Notes 25 to 30

​DEPARTMENT OF AGRICULTURE, FISHERIES AND FORESTRY
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

for the period ended 30 June 2012

Note 25. Administered Financial Instruments


2012 2011

$'000 $'000
Note 25A: Categories of Financial Instruments    
Financial Assets

Held to maturity

Cash on hand or on deposit 423  683
Total 423 683
Available for sale:

Investment in Wine Australia Corporation (WAC)  2 035 3 343
Investment in Cotton Research and Development Corporation (CRDC)  27 317 15 595
Investment in Fisheries Research and Development Corporation (FRDC)  6 460 10 657
Investment in Grains Research and Development Corporation (GRDC)  162 229 149 793
Investment in Grape and Wine Development Corporation (GWDC)  6 376 6 012
Investment in Rural Industries Research and Development Corporation (RIRDC)  10 463 11 030
Investment in Sugar Research and Development Corporation (SRDC)  11 287 11 273
Total  226 167  207 703

Carrying amount of financial assets
 226 590  208 386

Financial Liabilities


At amortised cost:

Trade Creditors  6 713 7 577
Grants Payable  84 383 67 463
Total  91 096  75 040

Carrying amount of financial liabilities
 91 096  75 040

Note 25B: Net Income and Expense from Financial Assets

There are no net income and expense from financial assets.

Note 25C: Net Income and Expense from Financial Liabilities

There are no net income and expense from financial liabilities.

Note 25D: Fair Value of Financial Instruments

Financial assets

The net fair value of all monetary assets approximate their carrying amounts.

Financial liabilities

The net fair values of all monetary financial liabilities are approximated by their carrying amounts. Grants payable are recognised when a present obligation to another party is entered into and the amount can be reliably measured.

AASB 7 Financial Instruments: Disclosures introduced a three-level hierarchy for making fair value measurements. All of the department's financial instruments are disclosed as level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities with the exception of investments in Commonwealth Authorities. These are disclosed as level 2 - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices) (Level 2).

Note 25E: Credit Risk

The administered activities of the department are not exposed to a high level of credit risk as the majority of financial assets are trade receivables and shares in government controlled and funded entities. The department has policies and procedures that guide employees on debt recovery techniques that are to be applied.

The following table illustrates the entity's gross exposure to credit risk, excluding any collateral or credit enhancements.




2012 2011



$'000 $'000
Financial assets



Investment in Commonwealth Authorities

 226 167  207 703
Total

 226 167  207 703

Financial liabilities




Trade Creditors

 6 713  7 577
Grants

 84 383  67 463
Total

 91 096  75 040


Credit quality of financial instruments not past due or individually determined as impaired

Not past due nor impaired Not past due nor impaired Past due or impaired Past due or impaired

2012 2011 2012 2011

$'000 $'000 $'000 $'000
Investment in Commonwealth Authorities  226 167 207 703  -  -
Total  226 167  207 703  -  -


Note 25F: Liquidity Risk

The department's administered financial liabilities are trade creditors and grants payable. The exposure to liquidity risk is based on the notion that the department will encounter difficulty in meeting its obligations associated with administered financial liabilities.

This is unlikely due to appropriation funding and mechanisms available to the department, and internal policies and procedures put in place to ensure there are appropriate resources to meet its financial obligations.

Maturities for non-derivative financial liabilities 2012

On Within 1 1 to 2 2 to 5 > 5

demand year years years years Total

$'000 $'000 $'000 $'000 $'000 $'000
Trade creditors  -  6 713  -  -  -  6 713
Grants payable  -  84 383  -  -  -  84 383
Total  -  91 096  -  -  -  91 096







Maturities for non-derivative financial liabilities 2011

On Within 1 1 to 2 2 to 5 > 5

demand year years years years Total

$'000 $'000 $'000 $'000 $'000 $'000
Trade creditors  - 7 577  -  -  - 7 577
Grants payable  - 67 463  -  -  - 67 463
Total  -  75 040  -  -  -  75 040


Note 25G: Market Risk

The department holds basic financial instruments that do not expose the department to certain market risks. The department is not exposed to 'currency risk' or ‘interest rate risk’.

