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Income and Expenses Administered on Behalf of Government (Cont.)

Notes to and forming part of the Financial Statements

2.2 Administered - Income (Cont.)

2019

2018

$'000

$'000

2.2C: Rental Income

Operating lease

Building rents

132

128

Diplomatic land rents

1,914

1,871

Total rental income

2,046

1,999

Rental Income Commitments

The NCA, in its capacity as lessor, administers a number of leases for land and buildings in the central national area of Canberra including cafes, restaurants, tennis courts and maintenance facilities. The NCA also administers a number of diplomatic land leases with contract periods up to 99 years.

Commitments for rental income receivables are as follows:

Within 1 year

1,741

1,783

Between 1 to 5 years

6,606

6,726

More than 5 years

58,770

60,391

Total rental income commitments receivable

67,117

68,900

2.2D: Other Revenue

Contributions for externally sponsored works

-

2,748

10

-

Total other revenue

10

2,748

Accounting Policy

Contributions for Construction of Externally Sponsored Works

As externally sponsored works are constructed through the departmental program or when the NCA gains control of assets provided by a third party, the value of work complete or assets received is recognised as an administered non-financial asset and brought to account in other revenue. Further information relating to the treatment of externally sponsored works is available at Note 1.2A.

Gains

2.2E: Reversal of write-downs and impairment

Reversal of impairment allowance on financial instruments

-

4

Total reversals of previous asset write-downs and impairments

-

4

2.2F Gains from Sale of Assets

Land

Proceeds from sale

1,601

-

Carrying value of asset sold

(1,568)

-

Total gains from sale of assets

33

-