Schedules of Contingencies and Commitments;

(d)Schedule of Administered Items; and

(e)Notes to the Financial Statements, including Administered Notes.

1B.4Requirements in this Schedule should only be applied in the financial statements of the entity to the extent that they are relevant or applicable to a reporting period or comparative reporting period.

1B.5Unless specifically otherwise stated in this Schedule or an accounting standard, comparatives must be disclosed.

1B.6If an entity wishes to early adopt a new accounting standard it must seek approval from the Department of Finance and Administration due to the potential effect on the preparation of the Consolidated Financial Statements.

1B.7The requirements of this Schedule apply where information resulting from their application is material. Information is material if its omission, misstatement or non-disclosure has the potential to adversely affect:

(a)decisions about the allocation of scarce resources made by users of the entity’s financial report; or

(b)the discharge of accountability by the entity.

1C   Certification

Policy

1C.1The signed auditor’s report on the financial statements must be attached to the financial statements.

1C.2The certification of each economic entity, comprising a Commonwealth authority and its subsidiaries’ financial statements, must include a statement by the Chair of the Board, or Directors, and Chief Executive Officer as to:

(a)whether the financial statements, in their opinion, give a true and fair view of the matters required by this Schedule;

(b)whether the financial statements, in their opinion, have been prepared based on properly maintained financial records;

(c)whether or not, in their opinion, there are, when the statement is made, reasonable grounds to believe that the entity will be able to pay its debts as and when they fall due other than financial institutions which apply AAS 32 Specific Disclosures by Financial Institutions; and

(d)when additional information is required to be included in the notes to give a true and fair view, then the reasons for forming this view and the location of the additional notes in the financial statements.

The following elements must also be included in the certification:

(i)disclosure that the certification has been made in accordance with a resolution of the Directors;

(ii)the date on which the statement is made; and

(iii)the signature of the Chair of the Board, or Directors, and Chief Executive Officer.

1C.3The certification of each other entity required under Clause 1B.1 to prepare Financial Statements, must include a statement by the Chief Executive as to:

(a)whether the financial statements, in their opinion, give a true and fair view of the matters required by this Schedule;

(b)whether the financial statements, in their opinion, have been prepared based on properly maintained      financial records; and

(c)when additional information is required to be included in the notes to give a true and fair view, then the reasons for forming this view and the location of the additional notes in the financial statements.

The following elements must also be included in the certification:

(i)the date on which the statement is made; and

(ii)the signature of the Chief Executive.

1D     Exemptions

Policy

1D.1The Finance Minister may grant a written exemption to the Chief Executive of an Agency or Directors of a Commonwealth authority, as the case may be, from any specified requirements of this Schedule.

1D.2An exemption granted under Clause 1D.1 of this Policy may be granted subject to conditions, including a requirement for alternative forms of disclosure.

1D.3The Chief Executive or Directors must disclose the particulars of any exemption granted under this Policy in the notes to the financial statements.

1E     Rounding Off

Policy

1E.1Unless otherwise provided by this Policy, amounts in the financial statements may be rounded off as follows:

(a)where a reporting entity has assets, liabilities, expenses or revenues in excess of $10 million — it may disclose, in substitution for an amount required or permitted to be disclosed, that amount rounded off to the nearest $1,000, unless that amount is $500 or less, in which case the amount should be rounded to zero; and

(b)where a reporting entity has assets, liabilities, expenses or revenues in excess of $1 billion — it may disclose in substitution for an amount required or permitted to be disclosed, that amount rounded off to the nearest $1 million, unless that amount is $500,000 or less, in which case the amount should be rounded to zero.

1E.2Where an amount, as a result of rounding off, is reduced to zero in the primary statements, that amount must be disclosed to the nearest dollar in a note to the financial statements.

1E.3Rounding off must be applied consistently throughout the financial statements and the level of rounding of must be clearly indicated where it is applied.

1E.4This Policy applies to both entity and administered items.

1F   Simplified Reporting

Policy

1F.1Entities may adopt the simplified reporting provisions set out in this Policy.

Presentation of primary financial statements

1F.2Where the entire amount of an entity’s net surplus/deficit is attributable to the Australian Government in both the current and immediately preceding reporting periods, it is not necessary to include line items in the Statement of Financial Performance styled ‘Net Surplus or Deficit attributable to the Australian Government’ or ‘Net Surplus or Deficit attributable to outside equity interest’.

1F.3Where an amount is disclosed on the face of a primary statement, it is not necessary to repeat this information in the notes to the financial statements, unless this is required in conjunction with the presentation of other information.

Schedules

1F.4Where there are no commitments or contingencies in either the current or the immediately preceding reporting periods, it is not necessary to include a Schedule for such items. Instead, the fact that there are no such items should be disclosed in the notes to the financial statements.

Notes to the financial statements

1F.5Where an entity has no foreign exchange transactions or balances in respect of either the current or the immediately preceding reporting periods, disclosure of the entity’s accounting policies for foreign exchange is not required.

1F.6Where there are no reportable post-balance date events, disclosure of this fact is not required.

1F.7Where an entity has no insurance arrangements other than coverage from Comcover and Comcare, disclosure of the entity’s insurance arrangements is not required.

1F.8Where an entity is exempt from all forms of taxation except fringe benefits tax and goods and services tax, disclosure of the taxation status of the entity is not required.

1F.9Where the cash balance in the Statement of Financial Position equals the cash balance in the Statement of Cash Flows, in both the current and the immediately preceding reporting periods, the reconciliation of these two items referred to in sub-paragraph 12.1(b) of AAS 28 Statement of Cash Flows is not required.

1F.10Where the net fair value of each class of an entity’s financial asset and liability equals its carrying amount in both the current and immediately preceding reporting periods, and none of these financial assets or liabilities are readily traded on organised markets in a standardised form, entities may state this fact, instead of disclosing these amounts as per sub-paragraph 5.6(a) of AAS 33 Presentation and Disclosure of Financial Instruments.

1F.11In relation to Policy 7A of this Schedule, an entity that has no transactions in either the current reporting or any comparative period, should disclose by way of note that there were no such transactions or balances.

1F.12This Policy applies to both entity and administered items.

1G   Materiality (new Policy)

Policy

1G.1The requirements of this Schedule apply where information resulting from their application is material. Information is material if its omission, misstatement or non-disclosure has the potential to adversely affect:

(a)decisions about the allocation of scarce resources made by users of the entity’s financial report, or

(b)the discharge of accountability by the entity.

1G.2Any material classes of revenues, expenses, assets and liabilities not specified in Appendix A of this Schedule must be disclosed in the notes separately under the heading to which they relate unless they are shown on the face of the Statement of Financial Position or Statement of Financial Performance.

1G.3Any immaterial classes of revenues and expenses not specified in Appendix A section may be included in a class described as ‘other’ under the heading to which they relate.

1G.4The line item for “Other” under revenues, expenses, assets, liabilities, commitments and contingencies should not exceed 10% of the total value of that category.

1G.5This Policy applies to both entity and administered items.

2A   Recognition of Appropriations

Policy

Appropriations

2A.1The earliest point of recognition and/or disclosure for appropriations is as follows:

(a)for Appropriation Act (No. 1) and (No. 2) and Appropriation (Parliamentary Departments) Act (No. 1) —the commencement of the financial period (e.g. 1 July);

(b)for special appropriations—when drawn down;

(c)for all other Appropriation Acts—the date of royal assent; and/or

(d)for other amounts determined by the Finance Minister (or his delegate) the date of determination.

2A.2All appropriations must be disclosed in accordance with Policy 2C of this Schedule.

2A.3For Commonwealth Authorities, moneys received from the Australian Government, excluding grants, are to be recognised and/or disclosed as revenue in accordance with this Policy, as if they were appropriations.

Departmental appropriations

- Departmental outputs

2A.4For departmental output appropriations, recognise the full amount appropriated for departmental outputs as revenue of the year of appropriation, in the financial report, adjusted by all applicable current year formal additions and reductions listed at Clause 2A.15 of this Policy.

- Non-operating appropriations

2A.5Departmental non-operating appropriations must be recognised and disclosed in accordance with this Policy. The amounts to be recognised are to be the amounts in the Appropriation Acts, adjusted, where applicable, in accordance with Clause 2A.15 of this Policy.

- Equity injections and returns

2A.6Departmental equity injection appropriations must be recognised as a contribution by owners, and not as revenue. This will directly increase ‘Contributed Equity’ from the commencement of the period to which the appropriation applies, irrespective of when drawn down.

2A.7Departmental equity returns must be recognised as a return of capital in accordance with Clause 5B.7 of this Schedule, and not as a reduction to or refund of revenue. This will directly reduce ‘contributed equity’ from the time the return of capital is paid.

2A.8Departmental equity injections or returns can include restructuring agreements resulting from a transfer of function (refer to Clause 5A.2 of this Schedule) and determinations under section 10 Appropriations Act (No. 3) 2003-2004 and section 12 of Appropriation Act (No.4) 2003-2004 (refer to Clause 5B.8 of this Schedule).

- Loan appropriations

2A.9 Departmental loan appropriations must be recognised when the appropriation is drawn down as increases in borrowings, and not as revenue.

- Undrawn appropriations - purchasing/workload agreements

2A.10Where an entity has undrawn appropriation  under a purchasing, workload or other agreement, which is required by the agreement to be returned to Government, the entity must recognise the undrawn amount as a liability and not as a reduction to the appropriation revenue.

-Previous years’ outputs

2A.11Appropriations for ‘previous years’ outputs’ are funding for outputs delivered in prior periods. Recognition of these arrangements will have required revenue to be recognised in the prior period with a debit to appropriations receivable. Therefore when the appropriation is drawn down in the current year it must be recognised against the appropriation receivable and not as revenue.  However, where revenue was not recognised in a prior period, revenue for this type of appropriation must be recognised at the beginning of the period during which the appropriation was granted.

2A.12For recognition and disclosure requirements for departmental special appropriations refer to Clauses 2A.20 to 2A.22 of this Policy.

Appropriations – adjustments to current year revenue

2A.13Formal additions or reductions to appropriation revenue occur when an entity has gained or lost the capacity to control an appropriation. When an  appropriation is increased or reduced as a result of a formal addition or reduction, an entity will need to adjust its recognition and/or disclosure of appropriation revenue to the extent the entity has not already adjusted the appropriation for formal additions and reductions in previous years.

2A.14To be a formal addition or reduction, the gain or loss of control must be evidenced in writing from the appropriate authority as outlined in Clause 2A.15 of this Policy.