Other price risk

The department's administered activities are not exposed to 'other price risk'. Its administered investments are not traded on the Australian Stock Exchange. It does not hold any other financial instruments that would be exposed to price risk

Note 26. Administered Financial Assets Reconciliation



2012 2011


$'000 $'000
Financial assets Note





Total financial assets as per schedule of administered assets and liabilities
 301 483  298 280
Less: non-financial instruments components


Receivables 19B 16 398 16 445
Other financial assets 19D 58 495 73 449
Total non-financial instrument components
74 893  89 894
Total financial assets as per financial instruments note
226 590  208 386

Note 27. Appropriations

Note 27A: Annual Appropriations ('Recoverable GST exclusive')

     2012 Appropriations Appropriation
applied in 2012
(current and
prior years)
  Variance
Appropriation Act FMA Act Total
appropriation
Annual
Appropriation
Appropriations
reduced
1
AFM2 Section 30 Section 31 Section 32 3
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
DEPARTMENTAL                  
Ordinary annual services 339 805 - - 2 502 36 750 - 379 057 ( 390 886) ( 11 829)
Other services                  
Equity 14 169 - - - - - 14 169 ( 14 892) ( 723)
Total departmental 353 974 - - 2 502 36 750 - 393 226 ( 405 778) ( 12 552)
ADMINISTERED                  
Ordinary annual services                  
Administered items 265 258 ( 23 235) - 318 - - 242 341 ( 234 594) 7 747
Total administered 265 258 ( 23 235) - 318 - - 242 341 ( 234 594) 7 747

Notes:

1 Appropriation reduced under Appropriation Acts (No. 1, 3 & 5) 2011-12: sections 10, 11 and 12 and under Appropriation Acts (No. 2 & 4) 2011-12: sections 12, 13 and 14. Departmental appropriations do not lapse at financial year-end. However, the responsible Minister may decide that part or all of a departmental appropriation is not required and request that the Finance Minister reduce that appropriation. The reduction in the appropriation is effected by the Finance Minister's determination and is disallowable by Parliament. In 2012, there was no reduction in departmental and non-operating departmental appropriations.

As with departmental appropriations, the responsible Minister may decide that part of all of an administered appropriation is not required and request that the Finance Minister reduce that appropriation. For administered appropriations reduced under section 11 of Appropriation Acts (Nos.1,3 & 5) 2011–12, the appropriation is taken to be reduced to the required amount specified in Table F of this note once the annual report is tabled in Parliament. All administered appropriations may be adjusted by a Finance Minister’s determination, which is disallowable by Parliament.

2 Advance to the Finance Minister (AFM) – Appropriation Acts (No. 1, 3 & 5) 2011-12: section 13 and Appropriation Acts (No. 2 & 4) 2011-12: section 15.

3 In 2011–12 no formal reduction in revenue was recognised in accordance with FMO Division 101 under section 32 of the FMA Act.

4 The following agency spends money from the Consolidated Revenue Fund (CRF) on behalf of the department: Department of Human Services.

     2011 Appropriations  Appropriation
applied in
2011 (current
and prior
years)
 Variance
Appropriation Act FMA Act Total
appropriation
Annual
Appropriation
Appropriations
reduced
1
AFM2 Section 30 Section 31 Section 32 3
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
DEPARTMENTAL                  
Ordinary annual services 416 299 - - 3 626 46 141 ( 423) 465 643 ( 450 579) 15 064
Other services                  
Equity 1 271 - - - - - 1 271 ( 548) 723
Total departmental 417 570 - - 3 626 46 141 ( 423) 466 914 ( 451 127) 15 787
ADMINISTERED                  
Ordinary annual services                  
Administered items 228 602 ( 21 936) - 631 - ( 1 000) 206 297 ( 201 738) 4 559
Total administered 228 602 ( 21 936) - 631 - ( 1 000) 206 297 ( 201 738) 4 559

Notes:

1 Appropriations reduced under Appropriation Acts (No. 1, 3 & 5) 2010-11: sections 10, 11, 12 and 15. Appropriation Acts (No. 2 & 4) 2010-11: sections 13 and 14. Departmental appropriations do not lapse at financial year-end. However, the responsible Minister may decide that part or all of a departmental appropriation is not required and request that the Finance Minister reduce that appropriation. The reduction in the appropriation is effected by the Finance Minister's determination and is disallowable by Parliament. In 2011, there was no reduction in departmental and non-operating departmental appropriations.

