Appendixes
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› A: Resources for the Outcome ›
B: Financial Statements
› Independent Audit Report › Statement
by the CEO and CFO › Financial performance
› Financial position › Cash
flows › Commitments › Contingencies
› Notes
› 1 Accounting policies › 2 Adoption
of equivalents › 3 Events after reporting date ›
4 Revenues › 5 Expenses ›
6 Borrowing costs › 7 Financial assets
› 8 Non-financial assets › 9 Interest
bearing liabilities › 10 Provisions › 11
Payables › 12 Equity › 13
Cash flow reconciliation › 14 Contingent liabilities and
assets › 15 Executive remuneration › 16
Remuneration of auditors › 17 Average staffing levels
› 18 Financial instruments › 19
Appropriations › 20 Specific payment disclosures ›
21 Reporting outcomes
Australian Public Service Commission
Notes to and forming part of the financial statements
for the year ended 30 June 2005
Note 12: Equity
12a Analysis of Equity
| Item | Accumulated results | Asset revaluation reserves | Contributed equity | Total equity | ||||
| 2005 $’000 |
2004 $’000 |
2005 $’000 |
2004 $’000 |
2005 $’000 |
2004 $’000 |
2005 $’000 |
2004 $’000 |
|
| Opening balance as at 1 July | 2,760 | 3,989 | 1,290 | 1,090 | (1,868) | 1,157 | 2,182 | 6,236 |
| Net surplus / (deficit) | 783 | (1,229) | - | - | - | - | 783 | (1,229) |
| Net revaluation increment | - | - | - | 25 | - | - | - | 25 |
| Increase to asset revaluation reserve on initial application of fair value under accounting standard AASB 1041 Revaluation of Non-current Assets | - | - | - | 175 | - | - | - | 175 |
| Transactions with owner: | ||||||||
| Distributions to owner: | ||||||||
| Returns of Capital | ||||||||
| Returns of contributed equity | - | - | - | - | - | (3,025) | - | (3,025) |
| Restructuring | - | - | - | - | (26) | - | (26) | - |
| Closing balance as at 30 June | 3,543 | 2,760 | 1,290 | 1,290 | (1,894) | (1,868) | 2,939 | 2,182 |
Returns of contributed equity
In 2003-04, by agreement with Finance, the Commission returned $3,025,000 to the Official Public Account. The Government reappropriated this amount back to the Commission to fund two Strategic Priorities – Australian Public Service Indigenous Employment Strategy and Integrated Leadership Strategy. The majority of the funding will be received during 2003-04 to 2005-06.
Restructuring
On 28 March 2005, the Prime Minister agreed on behalf of the Government to the transfer of the function of development and promotion of Indigenous recruitment and retention strategies throughout the Australian Public Service from the Department of Immigration and Multicultural and Indigenous Affairs to the Australian Public Service Commission, effective in financial year 2004-05. As part of this transfer, the Commission received an employee leave provision of $34,000 and $8,000 in funding for this provision. The net difference of $26,000 was recognised as a direct adjustment to contributed equity. The full annual revenue and expense for this function for 2004/05 was $599,000.
