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Notes to and forming part of the Financial Statements

Overview

Objectives of the Department of the Prime Minister and Cabinet

The Department of the Prime Minister and Cabinet (PM&C) is a not-for-profit Australian Government controlled entity for the purposes of preparing the financial statements. The objective of the Department is to provide policy advice and support to the Prime Minister, the Cabinet, Portfolio Ministers and Assistant Ministers on matters that are at the forefront of public and government administration.

On 5 May 2021, the Government established NRRA to support local communities. The new agency subsumed the functions of the National Bushfire Recovery Agency and the non-drought policy development functions of the National Drought and North Queensland Flood Response and Recovery Agency.

Basis of preparation of the financial statements

The financial statements are general purpose financial statements and are required by section 42 of the PGPA.

The financial statements have been prepared in accordance with:

  • Public Governance, Performance and Accountability (Financial Reporting) Rule 2015; and
  • Australian Accounting Standards and Interpretations – Reduced Disclosure Requirements issued by the Australian Accounting Standards Board (AASB) that apply for the reporting period.

The financial statements have been prepared on an accrual basis and in accordance with the historical cost convention, except where certain assets and liabilities are recorded at fair value. Except where stated, no allowance is made for the effect of changing prices on the results or the financial position. The financial statements are presented in Australian dollars, and are rounded to the nearest thousand dollars unless otherwise specified.

Except where stated below, administered items are accounted for on the same basis and using the same policies as for departmental items, including the application of Australian Accounting Standards.
The Department has assessed the impact of COVID-19 pandemic on the balances included in its financial statements. The fair value of its land, buildings and property, plant and equipment and leasehold improvements was assessed due to the valuation uncertainty created by the COVID-19 pandemic. Further information is included in the accounting policy for Note 3.2 Non-financial Assets and companies and Note 4.2 Administered – Non-financial Assets.

The Department has concluded that COVID-19 has not had a material impact on the fair value of these assets.

The COVID impact also has an effect on the carrying value of administered investment. Further information is included in the accounting policy for Note 4.1C Investments on corporate Commonwealth entities.

Taxation

The Department is exempt from all forms of taxation except Fringe Benefits Tax (FBT), the Goods and Services Tax (GST) and Mining Withholding Tax.

New Australian accounting standards

No new accounting standard has been adopted earlier than the application date as stated in the standard.

Other new standards, revised standards, interpretations and amending standards that were issued prior to the sign- off date and are applicable to the current reporting period did not have material financial impact, and are not expected to have a future material financial impact on the Department.

Event after the reporting period

There were no events occurring after 30 June 2021 that would have a material impact on the financial statements.

1. Departmental financial performance

This section analyses the financial performance of the Department of the Prime Minister and Cabinet for the period ended 30 June 2021.

1.1 Expenses

2021

2020

$'000

$'000

Note 1.1A: Employee benefits

Wages and salaries

108,339

92,680

Superannuation

Defined contribution plans

12,301

9,987

Defined benefit plans

7,104

6,481

Leave and other entitlements

10,485

11,558

Separation and redundancies

539

1,715

Other

705

702

Total employee benefits

139,473

123,123

Note 1.1B: Suppliers

Goods and services

56,202

49,307

Consultants, legal, contractors and secondees

883

440

Equipment, repairs and maintenance

8,933

9,026

General expenses

86

120

Venue hire

4,290

5,988

Office accommodation, facility management and security Information, communication and technology

29,780

28,880

Travel

1,064

2,578

Total goods and services supplied and rendered

101,238

96,339

Goods supplied

4,039

3,224

Services rendered

97,199

93,115

Total goods and services

101,238

96,339

Other suppliers

Short-term leases

178

264

Workers compensation expenses

310

641

Total other supplier expenses

488

905

Total suppliers

101,726

97,244

The above lease disclosures should be read in conjunction with the accompanying notes 1.1C, 3.2 and 3.4.

Accounting Policy

Short-term leases and leases of low-value assets

PM&C has elected not to recognise right-of-use assets and lease liabilities over short-term leases where the lease term is 12 months or less or leases over low-value assets (less than $10,000). PM&C recognises the lease payments associated with these leases as an expense on a straight-ilne basis over the lease term.

Note 1.1C: Finance costs

Interest on lease liabilities

1,477

1,563

Total finance costs

1,477

1,563

The above lease disclosures should be read in conjunction with the accompanying notes 1.1B, 3.2 and 3.4.

1.2 Own-source revenue

2021

2020

$'000

$'000

Own-source revenue

Note 1.2A: Revenue from contracts with customers

Revenue from contracts with customers

50,992

61,507

Total revenue from contracts with customers

50,992

61,507

Disaggregation of revenue from contracts with customers

Delivery of services

48,049

53,779

Cost recovery

2,943

7,728

50,992

61,507

Type of customer:

Government entities (related parties)

49,370

58,578

Non-government entities

1,622

2,929

50,992

61,507

Timing of transfer of goods and services:

Over time

50,992

61,507

50,992

61,507

Accounting Policy

Revenue from the sale of goods is recognised when control has been transferred to the buyer.

Revenue from agreements between PM&C and other related parties are recognised as per AASB 15 and revenue from appropriations and resources received free of charge are recognised as per AASB1058.

PM&C’s principal activity in generating revenue is through the delivery of corporate services. Performance obligations are satisfied over time.

The transaction price is the total amount of consideration to which PM&C expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both.

Receivables for goods and services, which have 30 day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable.

Note 1.2B: Resources received free of charge

Seconded staff

6,139

5,821

Volunteer services

282

1,149

Other

210

202

Total resources received free of charge

6,631

7,172

Accounting Policy

Resources received free of charge are recognised as revenue when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense. Resources received free of charge are recorded as either revenue or gains depending on their nature.

On the initial recognition of volunteer services as an asset or an expense, PM&C recognises any related amounts in accordance with the relevant standard.

2. Income and expenses administered on behalf of Government

for the period ended 30 June 2021

This section analyses the activities that the Department of the Prime Minister and Cabinet does not control but administers on behalf of the Government. Unless otherwise noted, the accounting policies adopted are consistent with those applied for departmental reporting.