As with departmental appropriations, the responsible Minister may decide that part of all of an administered appropriation is not required and request that the Finance Minister reduce that appropriation. For administered appropriations reduced under section 11 of Appropriation Acts (Nos.1&3) 2011–11, the appropriation is taken to be reduced to the required amount specified in Table F of this note once the annual report is tabled in Parliament. All administered appropriations may be adjusted by a Finance Minister’s determination, which is disallowable by Parliament.

2 Advance to the Finance Minister (AFM) – Appropriation Acts (No. 1 & 3) 2010-11: section 13 and Appropriation Acts (No. 2 & 4) 2010-11: section 15.

3 In 2010-11 a formal reduction in revenue was recognised in accordance with FMO Division 101 under section 32 of the FMA Act. The appropriation has been amended for these reductions before the end of the reporting period (refer to Note 11).

4 The following agency spends money from the Consolidated Revenue Fund (CRF) on behalf of the department: Department of Human Services. 

5 Appropriation Act No.1 2010–11 included $49 890 000 recognised in 2009–10 as a formal addition in revenue in accordance with FMO Division 101, determined by the department’s Minister.

Note 27B: Departmental and Administered Capital Budgets ('Recoverable GST exclusive')

     2012 Capital Budget Appropriations Capital Budget Appropriations applied in 2012
(current and prior years)
Variance
Appropriation Act FMA Act Total Capital
Budget
Appropriations
Payments for
non-financial
assets
3
Payments for
other
purposes
Total
payments
Annual
Capital
Budget
Appropriations
reduced
2
Section 32
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
DEPARTMENTAL                
Ordinary annual services                
Capital Budget1 11,819 - - 11,819 (17,467) - (17,467) (5,648)

Notes:

1 Departmental and Administered Capital Budgets are appropriated through Appropriation Acts (No.1, 3 &5). They form part of ordinary annual services and are not separately identified in the Appropriation Acts. For more information on ordinary annual services appropriation, please see Table A: Annual appropriations.

2 Appropriations reduced under Appropriation Acts (No. 1, 3 & 5) 2011-12: sections 10,11,12 and 15 or via a determination by the Finance Minister.

3 Payments made on non-financial assets include purchase of assets, expenditure on assets which has been capitalised, costs incurred to make good an asset to its original condition, and the capital repayment component of finance leases.

     2011 Capital Budget Appropriations Capital Budget Appropriations applied in 2011
(current and prior years)
Variance
Appropriation Act FMA Act Total Capital
Budget
Appropriations
Payments for
non-financial
assets
3
Payments for
other
purposes
Total
payments
Annual
Capital
Budget
Appropriations
reduced
2
Section 32
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
DEPARTMENTAL                
Ordinary annual services                
Capital Budget1 11 536 - - 11 536 5 888 - 5 888 5 648

Notes:

1 Departmental and Administered Capital Budgets are appropriated through Appropriation Acts (No.1,3,5). They form part of ordinary annual services and are not separately identified in the Appropriation Acts. For more information on ordinary annual services appropriation, please see Table A: Annual appropriations.

2 Appropriations reduced under Appropriation Acts (No. 1,3,5) 2010-11: sections 10,11,12 and 15 or via a determination by the Finance Minister.

3 Payments made on non-financial assets include purchase of assets, expenditure on assets which has been capitalised, costs incurred to make good an asset to its original condition, and the capital repayment component of finance leases.

Note 27C: Unspent Annual Appropriations ('Recoverable GST exclusive')

Authority 2012 2011
$'000 $'000
DEPARTMENTAL

Appropriation Act (No. 1) 2010-11

Operating -  54 012
Departmental capital budget -  5 648
Cash on hand -  4 030
Appropriation Act (No. 3) 2010-11 - 850
Appropriation Act (No. 2) 2010-11 - 723
Appropriation Act (No. 1) 2011-12

Operating  43 963 -
Cash on hand 764 -
Appropriation Act (No. 3) 2011-12  7 644
Total  52 371  65 263
ADMINISTERED

Appropriation Act (No. 1) 2010-11

Operating -  19 230
Cash on hand - 683
Appropriation Act (No. 3) 2010-11 - 869
Appropriation Act (No. 2) 2010-11 - -
Appropriation Act (No. 1) 2011-12