2A.15Appropriation revenues may only be adjusted, where applicable, by formal additions or reductions, in the current year, for the current year, which are as follows:

(a)net appropriations under section 31 of the FMA Act ;

(b)transfers of appropriation under section 32 of the FMA Act ;

(c)other amounts (excluding section 31) determined by the Finance Minister (or his delegate) under Part 3 Additions to Appropriations of Appropriation Acts 2004-2005;

(d)determination of reductions in accordance with the Appropriation Acts;

(e)adjustments as stipulated by any agreement that provides for additional revenue for over delivery, such as purchasing, workload or other agreements;

(f)adjustments made as a result of a decision by the Government, for an entity to provide additional outputs during the current financial period that will be provided for in the subsequent financial period; and/or

(g)all other reductions (including savings approved at Additional Estimates), made as a consequence of a policy of the Government, evidenced by a decision of the Cabinet or the Prime Minister.

2A.16The agreements referred to in Sub-clause 2A.15(e) of this Policy must:

(a)set out one or more quantifiable deliverable(s) and/or a specific amount of appropriation relating to each; and

(b)be approved by, or arise from, Ministerial decisions prior to the funding being given.

Administered Appropriations

2A.17Administered appropriations must be disclosed when drawn down in the ‘Administered Reconciliation Table’ (in accordance with Clause 6A.3 of this Schedule), and not as revenue.

2A.18For administered special appropriations disclosure requirements, refer to Clauses 2A.20 to 2A.22 of this Policy.

-State Payment Items

2A.19  The funding for State payment items (Specific Purpose Payments to the States and Territories) shall be reported as administered appropriations (in accordance with Policy 2B of this Schedule).

Special Appropriations – limited and unlimited

2A.20Entities must report the full amounts appropriated, for limited and unlimited special appropriations for which they are responsible (except where Clause 2A.21 applies), for the current year, as follows for:

(a)departmental special appropriations, recognise when drawn down the full amount appropriated as revenue in the financial statements and where applicable, adjusted by all current year addition and reduction provisions listed at Clause 2A.15 of this Policy; and

(b)administered special appropriations, disclose the full amount appropriated when drawn down and where applicable, adjusted by all current year addition and reduction in the ‘Administered Reconciliation Table’ (in accordance with Clause 6A.3 of this Schedule).

2A.21Where the entity that has drawn against the special appropriation is not the entity responsible for the special appropriation:

(a)the responsible entity must disclose the name of the entity to which it has given drawing rights; and

(b)the entity that has drawn against the special appropriation must recognise and disclose in its financial statements the amount that it has drawn against the special appropriation and disclose the name of the responsible entity.

Departmental Appropriations Receivable

2A.22A departmental appropriation receivable should be recognised where:

(a)the entity has received an appropriation and some portion of that appropriation remains undrawn at the end of the financial year;

(b)appropriate evidence demonstrates that additional outputs have been requested of an entity during the current financial period by the Australian Government and funding by way of appropriation for those additional outputs has been promised but will not be provided to the entity until a subsequent financial period in accordance with Clause 2A.15; and/or

(c)appropriate evidence demonstrates that the Australian Government has agreed to provide additional appropriation for over delivery such as purchasing and workload agreements and funding by way of appropriation for those additional outputs has been promised but will not be provided to the entity until a subsequent financial period.

2B   Departmental and Administered Items

Policy

2B.1This Policy applies when determining the classification of an item as “departmental” or “administered” for the purpose of preparing accrual based financial reports (i.e. for all reporting other than in the appropriation and Special Account disclosures notes required by Clauses 2C and 2F of this Schedule).

2B.2Subject to a reclassification by the Finance Minister or a delegate of the Finance Minister of an item under Clause 2B.6 of this Policy, where an amount is explicitly described in an Act (including an annual Appropriation Act) as being ‘departmental’ or ‘administered’, it will be classified, for the purposes of accrual reporting in the financial statements of the entity, as described in the Act.

2B.3All amounts appropriated as State payment items (Specific Payments to the States and Territories) in the annual Appropriation Acts are to be classified as administered items for accrual reporting purposes in the financial statements.

2B.4Other than as provided in Clauses 2B.2 and 2B.3 of this Policy, all other items will be classified as ‘departmental’ or ‘administered’ according to the following rules:

(a)‘Departmental items’ cover those assets, liabilities, revenues, expenses, cash flows, contingencies and commitments over which the entity has control that are applied to the production of the entity’s own outputs; [1] and

[1] Australian Accounting Standard AAS 29 ‘Financial Reporting by Government Departments’ paragraphs 6.3.11 and 6.3.12 and Statement of Accounting Concepts SAC 4 paragraphs 24 to 28.

(b)‘Administered items’ are assets, liabilities, revenues, expenses, cash flows, contingencies and commitments that the entity does not control and which are subject to highly prescriptive rules or conditions established by legislation, or Australian Government Policy, in order to achieve Australian Government outcomes.

2B.5Specific reporting requirements apply in relation to trust moneys (refer to Policy 3G of this Schedule).

2B.6Approval for classifications of new items and reclassifications of existing items is to be obtained from the Finance Minister or a person authorised by the Finance Minister.

2C   Appropriations Disclosures

Policy

2C.1Entities must make the disclosures in tabular form required by this Policy for all appropriations, including all special appropriations, in the notes to the financial statements.

Table A: Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund for Ordinary Annual Services Appropriations^{1, 14}

Particulars	Administered Expenses		Departmental Outputs	Total
Outcome 1	Outcome …'n'
2004–05 (Current period)
Balance carried from previous period
Reductions of appropriations (prior years) 2
Adjusted balance carried from previous period           [A]
Appropriation Act (No.1) 2004-20053
Appropriation Act (No.3) 2004-20054
Departmental adjustments by the Finance Minister (Appropriation Acts) 5
Comcover receipts (Appropriation Act s13)
Advance to the Finance Minister 6
Adjustment of appropriations on change of entity function (FMA s 32)
Refunds credited (net) (FMA s 30)
Appropriation reduced by section 9 determinations (current year) 7
Sub-total 2004-05 Annual Appropriation[B]
Appropriations to take account of recoverable GST (FMA s 30A) 8  [C]
Annotations to ‘net appropriations’ (FMA s 31)       [D]
Total appropriation available for payments    [A+B+C+D]
Cash payments made during the year (GST inclusive)    [E]
Appropriations credited to Special Accounts (excluding GST)  [F]
Balance of Authority to Draw Cash from the Consolidated Revenue Fund for Ordinary Annual Services Appropriations13  [A+B+C+D+E+F]
Represented by:
Cash at bank and on hand
Departmental appropriations receivable*1, 9
GST receivable from the ATO*1
Departmental appropriations receivable – drawing rights withheld by the Finance Minister (FMA s27(4))*1, 9
Formal reductions of appropriation*1, 10
Departmental appropriation receivable (appropriation for additional outputs)*1, 11
Undrawn, unlapsed administered appropriations
Total

Particulars	Administered Expenses Outcome 1   Outcome …'n'		Departmental Outputs	Total
2003–04 (Comparative period) 12
Balance carried from previous period
Appropriation Act (No.1) 2003-2004
Appropriation Act (No.3) 2003-2004
Departmental adjustments by the Finance Minister (Appropriation Acts)
Advance to the Finance Minister
Refunds credited (FMA s30)
Appropriations to take account of recoverable GST (FMA s30A)8
Annotations to ‘net appropriations’ (FMA s31)
Other cash adjustments (please describe)
Adjustment of appropriations on change of entity function (FMA s32)
Appropriation lapsed 7
Total appropriations available for payments
Payments made during the year (GST inclusive)
Appropriations credited to Special Accounts
Balance carried to the next period

The amounts recorded in this table are primarily on a cash basis. However where indicated by an asterisk (*) the amount recorded should be an accrual amount.1     

2Entities must distinguish between “reductions for prior years” through section 8 and 9 determinations relating to previous years, and “appropriation that was reduced by a section 9 determination for the current year”, and disclose the former for this item. In determining the amount to be disclosed for section 8 determinations, entities must disclose the amount the appropriation was reduced by (e.g. annual appropriation, less all adjustments such as section 32, less section 8 determination amount equals the amount of appropriation reduced by the section 8 determination).

3As per Appropriation Act (No. 1) 2004-2005, and where appropriate, Appropriation (Parliamentary Departments) Act (No.1) 2004-2005.

This item must be as per Appropriation Act (No. 3) 2004-2005, and where appropriate, Appropriation (Parliamentary Departments) Act (No.2) 2004-2005.4     

Section 11 Appropriation Acts (No. 1) and (No. 3) 2004-2005 or section 13 of Appropriation (Parliamentary Departments) Acts (No.1) and (No.2) 2004-2005.5     

6Section 12 Appropriation Acts (No. 1) and (No. 3) 2004-2005 or section 14 of Appropriation (Parliamentary Departments) Acts (No.1) and (No.2) 2004-2005.

7This amount will be the current year amount of appropriation for departmental and/or administered items that was reduced by a section 9 for Act 1 and equivalent for Act 3 determinations by the Finance Minister before 30 June.

8The amount recorded will be the amounts of GST appropriated during the reporting period (i.e. cash paid basis), but will need to exclude GST appropriated for payments to Special Accounts. This will allow for comparability between appropriation disclosure under this Policy and the disclosure of special accounts under Policy 2E of this Schedule.

9Entities must disclose the appropriation receivable net of that amount for which the Finance Minister “withheld the drawing right” and separately disclose the amount of appropriation receivable whose drawing rights have been withheld.

10Where an adjustment meets the recognition criteria of a formal reduction to an appropriation, in accordance with Clause 2A.15 of this Schedule, but at law the appropriation has not been reduced, the entity must disclose those amounts as an aggregate.

This item must equal the amount of appropriation promised to an entity to provide additional outputs in the current year with appropriation to be provided in the following year.11   

12If an entity prefers, the comparative year information may be shown to the right of the current year columns. If this approach is taken, the more extensive current year disclosure requirements must be used for both years.