2.1 Administered – Expenses

2021

2020

$'000

$'000

Note 2.1A: Employee benefits

Wages and salaries

1,208

1,158

Superannuation

Defined contribution plans

148

125

Defined benefit plans

52

52

Leave and other entitlements

253

90

Leave and other entitlements

6

-

Total employee benefits

1,667

1,425

Note 2.1B: Suppliers

Goods and services

Outsourced providers, contractors and consultants

207

602

Equipment, repairs and maintenance

643

551

General expenses

576

713

Travel

316

1,662

Information, communication and technology

96

115

Total goods and services

1,838

3,643

Goods supplied

363

659

Services rendered

1,475

2,984

Total goods and services supplied and rendered

1,838

3,643

Other suppliers

Workers compensation expenses

4

13

Total other supplier expenses

4

13

Total suppliers

1,842

3,656

2021

2020

$'000

$'000

Note 2.1C: Grants

Public sector

Government entities

31,020

17,437

Private sector

Non-profit organisations

20,306

3,392

Commercial entities

4,833

160

Total grants

56,159

20,989

Program 1.1 - Prime Minister and Cabinet

56,159

20,989

Total grants

56,159

20,989

Accounting Policy

PM&C administers a small number of grants on behalf of the Government. Grant liabilities are recognised to the extent that (i) the services required to be performed by the grantee have been performed; or (ii) the grant eligibility criteria have been satisfied, but payments due have not been made.

Settlement is made according to the terms and conditions of each grant. This is usually within 30 days of performance or eligibility being met.

Note 2.1D: Finance costs

Service costs

125

-

Interest on lease liabilities

11

14

Total finance costs

136

14

Note 2.1E: Payments to corporate Commonwealth entities and companies

Aboriginal Hostels Limited

35,941

36,241

Australian Institute of Aboriginal and Torres Strait Islander Studies

19,437

20,371

Indigenous Business Australia

9,546

9,538

Indigenous Land and Sea Corporation

8,402

8,572

Old Parliament House

16,879

8,565

Torres Strait Regional Authority

36,078

35,897

Total payments to corporate Commonwealth entities and companies

126,283

119,184

Accounting Policy

Payments to corporate Commonwealth entities and companies from amounts appropriated for that purpose are classified as administered expenses, equity injections or loans of PM&C. The appropriation to PM&C is disclosed in section 5 Funding.

2.2 Administered – Income

2021

2020

$'000

$'000

Note 2.2A: Other revenue

Return of grant funding

-

2

Other

10

681

Total other revenue

10

683

Accounting Policy

All administered revenue relates to ordinary activities performed by PM&C on behalf of the Government. As such, administered appropriations are not revenues of the individual entity. PM&C oversees distribution or expenditure of the funds as directed.

3. Departmental financial position

for the period ended 30 June 2021

This section analyses the Department of the Prime Minister and Cabinet’s assets used to generate financial performance and the operating liabilities incurred as a result. Employee related information is disclosed in the People section.

3.1 Financial assets

2021

2020

$'000

$'000

Note 3.1: Trade and other receivables

Goods and services receivables

Goods and services

2,389

10,134

Total goods and services receivables

2,389

10,134

Appropriations receivables

Existing programs

32,114

19,578

Total appropriations receivable

32,114

19,578

Other receivables

Statutory receivables

2,115

1,981

Total other receivables

2,115

1,981

Total trade and other receivables - gross

36,618

31,693

Less impairment loss allowance

Goods and services

(2)

(35)

Total impairment loss allowance

(2)

(35)

Total trade and other receivables - net

36,616

31,658

3.2 Non-financial assets

Note 3.2: Reconciliation of the opening and closing balances of property, plant and equipment and intangibles

Buildings

Leasehold improvements

Plant and equipment

Computer software internally developed

Computer software purchased

Total

$’000

$’000

$’000

$’000

$’000

$’000

As at 1 July 2020

Gross book value

-

-

-

27,420

614

28,034

Fair value

129,735

48,452

17,156

-

-

195,343

Work in progress

505

5,870

995

Accumulated depreciation/amortisation and impairment

(13,161)

(18,262)

(8,519)

(13,658)

(578)

(54,178)

Total as at 1 July 2020

117,079

36,060

9,632

22,241

517

185,529

Other adjustments 1

(505)

(4,653)

6,897

(1,578)

(161)

-

Adjusted total as at 1 July 2020

116,574

31,407

16,529

20,663

356

185,529

Additions

Purchase

-

1,162

5,628

1,985

-

8,775

Right-of-use assets

-

-

86

-

-

86

Revaluations and impairments recognised in other comprehensive income

-

73

221

-

-

294

Restructuring 2

-

-

(116)

(404)

-

(520)

Reclassifications

-

(118)

118

-

-

-

Depreciation and amortisation

-

(2,512)

(3,286)

(9,101)

(77)

(14,976)

Depreciation on right-of-use assets

(9,598)

-

(54)

-

-

(9,652)

Disposals

-

-

(399)

-

-

(399)

Total as at 30 June 2021

106,976

30,012

18,727

13,143

279

169,137

Total as at 30 June 2021 represented by

Gross book value

-

-

-

35,166

814

35,980

Fair value

129,735

47,283

19,288

-

-

196,306

Work in progress

-

903

7,118

736

120

8,877

Accumulated depreciation, amortisation and impairment

(22,759)

(18,174)

(7,679)

(22,759)

(655)

(72,026)

Total as at 30 June 2021

106,976

30,012

18,727

13,143

279

169,137

Carrying amount of right-of-use assets 3

106,976

-

51

-

-

107,027

There are no contractual commitments for the acquisition of IT equipment and other capital works payable in 2021 (2020: $nil).

1 Relates to assets work in progress balances re-classified among the PM&C asset classes.

2 The NRRA was established on 5 May 2021. Refer to Note 8.2 Restructuring.

3 Relates to asset closing balance for right-of-use assets as at 30 June 2021.

Accounting Policy

Asset recognition threshold

Purchases of property, plant and equipment and intangibles are recognised initially at cost in the Statement of Financial Position, except for purchases costing less than $5,000, which are expensed in the year of acquisition (other than ICT assets where they form part of a group of similar items which are significant in total).

The initial cost of an asset includes (where relevant) an estimate of the cost of dismantling and removing the item and restoring the site on which it is located. This is particularly relevant to make good provisions in property leases taken up by PM&C where there exists an obligation to restore the asset to its original condition. These costs are included in the value of PM&C's property, plant and equipment with a corresponding provision for the make good recognition.

