Go to top of page

Notes to the financial statements - 2.1 Administered Expenses

2.1 Administered - Expenses

2020

$'000

2019

$'000

2.1A: Grants

Private sector

Not-for-profit organisations

19

19

Total grants

19

19

Accounting Policy

Geoscience Australia administers a grant to the International Geological Correlation Program on behalf of the Government. Grant and subsidy 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. When the Government enters into an agreement to make these grants and services but services have not been performed or criteria satisfied, this is considered a commitment.