This table refers to the long title of Appropriation Acts 1 and 3, which is “An Act to appropriate money out of the Consolidated Revenue Fund for the ordinary annual services of the Government, and for related purposes”. This table includes Appropriation (Parliamentary Departments) (No. 1) Act.13   

The “Represented by” lines in Table A and related footnotes 9-11 are intended to report a reconciliation between the balance of each appropriation legally available as at 30 June each year and the balances of cash and appropriations receivables for departmental items and the balance of cash in an agency’s administered bank accounts for administered items.  Entities should report any other reconciling items if applicable.14   

Table B: Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund for Other than Ordinary Annual Services Appropriations^{1, 15}

Particulars	Operating					Non – operating					Total
Outcome 1			Outcome…'n'
SPPs2	NAE3	SPPs2		NAE3	Equity	Loans		Previous Years’ Outputs	Admin assets and liabilities
2004–05 (Current period)
Balance carried from previous period
Reduction of appropriations (prior years) 4
Adjusted balance carried from previous period     [A]
Appropriation Act (No.2) 2004-20055
Appropriation Act (No.4) 2004-20056
Departmental Adjustments and Borrowings7
Advance to the Finance Minister 8
Adjustment of appropriations on change of entity function (FMA s32)
Refunds credited (net) (FMA s30)
Appropriation reduced by a section 11 determination (current year) 11
Sub-total 2004-05 Annual Appropriation          [B]
Appropriations to take account of recoverable GST (FMA s30A) 9  [C]
Total appropriations available for payments  [A+B+C]
Cash payments made during the year (GST inclusive)  [D]
Appropriations credited to Special Accounts (GST exclusive)  [E]
Balance of Authority to Draw Cash from the Consolidated Revenue Fund for Other Than Ordinary Annual Services Appropriations15   [A+B+C+D+E]
Represented by:
Cash at bank and on hand
Departmental appropriation receivable*1, 11
GST receivable from the ATO*1
Departmental appropriation receivable – Drawing rights withheld by the Finance Minister (FMA s27(4)) *1, 11
Formal reductions of appropriation revenue*12
Departmental appropriation receivable (appropriation for additional outputs)* 13
Undrawn, unlapsed administered appropriations
Total

Particulars	Operating					Non – operating					Total
Outcome 1			Outcome…'n'
2003–04 (Comparative period) 14
Balance carried from previous period
Appropriation Act (No.2) 2003-2004
Appropriation Act (No.4) 2003-2004
Adjustments by the Finance Minister
Advance to the Finance Minister
Refunds credited (FMA s30)
Appropriations to take account of recoverable GST (FMA s30A)
Annotations to ‘net appropriations’ (FMA s31)
Other cash adjustments (please describe)
Adjustment of appropriations on change of entity function (FMA s 32)
Appropriation lapsed10
Total appropriations available for payments
Cash payments made during the year (GST inclusive)
Appropriations credited to Special Accounts
Balance carried to the next period

The amounts recorded in this table are primarily on a cash basis. However, where indicated by an asterisk (*) the amount recorded should be an accrual amount.1     

2State payment items (Specific Payments to the States and Territories) (refer Budget Papers).

3New Administered Expenses.

4For this item, entities must distinguish between “reductions for prior years” through section 7, 8 and 11 determinations made during the current year that relate to previous years, and “appropriation that was reduced by a section 11 determination for the current year”, and disclose the former. In determining the amount to be disclosed for section 8 determinations, entities must disclose the amount the appropriation was reduced by (i.e. annual appropriation, less all adjustments such as section 32, less section 8 determination amount equals the amount of appropriation reduced by the section 8 determination).

5As per Appropriation Act (No. 2) 2004-2005, and where appropriate, Appropriation (Parliamentary Departments) Act (No.1) 2004-2005.

6This item must be as per Appropriation Act (No. 4) 2004-2005, and where appropriate, Appropriation (Parliamentary Departments) Act (No.1) and (No. 2) 2004-2005.

7Section 12 Appropriation Act (No. 2) and (No.4) 2004-20005 and section 13 of Appropriation (Parliamentary Departments) Acts (No.1) and (No.2) 2004-2005.

8Section 13 Appropriation Act (No. 2) and (No.4) 2004-2005 and section 14 of Appropriation (Parliamentary Departments) Acts (No.1) and (No.2) 2004-2005.

9The amount recorded will be the amounts of GST appropriated immediately before payments are made (i.e. cash paid basis), but will need to exclude GST appropriated for payments from Special Accounts. This will allow for comparability between appropriation disclosure under this Policy and the disclosure of special accounts under Policy 2E of this Schedule.

10This amount will be the current year amount of appropriation for departmental and/or administered items that was reduced by a section 11 for Act 1 and equivalent for Act 4 determinations by the Finance Minister before 30 June.

11Entities must disclose the appropriation receivable net of that amount for which the Finance Minister “withheld the drawing right” and separately disclose the amount of appropriation receivable whose drawing rights have been withheld.

12Where an adjustment meets the recognition criteria of a formal reduction to an appropriation, in accordance with Clause 2A.15 of this Schedule, but at law the appropriation has not been reduced, the entity must disclose those amounts as an aggregate.

13This item must equal the amount of appropriation promised to an entity to provide additional outputs in the current year with appropriation to be provided in the following year.

14If an entity prefers, the comparative year information may be shown to the right of the current year columns. If this approach is taken, the more extensive current year disclosure requirements must be used for both years.

To distinguish between appropriations in Table A, for Appropriation Act 1, 3 and Parliamentary Departments 1, this Table B refers to “Other than Ordinary Annual Services Appropriations”. (Refer to note 13, Table A of this Policy.)15   

The “Represented by” lines in Table B and related footnotes 12-13 are intended to report a reconciliation between the balance of each appropriation legally available as at 30 June each year and the balances of cash and appropriations receivables for departmental items and the balance of cash in an agency’s administered bank accounts for administered items.  Entities should report any other reconciling items if applicable.16   

Table C:Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Special Appropriations (Unlimited Amount) ^{1, 2, 3}

Particulars of legislation providing appropriation (including purpose)	2005	2004
Cash payments made during the year4
Appropriations credited to Special Accounts
Refunds credited (net) (FMA s 30)
Total charged to appropriation
Budget estimate5

1     Prepare a separate table for each Act, current as at reporting date. In the heading to the table:

(a)  identify whether the special appropriation is administered or departmental; and

(b)  disclose the outcome it is associated with.

2     Entities must disclose all unlimited special appropriations in this format, excluding those unlimited special appropriations required to be disclosed under Tables D and E of this Policy.

3     For cross-referencing purposes, where an entity makes disclosures under this Table, and at least one other entity has drawn from the same special appropriation, the entity making disclosures under this Table must name those other entities by making the following statement: “(Other entity/entities) also drew from (special appropriation provision/s).”

4     This item must reflect total cash payments made under the special appropriation by the entity during the year.

5     Entities must disclose their Portfolio Budget Statement estimate, and where relevant, adjust this estimate by their Portfolio Additional Estimates Statement estimate, for this item. Cash payments are not legally limited to Budget estimates.

Table D:Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Special Appropriations (Refund Provisions)^{1, 2}

Particulars of legislation providing appropriation3	2005	2004
Cash payments made during the year4
Appropriations credited to Special Accounts
Refunds credited (net) (FMA s30)
Total charged to special appropriation
Budget estimate5 (list each other legislative provision that refunds have been made under)
Budget estimate5 (FMA s28)

1Where an entity has not used section 28 of the FMA Act or any other legislative provision allowing for refunds to be paid, that entity may make the following statement in the notes to their financial statements, in place of disclosing this table: “For the periods 2003-04 and 2004-05, (Entity) has not used section 28 of the FMA Act or any other legislative provision allowing for refunds to be paid.”

2If the entity has made repayments using section 28 of the FMA Act or any other legislative provision for repayments required or permitted under law, the entity must disclose the aggregate of all those transactions in this table.

3Prepare a separate table for each Act, current as at reporting date. In the heading to the table:

(a)  identify whether the special appropriation is administered or departmental; and

(b)  disclose the outcome it is associated with.

4This item must reflect the total refunds made by the entity during the year  (including s28 refunds if applicable).

5Entities must disclose their Portfolio Budget Statement estimate, and where relevant, adjust this estimate by their Portfolio Additional Estimates Statement estimate, for this item. Cash payments are not legally limited to Budget estimates.

Table E:Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Special Appropriations  (Section 39 of the FMA Act)¹

Investment of Public Money: Special Appropriations under section 39 of the FMA Act2	2005	2004
Amount invested carried from previous period
Prior year investments redeemed in current year3
Investments made during the year3, 4
Redemptions of current year investments4
Amount invested carried to the next period (sum of the above)
Budget estimate5

1Where an entity has a delegation but has not used section 39 of the FMA Act, that entity may make the following statement in place of disclosing this table: “For the periods 2003-04 and 2004-05, (Entity) has not used section 39 of the FMA Act.”

2In the heading to the table:

(a)  identify whether the special appropriation is administered or departmental; and

(b)  disclose the outcome it is associated with.

3Where a section 39 investment has earnt interest, and that interest is redeemed and reinvested, entities must include the amount of interest in this item, and state that this amount includes interest and the amount of interest that is included.

4This is the gross amount.

5Entities must disclose their Portfolio Budget Statement estimate, and where relevant, adjust this estimate by their Portfolio Additional Estimates Statement estimate, for this item. Payments are not legally limited to Budget estimates.

Table F:Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Special Appropriation (Limited Amount)^{1, 2, 3}

Particulars of legislation providing appropriation (including purpose)	2005	2004
Appropriation by type	Appropriation by type
Amount available carried from previous period
Appropriation for reporting period
Appropriations to take account of recoverable GST (FMA s30A) 4
Available for payments
Cash payments made during the year (GST inclusive)
Appropriations credited to Special Accounts
Appropriations lapsed7
Amount available carried to the next period
Represented by:
Cash
Departmental appropriation receivable* 5,6,
Undrawn, unlapsed administered appropriations
Departmental appropriation receivable – drawing rights withheld by the Finance Minister (FMA s27(4))*5,6
Total

1     Prepare a separate table for each Act, as current at reporting date. In the heading to the table:

(a) identify whether the special appropriation is administered or departmental; and

(b) disclose the outcomes it is associated with.

If a departmental special appropriation includes both outputs and capital funding, please provide separate columns for each type.

2    For cross-referencing purposes, where an entity makes disclosures under this Table, and at least one other entity has drawn from the same special appropriation, the entity making disclosures under this Table must name those other entities by making the following statement: “(Other entity/entities) also drew from (special appropriation provision/s).”

3    Agencies must disclose the amount of limited special appropriations that under the terms of the appropriation lapse due to the passage of time.

4    The amount recorded for this item will be the amounts of GST appropriated immediately before payments are made (i.e. cash paid basis), but will need to exclude GST appropriated for payments from Special Accounts. This will allow for comparability between appropriation disclosure under this Policy and the disclosure of special accounts under Policy 2E of this Schedule.

5    The amounts recorded in this table are primarily on a cash basis. However, where indicated by an asterisk (*) the amount recorded should be an accrual amount.