Property, plant and equipment are subsequently measured at fair value.

Leased right-of-use (ROU) assets

Leased ROU assets are capitalised at the commencement date of the lease and comprise of the initial lease liability amount, initial direct costs incurred when entering into the lease less any lease incentives received. These assets are accounted for by Commonwealth lessees as separate asset classes to corresponding assets owned outright, but included in the same column as where the corresponding underlying assets would be presented if they were owned.

On initial adoption of AASB 16 PM&C adjusted the ROU assets at the date of initial application by the amount of any provision for onerous leases recognised immediately before the date of initial application. Following initial application, an impairment review is undertaken for any right-of-use lease asset that shows indicators of impairment and an impairment loss is recognised against any right-of-use lease asset that is impaired.

Revaluations

Following initial recognition at cost, property, plant and equipment (excluding ROU assets) are carried at fair value (or an amount not materially different from fair value) less subsequent accumulated depreciation and accumulated impairment losses. Valuations are conducted with sufficient frequency to ensure that the carrying amounts of assets did not differ materially from fair value as at the reporting date. The regularity of independent valuations depends upon volatility of movements in market values for the relevant assets.

Revaluation adjustments are made on a class basis. Any revaluation increment is credited to equity under the heading of asset revaluation reserve except to the extent that it reversed a previous revaluation decrement of the same asset class that was previously recognised in the surplus/(deficit.

Asset class

Fair value measurement

Buildings excluding leasehold improvements

Leasehold improvements

Plant and equipment

Market selling price and depreciated replacement cost

Depreciated replacement cost

Market selling price and depreciated replacement cost

Significant accounting judgements and estimates

In 2020-21, PM&C procured the services of independent valuation experts to perform a desktop valuation of departmental property, plant and equipment and leasehold improvements as at 30 June 2021.

The experts provided written assurance that the models developed to value assets are in compliance with accounting and valuation standards and identified that currently there is significant valuation uncertainty due to the COVID-19 pandemic impacting markets. However, while this uncertainty exists the valuations also took into consideration that real estate markets and in particular certain niches in the market (unique properties such as those held by PM&C) are less volatile.

The valuation methodologies used (the market approach and the depreciated replacement cost method) have reflected current market conditions and the impact of COVID-19. The department currently has no assets held for sale which may be impacted by the market uncertainty. PM&C will revalue its assets again in 2021-22.

PM&C tests its valuation model via internal management review at least once every 12 months. PM&C has a rolling revaluation plan in place which ensures assets are formally revalued at least once every three years. If a particular asset class experiences significant and volatile changes in fair value (i.e. where indicators suggest that the value of the class has changed materially since the previous reporting period), that class is subject to specific valuation in the reporting period, where practicable, regardless of the timing of the last specific valuation.

Assets that do not transact with enough frequency or transparency to develop objective opinions of value from observable market evidence are measured using the cost (depreciated replacement cost) approach. Professional judgement has been applied in calculating the consumed economic benefit or asset obsolescence relevant to the asset under construction.

All property, plant and equipment assets are valued on a recurring basis except for assets held for sale.

Upon revaluation, any accumulated depreciation is eliminated against the gross carrying amount of the asset and the asset restated to the revalued amount.

Assets held for sale

Assets held for sale are measured at the lesser of their carrying amount and fair value less cost to sell and are valued at a non-recurring basis. PM&C currently has no assets held for sale (2020: $nil).

Intangibles

PM&C’s intangibles comprise internally developed and purchased software for internal use. These assets are carried at cost less accumulated amortisation and accumulated impairment losses.

Impairment

All assets were assessed for impairment during 2020-21.

Where indications of impairment exist, the recoverable amount is estimated and an impairment adjustment loss made if the recoverable amount is less than its carrying amount.

Depreciation and amortisation

Depreciable assets are written-down to estimated residual value over its estimated useful life using, in all cases, the straight-line method of depreciation.

Depreciation rates (useful lives), residual values and methods are reviewed at each reporting date and necessary adjustments are recognised in the current, or current and future reporting periods, as appropriate.

Depreciation rates applying to each class of asset are based on the following total useful lives for the current and prior reporting periods:

Asset class

Useful lives

Buildings excluding leasehold improvements

Leasehold improvements

Plant and equipment

Intangibles

3 to 50 years (2020: 3 to 50 years)

Lease term (2020: Lease term)

1 to 25 years (2020: 1 to 25 years)

1 to 5 years (2020: 1 to 5 years)

The depreciation rates for ROU assets are based on the commencement date, to the earlier of the end of the useful life of the ROU asset or the end of the lease term.

De-recognition

An item of property, plant and equipment is de-recognised upon disposal or when no further future economic benefits is expected from its use or disposal.

3.3 Payables

2021

2020

$'000

$'000

Note 3.3: Other payables

Salaries, wages and superannuation

2,503

1,954

Unearned income

376

606

Other

1,381

2,988

Total other payables

4,260

5,548

3.4 Interest bearing liabilities

2021

2020

$'000

$'000

Note 3.4: Leases

Lease liabilities

Buildings

112,158

119,455

Plant and equipmen

48

37

Total lease liabilities

112,206

119,492

Total cash outflows for leases for the year ended 30 June 2021 was $9.008 million (2020: $7.599 million).

2021

2020

$'000

$'000

Note 3.3: Other payables

Salaries, wages and superannuation

2,503

1,954

Unearned income

376

606

Other

1,381

2,988

Total other payables

4,260

5,548

PM&C in its capacity as a lessee has a total of nine significant departmental leases split into two property leases and seven motor vehicle leases. The details of the significant leases are as follows.

  1. One National Circuit, Barton, ACT – The lease has a remaining term of 11.67 years. There are no options to extend this lease and the lease expiry date is 16 February 2033.
  2. 10 National Circuit, Barton, ACT – The lease has a remaining term of three years. There is an option to extend this lease by two years at the lease expiry date of 31 July 2024.

The above lease disclosures should be read in conjunction with the accompanying notes 1.1B, 1.1C and 3.2.

Accounting Policy

For all new contracts entered into, PM&C considers whether the contract is, or contains a lease. A lease is defined as “a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration”.

