Administered reconciliation schedule for the period ended 30 June 2020
2020 | 2019 | ||
$'000 | $'000 | ||
Opening assets less liabilities as at 1 July | 863,007 | (162,306) | |
Adjustment for initial application of AASB 9 | - | (4,479) | |
Adjusted opening balance | 863,007 | (166,785) | |
Net cost of services | |||
Income | 576,526 | 514,862 | |
Expenses | |||
Payments to entities other than corporate Commonwealth entities | (132,666,862) | (113,834,137) | |
Payments to corporate Commonwealth entities | (8,302,651) | (5,304,982) | |
Other comprehensive income | |||
Revaluations transferred to reserves | (1,437,928) | 700,142 | |
Transfers (to) / from the Australian Government | |||
Appropriation transfers from Official Public Account | |||
Annual appropriations | |||
Payments to entities other than corporate Commonwealth entities | 2,794,019 | 2,593,676 | |
Payments to National Disability Insurance Agency | 1,413,257 | 1,477,674 | |
Payments to National Disability Insurance Agency for reimbursement | |||
of goods and services | 6,968,250 | 3,735,082 | |
Special appropriations | |||
Payments to individuals and entities other than corporate | |||
Commonwealth entities1 | 127,336,468 | 111,140,429 | |
Special accounts | |||
Payments to individuals and entities other than corporate | |||
Commonwealth entities1, 2 | 509,900 | 447,168 | |
Appropriation transfers to Official Public Account | |||
Transfers to Official Public Account | (463,808) | (292,156) | |
Restructuring (net) | 84,104 | - | |
Net withholdings of personal benefit overpayments through equity | (146,048) | (147,988) | |
Other non-reportable items recognised | 4,060 | 22 | |
Closing assets less liabilities as at 30 June | (2,467,706) | 863,007 |
The above schedule should be read in conjunction with the accompanying notes.
1. The department made a voluntary accounting policy change in accordance with AASB 108.29 in relation to the presentation of the annual credit to the Social and Community Services Pay Equity Special Account with the annual credit disclosed separately from other special appropriations. The change is applied retrospectively.
2. Amounts relate to section 6 of the Social and Community Services Pay Equity Special Account Act 2012 credited directly to the Social and Community Services Pay Equity Special Account.
Accounting Policy
Administered Cash Transfers to and from the Official Public Account
Revenue collected by the department for use by the Australian Government rather than the department is reported as administered revenue. Collections are transferred to the Official Public Account which is maintained by the Department of Finance. Cash is drawn from the Official Public Account by the department to make payments under Parliamentary appropriation on behalf of the Australian Government. These transfers to and from the Official Public Account are adjustments to the administered cash held by the department on behalf of the Australian Government and reported as such in the administered cash flow statement and in the administered reconciliation schedule.
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