Go to top of page

Commitments

G1: Commitments

Commitments are defined as:

  1. Intentions to create liabilities or assets for the receiving entity, as evidenced by undertakings or agreements to make/obtain future payments to/from other entities; and
  2. Are executory contracts that are not recognised under AASB 137 Provisions, Contingent Liabilities and Contingent Assets (i.e. not onerous); but
  3. Do not include future appropriations.

Commitments are disclosed per requirements of AASB 117 Leases, AASB 138 Intangible Assets and AASB 116 Property, Plant and Equipment.

Departmental

Administered

30 June

30 June

30 June

30 June

2018

2017

2018

2017

$'000

$'000

$'000

$'000

BY TYPE

Commitments receivable

Domestic property portfolio - rent receivable1

745,546

983,098

-

-

Subleasing - rent receivable2

9,464

11,170

-

-

Net GST recoverable

37,529

38,512

12,699

12,730

Total commitments receivable

792,539

1,032,780

12,699

12,730

Commitments payable3

Capital commitments

Land and buildings4

42,298

40,206

185

105

Intangible assets development

14,076

5,089

-

-

Infrastructure, plant & equipment

142

1,215

3,299

-

Total capital commitments

56,516

46,510

3,484

105

Other commitments

Operating leases5

351,129

377,122

152,137

140,125

Finance leases6

5,481

7,075

-

-

Net GST payable

67,777

89,373

-

-

Total other commitments

424,387

473,570

152,137

140,125

Total commitments payable

480,903

520,080

155,621

140,230

Net commitments by type

311,636

512,700

(142,922)

(127,500)

BY MATURITY

Commitments receivable

Within 1 year

73,040

78,114

3,582

3,271

Between 1 to 5 years

277,465

397,162

6,838

7,725

More than 5 years

442,034

557,504

2,279

1,734

Total commitments receivable

792,539

1,032,780

12,699

12,730

Commitments payable

Capital commitments

Within 1 year

48,466

38,911

3,484

105

Between 1 to 5 years

8,050

7,599

-

-

Total capital commitments

56,516

46,510

3,484

105

Operating lease commitments

Within 1 year

15,729

17,482

37,784

36,059

Between 1 to 5 years

67,752

90,864

82,637

84,988

More than 5 years

267,648

268,776

31,716

19,078

Total operating lease commitments

351,129

377,122

152,137

140,125

Finance lease commitments

Within 1 year

3,245

3,190

-

-

Between 1 to 5 years

2,236

3,885

-

-

Total finance lease commitments

5,481

7,075

-

-

Departmental

Administered

30 June

30 June

30 June

30 June

2018

2017

2018

2017

$'000

$'000

$'000

$'000

Other commitments

Within 1 year

5,925

6,461

-

-

Between 1 to 5 years

23,879

34,440

-

-

More than 5 years

37,973

48,472

-

-

Total other commitments

67,777

89,373

-

-

Total commitments payable

480,903

520,080

155,621

140,230

Net commitments by maturity

311,636

512,700

(142,922)

(127,500)

1 Domestic property portfolio rent receivable includes rent to be received from the Australian Government’s non-Defence

Commonwealth owned property portfolio within Australia.

2 Subleasing rent receivable arrangements exist with the Department of Human Services for One Canberra Avenue.

3 Commitments relating to goods and services contracts for current and prior years are not required to be disclosed.

4 Land and buildings mainly represent outstanding contractual commitments for construction projects.

5 Operating leases mainly comprise office accommodation for Finance business operations (Departmental) and electorate offices for parliamentarians, Commonwealth Parliament Offices and COMCAR depots (Administered).

6 Finance leases represent outstanding contractual commitments relating to IT equipment and software.

Visit

https://www.transparency.gov.au/annual-reports/department-finance/2018/part-5-financial-statements/commitments