Once it has been determined that a contract is, or contains a lease, the lease liability is initially measured at the present value of the lease payments unpaid at the commencement date, discounted using the interest rate implicit in the lease, if that rate is readily determinable, or the department’s incremental borrowing rate.

Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is re-measured to reflect any reassessment or modification to the lease. When the lease liability is re-measured, the corresponding adjustment is reflected in the right-of-use asset or profit and loss depending on the nature of the re-assessment or modification.

4. Assets and liabilities administered on behalf of Government

for the period ended 30 June 2021

This section analyses assets used to generate financial performance and the operating liabilities incurred as a result which the Department of the Prime Minister and Cabinet does not control, but administers on behalf of the Government. Unless otherwise noted, the accounting policies adopted are consistent with those applied for departmental reporting.

4.1 Administered – Financial assets

2021

2020

$'000

$'000

Note 4.1A: Cash and cash equivalents

Cash on hand

-

1,342

Total cash and cash equivalents

-

1,342

Note 4.1B: Trade and other receivables

Other receivables

Statutory receivables

2,017

73

Grants receivable

-

146

Total other receivables 2,017

2,017

219

Total trade and other receivables – gross

2,017

219

Less impairment loss allowance

Grants receivables

-

(146)

Total impairment loss allowance

-

(146)

Total trade and other receivables – net

2,017

73

Note 4.1C: Investments in corporate Commonwealth entities and companies

Equity interest in:

Aboriginal Hostels Limited

145,115

143,347

Anindilyakwa Land Council

19,890

16,512

Australian Institute of Aboriginal and Torres Strait Islander Studies

44,715

44,254

Central Land Council

74,525

44,091

Indigenous Land and Sea Corporation

459,716

455,486

Indigenous Business Australia

1,739,656

1,552,467

National Australia Day Council Limited

1,105

932

Northern Land Council

56,633

31,431

Outback Stores Pty Ltd

40,907

41,120

Tiwi Land Council

11,583

7,144

Torres Strait Regional Authority

88,710

87,357

Wreck Bay Aboriginal Community Council

70,629

57,547

Old Parliament House

117,289

115,410

Total investments in corporate Commonwealth entities and companies

2,870,473

2,597,098

All investments in corporate Commonwealth entities and companies are expected to be recovered in more than 12 months.

Investment in corporate Commonwealth entities and companies

The Australian Government holds a 100% equity interest in the following administered investments.

Aboriginal Hostels Limited

Provides temporary accommodation to Aboriginal and Torres Strait Islander people through a national network of accommodation facilities

Australian Institute of Aboriginal and Torres Strait Islander Studie

The Australian Institute of Aboriginal and Torres Strait Islander Studies (AIATSIS) is a world renowned research, collections and publishing organisation and occupies a unique place at the nexus between the academic and cultural sectors, government, Indigenous communities, and the broader Australian public.

Land Councils

The Land Councils include:

  • Anindilyakwa Land Counci
  • Central Land Counci
  • Northern Land Counci
  • Tiwi Land Council; an
  • Wreck Bay Aboriginal Community Council

The Land Councils represent the Aboriginal people living in the area of the Land Council in the management of Aboriginal land in the area, and in relation to legislation concerning that land. The Land Councils also consult and protect the interests of traditional owners and take measures to assist in the protection of sacred sites in the area of the Land Council. Wreck Bay Aboriginal Community Council holds title to land and provides services to the Aboriginal community of Jervis Bay.

Indigenous Land and Sea Corporation

The Indigenous Land and Sea Corporation provides economic, environmental, social and cultural benefits for Aboriginal persons and Torres Strait Islanders by assisting in the acquisition and management of land and water related rights.

Indigenous Business Australia

Indigenous Business Australia assists and enhances Aboriginal and Torres Strait Islander self-management and economic self-sufficiency, and aims to advance the commercial and economic interests of Aboriginal and Torres Strait Islander people by accumulating and using a substantial capital base for their benefit.

National Australia Day Council Limited

Promotes national pride, active citizenship and the observance and celebration of Australia Day; administration of the Australian of the Year awards, which includes awards for the Young Australian of the Year, the Senior Australian of the Year and Australia’s Local Hero; distribution of grants to State and Territory Australia Day Councils; and provision of recommendations and advice to the Australian Government on all matters relating to year-round national pride activities.

Old Parliament House

The Old Parliament House promotes an enhanced appreciation and understanding of the political and social heritage of Australia for members of the public through activities including the conservation and upkeep of, and the provision of access to, Old Parliament House and the development of its collection, exhibitions and educational programs.

Outback Stores Pty Ltd

Outback Stores Pty Ltd improves access to affordable, healthy food for Indigenous communities, particularly in remote areas, through providing food supply and store management and support services.

Torres Strait Regional Authority

The Torres Strait Regional Authority formulates, implements and monitors the effectiveness of programs for Aboriginal and Torres Strait Islander people living in the Torres Strait and Northern Peninsula Area.

Accounting Policy

Administered investments in subsidiaries are not consolidated because their consolidation is relevant only at the whole-of-government level.

Administered investments are classified through other comprehensive income and are measured at fair value as at 30 June 2021. Fair value has been taken to be the Government's proportional interest in the net assets as advised by the entities as at the end of the reporting period, recorded in the latest management accounts or unaudited financial statements provided.

Corporate Commonwealth entities and companies are subject to prevailing economic conditions which include the impact of the COVID-19 pandemic. The COVID pandemic has not caused any significant impacts to the amounts recorded for assets and liabilities as at 30 June 2021. However, it should be noted that the ongoing impact from COVID-19 into the future continues to be monitored.

