territorial financial statements - community services · notes to and forming part of the...

SE

CTIO

N A

3

103A.3 Territorial Financial Statements

A.3Territorial Financial Statements

Community Services Directorate

TERRITORIAL FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 June 2014

The following pages 104 to 125 contain electronic pdfs of the Community Services Directorate Territorial Financial Statements for the year ended 30 June 2014. If you require an alternative format of this document contact 6205 0619.

104 Community Services Directorate—Annual Report 2013–14

Community Services DirectorateStatement of Income and Expenses on Behalf of the Territory

For the Year Ended 30 June 2014

Note Actual Original

Budget Actual No. 2014 2014 2013

$'000 $'000 $'000 IncomePayment for Expenses on Behalf of the Territory 42 22,117 19,633 20,670 Community Service Obligations 42 24,568 23,216 23,458

Total Income 46,685 42,849 44,128

ExpensesGrants and Purchased Services 43 24,568 23,216 23,458 Other Expenses 44 22,117 19,633 20,670

Total Expenses 46,685 42,849 44,128

Operating Surplus/(Deficit) - - -

The above Statement of Income and Expenses on Behalf of the Territory should be read inconjunction with the accompanying notes.

Community Services Directorate has four Output Classes in the Controlled FinancialStatements, however the Territorial program is only attributable to Output Class 3 - CommunityParticipation. Therefore, a separate Disaggregated Income and Expense note has not beenincluded in these financial statements.

SE

CTIO

N A

3


Community Services DirectorateStatement of Assets and Liabilities on Behalf of the Territory

As at 30 June 2014



$'000 $'000 $'000 Current AssetsCash and Cash Equivalents 47 120 18 9 Receivables 48 5,308 5,800 8,268 Total Current Assets 5,428 5,818 8,277 Total Assets 5,428 5,818 8,277

Current LiabilitiesPayables 49 5,428 5,818 8,277 Total Current Liabilities 5,428 5,818 8,277 Total Liabilities 5,428 5,818 8,277 Net Assets - - -

EquityAccumulated Funds - - - Total Equity - - -

The above Statement of Assets and Liabilities on Behalf of the Territory should be read inconjunction with the accompanying notes.

Net Assets and Total Equity have remained at nil. Therefore a Statement of Changes in Equity on behalf of the Territory has not been provided.


Community Services DirectorateStatement of Changes in Equity on Behalf of the Territory


Accumulated Total Funds Equity Original Actual Actual Budget

2014 2014 2014 $'000 $'000 $'000

Balance at 1 July 2013 - - -

Comprehensive IncomeOperating Surplus/(Deficit) - - - Total Comprehensive Income - - -

Balance at 30 June 2014 - - -

Accumulated Total Funds Equity Original Actual Actual Budget

2013 2013 2013 $'000 $'000 $'000

Balance at 1 July 2012 Period - - -

Comprehensive IncomeOperating Surplus/(Deficit) - - - Total Comprehensive Income - - -

The above Statement of Recognised Income and Expense on Behalf of the Territory should be read inconjunction with the accompanying notes.

SE

CTIO

N A

3


Community Services DirectorateCash Flow Statement on Behalf of the Territory




$'000 $'000 $'000 Cash Flows from Operating ActivitiesReceiptsCash from Government for Expenses on Behalf of the Territory 23,280 19,595 18,724 Community Service Obligations 26,368 23,254 22,934 Other 36 604 29 Total Receipts from Operating Activities 49,684 43,453 41,687 PaymentsGrants and Purchased Services 26,238 23,218 22,927 Other 23,335 20,235 18,769 Total Payments from Operating Activities 49,573 43,453 41,696 Net Cash Inflows/(Outflows) from Operating Activities 50 111 - (9)

Cash Flows from Investing ActivitiesPaymentsPurchase of Property, Plant and Equipment - - - Total Payments from Investing Activities - - - Net Cash (Outflows) from Investing Activities - - -

Cash Flows from Financing ActivitiesReceiptsCapital Injections - - - Total Receipts from Financing Activities - - - Net Cash Inflows from Financing Activities - - -

Net Increase/(Decrease) in Cash and Cash Equivalents Held 111 - (9) Cash and Cash Equivalents at Beginning of the Reporting Period 9 18 18

Cash and Cash Equivalents at the End of the Reporting Period 47 120 18 9

The above Cash Flow Statement on Behalf of the Territory should be read in conjunction with theaccompanying notes.


