H. Other Information
This section includes additional financial information which is considered relevant to assist users in understanding the financial statements.
H1. Aggregate assets and liabilities
|
Departmental |
Administered |
|||
|
30 June |
30 June |
30 June |
30 June |
|
|
2019 |
2018 |
2019 |
2018 |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
|
|
Assets expected to be recovered in |
||||
|
No more than 12 months |
977,515 |
873,117 |
31,602,961 |
22,165,966 |
|
More than 12 months |
2,094,373 |
2,070,110 |
9,387,303 |
10,561,914 |
|
Total assets |
3,071,888 |
2,943,227 |
40,990,264 |
32,727,880 |
|
Liabilities expected to be settled in |
||||
|
No more than 12 months |
341,497 |
432,428 |
8,907,799 |
8,660,144 |
|
More than 12 months |
390,065 |
317,105 |
226,558,179 |
176,296,004 |
|
Total liabilities |
731,562 |
749,533 |
235,465,978 |
184,956,148 |
H2. Other policy and disclosures
This section of the report provides additional information in relation to line items in the primary statements that do not have specific disclosures in the preceding notes. They are additional disclosures directed at the interests of particular users and their needs.
Resources received free of charge
Resources free of charge are recognised as revenue when, and only when, a fair value can be reliably determined and the services would be purchased if they had not been donated. Use of the resources is recognised as an expense. Resources received free of charge are recorded as either revenue or gains depending on their nature. Resources received free of charge predominantly relate to Australian National Audit Office audit fees for Finance’s financial statements and whole of government financial statements (2019: $1.4 million).
Resources received free of charge includes rent for office space in the Ministerial Wing of Parliament House.
Cash and cash equivalents
Cash and cash equivalents include cash on hand, cash held with outsiders, cash in special accounts and demand deposits in bank accounts with an original maturity of three months or less that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value. Cash is recognised at its nominal amount. Cash and cash equivalents held for investment purposes are classified as investments.
Official Public Account (OPA)
The OPA consists of the central bank accounts administered by Finance where the aggregate balance represents the government’s daily cash position. Cash in bank accounts held by non-corporate Commonwealth entities (NCE) are consolidated in the OPA each night. The amounts to be returned to the NCEs before the next business day is reported in the Administered financial statements as OPA overnight cash payable. Transfers to and from the OPA with other Commonwealth entities represents receipts collected on behalf of the Commonwealth and the Commonwealth payments drawn from the Appropriation Acts
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https://www.transparency.gov.au/annual-reports/department-finance/reporting-year/2018-2019-68