ADMINISTERED RECONCILATION SCHEDULE
for the year ended 30 June 2020
2020 | 2019 | ||
$'000 | $'000 | ||
Opening assets less liabilities as at 1 July | 819,329 | 842,933 | |
Net cost of services | |||
Income | 22,788 | 23,620 | |
Expenses | (42,373) | (37,122) | |
Other comprehensive income | |||
Revaluations transferred to reserves | 129,172 | 6,350 | |
Transfers (to)/from the Australian Government | |||
Appropriation transfers from Official Public Account | |||
Annual appropriations | |||
Payments to entities other than corporate Commonwealth entities | 36,926 | 21,402 | |
Special appropriations (limited) | |||
Payments to entities other than corporate Commonwealth entities | 7 | 22 | |
Appropriation transfers to Official Public Account | |||
Transfers to OPA | (26,375) | (26,604) | |
Restructuring | - | (11,272) | |
Closing assets less liabilities as at 30 June | 939,474 | 819,329 |
The above statement should be read in conjunction with the accompanying notes. Refer to Note 8.2 for budgetary reporting information.
Accounting Policy Administered Cash Transfers to and from the Official Public Account Revenue collected by the NCA for use by the Government rather than the NCA is administered revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of Government. These transfers to and from the OPA are adjustments to the administered cash held by the NCA on behalf of the Government and reported as such in the schedule of administered cash flows and in the administered reconciliation schedule. |
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