4.2 Administered – Non-financial assets

Note 4.2: Reconciliation of the opening and closing balances of plant and equipment

Land

Buildings

Leasehold improvements

Plant and equipment

Total

$’000

$’000

$’000

$’000

$’000

As at 1 July 2020

Fair value

43,250

7,781

731

1,238

53,000

Work in progress

-

-

-

102

102

Accumulated depreciation and impairment

-

(664)

(97)

(774)

(1,535

Total as at 1 July 2020

43,250

7,117

634

566

51,567

Adjusted total as at 1 July 2020

43,250

7,117

634

566

51,567

Additions

Purchases

-

39

196

56

291

Right-of-use assets

-

-

-

108

108

Revaluations recognised in other comprehensive income

2,300

282

47

63

2,692

Depreciation expense

-

(232)

(207)

(131)

(570)

Depreciation on right-of-use assets

-

(489)

-

(54)

(543)

Write-down and impairments

-

-

(26)

-

(26)

Total as at 30 June 2021

45,550

6,717

644

608

53,519

Total as at 30 June 2021 represented by

Fair value

45,550

7,831

597

1,321

55,299

Work in progress

-

39

80

59

178

Accumulated depreciation and impairment

-

(1,153)

(33)

(772)

(1,958)

Total as at 30 June 2021

45,550

6,717

644

608

53,519

Carrying amount of right-of-use assets 1

-

828

-

54

882

There are no contractual commitments for the acquisition of IT equipment and other capital works payable in 2021 (2020: $nil).

1 Relates to asset closing balance for right-of-use assets as at 30 June 2021.

Accounting Policy

Revaluation

In 2020-21, PM&C procured the services of independent valuation experts to perform a desktop valuation of administered land, buildings and property, plant and equipment and leasehold improvements assets as at 30 June 2021.

The experts provided written assurance that the models developed to value assets are in compliance with accounting and valuation standards and identified that currently there is significant valuation uncertainty due to the COVID-19 pandemic impacting markets. However, while this uncertainty exists the valuations also took into consideration that real estate markets and in particular certain niches in the market (unique properties such as those held by PM&C) are less volatile.

The valuation methodologies used (the market approach and the depreciated replacement cost method) have reflected current market conditions and the impact of COVID-19. The department currently has no assets held for sale which may be impacted by the market uncertainty

Depreciation

Depreciation rates applying to each class of depreciable asset are based on the following useful lives for the current and prior reporting periods.

Asset class

Useful lives

Buildings excluding leasehold improvements

Leasehold improvements

Plant and equipment

22 to 30 years (2020: 22 to 30 years)

Lease term (2020: Lease term)

5 to 114 years (2020: 5 to 114 years)

4.3 Administered – Payables

2021

2020

$'000

$'000

Note 4.3A: Other payables

Salaries, wages and superannuation

33

24

Other

16

413

Total other payables

49

437

4.4 Administered – Interest bearing liabilities

Note 4.4: Leases

Lease liabilities

Buildings

851

1,314

Plant and equipment

54

-

Total finance leases

905

1,314

Maturity analysis - contractual undiscounted cash flows

Less than 12 months

463

473

Between one to five years

452

473

More than five years

-

-

Total leases

915

1,334

Total cash outflows for leases for the year ended 30 June 2021 was $0.53 million (2020: $0.37 million).

PM&C in its capacity as a lessee has a total of nine significant administered leases split into five properties

leases and four motor vehicle leases. The details of significant property leases are as follows

  1. 2 George Street Brisbane QLD – The lease has a remaining term of 2.75 years. There are no options to extend this lease and the lease expiry date is 31 March 2024.
  2. 1st Floor Murray Crescent Griffith ACT – The lease has a remaining term of 0.83 years. The lease is currently under negotiation to be surrendered after 30 June 2021.
  3. Ground Floor Murray Crescent Griffith ACT – The lease has a remaining term of 0.83 years. There are no options to extend this lease and the lease expiry date is 30 April 2022.
  4. Suite 1 Level 13 139 Macquarie Street Sydney NSW – The lease has a remaining term of 2.92 years. There are no options to extend this lease and the lease expiry date is 31 May 2024.
  5. Waterfront Place Brisbane QLD (Building and Car park) – The lease has a remaining term of 0.6 years. There are no options to extend this lease and the lease expiry date is 31 January 2022

The above lease disclosures should be read in conjunction with the accompanying notes 2.1D and 4.2.

5. Funding

for the period ended 30 June 2021

This section identifies the Department of the Prime Minister and Cabinet funding structure.

5.1 Appropriations

Note 5.1A: Departmental annual and unspent appropriations ('recoverable GST exclusive')

2021

2020

$'000

$'000

Ordinary annual services

Annual Appropriation

Operating

197,801

308,803

Capital budget

8,209

20,174

Section 74 receipts

58,081

60,926

Section 75 transfers

(6,271)

(112,458)

Total available appropriation

257,820

277,445

Appropriation applied (current and prior years)

(252,373)

(250,658)

Variance

5,447

26,787

Opening unspent appropriation balance

126,446

110,979

Repeal of Appropriation Acts 2016-17

-

-11,320

Repeal of Appropriation Act (No. 1) 2015-16

(13,963)

-

Closing unspent appropriation balance

117,930

126,446

Balance comprises appropriations as follows1:

Appropriation Act (No. 1) 2017-18 – Capital Budget (DCB) – Non Operating

-

3,795

Appropriation Act (No. 1) 2017-18

-

10,168

Appropriation Act (No. 1) 2018-19

4,000

4,000

Appropriation Act (No. 1) 2019-20

73,341

90,703

Appropriation Act (No. 1) 2019-20 – Capital Budget (DCB) – Non Operating

6,710

8,787

Appropriation Act (No. 1) 2019-20 2

-

8,993

Appropriation Act (No. 1) 2020-21

28,734

-

Appropriation Act (No. 1) 2020-21 – Capital Budget (DCB) – Non Operating

2,310

-

Appropriation Act (No. 3) 2020-21

932

-

Appropriation Act (No. 1) 2020-21 2

1,903

-

Total unspent appropriation - ordinary annual services

117,930

126,446

1 The unspent annual appropriation is shown inclusive of Section 51 permanent quarantines against Appropriation Act (No. 1) 2018-19 of $4.000 million, Appropriation Act (No. 1) 2019-20 of $73.341 million and Appropriation Act (No. 1) 2019-20 – Capital Budget – Non Operating of $6.710 million. Quarantine amounts against 2019-20 relate to the NIAA restructure (refer Note 8.2) with appropriation permanently quarantined rather than a reduction via s75 of the PGPA Act.