Original Total Appropriation AppropriationBudget Appropriated Drawn Drawn

2014 2014 2014 2013Territorial $'000 $'000 $'000 $'000

Expenses on behalf of the Territory/Community Service Obligations 42,849 51,691 49,648 41,658 Total Territorial Appropriation 42,849 51,691 49,648 41,658

Column Heading Explanations

These amounts appear in the Cash Flow Statement on Behalf of the Territory.

For Disclosure Purposes Only Original Total Appropriation AppropriationBudget Appropriated Drawn Drawn

2014 2014 2014 2013$'000 $'000 $'000 $'000

TerritorialExpenses on Behalf of the Territory (i) 19,611 24,310 23,316 18,724 Community Service Obligations (ii) 23,238 27,381 26,368 22,934 Total Territorial Appropriation 42,849 51,691 49,684 41,658

The Original Budget column shows the amounts that appear in the Cash Flow Statement in theBudget Papers.

Community Services DirectorateTerritorial Statement of Appropriation


The above Territorial Statement of Appropriation should be read in conjunction with the accompanyingnotes.

The Total Appropriated column is inclusive of all appropriation variations occurring after the OriginalBudget. The Appropriation Drawn is the total amount, which was received by the Directorate during the year inAppropriation.

SE

CTIO

N A

3


Variances between 'Original Budget' and 'Total Appropriated'(i) Expenses on Behalf of the Territory

(ii) Community Service Obligations

Variances between 'Total Appropriated' and 'Appropriation Drawn'(i) Expenses on Behalf of the Territory

(ii) Community Service Obligations

Funds required to meet payments for concessions were less than anticipated. As a result, theappropriation was not fully drawn down.

Funds required to meet payments for community service obligations were less than anticipated. As aresult, the appropriation was not fully drawn down.

The variance between Original Budget and Total Appropriated relates to a Treasurer's Advance for theACT Concessions Program ($2.000m), additional funding to meet the increase in eligible recipientsand in the volume of claims from the Concession Program ($3.440m), transfer of the Canberra GoldCard Funding from the Territory and Municipal Services Directorate ($0.150m), and the rollover offunds from 2012-13 ($0.508m) offset by a transfer to controlled appropriation ($1.400m).

The variance between Original Budget and Total Appropriated for Community Service Obligationsrelates to additional funding to meet the increase in eligible recipients and in the volume of claimsfrom the Concession Program ($4.038m) and an increase in funding from the Commonwealth($0.106m).

Community Services DirectorateTerritorial Statement of Appropriation - Continued



Note 41 Summary of Significant Accounting Policies

Income NotesNote 42 Payment for Expenses on Behalf of the Territory

Expense NotesNote 43 Grants and Purchased Services Note 44 Other ExpensesNote 45 Act of Grace Payments Note 46 Waivers, Impairment Losses and Write-Offs

Asset NotesNote 47 Cash and Cash EquivalentsNote 48 Receivables

Liabilities NotesNote 49 Payables

Other NotesNote 50 Cash Flow Reconciliation Note 51 Financial Instruments Note 52 CommitmentsNote 53 Contingent Liabilities and Contingent Assets Note 54 Events Occurring After Balance Date

Community Services DirectorateTerritorial Note Index of the Financial Statements


SE

CTIO

N A

3


Community Services DirectorateNotes to and Forming Part of the Territorial Financial Statements


NOTE 41. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Community Service Directorate's accounting policies are contained in Note 2 Summaryof Significant Accounting Policies. The policies outlined in Note 2 apply to both theControlled and Territorial financial statements.




