Dividend & Royalty Distributions

The responsible Minister directed on 19 June 2006 that distributions to stakeholders be discontinued until further notice. Accordingly, no distributions were paid from AAFCANS during the 2020 financial year.

Borrowings

The Minister on 31 August 1995 approved borrowings by way of overdraft for working capital purposes. This option is not utilised.

Reporting

In accordance with the PGPA Act and PGPA Rule requirements, AAFCANS submits its annual Corporate plan to our responsible Minister and the Minister for Finance prior to its publication on the AAFCANS website by 31 August each year.

Quarterly financial performance reports are submitted to various stakeholders.

AAFCANS prepares budget estimates for inclusion in the Department of Finance’s whole of Government reporting.

The agreement for services between Defence and AAFCANS that was applicable during the 2020 financial year required that the entity submit to the AAFCANS Advisory Committee the following reports:

• an annual corporate plan
• an annual performance report
• quarterly operational and financial reports.

All ministerial and legislative reporting requirements for the past financial year have been met.

In accordance with the PGPA Act 2013 section 19(1)(e) and the PGPA Rule 2014 17BE, no issues of non-compliance with finance law and no significant issues were reported to the responsible Minister during the past financial year.

Other

The Commonwealth has notified AAFCANS under section 28 of the CAC Act (superseded by section 22 of the PGPA Act) that the following policies apply to the corporation:

• Australian Government Property Ownership Framework
• Protective Security Manual 2005 (PSM).