2 Cash held by the department. Refer to ‘Cash and cash equivalents’.

Other services

Annual Appropriation

Equity injections

-

791

Total available appropriation

-

791

Appropriation applied (current and prior years)

-

-

Variance

-

791

Opening unspent appropriation balance

139

7,063

Prior year section 75 transfers

-

(7,715)

Closing unspent appropriation balance

139

139

Balance comprises appropriations as follows :

Appropriation Act (No. 2) 2018-19 - Non Operating - Equity Injection

139

139

Total unspent appropriation - other services

139

139

Total unspent appropriation

118,069

126,585

Note 5.1B: Administered annual and unspent appropriations ('recoverable GST exclusive')

2021

2020

$'000

$'000

Ordinary annual services

Annual Appropriation

Operating

52,364

558,971

Capital budget

1,529

1,233

Payments to corporate Commonwealth entities/companies

126,283

119,184

Section 74 receipts

-

514

Section 75 transfers

-

(563,430)

Total available appropriation

180,176

116,472

Appropriation applied (current and prior years)

(173,555)

(147,921)

Variance

6,621

-31,449

Opening unspent appropriation balance

7,230

77,895

Repeal of Annual Appropriation Acts 2016-17

-

-

Repeal of Annual Appropriation Act 2017-18

(1,237)

(39,216)

Closing unspent appropriation balance

12,614

7,230

Balance comprises appropriations as follows:

Appropriation Act (No. 1) 2017-18

-

984

Appropriation Act (No. 1) 2017-18 - Capital Budget (DCB) - Non Operating

-

253

Appropriation Act (No. 1) 2018-19

107

107

Appropriation Act (No. 1) 2018-19 - Capital Budget (DCB) - Non Operating

863

863

Appropriation Act (No. 3) 2018-19

1,709

1,709

Appropriation Act (No. 1) 2018-19 - Capital Budget (DCB) - Non Operating

190

190

Appropriation Act (No. 1) 2019-20 - Capital Budget (DCB) - Non Operating

407

407

Supply Act (No. 1) 2019-20 – Capital Budget (DCB) – Non Operating

514

514

Appropriation Act (No. 3) 2019-20

2,203

2,203

Appropriation Act (No. 3) 2020-21

88

-

Appropriation Act (No. 1) 2020-21 – Capital Budget (DCB) – Non Operating

637

-

Appropriation Act (No. 3) 2020-21

5,178

-

Supply Act (No. 1) 2020-21– Capital Budget (DCB) – Non Operating

718

-

Total unspent appropriation - ordinary annual services

12,614

7,230

Other services

Annual Appropriation

Payments to corporate Commonwealth entities/companies

98,120

25,035

Total available appropriation

98,120

25,035

Appropriation applied (current and prior years)

(98,120)

(25,035)

Variance

-

-

Total unspent appropriation

12,614

7,230

Note 5.1C: Special appropriations ('recoverable GST exclusive')

Authority

Appropriation applied

2021

2020

$'000

$'000

Assistance for Severely Affected Regions (Special Appropriation) (Coronavirus Economic Response Package) Act 2020 1

14,285

-

Total

14,285

-

1 Special appropriation limited by amount (total $15.494 million) ceasing 30 June 2021.

Accounting Policy

Revenue from Government – departmental

Amounts appropriated for departmental appropriations for the year (adjusted for any formal additions and reductions) are recognised as revenue from Government when PM&C gains control of the appropriation, except for certain amounts that relate to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned. Appropriations receivable are recognised at their nominal amounts.

5.2 Special Accounts

Services for Other Entities and Trust Moneys (SOETM) 1

Aboriginal and Torres Strait Islander Corporations Unclaimed Money Account 2

Indigenous Remote Services Delivery Special Account 3

Aboriginals Benefit Account 4

2021

2020

2021

2020

2021

2020

2021

2020

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Balance brought forward from previous period

-

1,864

-

979

-

25,782

-

9,154

Increases

Administered

Other receipts

-

100

-

-

-

-

-

-

Total increase

-

100

-

-

-

-

-

-

Available for payments

-

1,964

-

979

-

25,782

-

9,154

Decreases

Administered

Transfers due to restructure

-

(1,637)

-

(979)

-

(25,782)

-

(9,154)

Payments made

-

(327)

-

-

-

-

-

-

Total decreases

-

(1,964)

-

(979)

-

(25,782)

-

(9,154)

Total balance carried to the next period

-

-

-

-

-

-

-

-

Balance represented by:

Total balance carried to the next period

-

-

-

-

-

-

-

-

1 Appropriation: Public Governance, Performance and Accountability Act 2013; section 78

Establishing Instrument: PGPA Act Determination (SOETM Special Account 2018).

Purpose: This account was created to disburse amounts held on trust or otherwise for the benefit of a person other than the Commonwealth.

This account is non-interest bearing.

2 Appropriation: Public Governance, Performance and Accountability Act 2013; section 80

Establishing Instrument: Corporations (Aboriginal and Torres Strait Islander) Act 2006; section 551-20 Purpose: To administer unclaimed moneys received by the Registrar of Aboriginal and Torres Strait Islander Corporations. This account transferred to NIAA on 1 July 2019.

This account is non-interest bearing.

3 Appropriation: Public Governance, Performance and Accountability Act 2013; section 78 Establishing Instrument: Determination 2010/06

Purpose: To support the implementation of the Remote Service Delivery National Partnership Agreement. It will provide the Australian Government with the capacity to address high priority projects in a timely way and support projects identified through the local implementation planning process. This account transferred to NIAA on 1 July 2019.

This account is non-interest bearing.

4 Appropriation: Public Governance, Performance and Accountability Act 2013; section 80

Establishing Instrument: Aboriginal Land Rights (Northern Territory) Act 1976; sections 62, 63, 64 and 65

Purpose: For the receipt and disbursement of the equivalent of mining royalty moneys derived from mining operations on Aboriginal land in the Northern Territory. This account transferred to NIAA on 1 July 2019. This account is interest bearing.

The Special Accounts above were transferred to NIAA on 1 July 2019. PM&C retains SOETM however there were no transactions or balances in 2020-21.

6. People

for the period ended 30 June 2021

This section describes a range of employment and post-employment benefits provided to our people.

6.1 Employee provisions

2021

2020

$'000

$'000

Note 6.1A: Employee provisions

Annual leave

16,426

15,058

Long service leave

25,806

25,755

Total employee provisions

42,232

40,813

Accounting policy and significant accounting judgements

Employee benefits

Liabilities for short-term employee benefits and termination benefits due within 12 months of the end of the reporting period are measured at their nominal amounts.

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 PM&C is estimated to be less than the annual entitlement for sick leave.