NOTE 42. PAYMENT FOR EXPENSES ON BEHALF OF THE TERRITORY

2014 2013$'000 $'000

Payment for Expenses on Behalf of the Territory 22,117 20,670 Community Service Obligations (CSO) 24,568 23,458 Total Payment for Expenses on Behalf of the Territory 46,685 44,128

Payment of Expenses on Behalf of the TerritoryConcession Payments:

- General Rates a 8,664 7,813 - Motor Vehicle Registrations and Licences b 4,120 3,761 - Pensioner Transport c 7,673 7,188 - Spectacle / Senior Spectacle Scheme d 1,458 1,684 - Government Assisted Transport Scheme e 202 224

22,117 20,670 Community Service Obligations

- Electricity and Gas f 12,146 10,717 - Water and Sewerage g 10,715 11,450 - Taxi Subsidy Scheme h 1,513 1,182 - Funeral Assistance Program i 194 109

24,568 23,458 Total Payment for Expenses on Behalf of the Territory 46,685 44,128

Under the Financial Management Act 1996 , funds can be appropriated for expensesincurred on behalf of the Territory. The Community Services Directorate receives thisappropriation to fund expenses incurred on behalf of the Territory, being the payment ofconcessions.

a) The increase in concession payments for General Rates reflects the 10% increase in themaximum concession per property from $565 in 2012-13 to $622 in 2013-14.

c) Pensioner Transport concessions relate to rebates offered to eligible pensioners fortransport using ACTION and Deane's Buslines. Higher expenditure is due to fare increasesof 5% in February 2013 and 7.5% in December 2013, together with an increase in thenumber of concession card holders.

b) The increase in Motor Vehicle Registrations and Licences is due to a higher number ofeligible concession holders accessing this concession and a rise in registration and licencefees from 1 July 2013.

SE

CTIO

N A

3




g) Water and Sewerage Community Service Obligations relate to rebates provided to eligibleindividuals, schools and benevolent institutions. The lower payments reflect an 18%decrease in the supply and services fee for Sewerage, partially offset by a 4% increase in theWater price from 1 July 2013 as determined by the Independent Competition and RegulatoryCommission's (ICRC) effective from 1 July 2013. The water and sewerage concessionremains at 68% of the supply and service fee.

f) The higher Electricity and Gas Community Service Obligations is due to a 4% increase inthe number of eligible concession holders and an increase in the Utility and Energyconcession of approximately 4%.

i) The Funeral Assistance Program provides welfare payments to assist people in financialhardship and who cannot afford to meet the cost of funerals for immediate family members.The assistance is provided through a panel of providers to individuals who meet the eligibilitycriteria. The number of funerals arranged increased from 26 in 2012-13 to 35 during2013-14.

h) The Taxi Subsidy Scheme assists people who have a severe disability that prevents themusing public transport for a minimum period of 6 months. The scheme provides a subsidytowards the cost of taxi transport. The introduction of the Smartcard system during 2013-14has made it easier for concession card holders to access this scheme. This together with ageneral increase in taxi fares has contributed to the increased expenditure this financial year.

d) The lower concession payments for the Spectacle Scheme is due to a decrease in thenumber of eligible concession holders accessing the scheme.

NOTE 42. PAYMENT FOR EXPENSES ON BEHALF OF THE TERRITORY - Continued

e) The decrease in Government Assisted Transport Scheme student concession paymentsis due to fewer students accessing the concession.




NOTE 43. GRANTS AND PURCHASED SERVICES

2014 2013$'000 $'000

Community Service Obligations 24,568 23,458 Total Grants and Purchased Services 24,568 23,458

Community Service Obligations- Electricity and Gas a 12,146 10,717 - Water and Sewerage b 10,715 11,450 - Taxi Subsidy Scheme c 1,513 1,182 - Funeral Assistance Program d 194 109

24,568 23,458

c) The Taxi Subsidy Scheme assists people who have a severe disability that preventsthem using public transport for a minimum period of 6 months. The scheme provides asubsidy towards the cost of taxi transport. The introduction of the Smartcard systemduring 2013-14 has made it easier for concession card holders to access this scheme.This together with a general increase in taxi fares has contributed to the increasedexpenditure this financial year.

b) Water and Sewerage Community Service Obligations relate to rebates provided toeligible individuals, schools and benevolent institutions. The lower payments reflect an18% decrease in the supply and services fee for Sewerage, partially offset by a 4%increase in the Water price from 1 July 2013 as determined by the IndependentCompetition and Regulatory Commission's (ICRC) effective from 1 July 2013. The waterand sewerage concession remains at 68% of the supply and service fee.

a) The higher Electricity and Gas Community Service Obligations is due to a 4%increase in the number of eligible concession holders and an increase in the Utility andEnergy concession of approximately 4%.