6    Entities must disclose the appropriation receivable net of that amount for which the Finance Minister “withheld the drawing right” and separately disclose the amount of appropriation receivable whose drawing rights have been withheld.

7    Lapsed for time, or any other, constraints contained within the provisions of the special appropriations enabling legislation.  In this instance, there remains an unspent appropriation that is no longer available. This amount should reduce the ‘Amount available carried to the next period’.

2C.2The disclosures required by this Policy for appropriations, including special appropriations, are to be included, in the form specified, regardless of whether the relevant amounts are considered to be material.

2C.3For special appropriations, prepare a table for each Act.

2C.4For special appropriations, where an appropriation has not been drawn on in the current and the previous year, in place of completing the tables above, an entity may elect to make an abbreviated disclosure that includes all of the following:

(a)identify whether the special appropriation is administered or departmental;

(b)identify the legislative provision that provides the authority for the special appropriation;

(c)disclose the outcomes it is associated with;

(d)state that the special appropriation was not drawn on in the current or previous year; and

(e)for limited special appropriations, the balance available.

2C.5Where there are material variances between the cash payments for the reporting period and the amount appropriated, otherwise authorised or estimated through Budget Estimates, entities should provide an explanation of those variances below the relevant Table.

2C.6This Policy applies to both departmental and administered items.

2C.7Refer to Policy 2A of this Schedule in relation to the recognition of appropriations.

Appropriation for refunds required or permitted by law

2C.8Each Agency must ensure they have a valid appropriation for all amounts drawn from the Consolidated Revenue Fund for refunds (including repayments) required or permitted by law. These refunds, which include repayments made under section 28 of the FMA Act, should be recognised and/or disclosed under their valid appropriation, and as required by Table D of this Policy.

Investment of public money

2C.9Each entity must recognise and/or disclose all public money invested in authorised investments under section 39 of the FMA Act or sections 18 and 19 of the CAC Act in Table E of this Policy. All money invested through a special account must also be disclosed in accordance with Policy 2E of this Schedule.

2D   Reporting of Outcomes and Outputs

Policy

2D.1Entities in the General Government Sector must disclose in the notes the following tables relating to outcomes and outputs:

Table A:Net Cost of Outcome Delivery

Outcome 11		Outcome …n1		Total2
2005	2004	2005	2004	2005	2004
Expenses
Administered
Departmental
Total expenses
Costs recovered 3
Administered
Departmental
Total costs recovered
Other external revenues4
Administered
Departmental
Total other external revenues
Net cost/(contribution) of outcome

2Outcomes are to be as specified in the Appropriation Acts relevant to the entity.

2The amounts in the total column for departmental items must agree to the entity’s Statement of Financial Performance and the amounts in the total column for administered items must agree to the entity’s totals in the Schedule of Administered Items.

2Disclosure of cost recoveries is mandatory from the years ended 30 June 2003 onwards. Cost recoveries are defined in the Commonwealth Cost Recovery Guidelines for Information and Regulatory Agencies, Department of Finance and Administration, and in Definition of Terms of this Schedule.

2Entities should disclose the nature of these external revenues by major class.  Where these include intra- or inter- government charges, such charges should be shown separately.

Table B:  Major Departmental Revenues and Expenses by Output Groups and Outputs

Outcome 1#1	Output Group 1.1n				Outcome
	Output 1…n		Group Total		Total
	2005	2004	2005	2004	2005	2004
Departmental expenses
Show each relevant major class
Total departmental expenses
Funded by:
Show each relevant major class of revenues
Total departmental revenues

#1Entities should prepare a separate Table B for each Outcome, with outcomes as specified in the Appropriation Acts relevant to the entity.

Paragraph 12.7 of AAS 29 Financial Reporting by Government Departments paragraph 12.7 requires disclosure of revenues and expenses by ‘major activity’, which includes outputs.

Table C:   Major Classes of Administered Revenues and Expenses by Outcome¹

Outcome 12		Outcome…’n’2		Total3
2005	2004	2005	2004	2005	2004
Revenues
Show each relevant major class
Expenses
Show each relevant major class

1.Paragraph 12.9 of AAS 29 Financial Reporting by Government Departments requires disclosure of administered revenues and expenses by ‘major activity’.

2.Outcomes are to be as specified in the Appropriation Acts relevant to the entity.

3.The amounts in the total column for administered items must agree to the entity’s totals in the Schedule of Administered Items.

2D.2Entities must disclose in footnotes to these Tables, that the net costs shown include intra-government costs (e.g. rent paid on Australian Government owned premises or fees for service) that would be eliminated in calculating the actual Budget outcome.

2D.3Entities preparing these tables must attribute shared items using a basis that most accurately reflects the total cost or revenue to each output or outcome. If this basis differs from that used in preparing the Budget, additional disclosure must be included to explain the variation.

2D.4Where an output or outcome changes during the year, entities must:

(a)match the changed output or outcome to accord with the adjusted output or outcome arrangements approved through the portfolio additional estimates process; and

(b)apportion the amounts disclosed between the new and former outputs or outcomes, based on the date that the change was approved through the portfolio additional estimates process, so that entities report against the original outputs or outcomes up to the date of the change and against the revised outputs or outcomes after that date.

2D.5The attribution method used to apportion shared items must be reliable and must be disclosed in the text accompanying the tables (see AAS 29 paragraph 12.7).

2D.6This Policy applies to both departmental and administered items.

2D.7The amounts disclosed must be net of refunds and adjustments.

2E   Special Accounts

Policy

2E.1Entities must:

(a)prepare a separate table for each Special Account used during the year; or

(b)apply Clause 2E.3 of this Policy where the Special Accounts have not been used during the current year and comparative year; and

(c)disclose the following table/s or disclosure as required by Clause 2E.3 of this Policy, in the notes to the financial statements.

Table A:Special Accounts

Full official title (eg account name)1, 2	2005	2004
Balance carried from previous period *
Appropriation for reporting period3
Costs recovered
GST credits (FMA s30A)
Realised investments
Other receipts (Show each major class)4
Available for payments
Payments made (Show each major class) 4
Repayments debited from the Special Account (s 28)5
Investments debited from the Special Account (FMA s39)
Balance carried to the next period *
Represented by:
Cash – transferred to the Official Public Account
Cash – held by the entity
Total balance carried to the next period

* Special Accounts cannot have a debit balance at any point.

1.In the heading information, entities should also indicate:

(a) whether the account is administered, departmental or Special Public Money in nature;

(b) the purpose of the Special Account; and

(c) disclose the authority under which the Special Account was established.

[Note: Where a Special Account was established by other Acts, the enabling legislation should also be disclosed.]

2.Where a Special Account’s status has changed during the year (e.g. established, varied, revoked or abolished), the nature and date of effect of each change should be included in the heading information. Where the nature of these changes are significant, consideration should be given as to whether two disclosure tables should be prepared for the “before” and “after” periods.

3.Each current year Appropriation Act should be reported on a separate line in the table and the total amount transferred and reported should agree with the Special Accounts disclosures as required by Policy 2C of this Schedule.

4.Major classes are as per the primary statements in Appendix A of this Schedule. Where legislation directly credits a Special Account with amounts, this table should include a line ‘Amounts credited under the (full name of) Act’. Where interest is credited to a Special Account, this table should include a line ‘Interest amounts credited’.

5.For all Special accounts the sum of the line ‘Investments debited from the Special Account (FMA s39)’ should add to the total figure reported in the table/s required by Policy 2C of this Schedule (except for/by AOFM).

Table B:      Special Accounts Investment of Public Money ^{1, 2, 3}

Full official title of Special Account: Investment of Public Money under section 39 of the FMA Act and sections 18 and 19 of the CAC Act	2005	2004
Opening balance
Investments made
Interest earned
Transaction charges
Investments realised
Closing Balance

1If a delegation has been made under section 39 of the FMA Act or sections 18 and 19 of the CAC Act to the CEO of the entity in respect of the Special Account, and that delegation has been used, the entity must disclose the aggregate of all those transactions in this table.

2Where an entity has not used section 39 of the FMA Act or sections 18 and 19 of the CAC Act in respect of the Special Account, that entity may make the following statement in place of disclosing this table: “For the periods 2003-04 and 2004-05, (Entity) has not used section 39 of the FMA Act or sections 18 and 19 of the CAC Act in respect of this Special Account.”

3This Table must reflect investments made under section 39 of the FMA Act or sections 18 and 19 of the CAC Act by the entity in respect of this Special Account.

2E.2Entities that externally invest amounts standing to the credit of a special account, using a valid delegation of Financial Management and Accountability Act 1997 (FMA Act) section 39 investment powers, or sections 18 and 19 of the Commonwealth Authorities and Companies Act (CAC Act) should disclose the net amount invested during the year in the text accompanying the Special Account table(s).

2E.3Special Accounts which have not been used during the current year and comparative year, regardless of whether they have a nil or positive balance, may make this abbreviated disclosure instead of preparing the table at Clause 2E.1 of this Policy. This abbreviated disclosure would consist of:

(a)the Special Account’s title;

(b) whether the account is administered, departmental or Special Public Money in nature;

(c) the purpose of the Special Account;

(d) disclose the authority under which the Special Account was established;

(e)a statement noting the Special Account has not been used during the current year and comparative year; and

(f)the opening and closing balance.

2E.4Disclosures required by this Policy are to be included, in the form specified, regardless of whether the relevant amounts are considered to be material.

2E.5This Policy applies to both departmental and administered items.

3A   Receivables

Policy

3A.1At the end of the reporting period there must be shown, in a note, an aged analysis of receivables and provision for doubtful debts that are:

(a) current;

(b) overdue less than 30 days;

(c) overdue 30 to 60 days;

(d) overdue 61 to 90 days; and

(e) overdue more than 90 days.

3A.2This Policy applies to both entity and administered items.

3B   Internal Use Software

Policy

3B.1This Policy applies to software held for internal entity use, whether internally developed or externally acquired. It does not apply to software held for sale or software that is an integral part of hardware.

3B.2Internally developed and externally acquired computer software for internal use must initially be recognised and, where applicable, capitalised at the cost of development or acquisition.

3B.3After initial recognition, internal use software should be carried at its cost less any accumulated amortisation and any accumulated write downs.

3B.4The carrying amount of internal use software must be amortised or depreciated over the useful life of the software.

3B.5This Policy applies to both entity and administered assets.

3C   Non-Current Assets

Policy

3C.1Entities must revalue every class of assets that include assets of the types listed below, on the fair value basis (or other valuation basis permitted by the transitional provisions of AASB 1041 Revaluation of Non-Current Assets):

(a)land;

(b)buildings;

(c)subject to Clause 3C.2 of this Policy, infrastructure, plant and equipment;

(d)heritage and cultural assets;

(e)investment properties; and

(f)investments that are financial assets of Public Financial Corporations that are measured at market value with any changes in value recognised in net surplus/deficit in the reporting period in which the change occurs.