The leave liabilities are calculated on the basis of employees’ remuneration at the estimated salary rates that will be applied at the time the leave is taken, including PM&C’s employer superannuation contribution rates to the extent that the leave is likely to be taken during service rather than paid out on termination.

The liability for long service leave has been determined by reference to the work of an actuary. The estimate of the present value of the liability takes into account attrition rates and pay increases through promotion and inflation.

Separation and redundancy

A liability is made for separation and redundancy benefit payments. PM&C recognises a liability 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

PM&C staff are members of the Commonwealth Superannuation Scheme (CSS), the Public Sector Superannuation Scheme (PSS), the PSS accumulation plan (PSSap) or another fund of their choice.

The CSS and PSS are defined benefit schemes for the Commonwealth. 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.

PM&C makes employer contributions to the employees' superannuation scheme. For Commonwealth defined benefits schemes, these rates are determined by an actuary to be sufficient to meet the current cost to the Government. PM&C accounts for the contributions as if they were contributions to defined contribution plans.

2020

2019

$'000

$'000

Note 6.1B: Administered employee provisions

Annual leave

194

174

Long service leave

264

259

Total employee provisions

458

433

Accounting Policy

The expense and liabilities for services rendered by staff employed in the Prime Minister’s Official Establishments and in support of former Governors-General are recognised as administered items. Accounting policies are consistent with those applied to departmental items.

Note 6.1C: Non-cash benefits - former Governors-General benefits

Non-cash benefits - former Governors-General

15,330

18,008

Total non-cash benefits - former Governors-General benefits

15,330

18,008

Changes in the value of the defined benefit obligations are as follows:

Net liability at 1 July 2020

18,008

18,909

Finance costs

125

236

Actuarial losses

(1,634)

593

Benefits paid

(1,169)

(1,730)

Net liability at 30 June 2021

15,330

18,008

Principal actuarial assumptions at the reporting date (expressed as weighted averages):

Discount rate at 30 June 2021

1.27%

0.69%

Future salary increases

3.00%

2.90%

Inflation rate

2.20%

1.97%

Rate of expenditure slow down over time

1.50%

3.00%

Accounting Policy

Former Governors-General benefits

PM&C has responsibility for the administration of non-cash benefits provided to former Governors-General. These entitlements are regarded as post-employment benefits and represent the provision of office facilities, administrative support and transport.

The liability for these benefits is calculated annually as the present value of future benefit obligations. Actuarial gains or losses are recognised in equity in the year in which they occur. Interest on the liability is recognised in the surplus/(deficit).

Significant accounting judgements and estimates

The provision for non-cash former Governors-General entitlements relate to post-employment benefits such as office facilities, administrative support and transport. The future liability for these benefits is based on the actuarial assessment determined by the Australian Government Actuary, which is performed annually.

6.2 Key management personnel remuneration

2021

2020

$'000

$'000

Short-term employee benefits

2,706

3,332

Post-employment benefits

434

467

Other long-term employee benefits

64

107

Termination benefits

-

880

Total key management personnel remuneration expenses 1

3,204

4,786

1 Excludes remuneration and other benefits of the Portfolio Ministers as these are set by the Remuneration Tribunal and are not paid by PM&C.

The total number of key management personnel included in the above table is six (2020: 13).

The department has decreased its key management personnel since 2019-20, due to an internal restructure reducing the number of senior executive roles and a reduction in the number of acting arrangements throughout the year.

Key management personnel on acting arrangements are included where the length of the arrangement is longer than two months.

6.3 Related party disclosures

PM&C is an Australian Government controlled entity. Related parties to PM&C are key management personnel including the Portfolio Ministers, and other Australian Government entities.

Significant transactions with related parties can include:

  • the payments of grants or loans
  • purchases of goods and services
  • asset purchases, sales transfers or leases
  • debts forgiven, and
  • guarantees.

Transactions with related parties

There are no related party transactions to be separately disclosed.

7. Managing uncertainties

for the period ended 30 June 2021

This section analyses how the Department of the Prime Minister and Cabinet manages financial risks within its operating environment.

7.1 Contingent assets and liabilities

Note 7.1A: Contingent assets and liabilities

Quantifiable contingencies

The department holds no legal quantifiable contingent assets or liabilities as at 30 June 2021 (2020: nil).

Unquantifiable contingencies

As at 30 June 2021, the department had contingent gains likely to be receipted that are not quantifiable. There are five open legal matters relating to a range of legal issues with varying probabilities of success. It is not possible to estimate the amounts and any eventual receipts or payments that may be received or made in relation to these claims.

Accounting Policy

Contingent liabilities and contingent assets are not recognised in the Statement of Financial Position but are reported in the relevant schedules and notes. They may arise from uncertainty as to the existence of a liability or asset, or represent an asset or liability in respect of which the amount cannot be reliably measured. Contingent assets are disclosed when settlement is probable but not virtually certain and contingent liabilities are disclosed when the probability of settlement is greater than remote.

Note 7.1B: Administered contingent assets and liabilities

PM&C is not aware of any material administered quantifiable or unquantifiable contingent assets or liabilities as at 30 June 2020.

7.2 Financial instruments

2021

2020

$'000

$'000

Note 7.2A: Categories of financial instruments

Financial assets at amortised cost

Cash and cash equivalents

1,903

8,993

Goods and services receivables (net)

1,158

2,831

Accrued revenue

5,553

4,866

Total financial assets at amortised cost

8,614

16,690

Total financial assets

8,614

16,690

Financial liabilities

Financial liabilities measured at amortised cost

Trade creditors and accruals

9,127

8,501

Total financial liabilities measured at amortised cost

9,127

8,501

Total financial liabilities

9,127

8,501

Note 7.2B: Net gains or losses on financial assets

Financial assets at amortised cost

Impairment

(15)

-

Reversal of impairment

-

777

Net gains/ (losses) on financial assets at amortised cost

(15)

777

Net gain/ (loss) on financial assets

(15)

777

Accounting Policy

Impairment of financial assets

Financial assets are assessed for impairment at the end of each reporting period based on expected credit losses. Using the general approach, the loss allowance is based on an amount equal to lifetime expected credit losses where risk has significantly increased, or an amount equal to 12‐month expected credit losses if risk has not increased. The simplified approach for trade and contract receivables is used. This approach always measures the loss allowance as the amount equal to the lifetime expected credit losses.

