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Administer Schedule of Assets and Liabilities

For the period ended 30 June 2020

2020

20191

Original budget1

Notes

$'000

$'000

$'000

ASSETS

Financial assets

Cash and cash equivalents

4.1A

1,342

39,062

23,575

Trade and other receivables

4.1B

73

56,452

48,076

Term deposits

0

1,042,500

0

Investments in Corporate Commonwealth entities

4.1C

2,597,098

2,427,299

3,589,243

Total financial assets

2,598,513

3,565,313

3,660,894

Non-financial assets

Property, plant and equipment2

4.2

51,567

50,650

52,153

Prepayments

174

3,719

2,463

Total non-financial assets

51,741

54,369

54,616

Total assets administered on behalf of Government

2,650,254

3,619,682

3,715,510

LIABILITIES

Payables

Trade creditors and accruals

148

8,549

3,905

Grants

4.3A

0

23,964

48,197

Other payables

4.3B

437

2,883

2,636

Total payables

585

35,396

54,738

Interest bearing liabilities

Leases

4.4

1,314

0

0

Total Interest bearing liabilities

1,314

0

0

Provisions

Employee provisions

6.1B

458

433

293

Non-cash benefits - former Governors-General

6.1C

18,008

18,909

14,691

Make good provisions

324

105

0

Total provisions

18,790

19,447

14,984

Total liabilities administered on behalf of Government

20,689

54,843

69,722

Net assets

2,629,565

3,564,839

3,645,788

1 The National Indigenous Australian Agency (NIAA) was established in the PM&C portfolio as at 1 July 2019. Prior year comparative information presented in these financial statements contain balances that have since transferred to NIAA.

2 Right-of-use assets are included in the Property, Plant and Equipment. PM&C applied AASB 16 using the modified retrospective approach and therefore the comparative information has not been restated and continues to be reported under AASB 117.

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https://www.transparency.gov.au/annual-reports/department-prime-minister-and-cabinet/reporting-year/2019-20-44