All the above asset classes must be valued at their fair value at the end of the first reporting period beginning after 30 June 2004.

3C.2The cost basis must be applied to:

(a)specialist military equipment assets;

(b)intangible assets; and

(c)investments, except for investments that are required to be accounted for in accordance with the equity method of accounting under an Australian Accounting Standard and those investments referred to at Clause 3C.1(f) of this Policy.

3C.3Assets included in a class referred to in Clause 3C.1 of this Policy must be the subject of a formal valuation at least once every five years. A formal valuation is one:

(a)carried out by an independent qualified expert; or

(b)carried out in accordance with a methodology approved by an independent qualified expert.

3C.4This Policy applies to both entity and administered assets.

3D     Impairment of Non-Current

Policy

3D.1This Policy applies to:

(a)non-current assets of non-commercial entities where the future economic benefits comprising those assets are not primarily dependent on the asset’s ability to generate net cash inflows; and

(b)entity and administered assets, except for administered investments in separate legal entities.

3D.2This Policy does not apply to:

(a)non current assets of commercial entities; and

(b)non-current assets of non-commercial entities where the future economic benefits comprising those assets are primarily dependent on the asset’s ability to generate net cash inflows.

Such assets are subject instead to AAS 10 Recoverable Amount of Non-Current Assets if held at cost or deprival value or AASB 1041 Revaluation of Non-Current Assets if held at fair value.

3D.3Budget-funded appropriations are not cash inflows generated by an entity’s non-current assets. Entities, or parts of entities, other than those whose predominant purpose is to generate net cash inflows, are not cash generating operations for the purpose of AASB 1041.

Impairment losses

3D.4At each reporting date, entities must assess whether there is any indication that assets to which this Policy applies may be impaired.

3D.5Where an asset is assessed as being impaired, the entity must estimate the recoverable amount of the asset. If the recoverable amount of the asset is less than its carrying amount, the carrying amount must be reduced to the recoverable amount. That reduction is an impairment loss.

3D.6An impairment loss in respect of an asset measured on the cost basis must be recognised immediately as an expense. An impairment loss in respect of an asset measured at deprival value must be accounted for as a revaluation decrement in accordance with paragraphs 5.4 and 5.5 of AASB 1041.

3D.7The recoverable amount of an asset is defined as the higher of its net selling price and its written-down current cost. Where an entity would not replace the remaining future economic benefits of an asset the written down current cost is zero.

Reversal of Impairment Losses

3D.8An entity shall assess at each reporting date whether there is any indication that an impairment loss recognised in prior periods for an asset may no longer exist or may have decreased.

3D.9If any indication referred to in Clause 3D.7 of this Policy exists, the entity must estimate the recoverable amount of the asset. If the recoverable amount is greater than the carrying amount of the asset, the carrying amount shall be increased to the recoverable amount. However, if the recoverable amount is greater than the carrying amount that would have been determined had no impairment loss been recognised, the asset must instead be restated at that latter amount. An increase in carrying amount under this paragraph is a reversal of an impairment loss.

3D.10A reversal of an impairment loss in respect of an asset measured on the cost basis must be recognised immediately as revenue. A reversal of an impairment loss in respect of an asset measured at deprival value must be accounted for as a revaluation increment in accordance with paragraphs 5.4 and 5.5 of AASB 1041.

Disclosure

3D.11In the notes to the financial statements, an entity must disclose:

(a)for each class of assets:

(i)the amount of impairment losses recognised as expense during the period; and

(ii)the amount of reversals of impairment losses recognised as revenue during the period.

(b)for each material impairment loss or reversal recognised in the period:

(i)the events and circumstances that lead to the recognition or reversal of the impairment loss;

(ii)the amount of the impairment loss recognised or reversed;

(iii)the nature of the asset;

(iv)whether the recoverable amount of the asset is its net selling price or its value in use; and

(v)if recoverable amount is the net selling price, the basis used to determine net selling price (such as whether selling price was determined with reference to an active market or in some other way).

3E   Analysis of Property, Plant and Equipment, and Intangibles

Policy

3E.1The notes to the financial statements must include tables A, B, C and D below.

3E.2This Policy applies to entity and administered items.

Table A:  Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment and Intangibles.

Item	Land ($’000)	Investment property ($’000)	Buildings ($’000)	Specialist military equipment ($’000)	Other infra-structure, plant and equipment    ($’000)	Heritage and cultural assets ($’000)	Computer software ($’000)	Other intangibles ($’000)
As at 1 July (previous year)
Gross book value
Accumulated depreciation
Opening Net book value
Additions:
by purchase
by finance lease
from acquisitions of entities or   operations (including restructuring)
Net revaluation increment/decrement
Reclassifications
Depreciation/amortisation expense
Recoverable amount write-downs
Other movements (give details below)
Disposals:
from disposal of entities or operations (including restructuring)
other disposals
As at 30 June (current year)
Gross Book Value
Accumulated depreciation
Closing Net Book Value

Table B:  Property, Plant and Equipment and Intangibles at Valuation.

Item	Land ($’000)	Investment property ($’000)	Buildings ($’000)	Specialist military equipment ($’000)	Other infra-structure, plant and equipment ($’000)	Heritage and cultural assets ($’000)	Computer software ($’000)	Other intangibles ($’000)
As at 30 June (current year)
Gross value
Accumulated depreciation/amortisation
Closing Net book value
As at 30 June (previous year)
Gross value
Accumulated depreciation/amortisation
Closing Net book value

Table C:  Property, Plant and Equipment and Intangibles Held under Finance Lease.

Item	Land ($’000)	Investment property ($’000)	Buildings ($’000)	Specialist military equipment ($’000)	Other infra-structure, plant and equipment ($’000)	Heritage and cultural assets ($’000)	Computer software  ($’000)	Other intangibles ($’000)
As at 30 June (current year)
Gross value
Accumulated deprecation/amortisation
Closing Net book value
As at 30 June (previous year)
Gross value
Accumulated deprecation/amortisation
Closing Net book value

Table D:  Property, Plant and Equipment and Intangibles under Construction.

Item	Buildings ($’000)	Specialist military equipment ($’000)	Other infra-structure, plant and equipment ($’000)	Computer software ($’000)	Other intangibles ($’000)
Gross value at 30 June (current year)
Gross value at 30 June (previous year)

3F   Restricted Assets

Policy

3F.1Where the use of an asset that is recognised in the Statement of Financial Position and/or Schedule of Administered Items is restricted, wholly or in part of, by regulations or other externally-imposed requirements, and information about those restrictions is relevant to assessing the performance or financial position of the entity, the following must be disclosed:

(a)the identity and carrying amount of the assets; and

(b)the nature of the restrictions.

3F.2The policy applies to both entity and administered items.

3G   Assets Held in Trust

Policy

3G.1The financial statements of entities must include a note giving particulars of assets, cash and non-cash, held in trust.

3G.2In relation to assets held in trust, the particulars required by Clause 3G.1 of this Policy must be provided as a summary of the categories of assets held at the end of the reporting period and the purpose for which they are being held.

3G.3In relation to cash held in trust, the particulars required by Clause 3G.1 of this Policy must include, for each significant category of trust, the:

(a)total amount held at the beginning of the reporting period;

(b)total receipts during the reporting period;

(c)total payments during the reporting period; and

(d)total amount held at the end of the reporting period:

(i)by the entity; and

(ii)in the Official Public Account on behalf of the entity as a receivable.

3G.4In relation to non-cash assets held in trust, the particulars required by Clause 3G.1 of this Policy must include, for each significant category of trust, except for assets held by intelligence and security entities:

(a)a short description of each non-cash asset;

(b)the value of assets acquired or disposed of during the reporting period; and

(c)the value of assets at the end of the reporting period.

3H     Sale of Administered Investments

Policy

3H.1This Policy applies to administered investments measured on the cost basis and held for sale.

3H.2Administered investments are held for sale when a person or persons with the power to do so has made a formal, documented decision that the assets will be sold.

Measurement at the time of the decision to sell

3H.3The recoverable amount test in AAS 10 Recoverable Amount of Non-Current Assets is to be applied to all administered investment assets held for sale. The recoverable amount test must be initially applied as at the date of the decision to sell referred to in Clause 3H.2 of this Policy.

3H.4In calculating the recoverable amount under AAS 10, cash flows should be discounted to their net present value.

3H.5Immediately following the initial application of the recoverable amount test, an administered investment asset held for sale is classified as current or non-current based on the timing of the expected cash flows.

Subsequent Measurement

3H.6Directly attributable selling costs incurred after the date of classifying an administered investment asset as held for sale are added to the cost of that asset as they are incurred. Where selling costs are directly attributable to a group of administered investment assets held for sale, but not to a single such asset, they should be recorded as a separate administered asset. All selling costs capitalised in accordance with this Policy must be allocated to administered investment assets held for sale at the end of each reporting period for the purposes of applying the AAS 10 recoverable amount test. Selling costs incurred before the date of the decision to sell are expensed.

3H.7The AAS 10 recoverable amount test is applied to current and non-current administered investment assets held for sale at the end of each reporting period until the asset is sold, otherwise disposed of, or the decision to sell the asset is revoked. If the decision to sell the asset is revoked, the asset is no longer classified as held for sale and is restated on the cost basis. The amount of any restatement is recorded as ‘Administered Revenue – Reversal of Recoverable Amount Write-down’.

3H.8Where directly attributable selling costs are controlled expenses of a Department, an amount equal to the portion incurred after the date of the decision to sell should be capitalised as part of the administered investment. The increase in the carrying amount of the administered investment is matched by an equivalent credit to ‘Administered revaluations taken to/from reserves’.

Transfer of Administered Investment Assets

3H.9Where a decision to transfer an administered investment asset to another entity for sale has been taken, but it is not clear at what date that responsibility for the asset transferred, the asset is assumed to have transferred at the date of the decision to sell the asset.

3H.10The initial application of the recoverable amount test referred to at Clause 3H.3 of this Policy is performed by the transferring Department, and any resultant write-down of the asset is recognised in that Department’s administered expenses.

3H.11Transfers of administered investments held for sale must always be accounted for in accordance with Policy 5A of this Schedule.

Disclosures

3H.12The following particulars must be disclosed in the administered notes for each asset sale:

(a)proceeds from sale;

(b)written-down value of assets sold, excluding capitalised selling costs attributable to the assets sold;

(c)capitalised selling costs; and

(d)net gain or loss on sale.