Grants are amounts provided by the Directorate to ACT Government and non-ACTGovernment entities for general assistance or for a particular purpose. Grants may befor capital or recurrent purposes and the name or category reflects the use of the grant.The grants given are usually subject to terms and conditions set out in the contract,correspondence, or by legislation.

d) The Funeral Assistance Program provides welfare payments to assist people infinancial hardship and who cannot afford to meet the cost of funerals for immediatefamily members. The assistance is provided through a panel of providers to individualswho meet the eligibility criteria. The increase is due to the number of funerals arrangedincreasing from 26 in 2012-13 to 35 during 2013-14.

SE

CTIO

N A

3




NOTE 44. OTHER EXPENSES 2014 2013$'000 $'000

Other Expenses 22,117 20,670 Total Other Expenses 22,117 20,670

Subsidies and Concessions- General Rates a 8,664 7,813 - Motor Vehicle Registration and Licences b 4,120 3,761 - Pensioner Transport c 7,673 7,188 - Spectacle / Senior Spectacle Scheme d 1,458 1,684 - Government Assisted Transport Scheme e 202 224

22,117 20,670

NOTE 45. ACT OF GRACE PAYMENTS

NOTE 46. WAIVERS, IMPAIRMENTS LOSSES AND WRITE-OFFS

There were no waivers, impairment losses or write-offs made during the reporting periodor in the previous financial year.

c) Pensioner Transport concessions relate to rebates offered to eligible pensioners fortransport using ACTION and Deane's Buslines. Higher expenditure is due to fareincreases of 5% in February 2013 and 7.5% in December 2013, together with anincrease in the number of concession card holders.d) The lower concession payments for the Spectacle Scheme is due to a decrease in thenumber of eligible concession holders accessing the scheme.

There were no Act of Grace payments made during the 2013-14 reporting period or in theprevious financial year pursuant to Section 130 of the Financial Management Act 1996(FMA).

e) The decrease in Government Assisted Transport Scheme student concessionpayments is due to fewer students accessing the concession.

a) The increase in concession payments for General Rates reflects the 10% increase inthe maximum concession per property from $565 in 2012-13 to $622 in 2013-14.b) The increase in Motor Vehicle Registrations and Licences is due to a higher number ofeligible concession holders accessing this concession and a rise in registration andlicence fees from 1 July 2013.


NOTE 47. CASH AND CASH EQUIVALENTS

2014 2013$'000 $'000

Cash at Bank 120 9 Total Cash and Cash Equivalents 120 9

NOTE 48. RECEIVABLES 2014 2013$'000 $'000

Current ReceivablesTrade Debtors 10 7 Accrued Revenue a 5,298 8,261 Total Receivables 5,308 8,268

Ageing of Receivables

Not Overdue

Less than 30 Days

30 to 60 Days

Greater than

60 Days Total$'000 $'000 $'000 $'000 $'000

2014Not Impaired1

Receivables 5,308 - - - 5,308 ImpairedReceivables - - - - -

2013Not Impaired1

Receivables 8,268 - - - 8,268 ImpairedReceivables - - - - -

1) "Not Impaired" refers to Net Receivables (that is Gross Receivables less Impaired Receivables)

Past Due



The Directorate holds a bank account with the Westpac Banking Corporation as part of the whole-of-government banking arrangements.

a) Accrued Revenue largely relates to Community Service Obligations for utility rebates and transport concessions to be paid in 2014-15.