Operating  5 338 -
Cash on hand 423 -
Appropriation Act (No. 3) 2011-12  22 763 -
Total  28 524  20 782


Note 27D: Special Appropriations ('Recoverable GST exclusive')

Authority Type Purpose Appropriation applied
2012 2011
$'000 $'000
Australian Animal Health Council (Live-stock Industries) Funding Act 1996, s. 5, Administered Unlimited Amount An Act to direct funds to the Australian Health Council, and for related purposes ( 6 229) ( 6 254)
Australian Meat and Live-stock Industry Act 1997 s. 63(2)-payment to the industry marketing body, Administered Unlimited Amount An Act relating to the Australian meat and live-stock industry, and for related purposes ( 69 554) ( 72 619)
Australian Meat and Live-stock Industry Act 1997 s. 64(2)-payment to the industry research body, Administered Unlimited Amount An Act relating to the Australian meat and live-stock industry, and for related purposes ( 23 201) ( 23 726)
Australian Meat and Live-stock Industry Act 1997 s. 64A(2)-payment to the livestock export marketing body, Administered Unlimited Amount An Act relating to the Australian meat and live-stock industry, and for related purposes ( 2 747) ( 3 204)
Australian Meat and Live-stock Industry Act 1997 s. 64B(2)-payment to the livestock export research body, Administered Unlimited Amount An Act relating to the Australian meat and live-stock industry, and for related purposes ( 551) ( 642)
Australian Meat and Live-stock Industry Act 1997 s. 64C(2)-payment to the meat processor marketing body, Administered Unlimited Amount An Act relating to the Australian meat and live-stock industry, and for related purposes ( 6 033) ( 5 971)
Australian Meat and Live-stock Industry Act 1997 s. 64D(2)-payment to the meat processor research body, Administered Unlimited Amount An Act relating to the Australian meat and live-stock industry, and for related purposes ( 10 991) ( 10 876)
Australian Meat and Live-stock Industry Act 1997 s. 66(1)-Commonwealth contribution to industry research body, Administered Unlimited Amount An Act relating to the Australian meat and live-stock industry, and for related purposes ( 37 387) ( 38 322)
Dairy Produce Act 1986 s.6(1), Administered Unlimited Amount An Act relating to the marketing and export of dairy produce and the collection of certain levies imposed in connection with the dairy industry, and other purposes ( 48 636) ( 46 063)
Egg Industry Service Provision Act 2002 s. 8(1), Administered Unlimited Amount An Act to establish and direct funds to an industry service body (Australian Egg Corporation Limited) for the purposes of promotion and research development ( 7 936) ( 7 096)
Farm Household Support Act 1992 s. 57(3) - Exceptional Circumstances Relief Payments, Administered1 Unlimited Amount An Act relating to the provision of income support and advice for farmers, financial incentives to farmers to leave farming, and relief payments ( 5 769) ( 145 647)
Forestry Marketing and Research and Development Services Act 2007 s. 9(1) payments and matching payments to an industry services body and Commonwealth administration expenses, Administered Unlimited Amount An Act relating to service provision for the forestry industry, and for related purposes ( 8 851) ( 9 564)
Horticulture Marketing and Research and Development Services Act 2000 s. 16(9), Administered Unlimited Amount An Act to reform the provision of marketing, research and development services to the horticultural industry; an Act to establish export control of horticultural products ( 76 847) ( 80 536)
National Residue Survey Administration Act 1992 s. 7, Administered Unlimited Amount An Act to establish a Special Account for the purpose of conducting a National Residue Survey, and for related purposes ( 9 187) ( 9 442)
Pig Industry Act 2001 s. 10(1), Administered Unlimited Amount An Act to establish an industry body (Australian Pork Limited), and to direct funds to it for the purposes of marketing and research and development. ( 15 341) ( 15 612)
Plant Health Australia (Plant Industries) Funding Act 2002 s. 6, Administered Unlimited Amount An Act to direct funds to Plant Health Australia Limited, and for related purposes ( 1 616) ( 1 792)
Primary Industries and Energy Research and Development Act1989 s. 30(3) - Cotton R&D Corporation, Administered Unlimited Amount An Act to provide for the undertaking of research and development relating to primary industries, energy and natural resources, and for related purposes ( 16 536) ( 9 980)
Primary Industries and Energy Research and Development Act1989 s. 30(3) - Grains R&D Corporation - Other Grains, Administered Unlimited Amount An Act to provide for the undertaking of research and development relating to primary industries, energy and natural resources, and for related purposes ( 66 161) ( 56 840)
Primary Industries and Energy Research and Development Act1989 s. 30(3) - Grains R&D Corporation - Wheat, Administered Unlimited Amount An Act to provide for the undertaking of research and development relating to primary industries, energy and natural resources, and for related purposes ( 87 551) ( 90 145)
Primary Industries and Energy Research and Development Act1989 s. 30(3) - Grape and Wine R&D Corporation, Administered Unlimited Amount An Act to provide for the undertaking of research and development relating to primary industries, energy and natural resources, and for related purposes ( 21 766) ( 24 276)
Primary Industries and Energy Research and Development Act 1989 s.30(3) - Rural Industries R&D Corporation, Administered Unlimited Amount An Act to provide for the undertaking of research and development relating to primary industries, energy and natural resources, and for related purposes ( 7 353) ( 5 023)
Primary Industries and Energy Research and Development Act1989 s. 30(3) - Sugar R&D Corporation, Administered Unlimited Amount An Act to provide for the undertaking of research and development relating to primary industries, energy and natural resources, and for related purposes ( 11 228) ( 8 652)
Primary Industries and Energy Research and Development Act 1989 s. 30A(3) - Fisheries R&D Corporation, Administered Unlimited Amount An Act to provide for the undertaking of research and development relating to primary industries, energy and natural resources, and for related purposes ( 17 455) ( 17 746)
Wine Australia Corporation Act 1980 s. 32, Administered Unlimited Amount An Act to establish Wine Australia Corporation, and for related purpose. ( 5 547) ( 5 502)
Wool Services Privatisation Act 2000 s. 31(4), Administered Unlimited Amount An Act to privatise the Australian Wool Research and Promotion Organisation; an Act to determine Commonwealth funding for the research organisation ( 60 800) ( 55 795)
Financial Management and Accountability Act 1997 s. 28(2) - payments of refunds not elsewhere appropriated, Administered Refund To provide an appropriation where an Act or other law requires or permits the repayment of an amount received by the Commonwealth and apart from this section there is no specific appropriation for the repayment ( 1 090) ( 6 036)
Financial Management and Accountability Act 1997 s.39, National Residual Survey, Departmental, Prior year investments redeemed in current year ($17,000,000), Redemptions of current year investments (gross) (Nil). FMA Act
Section 39
Investment of Public Money ( 15 000) ( 17 000)
Total

