​​​​​​​
You are here: Skip breadcrumbAttorney-General's Department >> Publications >> Annual reports >> Annual Report 2014-15 >> Note 20: Administered - Financial assets

Note 20: Administered - Financial assets

Previous page Next page

2015 2014
Notes $'000 $'000

20A: Cash and cash equivalents

Cash on hand or deposit 3 4

20B: Loans and receivables

Goods and services receivables in connection with
Related parties 39 81
External parties 520 731
Total goods and services receivables 559 812
Advances and loans 1
State and Territory Governments 120,592 118,627
Total advances and loans 120,592 118,627
Other receivables
Dividends
Special account receivable from OPA 1 500
Other 26 560
Personal benefit recoveries 2 1,362 1,617
GST receivable from Australian Taxation Office 2,640 2,837
Total other receivables 4,029 5,514
Total loans and receivables (gross) 125,180 124,953
Less impairment allowance
Goods and services (102) (91)
Personal benefit recoveries (1,089) (646)
Total impairment allowance (1,191) (737)
Total trade and other receivables (net) 123,989 124,216
Trade and other receivables (net) expected to be recovered
No more than 12 months 123,989 124,216
Total trade and other receivables (net) 123,989 124,216
Trade and other receivables (gross) aged as follows
Not overdue 123,439 122,888
Overdue by
0 to 30 days 3 149
31 to 60 days 10
61 to 90 days 10 190
More than 90 days 1,728 1,716
Total trade and other receivables (gross) 125,180 124,953
Impairment allowance aged as follows
Overdue by
More than 90 days (1,191) (737)
Total impairment allowance (1,191) (737)

Credit terms were within 30 days (2014: 30 days).

1 Loans are made to State and Territory Governments for periods up to 100 years. No security is required. Principal will be repaid in full by maturity. Interest rates are either fixed or variable. Interest payments are made annually.

2 Recovery action undertaken by Department of Human Services in respect of payments made under the Australian Government Disaster Recovery Program and Disaster Income Recovery Subsidy.

Reconciliation of the Impairment Allowance
Movements in relation to 2015

Goods and services Personal benefit recoveries Total
$'000 $'000 $'000
As at 1 July 2014 91 646 737
Amounts recovered and reversed (6) (6)
Amounts transferred under restructuring of administrative arrangements
Increase recognised in net cost of services 17 443 460
Total as at 30 June 15 102 1,089 1,191
Movements in relation to 2014
As at 1 July 2013 1,697 1,697
Amounts recovered and reversed (1,051) (1,051)
Amounts transferred under restructuring of administrative arrangements 32 32
Increase recognised in net deficit 59 59
Total as at 30 June 2014 91 646 737

20C: Investments

Investments in associates
Australian Business Arts Foundation 1,745 1,816
Australia Council 23,247 21,376
Australia Film, Television and Radio School 10,887 10,837
Australian Government Solicitor 26,404 36,058
Australian National Maritime Museum 255,944 254,248
Bundanon Trust 51,560 36,195
High Court of Australia 216,326 230,100
National Film and Sound Archive 278,880 269,694
National Gallery of Australia 5,826,671 5,187,325
National Library of Australia 1,674,055 1,823,857
National Museum of Australia 466,559 458,431
National Portrait Gallery 129,684 129,150
Screen Australia 58,705 67,645
Investments in jointly controlled entities
Law Courts Limited 119,599 115,200
Total investments 9,140,266 8,641,932
Investments expected to be recovered
More than 12 months 9,140,266 8,641,932
Total investments 9,140,266 8,641,932

Details of investments

Ownership
2015 2014
Name of entity % %
Jointly controlled entities 47.5 47.5
Law Courts Limited 1
Associates
Australian Business Arts Foundation 100 100
Australia Council 100 100
Australia Film, Television and Radio School 100 100
Australian Government Solicitor 100 100
Australian National Maritime Museum 100 100
Bundanon Trust 100 100
High Court of Australia 100 100
National Film and Sound Archive 100 100
National Gallery of Australia 100 100
National Library of Australia 100 100
National Museum of Australia 100 100
National Portrait Gallery 100 100
Screen Australia 100 100

1 The published fair value for the investment in Law Courts Limited is $119.599m (2014: $115.200m).

This note should be read in conjunction with Note 27.

20D: Other current assets

Assets forfeited under the Protection of Movable Cultural Heritage Act 1996 1 5,910
Other current assets expected to be recovered
No more than 12 months 5,910
Total other current assets 5,910

1 Items forfeited to the Commonwealth under subsection 14(1) of the Protection of Movable Cultural Heritage Act 1996.

Previous page Next page