SE

CTIO

N A

3




NOTE 48. RECEIVABLES - Continued

2014 2013$'000 $'000

Receivables with ACT Government EntitiesAccrued Revenue (Territory Banking Account) 5,298 8,261 Total Receivables with ACT Government Entities 5,298 8,261

Receivables with Non-ACT Government EntitiesReceivables (Interstate Taxi Subsidy Scheme Concessions) 10 7 Total Receivables with Non-ACT Government Entities 10 7 Total Receivables 5,308 8,268

Classification of ACT Government/Non-ACT Government Receivables




NOTE 49. PAYABLES 2014 2013$'000 $'000

Current PayablesTrade Payables - 1,623 Other Payables 316 4,540 Accrued Expenses 5,112 2,114 Total Payables 5,428 8,277

Payables are aged as follows:Not Overdue 5,428 8,277 Total Payables 5,428 8,277

Classification of ACT Government/Non-ACT Government PayablesPayables with ACT Government EntitiesOther Payables 263 4,098 Accrued Expenses 4,356 1,920 Total Payables with ACT Government Entities 4,619 6,018 Payables with Non-ACT Government EntitiesTrade Payables - 1,623 Other Payables 53 441 Accrued Expenses 756 195 Total Payables with Non-ACT Government Entities 809 2,259 Total Payables 5,428 8,277

SE

CTIO

N A

3




NOTE 50. CASH FLOW RECONCILIATION

2014 2013$'000 $'000

Total Cash disclosed on the Statement of Assets and Liabilities on Behalf of the Territory 120 9 Cash at the End of the Reporting Period as Recorded in the Cash Flow Statement on behalf of the Territory 120 9

Operating Surplus/(Deficit) - - Cash Before Changes in Operating Assets and Liabilities - -

Changes in Operating Assets and LiabilitiesIncrease/(Decrease) in Receivables 2,960 (2,469) (Decrease)/Increase in Payables (2,849) 2,460 Net Changes in Operating Assets and Liabilities 111 (9)

Net Cash Inflows/(Outflows) from Operating Activities 111 (9)

a) Reconciliation of Cash and Cash Equivalents at the End of the Reporting Period in the Cash Flow Statement on Behalf of the Territory to the Related Items in the Statement of Assets and Liabilities on Behalf of the Territory.

b) Reconciliation of Net Cash Inflows from Operating Activities to the Operating Surplus/(Deficit)




NOTE 51. FINANCIAL INSTRUMENTS

Interest Rate Risk

Sensitivity Analysis

Credit Risk

There have been no changes in credit risk exposure since the last reporting period.

Cash and cash equivalents are held with the Westpac Banking Corporation, a high credit,quality financial institution, in accordance with whole of ACT Government bankingarrangements and the Directorate holds no investments.

A significant proportion of the Directorate's Territorial receivables are from theACT Government which means that the credit risk for these receivables is low. TheDirectorate reviews outstanding debtors on a monthly basis and if any are unresolved theyare referred to the ACT Government Solicitor's Office for legal action. Credit risk istherefore considered low.

Details of the significant accounting policies and methods adopted, including the criteriafor recognition, the basis of measurement, and the basis on which income and expensesare recognised, with respect to each class of financial asset and financial liability aredisclosed in Note 41 Summary of Significant Accounting Policies - Territorial.

The Directorate is considered to have insignificant exposure to interest rate risk, as itholds only cash and cash equivalents with the Westpac Banking Corporation, thatgenerate minimal or no interest, and receivables and payables are non-interest bearing.

Credit risk is the risk that one party to a financial instrument will fail to discharge anobligation and cause the other party to incur a financial loss.Financial assets consist of cash and cash equivalents and receivables. The Directorate'scredit risk is limited to the carrying amount of the financial assets it holds net of anyallowance made for impairment.

Interest rate risk is the risk that the fair value or future cash flows of a financial instrumentwill fluctuate because of changes in market interest rates.

There have been no changes in risk exposure or processes for managing risk since thelast financial reporting period.

A sensitivity analysis has not been undertaken as the Directorate is not exposed tointerest rate risk.

SE

CTIO

N A

3




NOTE 51. FINANCIAL INSTRUMENTS - Continued

Liquidity Risk

Price Risk

Fair Value of Financial Assets and Liabilities

Carrying Amount

Fair Value

Carrying Amount

Fair Value

2014 2014 2013 2013 $'000 $'000 $'000 $'000

Financial AssetsCash and Cash Equivalents 120 120 9 9 Receivables 5,308 5,308 8,268 8,268 Total Financial Assets 5,428 5,428 8,277 8,277

Financial LiabilitiesPayables 5,428 5,428 8,277 8,277 Total Financial Liabilities 5,428 5,428 8,277 8,277

Fair Value Hierarchy

The Directorate's financial assets and liabilities are measured, subsequent to initialrecognition, at amortised cost and as such are not subject to the Fair Value Hierarchy.