3I    Heritage And Cultural Assets

Policy

3I.1     Heritage and cultural items should only be recognised as assets where they meet the definition and recognition criteria for an asset set out in Statement of Accounting Concepts 4 (SAC 4) Definition and Recognition of the Elements of Financial Statements.

3I.2     Where the use or holding of heritage and cultural assets are subject to restrictions, the fair value ascribed to those assets should reflect those restrictions.

3I.3Heritage and cultural assets should not be depreciated if there is no foreseeable limit to the period over which they will be held and used.

3I.4     When an entity controls or administers heritage and cultural items that are not recognised as assets, the notes to the financial statements must include the following:

(a)    a description of those items;

(b)    the reason for non-recognition of those items;

(c)    the amount expended to acquire such items during the financial year; and

(d)    the amount of proceeds from the disposal of such items during the financial year.

3I.5     This Policy also applies to those components of buildings that have heritage or cultural value, where these can be separately identified from, and are material in relation to, the building as a whole.

3I.6   This Policy applies to both entity and administered items.

4A   Contingent Liabilities and Contingent Assets

Policy

4A.1Contingent liabilities and contingent assets that can be reliably measured must be included in the Schedule of Contingencies, in accordance with Appendix A of this Schedule, except where the probability of a liability or asset being recognised in the future is remote. Equivalent disclosure for administered contingent liabilities and contingent assets must be included in the Schedule of Administered Items.

4A.2Contingent liabilities and contingent assets must be classified in accordance with the categories in the Schedule of Contingencies.

4A.3A note to the financial statements titled ‘Contingent Liabilities and Contingent Assets’:

(a)must be included in each entity’s financial report;

(b)a separate note must be included for administered contingent liabilities and administered contingent assets;

(c)the note titles in both these cases need not refer to contingent assets if none exist;

(d)must include the information required by paragraph 14.6 of AASB 1044 Provisions, Contingent Liabilities and Contingent Assets;

(e)must include the information referred to at (d) above, in respect of any material remote contingencies; and

(f)must present separately information on non-remote and material remote contingencies

in the format of the Schedule of Contingencies in Appendix A.

4A.4The reference in paragraph 14.8 of AASB 1044 to ‘entity’ must be read as ‘the entity, another Australian Government entity or the Australian Government as a whole’.

4B   Commitments

Policy

4B.1Commitments are:

(a)intentions to create liabilities, as evidenced by undertakings or agreements, to make future payments to other entities; and

(b)unrecognised liabilities that are Agreements Equally Proportionately Unperformed (AEPU) except where the AEPU is an onerous contract as defined in AASB 1044 Provisions, Contingent Liabilities and Contingent Assets.

4B.2The nature, and where quantifiable the amount, of each category of commitments must be disclosed in a Schedule of Commitments in accordance with the tables in Appendix A. Equivalent disclosure for administered commitments must be included in the Schedule of Administered Items.

Grants

State and Territory Governments

Local Governments

Private sector

Overseas

Related entities

Depreciation and Amortisation

Depreciation

Other infrastructure, plant and equipment

Specialist military equipment

Buildings

Total depreciation

Amortisation

Assets held under finance leases

Intangibles

Computer software

Other

Total Amortisation

Write-Down and Impairment of Assets

Inventory

Financial (specify each class)

Non-Financial (refer to Table A in Policy 3E of this Schedule)

Value of Assets Sold

Receivables

Investments

Land and buildings

Heritage and cultural assets

Infrastructure, plant and equipment

Intangibles

Net Foreign Exchange Losses

Speculative

Non-speculative

Other

Losses from derivative financial instruments

Guarantees, undertakings and indemnities met

Borrowing Costs Expense

Loans

Leases

Overdrafts

Other

Extraordinary Items

Each extraordinary item

Non-Commercial Reporting Entities - Note Disclosure

Assets  2005                  2004

Cash

Special Accounts

Trust Accounts

Other

Receivables

Goods and services

Appropriations

Loans

Bills of exchange and promissory notes

Interest

Dividends

Other

Investments Accounted for under the Equity Method

Investments in associates

Investments in joint ventures

Investments including section 39 FMA Act; section 18 CAC Act; section 19 CAC Act

Deposits

Securities of Australian Government, State and Territories

Securities guaranteed by Australian Government, State and Territories

Prescribed by the regulations

Debt instruments

Other

Other Investments

Gold

Government securities

Shares

Subsidiary companies

Other companies

Debentures

Investments under section 39 FMA Act

Other

Other Financial Assets

Prepayments paid

Other

Land and Buildings

Land

Buildings (not integral to infrastructure)

Infrastructure Plant and Equipment

Infrastructure, plant and equipment

Specialist military equipment

Other

Heritage and Cultural Assets

Inventories

Inventories held for sale

Inventories not held for sale

Intangibles

Patents, trademarks, brand names and licences

Computer software

Purchased (include any modification cost)

Internally developed

Research and development expenditure capitalised

Goodwill

Other

Other Non-Financial Assets

Prepayments paid

Other

Non-Commercial Reporting Entities - Note Disclosure

2005                  2004

Liabilities

Interest Bearing Liabilities

Loans

Bank loans

Non-bank loans

Bills of exchange and promissory notes

Other

Maturity schedule must be included for total loans showing amounts payable within:

One year or less

From one to five years

More than five years

Leases

Maturity schedule must be included for total leases showing amounts payable within:

One year or less

From one to five years

More than five years

Other interest bearing liabilities

Provisions

Employees

Salaries and wages

Leave

Superannuation

Workers’ compensation

Separations and redundancies

Other provisions

Payables

Suppliers

Trade creditors

Operating lease rentals

Grants

Overseas

Public Sector

Private sector non-profit entities

Private sector commercial entities

Other payables

Interest payable

Dividends

Prepayments received

Table 2C A:Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund for Ordinary Annual Services Appropriations¹

Particulars	Administered Expenses		Departmental Outputs	Total
Outcome 1	Outcome …'n'
2004–05 (Current period)
Balance carried from previous period
Reductions of appropriations (prior years) 2
Adjusted balance carried from previous period           [A]
Appropriation Act (No.1) 2004-20053
Appropriation Act (No.3) 2004-20054
Departmental adjustments by the Finance Minister (Appropriation Acts) 5
Comcover receipts (Appropriation Act s13)
Advance to the Finance Minister 6
Adjustment of appropriations on change of entity function (FMA s 32)
Refunds credited (net) (FMA s 30)
Appropriation reduced by section 9 determinations (current year) 7
Sub-total 2004-05 Annual Appropriation[B]
Appropriations to take account of recoverable GST (FMA s 30A) 8  [C]
Annotations to ‘net appropriations’ (FMA s 31)       [D]
Total appropriation available for payments    [A+B+C+D]
Cash payments made during the year (GST inclusive)    [E]
Appropriations credited to Special Accounts (excluding GST)  [F]
Balance of Authority to Draw Cash from the Consolidated Revenue Fund for Ordinary Annual Services Appropriations13  [A+B+C+D+E+F]
Represented by:
Cash at bank and on hand
Departmental appropriations receivable*1, 9
GST receivable from the ATO*1
Departmental appropriations receivable – drawing rights withheld by the Finance Minister (FMA s27(4))*1, 9
Formal reductions of appropriation*1, 10
Departmental appropriation receivable (appropriation for additional outputs)*1, 11
Undrawn, unlapsed administered appropriations
Total

Particulars	Administered Expenses Outcome 1   Outcome …'n'		Departmental Outputs	Total
2003–04 (Comparative period) 12
Balance carried from previous period
Appropriation Act (No.1) 2003-2004
Appropriation Act (No.3) 2003-2004
Departmental adjustments by the Finance Minister (Appropriation Acts)
Advance to the Finance Minister
Refunds credited (FMA s30)
Appropriations to take account of recoverable GST (FMA s30A)8
Annotations to ‘net appropriations’ (FMA s31)
Other cash adjustments (please describe)
Adjustment of appropriations on change of entity function (FMA s32)
Appropriation lapsed 7
Total appropriations available for payments
Payments made during the year (GST inclusive)
Appropriations credited to Special Accounts
Balance carried to the next period

Table 2C B: Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund for other than Ordinary Annual Services Appropriations¹

Particulars	Operating					Non – operating					Total
Outcome 1			Outcome…'n'
SPPs2	NAE3	SPPs2		NAE3	Equity	Loans		Previous Years’ Outputs	Admin assets and liabilities
2004–05 (Current period)
Balance carried from previous period
Reduction of appropriations (prior years) 4
Adjusted balance carried from previous period     [A]
Appropriation Act (No.2) 2004-20055
Appropriation Act (No.4) 2004-20056
Departmental Adjustments and Borrowings7
Advance to the Finance Minister 8
Adjustment of appropriations on change of entity function (FMA s32)
Refunds credited (net) (FMA s30)
Appropriation reduced by a section 11 determination (current year) 11
Sub-total 2004-05 Annual Appropriation          [B]
Appropriations to take account of recoverable GST (FMA s30A) 9  [C]
Total appropriations available for payments  [A+B+C]
Cash payments made during the year (GST inclusive)  [D]
Appropriations credited to Special Accounts (GST exclusive)  [E]
Balance of Authority to Draw Cash from the Consolidated Revenue Fund for Other Than Ordinary Annual Services Appropriations15   [A+B+C+D+E]
Represented by:
Cash at bank and on hand
Departmental appropriation receivable*1, 11
GST receivable from the ATO*1
Departmental appropriation receivable – Drawing rights withheld by the Finance Minister (FMA s27(4)) *1, 11
Formal reductions of appropriation revenue*12
Departmental appropriation receivable (appropriation for additional outputs)* 13
Undrawn, unlapsed administered appropriations
Total

Particulars	Operating					Non – operating					Total
Outcome 1			Outcome…'n'
2003–04 (Comparative period) 14
Balance carried from previous period
Appropriation Act (No.2) 2003-2004
Appropriation Act (No.4) 2003-2004
Adjustments by the Finance Minister
Advance to the Finance Minister
Refunds credited (FMA s30)
Appropriations to take account of recoverable GST (FMA s30A)
Annotations to ‘net appropriations’ (FMA s31)
Other cash adjustments (please describe)
Adjustment of appropriations on change of entity function (FMA s 32)
Appropriation lapsed10
Total appropriations available for payments
Cash payments made during the year (GST inclusive)
Appropriations credited to Special Accounts
Balance carried to the next period

Table 2C C:Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Special Appropriations (Unlimited Amount) ^{1, 2, 3}