( 641 363) (774 361)

1 The following agency spends money from the CRF on behalf of the department: Department of Human Services.

The following special appropriations had zero transactions and budgets during the reporting and comparative year:

Authority Type Purpose
Australian Meat and Live-stock Industry Act 1997 s.29, Administered Unlimited Amount An Act relating to the Australian meat and live-stock industry, and for related purposes
Australian Meat and Live-stock Industry (Repeals & Consequential Provisions) Act 1997 s.12(2) & s.50, Administered Unlimited Amounts An Act to repeal and amend certain Acts in connection with relating to the Australian meat and live-stock industry, and for related purposes
Dairy Produce Act 1986 s.84(2) & s.85(2), Administered Unlimited Amounts An Act relating to the marketing and export of dairy produce and the collection of certain levies imposed in connection with the dairy industry, and other purposes
Dairy Industry Service Reform Act 2003 s.27(4), Administered Unlimited Amount An Act relating to the dairy industry, and for related purposes
Egg Industry Service Provisions (Transitional and Consequential Provisions) Act 2002 s.15(2), Administered Unlimited Amount An Act to deal with transitional and consequential matters related to the enactment of the Egg Industry Service Provision Act 2002, and for related purposes
National Cattle Disease Eradication Account Act 1991 Schedule 5 s.21(6), Administered Unlimited Amount An Act to establish the National Cattle Disease Eradication Account, and for related purposes
Pig Industry Act 2001 s.16(4), s.17(2), s.27(4) & s.45(1), Administered Unlimited Amounts An Act to establish an industry body (Australian Pork Limited), and to direct funds to it for the purpose of marketing and research and development
Primary Industries and Energy research and Development Act 1989, s.108(2), s.155(2) & s.156(4), Administered Unlimited Amounts An Act to provide for the undertaking of research and development relating to primary industries, energy and natural resources, and for related purposes


