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Restatement

Correction of prior period error

The Departmental unspent appropriations balance reported in the 2018-19 Financial statements was overstated by an amount of $207,132. This amount related to Appropriation owed by Departmental to Administered. The appropriation was paid back to Administered in the 2020 Financial year. To reflect the correct Appropriation balances at 30 June 2019, the Departmental unspent appropriation, trade creditors and Administered unspent appropriation balances have been restated as below.

Period ended 30 June 2019

Previous year

Adjustments

Restated amount

$

$

$

ASSETS

Financial assets

Cash and cash equivalents

-

-

-

Trade and other receivable

3,588,132

(207,132)

3,381,000

Total financial assets

3,588,132

(207,132)

3,381,000

Non-financial assets

Leasehold improvements

1,106,472

-

1,106,472

Plant and equipment

15,613

-

15,613

Prepayments

79,142

-

79,142

Total non-financial assets

1,201,227

-

1,201,227

Total assets

4,789,359

(207,132)

4,582,227

LIABILITIES

Payables

Suppliers

713,501

(207,132)

506,369

Other payables

1,455,888

-

1,455,888

Total payables

2,169,389

(207,132)

1,962,257

Provisions

Employee provisions

484,035

-

484,035

Other provisions

70,110

-

70,110

Total provisions

554,145

-

554,145

Total liabilities

2,723,534

(207,132)

2,516,402

Net assets

2,065,825

-

2,065,825

Period ended 30 June 2019

Previous year

Adjustments

Restated amount

$

$

$

Departmental

Appropriation Act (No. 1) 2018-2019

2,920,177

(207,132)

2,713,045

Appropriation Act (No. 2) 2018-2019

138,568

-

138,568

Total departmental

3,058,745

(207,132)

2,851,613

Administered

Appropriation Act (No 1) 2017-2018

512,572

207,132

719,704

Appropriation Act (No 1) 2018-2019

1,044,946

-

1,044,946

Total administered

1,557,518

207,132

1,764,650