Particulars of legislation providing appropriation (including purpose)	2005	2004
Cash payments made during the year4
Appropriations credited to Special Accounts
Refunds credited (net) (FMA s 30)
Total charged to appropriation
Budget estimate5

Table 2C D:   Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Refund Provisions^{1, 2}

Refunds: Special Appropriations3	2005	2004
Cash payments made during the year4
Appropriations credited to Special Accounts
Refunds credited (net) (FMA s30)
Total charged to special appropriation
Budget estimate5 (list each other legislative provision that refunds have been made under)
Budget estimate5 (FMA s28)

Table 2C E:Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Section 39 of the FMA Act¹

Investment of Public Money: Special Appropriations under section 39 of the FMA Act2	2005	2004
Amount invested carried from previous period
Prior year investments redeemed in current year3
Investments made during the year3, 4
Redemptions of current year investments4
Amount invested carried to the next period (sum of the above)
Budget estimate5

Table 2C F:Acquittal of Authority to Draw Cash from the Consolidated Revenue Fund - Special Appropriation (Limited Amount)^{1, 2, 3}

Particulars of legislation providing appropriation (including purpose)	2005	2004
Appropriation by type	Appropriation by type
Amount available carried from previous period
Appropriation for reporting period
Appropriations to take account of recoverable GST (FMA s30A) 4
Available for payments
Cash payments made during the year (GST inclusive)
Appropriations credited to Special Accounts
Appropriations lapsed7
Amount available carried to the next period
Represented by:
Cash
Departmental appropriation receivable* 5,6,
Undrawn, unlapsed administered appropriations
Departmental appropriation receivable – drawing rights withheld by the Finance Minister (FMA s27(4))*5,6
Total

Table 2D A:Net Cost of Outcome Delivery¹

Outcome 1		Outcome …n		Total
2005	2004	2005	2004	2005	2004
Expenses
Administered
Departmental
Total expenses
Costs recovered
Administered
Departmental
Total costs recovered
Other external revenues
Administered
Departmental
Total other external revenues
Net cost/(contribution) of outcome

Table 2D B:   Major Departmental Revenues and Expenses by Output Groups and Outputs

Outcome 1	Output Group 1.1n				Outcome
	Output 1…n		Group Total		Total
	2005	2004	2005	2004	2005	2004
Departmental expenses
Show each relevant major class
Total departmental expenses
Funded by:
Show each relevant major class of revenues
Total departmental revenues

Table 2D C:        Major Classes of Administered Revenues and Expenses by Outcome¹

Outcome 1		Outcome…’n’		Total
2005	2004	2005	2004	2005	2004
Revenues
Show each relevant major class
Expenses
Show each relevant major class

Table 2E A:Special Accounts

Full official title (eg account name)	2005	2004
Balance carried from previous period
Appropriation for reporting period
Costs recovered
GST credits (FMA s30A)
Realised investments
Other receipts (Show each major class)
Available for payments
Payments made (Show each major class)
Repayments debited from the Special Account (s 28)
Investments debited from the Special Account (FMA s39)
Balance carried to the next period
Represented by:
Cash – transferred to the Official Public Account
Cash – held by the entity
Total balance carried to the next period

Table 2E B:Special AccountsInvestment of Public Money

Full official title of Special Account: Investment of Public Money under section 39 of the FMA Act and sections 18 and 19 of the CAC Act	2005	2004
Opening balance
Investments made
Interest earned
Transaction charges
Investments realised
Closing Balance

Table 3E A:         Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment and Intangibles.

Item	Land ($’000)	Investment property ($’000)	Buildings ($’000)	Specialist military equipment ($’000)	Other infra-structure, plant and equipment    ($’000)	Heritage and cultural assets ($’000)	Computer software ($’000)	Other intangibles ($’000)
As at 1 July (previous year)
Gross book value
Accumulated depreciation
Opening Net book value
Additions:
by purchase
by finance lease
from acquisitions of entities or   operations (including restructuring)
Net revaluation increment/decrement
Reclassifications
Depreciation/amortisation expense
Recoverable amount write-downs
Other movements (give details below)
Disposals:
from disposal of entities or operations (including restructuring)
other disposals
As at 30 June (current year)
Gross Book Value
Accumulated depreciation
Closing Net Book Value

Table 3E B:         Property, Plant and Equipment and Intangibles at Valuation.

Item	Land ($’000)	Investment property ($’000)	Buildings ($’000)	Specialist military equipment ($’000)	Other infra-structure, plant and equipment ($’000)	Heritage and cultural assets ($’000)	Computer software ($’000)	Other intangibles ($’000)
As at 30 June (current year)
Gross value
Accumulated depreciation/amortisation
Closing Net book value
As at 30 June (previous year)
Gross value
Accumulated depreciation/amortisation
Closing Net book value

Table 3E C:         Property, Plant and Equipment and Intangibles Held under Finance Lease.

Item	Land ($’000)	Investment property ($’000)	Buildings ($’000)	Specialist military equipment ($’000)	Other infra-structure, plant and equipment ($’000)	Heritage and cultural assets ($’000)	Computer software  ($’000)	Other intangibles ($’000)
As at 30 June (current year)
Gross value
Accumulated deprecation/amortisation
Closing Net book value
As at 30 June (previous year)
Gross value
Accumulated deprecation/amortisation
Closing Net book value

Table 3E D:       Property, Plant and Equipment and Intangibles under Construction.

Item	Buildings ($’000)	Specialist military equipment ($’000)	Other infra-structure, plant and equipment ($’000)	Computer software ($’000)	Other intangibles ($’000)
Gross value at 30 June (current year)
Gross value at 30 June (previous year)

Table 3H:  Net Gains and Losses from Disposal of Assets

Proceeds from sale	XXX
Less written down value of assets sold, excluding capitalised selling costs	XXX
Less capitalised selling costs	XXX
Net gain (loss) on sale	XXX

Table 5B:   Analysis of Equity (Departmental)

A	B	C	D	E = B + C + D	F	G = A +E+ F
Item	Accumulated results ($’000)	Asset revaluation reserve ($’000)	Foreign currency translation reserve ($’000)	Other reserves ($’000)	Total reserves ($’000)	Contributed equity/capital ($’000)	Total Equity ($’000)
Opening balance as at 1 July
Net surplus/deficit
Net revaluation increment/(decrement)
Changes in accounting policies
Currency translation gain/(loss)
Transactions with owners:
Distributions to owner:
Returns on Capital
Dividends
Returns of Capital
Restructuring
Other (give details)
Contributions by owners:
Appropriations      (equity injections)
Other (give details below)
Restructuring
Transfers to / (from) reserves
Closing balance as at 30 June
Less: Outside Equity Interests
Total equity attributable to the Australian Government

Appendix A

Section 3: Administered Reporting

SCHEDULE OF ADMINISTERED ITEMS

2005               2004

Revenues Administered on Behalf of Government

for the period ended ___________________

Taxation

Income tax (note x)

Indirect tax (note x)

Other taxes, fees and fines (note x)

Total Taxation

Non-Taxation (Revenues from Government)

Goods and services (note x)

Interest (note x)

Dividends (note x)

Net foreign exchange gains (note x)

Revenues from sale of assets (note x)

Other sources of non-taxation revenues (note x)

Rents (note x)

Royalties (note x)

Correction of fundamental error

Total Non-Taxation

Total Revenues Administered on Behalf of Government

Expenses Administered on Behalf of Government

for the period ended _______________________

Grants (note x)

Subsidies (note x)

Personal benefits (note x)

Employees (note x)

Suppliers (note x)

Depreciation and amortisation (note x)

Write-down and impairment of assets (note x)

Value of assets sold (note x)

Net foreign exchange losses (note x)

Interest (note x)

Correction of fundamental error

Other (note x)

Extraordinary items (note x)

Total Expenses Administered on Behalf of Government

SCHEDULE OF ADMINISTERED ITEMS

2005                  2004

Assets Administered on Behalf of Government

as at ___________________

Financial Assets

Cash (note x)[Note this can include Investments including (section 39 FMA Act; section 18 CAC Act; section 19 CAC Act)]

Receivables (note x)

Investments (note x)

Investments including section 39 FMA Act; section 18 CAC Act; section 19 CAC Act

Accrued revenues

Other financial assets

Total Financial Assets

Non-Financial Assets

Land and buildings (note x)

Infrastructure, plant and equipment (note x)

Investment Properties

Heritage and cultural assets (note x)

Inventories (note x)

Intangibles (note x)

Other non-financial assets (note x)

Total Non-Financial Assets

Total Assets Administered on Behalf of the Government

Liabilities Administered on Behalf of Government

as at ___________________

Interest Bearing Liabilities

Australian Government Securities (note x)

Loans (note x)

Leases (note x)

Deposits (note x)

Overdrafts

Other (note x)

Total interest bearing liabilities

Provisions

Employees (note x)

Taxation refunds provided

Australian currency on issue

Other Provisions (note x)

Total Provisions

Payables

Suppliers (note x)

Grants and subsidies (note x)

Personal benefits payable

Taxation refunds due

Other payables (note x)

Total Payables

Total Liabilities Administered on Behalf of the Government

SCHEDULE OF ADMINISTERED ITEMS

2005                  2004

Administered Cash Flows

for the period ended _________

Operating Activities

Cash Received

Income tax

Indirect tax

Other taxes, fees and fines

Sales of goods

Rendering of services

Interest

Dividends

Other

Total Cash Received

Cash Used

Borrowing costs

Employees

Grant payments

Interest paid

Subsidies paid

Personal benefits

Suppliers

Other

Total Cash Used

Net Cash from Operating Activities

Investing Activities

Cash Received

Proceeds from sales of property, plant and equipment and intangibles

Proceeds from sales of equity instruments

Proceeds from sales of investments

Repayments of advances

Cash from Official Public Account

Transfers from other entities

Investments including section 39 FMA Act; section 18 CAC Act; section 19 CAC Act

Other

Total Cash Received

Cash Used

Purchase of property, plant and equipment and intangibles

Purchase of equity instruments

Advances and loans made

Cash to Official Public Account

Transfers to Other Entities

Investments including section 39 FMA Act; section 18 CAC Act; section 19 CAC Act

Other

Total Cash Used

Net Cash from Investing Activities

SCHEDULE OF ADMINISTERED ITEMS

Administered Cash Flows continued      2005                  2004

Financing Activities

Cash Received

Proceeds from borrowing

Cash from Official Public Account

Other

Total Cash Received

Cash Used

Net repayment of borrowings

Dividends paid

Cash to Official Public Account

Other

Total Cash Used

Net Cash from Financing Activities

Net Increase or (Decrease) in cash held

Cash at beginning of reporting period

Cash from Official Public Account for:

- Appropriations

- Special Accounts

Transfer from other entities (Finance – Whole Of Government)

Cash to Official Public Account for:

- Appropriations

- Special Accounts

Transfers to Other Entities (Finance – Whole Of Government)

Effect of exchange rate movements on cash at beginning of reporting period

Cash at End of Reporting Period

SCHEDULE OF ADMINISTERED ITEMS

Administered Commitments

as at _____________

By Type	2005	2004
Capital Commitments
Land and buildings
Infrastructure, plant and equipment
Investments
Other capital commitments
Total Capital Commitments
Other Commitments
Operating leases
Project commitments
Research and development
Other commitments
Total Other Commitments
Commitments Receivable
Net Commitments by Type
By Maturity	2005	2004
Capital Commitments
One year or less
From one to five years
Over five years
Total Capital Commitments
Operating Lease Commitments
One year or less
From one to five years
Over five years
Total Operating Lease Commitments
Other Commitments
One year or less
From one to five years
Over five years
Total Other Commitments
Net Commitments by Maturity

1

SCHEDULE OF ADMINISTERED ITEMS

Administered Contingencies

as at______________

Administered Contingent Liabilities	Guarantees		Indemnities				Uncalled shares or capital subscriptions			Claims for damages or costs		Warranties		Letters of Comfort		TOTAL
2005	2004		2005	2004		2005	2004		2005	2004	2005	2004	2005	2004	2005	2004
Balance from previous period
New
Re-measurement
Liabilities crystallised
Obligations expired
Total Contingent Liabilities
Administered Contingent Assets
2005	2004	2005			2004	2005		2004	2005	2004	2005	2004	2005	2004	2005	2004
Balance from previous period
New
Re-measurement
Assets crystallised
Expired
Total Contingent Assets
Net Contingent Liabilities

Details of each class of contingent liabilities and contingent assets, including those not included above because they cannot be quantified, or are considered remote, are shown at Note (specify number)

ADMINISTERED NOTES

2005                  2004

Revenues Administered on Behalf of Government[4]

[4] Where there are material sub-categories within a particular line item, details, including amounts, of each sub-category should be disclosed.

Taxation Revenue

Income Tax

Individuals and other withholding tax:

Gross income tax withholding

Gross other individuals

Medicare levy

Less Refunds

Total individuals and other withholding tax

External companies (including tax on realised capital gains)

Superannuation funds

Contributions and earnings (including tax on realised capital gains)

Surcharge

Total superannuation funds

Petroleum resource rent tax

Other

Total Income Tax Revenue

Indirect Tax

GST

Excise duty (includes petroleum products and crude oil)

Other excise

Total excise duty revenue

Customs duty

Total Indirect Tax Revenue

Other Taxes, Fees and Fines

Fringe benefits tax

Luxury car tax

Wine equalisation tax

Agricultural production taxes

Other taxes

Total Other Taxes, Fees and Fines Revenue

Total Taxation Revenue

Non –taxation revenue

Goods and Services

Provision of goods – related entities

Provision of goods – external entities

Rendering of services – related entities

Rendering of services – external entities

Corporations Law fees

Immigration fees

Licence fees

Operating lease rental

Other

Total Goods and Services

ADMINISTERED NOTES  2005                  2004

Interest

Loans

Overseas

State and Territory Governments

Local government

Australian Government Entities

Other loans

Leases

Deposits

Bills receivable

Other Interest

Total Interest

Dividends

International financial institutions

Australian Government Entities

Associated companies

Other companies

Total Dividends

Revenue from sales of assets

Receivables

Investments

Land and buildings

Infrastructure, plant and equipment

Heritage and cultural assets

Intangibles

Asset sales program (Finance)

Total Revenue From Sales Of Assets

Net foreign exchange gains

Speculative

Non-speculative

Total Net Foreign Exchange Gains

Other revenue

Industry contributions

Indexation of HECS loans

Gains from derivative financial instruments

Assets now recognised

Other

Total Other Revenue

Expenses Administered on Behalf of Government[5]

[5] Where there are material sub-categories within a particular line item, details, including amounts, of each sub-category should be disclosed.

Grants

State and Territory Governments

Local governments

Private sector

Overseas

Related entities

Total Grants

Subsidies

Payable to related entities

Total Subsidies

ADMINISTERED NOTES  2005                  2004

Personal Benefits

Direct

Indirect

Total Personal Benefits

Employees

Wages and salaries

Superannuation

Leave and other entitlements

Separations and redundancies

Workers compensation

Other employee expenses

Total Employees

Suppliers

Provision of goods – related entities

Provision of goods – external entities

Rendering of services – related parties

Rendering of services – external parties

Operating lease rentals

Total suppliers

Note: Where supplier’s expenses relate to the provision of employee benefits included in a remuneration package, they should be included in employee expenses.

Depreciation and Amortisation

Depreciation

Other infrastructure, plant and equipment

Specialist military equipment

Buildings

Total Depreciation

Amortisation

Assets held under finance leases

Intangibles

Computer software

Other

Total Amortisation

Write Down and Impairment of Assets

Inventory

Financial (specify each class)

Non-Financial (refer to Table A in FMO Policy 3E)

Total write down and impairment of assets

Value of Assets Sold

Receivables

Investments

Land and buildings

Infrastructure, plant and equipment

Heritage and cultural assets

Intangibles

Asset sales program (Finance)

Total Value of Assets Sold

Net Foreign Exchange Losses

Speculative

Non-speculative

Total Net Foreign Exchange Losses

ADMINISTERED NOTES  2005                  2004

Interest

Australian Government Securities

Loans Leases

Deposits

Other Interest Payments

Taxation Overpayments

Total Interest

Other Expenses

Losses from derivative financial instruments

Guarantees, undertakings and indemnities met

Total Other Expenses

Extraordinary Items

Each extraordinary item

Total Extraordinary Items

ADMINISTERED NOTES  2005                  2004

Assets Administered on Behalf of Government[6]

[6] Where there are material sub-categories within a particular line item, details, including amounts, of each sub-category should be disclosed.

Financial Assets

Cash

Special Accounts

Other

Official Public Account (Finance)

Total Cash

Receivables

Income tax

Sales tax

Excise duty

Customs duty

Goods and services tax

Other taxes, fees and fines

Recoveries of benefit payments

Advances

Loans

State and Territory

Local Governments

HECS

Other

Goods and services

Bills of exchange and promissory notes

Interest and Dividends

Other receivables

Total Receivables

Investments

Gold holdings

Deposits

Government securities

Debentures

International money fund quota

Shares

Australian Government companies

Associated companies (equity method)

Other companies

Other investments including section 39 FMA Act; section 18 CAC Act; section 19 CAC Act

Deposits

Securities of Australian Government, State and Territories

Securities guaranteed by Australian Government, State and Territories

Prescribed by the regulations

Debt instruments

Other

Other financial assets

Total Investments

Total Financial Assets

ADMINISTERED NOTES  2005                  2004

Non –Financial Assets

Land and Buildings

Land

Buildings (not integral to infrastructure)

Total Land and Buildings

Infrastructure, Plant and Equipment

Infrastructure, plant and equipment

Specialist military equipment

Other Infrastructure, plant and equipment

Total Infrastructure, Plant and equipment

Heritage and Cultural Assets

Heritage assets

Cultural assets

Total heritage and Cultural assets

Inventories

Inventories held for sale

Inventories not held for sale

Total Inventories

Intangibles

Computer software

Other intangibles

Total Intangibles

Other Non-Financial Assets

Prepayments paid

Deferred expenditure

Future income tax benefit

Other non-financial assets

Total Other Non-Financial Assets

Total Non-Financial Assets

Liabilities Administered on Behalf of Government[7]           

[7] Where there are material sub-categories within a particular line item, details, including amounts, of each sub-category should be disclosed.

Interest Bearing Liabilities

Australian Government Securities

Treasury bonds

Treasury notes

Treasury indexed bonds

Unamortised net premiums on borrowings

Other Australian Government Securities

Total Australian Government Securities

ADMINISTERED NOTES

2005               2004

Loans

Debentures and notes

Other loans

Bank loans

Non-bank loans

Bills of exchange and promissory notes

Total Loans

(Maturity schedule must be included for total loans showing amounts payable within:

One year or less;

From one to five years; and

More than five years.)

Leases

Finance lease liabilities as at the reporting date are reconciled to the lease liability as follows:

One year or less

From one to five years

More than five years

Minimum lease payments

Less future finance charges

Total Finance Lease Liabilities

Deposits

Exchange settlements Funds

Drawing accounts held with the Reserve Bank of Australia

State governments

Monies held in trust

Foreign governments

Other deposits

Total Deposits

Other Interest Bearing Liabilities

Swap principle payable

Amounts outstanding under repurchase agreements

Finance lease incentives

Special reserve- International Monetary Fund special drawing rights

Inscribed stock – face value

Other interest bearing liabilities

Total Other Interest Bearing Liabilities

Total Interest Bearing Liabilities

Provisions

Employees

Salaries and wages

Leave and other entitlements

Superannuation

Separations and redundancies

Total Employees

Other Provisions

Prepayments received

Accrued expenses

Provision for interest on overpayment of taxes

Customs rebates

Restructuring

Total Other Provisions

Total Provisions

ADMINISTERED NOTES

2005                  2004

Payables

Suppliers

Trade creditors

Operating lease rentals

Other creditors

Total Suppliers

Grants and Subsidies

Public sector –

State and Territory Governments

Local Governments

Private sector –

Non-profit entities

Commercial entities

Total Grants and Subsidies

Other Payables

Interest payable

Other payables

Total Other Payables

Total Payables

Table 3H    Net Gains and Losses from Disposal of Assets

Proceeds from sale	XXX
Less written down value of assets sold, excluding capitalised selling costs	XXX
Less capitalised selling costs	XXX
Net gain (loss) on sale	XXX

Table 6A       Administered Reconciliation Table

Note	2005	2004
Opening administered assets less administered liabilities at 1 July
Plus Administered revenues
Less Administered expenses
Administered transfers to/from Australian Government: Appropriation Transfers from OPA: Annual Appropriations Administered expenses Administered assets and liabilities Appropriations Special Appropriations (limited) Special Appropriations (unlimited) Transfers to OPA Restructuring Transfers to other Entities (Finance – Whole of Government) Transfers from other Entities (Finance – Whole of Government)
Administered revaluations taken to/from reserves
Currency translation gain/loss
Changes in accounting policies
Closing administered assets less administered liabilities