Note 27E: Reduction in Administered Items ('Recoverable GST exclusive')

2012 Amount required3 - by Appropriation Act Total amount
required
Total amount
appropriated4
Total reduction5
Ordinary Annual Services Act (No.1)
$
Act (No.3)
$
Act (No. 5)
$
$ $ $
Outcome 1 137 186 964.29  90 068 813.18  0.00 227 255 777.47  250 060 000.00  22 804 222.53 
Outcome 2 14 767 000.00  0.00 0.00 14 767 000.00  15 198 000.00   431 000.00 

Notes:

1 Numbers in this section of the table must be disclosed to the cent.

2 Administered items for 2011–12 were reduced to these amounts when these financial statements were tabled in Parliament as part of the department's 2011–12 annual report. This reduction is effective in 2012–13, but the amounts are reflected in Table A in the 2011–12 financial statements in the column 'Appropriations reduced' as they are adjustments to 2011–12 appropriations.

3 Amount required as per Appropriation Act (Act 1 s. 11; Act 2 s. 12).

4 Total amount appropriated in 2011–12.

5 Total reduction effective in 2012–13.

2011 Amount required3 - by Appropriation Act Total amount
required
Total amount
appropriated4
Total reduction5
Ordinary Annual Services Act (No.1)
$
Act (No.3)
$
Act (No. 5)
$
$ $ $
Outcome 1 169 172 584.50  14 787 442.74  0.00 183 960 027.24  205 896 000.00  21 935 972.76 
Outcome 2 21 706 000.00  0.00  0.00 21 706 000.00  21 706 000.00   0.00

Notes:

1 Numbers in this section of the table must be disclosed to the cent.

2 Administered items for 2010–11 were reduced to these amounts when these financial statements were tabled in Parliament as part of the department's 2010–11 annual report. This reduction is effective in 2011-12, but the amounts are reflected in Table A in the 2010–11 financial statements in the column 'Appropriations reduced' as they are adjustments to 2010–11 appropriations.

3 Amount required as per Appropriation Act (Act 1 s. 11; Act 2 s. 12).

4 Total amount appropriated in 2010-11.

5 Total reduction effective in 2011-12.

Note 28. Special Accounts and FMA Act Section 39

Note 28A: Special Accounts ('Recoverable GST exclusive')

  Australian Quarantine
Inspection Service
Account
1
Australian Quarantine
Inspection Service
Special Account
2
  2012 2011 2012 2011
$'000 $'000 $'000 $'000
Balance brought forward from previous period - 13 576 80 199 -
Increases:        
Appropriation credited to special account - 237 478 189 973 18 620
Costs recovered - 233 683 292 458 23 986
Other receipts - 5 469 6 092 1 231
Transfer balance from Determination 2010/11 - - - 76 518
Total increase - 476 631 488 523 120 355
Available for payments - 490 207 568 722 120 355
Decreases:        
Departmental        
Payments made to employees - ( 264 167) ( 315 169) ( 20 782)
Payments made to suppliers - ( 138 848) ( 155 811) ( 16 703)
Payments made to grant recipients - - - ( 2 171)
Payments made to other - ( 10 674) ( 20 012) ( 500)
Investments made from the special account (FMA Act section 39) - - - -
Transfers as at 31 May 2011 balance to Determination 2010/11 - ( 76 518) - -
Total Departmental decreases - ( 490 207) ( 490 992) ( 40 156)

Total decrease
- ( 490 207) ( 490 992) ( 40 156)
Total balance carried to the next period - - 77 730 80 199
Balance made up of        
Cash to the Official Public Account - - 75 062 77 987
Cash – held by the department - - 2 668 2 212
Total balance carried to the next period - - 77 730 80 19

1Appropriation: Financial Management and Accountability Act 1997 section 20.

Purpose: for expenditure relating to the provision of quarantine and inspection services and payment of moneys to the Consolidated Revenue Fund as agreed to by the relevant Minister and Minister for Finance.

Establishing Instrument: Financial Management and Accountability Act 1997 - Determination to vary the purposes of, and amounts that may be credited to, Special Accounts (04/02/2000) F2007B00215. Note: This special account was abolished on 31 May 2011 under Financial Management and Accountability Determination 2010/10 – Australian Quarantine Inspection Service Special Account variation and abolition 2010.

