Administered Reconciliation Schedule
2021 | 2020 | |
|---|---|---|
$'000 | $'000 | |
Opening assets less liabilities as at 1 July | (1,510,266) | (1,434,272) |
Adjustment on initial application of AASB 16 | − | 10 |
Adjusted opening assets less liabilities | (1,510,266) | (1,434,262) |
Net cost of services | ||
Income | 187,546 | 293,108 |
Expenses | ||
Payments to entities other than corporate Commonwealth entities | (691,105) | (875,455) |
Payments to corporate Commonwealth entities | (22,385) | (22,497) |
Other comprehensive income | ||
Revaluations transferred to reserves | (42) | − |
Actuarial gain - former Solicitor-Generals' pensions taken to equity | 257 | 1,137 |
Gains/(losses) on financial assets at fair value through other comprehensive income | 199,617 | (178,579) |
Gains on financial liabilities at fair value through other comprehensive income | 44,342 | 98,015 |
Transfers (to)/from the Australian Government | ||
Appropriation transfers from the Official Public Account (OPA) | ||
Administered assets and liabilities appropriations | 453 | 9,709 |
Annual appropriations | ||
Payments to entities other than corporate Commonwealth entities | 380,437 | 491,352 |
Payments to corporate Commonwealth entities | 22,385 | 22,497 |
Special appropriations (unlimited) | ||
Payments to entities other than corporate Commonwealth entities | 301,942 | 400,796 |
Appropriation transfers to OPA | ||
Transfers to OPA | (190,419) | (318,727) |
Restructuring (refer to Note 9.2B) | − | 2,640 |
Closing assets less liabilities as at 30 June | (1,269,507) | (1,510,266) |
The above schedule should be read in conjunction with the accompanying notes.
Accounting Policy
Administered cash transfers to and from the Official Public Account
Revenue collected by the department for use by the Government rather than the department is administered revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of Government. These transfers to and from the OPA are adjustments to the administered cash held by the entity on behalf of the Government and reported as such in the administered cash flow statement and in the administered reconciliation schedule.
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https://www.transparency.gov.au/annual-reports/attorney-generals-department/reporting-year/2020-21-46