Financial liabilities

Supplier and other payables are recognised at amortised cost. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced).

Financial liabilities are recognised and derecognised upon trade date.

Settlement of supplier payables is usually made within 30 days.

The relevant government bond rate has been used to discount non-current liabilities.

7.3 Administered – Financial instruments

2021

2020

$'000

$'000

Note 7.3A: Categories of financial instruments

Financial assets at amortised cost

Cash

-

1,342

Total financial assets at amortised cost

-

1,342

Financial assets at fair value through other comprehensive income

Investments in Corporate Commonwealth entities

2,870,473

2,597,098

Total financial assets at fair value through other comprehensive income

2,870,473

2,597,098

Total financial assets

2,870,473

2,598,440

Financial liabilities

Financial liabilities measured at amortised cost

Trade creditors and accruals

163

148

Total financial liabilities measured at amortised cost

163

148

Total financial liabilities

163

148

Note 7.3B: Net gains or losses on financial instruments

Investment in equity instruments at fair value through other comprehensive income

Changes in investments in corporate Commonwealth entities

175,255

27,018

Net gain on investments in equity instruments at fair value through other comprehensive income

175,255

27,018

Accounting Policy

Administered investments

Administered investments are classified through other comprehensive income and are measured at fair value as at 30 June 2021. Fair value has been taken to be the Australian Government's proportional interest in the net assets as advised by the entities as at the end of the reporting period recorded in the latest management accounts or unaudited financial statements provided.

Any gains or losses as a result of fair value measurement or the recognition of an impairment loss allowance is recognised in other comprehensive income.

8. Other information

for the period ended 30 June 2021

8.1. Current/non-current distinction for assets and liabilities

2021

2020

$'000

$'000

Note 8.1A: Current/non-current distinction for assets and liabilities

Assets expected to be recovered in:

No more than 12 months

Cash and cash equivalents

1,903

8,993

Trade and other receivables

36,616

31,658

Prepayments

4,736

4,040

Accrued revenue

5,553

4,866

Total no more than 12 months

48,808

49,557

More than 12 months

Leasehold improvements

30,012

36,060

Buildings

106,976

117,079

Plant and equipment

18,727

9,632

Intangibles

13,422

22,758

Prepayments

961

688

Total more than 12 months

170,098

186,217

Total assets

218,906

235,774

Liabilities expected to be settled in:

No more than 12 months

Suppliers

9,127

8,501

Other payables

4,260

5,548

Leases

7,729

289

Employee leave

15,493

20,434

Total no more than 12 months

36,609

34,772

More than 12 months

Leases

104,477

119,203

Employee leave

26,739

20,379

Total more than 12 months

131,216

139,582

Total liabilities

167,825

174,354

2021

2020

$'000

$'000

Note 8.1B: Administered – Current/non-current distinction for assets

Assets expected to be recovered in:

No more than 12 months

Cash

-

1,342

Trade and other receivables

2,017

73

Prepayments

59

174

Total no more than 12 months

2,076

1,589

More than 12 months

Property, plant and equipment

53,519

51,567

Investments in corporate Commonwealth entities

2,870,473

2,597,098

Total more than 12 months

2,923,992

2,648,665

Total assets

2,926,068

2,650,254

Liabilities expected to be settled in:

No more than 12 months

Trade creditors and accruals

163

148

Other payables

49

437

Leases

457

458

Employee provisions

209

178

Total no more than 12 months

878

1,221

More than 12 months

Leases

448

856

Employee provisions

382

280

Non-cash benefits – former Governors-General

15,330

18,008

Make good provisions

372

324

Total more than 12 months

16,532

19,468

Total liabilities

17,410

20,689

8.2 Restructuring

The National Recovery and Resilience Agency (NRRA) was established as a new agency as at 5 May 2021. The National Bushfire and Recovery Agency function has been relinquished by the department and transferred to NRRA as at that date.

FUNCTION RELINQUISHED

2021

2020

National Recovery and Resilience Agency

Indigenous Affairs

National Indigenous Australians Agency 1

$'000

$'000

$'000

FUNCTION RELINQUISHED

Assets relinquished

Cash and cash equivalents

-

37,552

-

Trade and other receivables

-

41,304

52,249

Other financial assets

-

1,042,500

750

Property, plant and equipment

116

-

75,152

Intangibles

404

-

11,535

Assets held for sale

-

-

1,012

Other non-financial assets

-

3,677

-

Total assets relinquished

520

1,125,033

140,698

Liabilities relinquished

Trade creditors and accruals

-

8,263

2,047

Grants payable

-

23,964

-

Other payables

-

2,773

16,078

Employee provisions

225

49

48,079

Make good provisions

18

-

642

Total liabilities relinquished

243

35,049

66,846

Net assets relinquished

277

1,089,984

73,852

Equity relinquished

Reserves

-

-

5,516

Total equity relinquished

-

-

5,516

1 The NIAA was established in the PM&C Portfolio on 1 July 2019. Indigenous Affairs functions were relinquished by the Department and transferred to NIAA as at that date.

FUNCTION ASSUMED

2021

2020

Deregulation – Department of Employment, Skills, Small and Family Business 2

Old Parliament House

Department of Communications and the Arts 3

$'000

$'000

$'000

FUNCTION ASSUMED

Assets recognised

Appropriation receivable

-

172

-

Investments in Corporate Commonwealth entities

-

-

117,746

Total assets recognised

-

172

117,746

Liabilities recognised

Other payables

-

11

-

Employee provisions

-

184

-

Total liabilities recognised

-

195

-

Net Assets / (liabilities) assumed

-

(23)

117,746

Income

Recognised by the receiving entity

-

268

8,665

Recognised by the losing entity

-

414

6,118

Total income assumed

-

682

14,783

Expenses

Recognised by the receiving entity

-

268

8,665

Recognised by the losing entity

-

414

6,118

Total expenses

-

682

14,783

2 PM&C assumed responsibility for the Deregulation agenda from the former Department of Employment, Skills, Small and Family Business following a decision of the Prime Minister on 4 December 2019.

3 Old Parliament House was transferred from the then Communications and the Arts portfolio to the PM&C portfolio following amendments to the Administrative Arrangements Order issued on 8 August 2019.