2Appropriation: Financial Management and Accountability Act 1997 section 20.

Establishing Instrument: Financial Management and Accountability Determination 2010/11 – Australian Quarantine and Inspection Service Special Account Establishment 2010.

Purpose: for expenditure relating to the provision of quarantine and inspection services and payment of moneys to the Consolidated Revenue Fund as agreed to by the relevant Minister and Minister for Finance.

  National Residue
Survey Account
3
Services for Other
Governments and Non-
Agency Bodies
4
  2012 2011 2012 2011
$'000 $'000 $'000 $'000
Balance brought forward from previous period 18 418 19 755 363 495
Increases:        
Appropriation credited to special account 826 559 - -
Costs recovered 9 428 9 543 - -
Other receipts 16 088 11 061 - 2
Transfer balance from Determination 2010/11 - - - -
Total increase 26 342 21 163 - 2
Available for payments 44 760 40 918 363 497
Decreases:        
Departmental        
Payments made to employees ( 1 989) ( 1 964) - -
Payments made to suppliers ( 10 115) ( 9 385) - -
Payments made to grant recipients ( 667) - - -
Payments made to other ( 289) ( 1 151) (363) ( 134)
Investments made from the special account (FMA Act section 39) ( 15 000) ( 10 000) - -
Transfers as at 31 May 2011 balance to Determination 2010/11 - - - -
Total Departmental decreases ( 28 060) ( 22 500) ( 363) ( 134)

Total decrease
( 28 060) ( 22 500) ( 363) ( 134)
Total balance carried to the next period 16 700 18 418 - 363
Balance made up of        
Cash to the Official Public Account 1 700 1 418 - 363
Cash - held in investment 15 000 17 000 - -
Total balance carried to the next period 16 700 18 418 - -

3Appropriation: Financial Management and Accountability Act 1997 section 21.

Establishing Instrument: National Residue Survey Administration Act 1992 section 6 (1).

Purpose: for the purposes of conducting national residue surveys and to provide for collection of the NRS levy imposed by various acts.

4Appropriation: Financial Management and Accountability Act 1997 section 20.

Establishing Instrument: Financial Management and Accountability Determination 2008/15 to vary the purposes of certain Services for Other Governments and Non-agency Bodies Accounts, and Other Trust Moneys Accounts.

Purpose: for the purpose of expenditure in connection with services performed on behalf of other Governments and bodies that are not FMA Agencies.

The special account has been abolished by the Financial Management and Accountability (Abolition of 26 Special Accounts) Determination 2011/01 on 31 December 2011.

  Natural Resources
Management
6
National Cattle Disease
Eradication
5
  2012 2011 2012 2011
$'000 $'000 $'000 $'000
Balance brought forward from previous period 15 445 10 415 15 15
Increases:        
Appropriation credited to special account 36 823 34 020 - -
Costs recovered - - - -
Other receipts 742 3 845 - -
Transfer balance from Determination 2010/11 - - - -
Total increase 37 565 37 865 - -
Available for payments 53 010 48 280 15 15
Decreases:        
Departmental        
Payments made to other - - - -
Investments made from the special account - - - -
Total Departmental decreases - - - -
         
Administered        
Payments made to suppliers ( 2 994) ( 3 671) - -
Payments made to grant recipients ( 38 629) ( 29 164) - -
Payments made to other - - - -
Total administered decreases ( 41 623) ( 32 835) - -
Total decrease ( 41 623) ( 32 835) - -
Total balance carried to the next period 11 387 15 445 15 15
Balance made up of        
Cash to the Official Public Account 11 387 15 445 15 15
Total balance carried to the next period 11 387 15 445 15 15

5Appropriation: Financial Management and Accountability Act 1997 section 21.

Establishing Instrument: National Cattle Disease Eradication Act 1991 section 4.

Purpose: for the purpose of the eradication of any disease of cattle that is endemic in Australia.

6Appropriation: Financial Management and Accountability Act 1997 section 21.

Establishing Instrument: Natural Resources Management (Financial Assistance) Act 1992 section 11.

Purpose: for the purposes of granting financial assistance in connection with projects relating to natural resources management.

