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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.