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Note 11: Restructuring

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2015 2014
Arts and Cultural Development Indigenous Programs and Functions
$'000 $'000 $'000 $'000
Functions assumed
Assets recognised
Cash and cash equivalents 1,192
Special accounts 3,896
Trade receivables 597
Appropriation receivable 5,898
Land and buildings 86
Property, plant and equipment 37,524
Intangibles 140
Prepayments 132
Total assets recognised 49,465
Liabilities recognised
Suppliers (303)
Other payables (2,126)
Employee provisions (5,439)
Other provisions (33)
Total liabilities recognised (7,901)
Net assets recognised 1 41,564
Income assumed
Recognised by the Department of Regional Australia, Local Government, Arts and Sport 1,330
Total income assumed 1,330
Expenses assumed
Recognised by the Department of Regional Australia, Local Government, Arts and Sport 7,187
Total expenses assumed 7,187
Functions relinquished
Assets relinquished
Trade receivables
Appropriation receivable 825
Work in progress
Property, plant and equipment
Intangibles
Total assets relinquished 825
Liabilities relinquished
Income in advance
Employee provisions (825)
Total liabilities relinquished (825)
Net assets relinquished

1 The net assets assumed from all entities were nil (2013-14: $41.564m).

Note 11B: Administered restructuring

2015 2014
Arts and Cultural Development
$'000 $'000
Functions assumed
Assets recognised
Trade receivables and other receivables 2,536
Special court 500
Investments in associates 8,036,071
Land and buildings 43,798
Total assets recognised 8,082,905
Liabilities recognised
Suppliers (4,238)
Total liabilities recognised (4,238)
Net assets recognised 1 8,078,667
Income assumed
Recognised by the Department of Regional Australia, Local Government, Arts and Sport 208
Total income assumed 208
Expenses assumed
Recognised by the Department of Regional Australia, Local Government, Arts and Sport 254,221
Total expenses assumed 254,221

1 The net assets assumed from all entities were nil (2013-14: $8,078.667m).

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