The carrying amounts and fair values of financial assets and liabilities at balance date are:

The Directorate's exposure to liquidity risk and the management of this risk has notchanged since the previous reporting period.

Price risk is the risk that the fair value or future cash flows of a financial instrument willfluctuate because of changes in market prices, whether these changes are caused byfactors specific to the individual financial instrument or its issuer, or factors affecting allsimilar financial instruments traded in the market.

The Directorate does not have Territorial financial assets that are subject to price risk.Accordingly, a sensitivity analysis has not been undertaken.

Liquidity risk is the risk that the Directorate will encounter difficulties in meeting obligationsassociated with financial liabilities that are settled by delivering cash or another financialasset. To limit its exposure to liquidity risk, the Directorate ensures that at any particularpoint in time it has a sufficient amount of current financial assets to meet its currentfinancial liabilities. Also, where necessary, the Directorate can request additionalappropriation in order to meet its Territorial payables. This ensures the Directorate hasenough liquidity to meet its emerging financial liabilities.


Com

mun

ity S

ervi

ces

Dire

ctor

ate

Not

es to

and

For

min

g Pa

rt o

f the

Ter

ritor

ial F

inan

cial

Sta

tem

ents

For t

he Y

ear E

nded

30

June

201

4

NO

TE 5

1.

FIN

ANC

IAL

INST

RU

MEN

TS -

Con

tinue

d

Fixe

d In

tere

st M

atur

ing

in:

2014

Not

e N

o.

Wei

ghte

d Av

erag

e In

tere

st

Floa

ting

Inte

rest

R

ate

1 Y

ear

or L

ess

Ove

r 1

to 5

Ye

ars

Mor

e th

an 5

Ye

ars

Non

-In

tere

st

Bea

ring

Tota

lR

ate

$'0

00

$'0

00

$'0

00

$'0

00

$'0

00

$'0

00

Fina

ncia

l Ass

ets

Cas

h47

-

-

-

-

12

0

120

Rec

eiva

bles

48-

-

-

-

5,30

8

5,

308

To

tal F

inan

cial

Ass

ets

-

-

-

-

5,

428

5,42

8

Wei

ghte

d A

vera

ge In

tere

st R

ate

Fina

ncia

l Lia

bilit

ies

Pay

able

s49

-

-

-

-

5,

428

5,42

8

Tota

l Fin

anci

al L

iabi

litie

s-

-

-

-

5,42

8

5,

428

Wei

ghte

d A

vera

ge In

tere

st R

ate

Net

Fin

anci

al A

sset

s/(L

iabi

litie

s)-

-

-

-

-

-

The

follo

win

gta

ble

sets

outt

heD

irect

orat

e's

mat

urity

anal

ysis

for

finan

cial

asse

tsan

dlia

bilit

ies

asw

ella

sth

eex

posu

reto

inte

rest

rate

s,in

clud

ing

the

wei

ghte

dav

erag

ein

tere

stra

tes

bym

atur

itype

riod

asat

30Ju

ne20

14.

All

finan

cial

asse

tsan

dlia

bilit

ies

whi

char

eno

n-in

tere

stbe

arin

gw

illm

atur

ein

1ye

aror

less

.A

llam

ount

sap

pear

ing

inth

efo

llow

ing

mat

urity

anal

ysis

are

show

n on

an

undi

scou

nted

cas

h flo

w b

asis

.

SE

CTIO

N A

3


Com

mun

ity S

ervi

ces

Dire

ctor

ate

Not

es to

and

For

min

g Pa

rt o

f the

Ter

ritor

ial F

inan

cial

Sta

tem

ents

For t

he Y

ear E

nded

30

June

201

4

NO

TE 5

1.