Forestry Fund Account (Administered)

The department has a Forestry Fund Account (Administered). This account was established under section 21 of the Financial Management and Accountability Act 1997. The establishing instrument was section 5 of the Forestry and Timber Bureau Act 1930. For the year ended 30 June 2012 the account had a nil balance (2011: Nil) and there were no transactions debited or credited to it.

The purpose of the Forestry Fund Special Account is for the furtherance of forestry.

Note 28B: Investments Made under section 39 of the FMA Act ('Recoverable GST exclusive')

2012 Balance brought forward from previous period Investments made Investment income Transactional charges Investments realised Total balance carried to the next period
$'000 $'000 $'000 $'000 $'000 $'000
Financial Management and Accountability Act 1997 s. 39 – National Residual Survey, Departmental 17 000 15 000 1 072 - 18 072 15 000

 

2011 Balance brought forward from previous period Investments made Investment income Transactional charges Investments realised Total balance carried to the next period
$'000 $'000 $'000 $'000 $'000 $'000
Financial Management and Accountability Act 1997 s. 39 – National Residual Survey, Departmental 18 500 17 000 1 044 - 19 544 17 000

Overview of Investment Policy

The National Residue Survey is a Special Account under section 20 of the Financial Management and Accountability Act 1997, with the operative legislation being the National Residue Survey Administration Act 1992. The National Residue Survey is permitted to invest monies standing to the credit of the account through a delegation under section 39 of the Financial Management and Accountability Act 1997, and its related regulations and determinations. This special account is predominantly invested in 12 months term deposits.

Note 29. Compensation and Debt Relief


2012 2011

$ $
Departmental

No ‘Act of Grace’ expenses were incurred during the reporting period (2011: Nil).
 - -
No waivers of amounts owing to the Australian Government were made pursuant to subsection 34(1) of the Financial Management and Accountability Act 1997 (2011: Nil).  
-

-
Six waivers of amounts owing to the Australian Government were made pursuant to section 86E (2H) of the Quarantine Act 1908 (2011: Two).
( 880)

( 1 729)
One waiver of amounts owing to the Australian Government were made pursuant to section 49 of the Export Control (Fees) Orders 2001 (2011: Three).
( 102 927)

( 9 295)
Eight waivers of amounts owing to the Australian Government were made pursuant to Regulation 6 of the Export Inspection and Meat Charges Collections Regulations 1985 (2011: 57).
( 27 641)

( 26 540)
One payment was provided under the Compensation for Detriment caused by Defective Administration (CDDA) Scheme during the reporting period. (2011: Two payments).
( 2 138)

( 4 397)

Administered

 
11 ‘Act of Grace’ expenses were incurred during the reporting period (2011: Nil). (1 572 587)  
-
No waivers of amounts owing to the Australian Government were made pursuant to subsection 34(1) of the Financial Management and Accountability Act 1997.(2011: Nil).

-
 
-
No payments were provided under the Compensation for Detriment caused by Defective Administration (CDDA) Scheme during the reporting period (2011: Nil).  
-
 
-
No ex-gratia payments were provided for during the reporting period (2011: Nil).  -  -
Two waivers of amounts owing to the Australian Government were made pursuant to Clause 107 of the Dairy Produce Act 1986 (2011: 15).
( 316)

(6 939)
703 waivers of amounts owing to the Australian Government were made pursuant to section 16 of the Primary Industries Levies and Charges Act 1991 (2011: 682).
( 149 072)

(265 021)

Note 30. Assets Held in Trust

Monetary assets

Financial assets held in trust were disclosed in Note 28. Special accounts in the table titled ‘Services for Other Government and Non-Agency Bodies (Departmental).

Assets held in trust are contributions for the purpose of expenditure in connection with services performed on behalf of other Governments and bodies that are not FMA agencies. These monies are not available for other purposes of the department and are not recognised in the financial statements. These assets are reported as assets held in trust, within this note.

Non-monetary assets

The department has no non-monetary assets held in trust in both the current and prior years.


2012 2011

$'000 $'000
Services for Other Governments and Non-Agency Bodies Account - Monetary Assets

Total amount held at the beginning of the reporting period 363 495
Receipts  - 2
Payments (363) ( 134)
Total amount held at the end of the reporting period - 363

Total
- 363
Last reviewed: 4 November 2019
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