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People and relationships

This section describes a range of employment and post employment benefits provided to our people and our relationships with other key people.

3.1 Employee Provisions

2020

2019

$'000

$'000

3.1: Employee Provisions

Leave

9,687

9,383

Total employee provisions

9,687

9,383

Accounting policy

Liabilities for short-term employee benefits and termination benefits expected within twelve months of the end of reporting period are measured at their nominal amounts.

Other long-term employee benefits are measured as the present value of the estimated future cash outflows to be made in respect of services provided by employees up to the reporting date.

Leave

The liability for employee benefits includes provision for annual leave and long service leave.

No provision has been made for sick leave as all sick leave is non-vesting and the average sick leave taken in future years by employees of the Memorial is estimated to be less than the annual entitlement for sick leave.

Separation and Redundancy

Provision is made for separation and redundancy benefit payments. The Memorial recognises a provision for termination when it has developed a detailed formal plan for the terminations and has informed those employees affected that it will carry out the terminations.

Superannuation

The Memorial's staff are members of the Commonwealth Superannuation Scheme (CSS), the Public Sector Superannuation Scheme (PSS), the PSS accumulation plan (PSSap), or other superannuation funds held outside the Australian Government.

The CSS and PSS are defined benefit schemes for the Australian Government. The PSSap is a defined contribution scheme.

The liability for defined benefits is recognised in the financial statements of the Australian Government and is settled by the Australian Government in due course. This liability is reported in the Department of Finance’s administered schedules and notes.

The Memorial makes employer contributions to the employees' defined benefit superannuation scheme at rates determined by an actuary to be sufficient to meet the current cost to the Government. The Memorial accounts for the contributions as if they were contributions to defined contribution plans.

The liability for superannuation recognised as at 30 June represents outstanding contributions.

3.2 Key Management Personnel Remuneration

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Memorial, directly or indirectly, including any director (whether executive or otherwise). The Memorial has determined the key management personnel to be the Director, Chairman, Council Members, Assistant Directors and other highly paid executives. Key management personnel remuneration is reported in the table below:

Note 3.2A: Key Management Personnel Remuneration

2020

2019

$'000

$'000

Short-term employee benefits10

1,788

1,504

Post-employment benefits

230

167

Other long-term employee benefits10

44

37

Total key management personnel remuneration expenses9

2,062

1,708

The total number of key management personnel that are included in the above table are 16 (2019: 15).

9 The above key management personnel remuneration excludes the remuneration and other benefits of the Portfolio Minister. The Portfolio Minister's remuneration and other benefits are set by the Remuneration Tribunal and are not paid by the Memorial.

10 Annual leave provision movement previously reported as an ‘other long-term employee benefit’ in 2019 has been re-classified in the comparatives as a ‘short-term employee benefit’.

3.3 Related Party Disclosures

Related party relationships:

The Memorial is an Australian Government controlled entity. Related parties to the Memorial are Council members, Key Management Personnel and other Australian Government entities.

Transactions with related parties:

Given the breadth of Government activities, related parties may transact with the government sector in the same capacity as ordinary citizens. Such transactions include the payment or refund of taxes, receipt of a Medicare rebate or higher education loans. These transactions have not been separately disclosed in this note.

Significant transactions with related parties can include:

  • purchases of goods and services; and
  • asset purchases.

Giving consideration to relationships with related entities, and transactions entered into during the reporting period by the Memorial, it has been determined that there are no related party transactions to be separately disclosed (2019: no transactions).