FIN

ANC

IAL

INST

RU

MEN

TS -

Con

tinue

d

Fixe

d In

tere

st M

atur

ing

in:

2013

Not

e N

o.

Wei

ghte

d Av

erag

e In

tere

st

Floa

ting

Inte

rest

R

ate

1 Y

ear

or L

ess

Ove

r 1

to 5

Ye

ars

Mor

e th

an 5

Ye

ars

Non

-In

tere

st

Bea

ring

Tota

lR

ate

$'0

00

$'0

00

$'0

00

$'0

00

$'0

00

$'0

00

Fina

ncia

l Ass

ets

Cas

h47

-

-

-

-

9

9

R

ecei

vabl

es48

-

-

-

-

8,

268

8,26

8

Tota

l Fin

anci

al A

sset

s-

-

-

-

8,27

7

8,

277

Wei

ghte

d A

vera

ge In

tere

st R

ate

Fina

ncia

l Lia

bilit

ies

Pay

able

s49

-

-

-

-

8,

277

8,27

7

Tota

l Fin

anci

al L

iabi

litie

s-

-

-

-

8,27

7

8,

277

Wei

ghte

d A

vera

ge In

tere

st R

ate

Net

Fin

anci

al A

sset

s/(L

iabi

litie

s)-

-

-

-

-

-

The

follo

win

gta

ble

sets

outt

heD

irect

orat

e's

mat

urity

anal

ysis

for

finan

cial

asse

tsan

dlia

bilit

ies

asw

ella

sth

eex

posu

reto

inte

rest

rate

s,in

clud

ing

the

wei

ghte

dav

erag

ein

tere

stra

tes

bym

atur

itype

riod

asat

30Ju

ne20

13.

All

finan

cial

asse

tsan

dlia

bilit

ies

whi

char

eno

n-in

tere

stbe

arin

gw

illm

atur

ein

1ye

aror

less

.A

llam

ount

sap

pear

ing

inth

efo

llow

ing

mat

urity

anal

ysis

are

show

n on

an

undi

scou

nted

cas

h flo

w b

asis

.




NOTE 51. FINANCIAL INSTRUMENTS - Continued

2014 2013 $'000 $'000

Financial AssetsLoans and Receivables Measured at Amortised Cost 5,308 8,268

Financial LiabilitiesFinancial Liabilities Measured at Amortised Cost 5,429 8,277

Carrying Amount of Each Class of Financial Asset and Financial Liability

The Directorate does not have any Territorial financial assets in the 'Financial Assets atFair Value through Profit and Loss' category, 'Available for Sale' category or the 'Held toMaturity' category and as such these categories are not included above. TheDirectorate also does not have any Territorial financial liabilities in the 'FinancialLiabilities at Fair Value through Profit and Loss' category and, as such, this category isnot included above.

SE

CTIO

N A

3




NOTE 52. COMMITMENTS

Other Commitments

2014 2013$'000 $'000

Within One Year - Community Service Obligations - 23,307 Within One Year - Other Concessions - 23,827 Total Other Commitments a - 47,134

All amounts shown in the commitment note are inclusive of GST.

There were no contingent liabilities or contingent assets as at 30 June 2014.

There were no indemnities as at 30 June 2014.

NOTE 54. EVENTS OCCURRING AFTER BALANCE DATE

NOTE 53. CONTINGENT LIABILITIES AND CONTINGENT ASSETS

a) The are no future Territorial Commitments due to the transfer of the ConcessionProgram from Community Services Directorate to the Chief Minister, Treasury andEconomic Development Directorate (see note 54 - Events Occurring After BalanceDate).

Other commitments contracted at reporting date mainly relate to community serviceobligations that have not been recognised as liabilities payable for general rates,electricity, water and sewerage, bus transport, spectacle scheme, taxi subsidy schemeand motor vehicle and licences rebates:

There were no other events that occurred after balance date that would affect theFinancial Statements in the current or future reporting periods.

a) From 1 July 2014, responsibility for the Concessions Program will transfer from theDirectorate to the Chief Minister, Treasury and Economic Development Directorate.The Territorial Appropriation that will transfer is $45.092m in 2014–15.

territorial financial statements - community services · notes to and forming part of the...

Documents