Administered Reconciliation Schedule
Administered Reconciliation Schedule for the Office of the Official Secretary to the Governor-General | ||||
2020 | 2019 | |||
$ | $ | |||
Opening assets less liabilities as at 1 July | 152,002,326 | 139,551,068 | ||
Adjusted opening administered assets less administered liabilities | 152,002,326 | 139,551,068 | ||
Net cost of services | ||||
Income | 24,860 | 37,736 | ||
Expenses | ||||
Payments to entities other than corporate Commonwealth entities | (3,603,510) | (3,909,074) | ||
Other comprehensive income: | ||||
Revaluations transferred to reserves | - | 10,826,729 | ||
Transfers to/from the Australian Government: | ||||
Annual Appropriations | 4,798,084 | 5,220,896 | ||
Special Appropriations | 495,000 | 425,000 | ||
Appropriation transfers to Official Public Account: | ||||
Transfers to OPA | (384,643) | (467,633) | ||
Transfer of assets from Departmental | - | 317,604 | ||
Closing assets less liabilities as at 30 June | 153,332,117 | 152,002,326 | ||
Administered Cash Transfers to and from the Official Public Account
Revenue collected by the Office for use by the Government rather than the Office 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 Office 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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