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Administered schedule of assets and liabilities

Administered schedule of assets and liabilities as at 30 June 2019

Notes

2019

$'000

2018

$'000

Original budget

$'000

Revised budget

$'000

ASSETS

Financial Assets

Receivables - Environmental management charge

4.1A

2,128

2,094

1,867

2,094

Receivables - CDPP Court ordered fines

4.1A

619

699

699

699

Total financial assets

2,747

2,793

2,566

2,793

Non-Financial Assets

Island properties

4.2A

3,380

4,121

4,086

4,121

Total non-financial assets

3,380

4,121

4,086

4,121

Total assets administered on behalf of Government

6,127

6,914

6,652

6,914

LIABILITIES

Payables

Environmental management charge payable to Commonwealth

4.3A

2,128

2,094

1,867

2,094

CDPP court ordered fines payable to Commonwealth

4.3A

619

699

699

699

Total payables

2,747

2,793

2,566

2,793

Total liabilities administered on behalf of Government

2,747

2,793

2,566

2,793

Net assets

3,380

4,121

4,086

4,121

The above schedule should be read in conjunction with the accompanying notes.

Budget variances commentary

Statement of financial position

Affected line items and statement

Assets

Accrued receivables were $0.261m (14%) more than budget in environmental management charge, due to the unanticipated rate of tourism recovery post the natural disaster events of recent years.

Receivables - Environmental management charge

Island properties were subject to a comprehensive independent valuation which resulted in the fair value being $0.706m (17%) less than budget. This variance is the revaluation of $0.741m, as per note 4.2A, less additional rent-in-lieu of asset improvement of $0.035m.

Island properties

Liabilities

Accrued payables were $0.261m (14%) more than budget in environmental management charge, due to the unanticipated rate of tourism recovery post the natural disaster events of recent years.

Payables - Environmental management charge