Note 1: Summary of Significant Accounting Policies

1.1 Objectives of the Australian Electoral Commission

The Australian Electoral Commission (AEC) is an independent statutory body established under the Commonwealth Electoral Act 1918 for the purpose of conducting elections and referendums, maintaining the electoral roll, providing electoral information, education programs and related services and managing funding and disclosure in relation to political parties.

While the AEC is predominantly funded by Parliamentary appropriations, revenue is also received for the provision of electoral services to other organisations.

The AEC is structured under one outcome to meet the following three programs:

Program 1: Voter entitlement for Australians and support for electoral events and redistributions through maintaining an accurate and up-to-date electoral roll.

Program 2: Access to an impartial and independent electoral system for Australians through the provision of electoral services.

Program 3: Informed Australians through the provision of information services on electoral matters.

AEC activities contributing toward this outcome are classified as either departmental or administered. Departmental activities involve the use of assets, liabilities, income and expenses controlled or incurred by the AEC in its own right. Administered activities involve the management or oversight by the AEC, on behalf of the Government, of items controlled or incurred by the Government.

Administered items managed for the Government by the AEC are primarily the payment of Election Public Funding and collection of Electoral Fees and Fines under the operations of Program 2 (Impartial and independent electoral services).

The Australian Government continues to have regard to developments in case law, including the High Court’s most recent decision on Commonwealth expenditure in Williams v Commonwealth (2012) 288 ALR 410, as they contribute to the larger body of law relevant to the development of Commonwealth programs. In accordance with its general practice, the Government will continue to monitor and assess risk and decide on any appropriate actions to respond to risks of expenditure not being consistent with constitutional or other legal requirements.

1.2 Basis of Preparation of the Financial Statements

The financial statements are general purpose financial statements and are required by section 49 of the Financial Management and Accountability Act 1997.

The financial statements have been prepared in accordance with:

  1. Finance Minister’s Orders (FMOs) for reporting periods ending on or after 1 July 2011
  2. Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) that apply for the reporting period.

The financial statements have been prepared on an accrual basis and in accordance with the historical cost convention, except for certain assets and liabilities at fair value. Except where stated, no allowance is made for the effect of changing prices on the results or the financial position.

The financial statements are presented in Australian dollars and values are rounded to the nearest thousand dollars unless otherwise specified.

Unless an alternative treatment is specifically required by an accounting standard or the FMOs, assets and liabilities are recognised in the balance sheet when and only when it is probable that future economic benefits will flow to the AEC or a future sacrifice of economic benefits will be required and the amounts of the assets or liabilities can be reliably measured. However, assets and liabilities arising under executor contracts are not recognised unless required by an accounting standard. Liabilities and assets that are unrecognised are reported in the schedule of commitments or the schedule of contingencies.

Unless alternative treatment is specifically required by an accounting standard, income and expenses are recognised in the Statement of Comprehensive Income when and only when the flow, consumption or loss of economic benefits has occurred and can be reliably measured.

1.3 Significant Accounting Judgements and Estimates

No accounting assumptions or estimates have been identified that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

1.4 New Australian Accounting Standards

Adoption of New Australian Accounting Standard Requirements

No accounting standard has been adopted earlier than the application date as stated in the standard. Of the new standards, amendments to standards and interpretations issued prior to the sign-off date, where applicable to the current reporting period had no financial impact on the AEC, although changes to AASB 101 Presentation of Financial Statements have changed the presentation of the AEC’s Financial Statements.

Future Australian Accounting Standard Requirements

The new standards, amendments to standards and interpretations issued by the Australian Accounting Standards Board prior to the sign-off date, are not expected to have a financial impact on the AEC for future reporting periods.

1.5 Revenue

Revenue from the sale of goods is recognised when:

  1. the risks and rewards of ownership have been transferred to the buyer
  2. the AEC retains no managerial involvement or effective control over the goods
  3. the revenue and transaction costs incurred can be reliably measured
  4. it is probable that the economic benefits associated with the transaction will flow to the AEC.

Revenue from rendering of services is recognised by reference to the stage of completion of contracts at the reporting date. The revenue is recognised when:

  1. the amount of revenue, stage of completion and transaction costs incurred can be reliably measured; and
  2. the probable economic benefits associated with the transaction will flow to the AEC.

The stage of completion of contracts at the reporting date is determined by reference to the proportion that costs incurred to date bear to the estimated total costs of the transaction.

Receivables for goods and services, which have 30 day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable.

The AEC receives funding for programs under a Record of Understanding with AusAID. The nature of funding falls within two broad categories:

  • Specific services. These include training, hosting of international visitors or representation on a specific forum or council. Funding for specific services is recognised as revenue to the extent of costs incurred to date.
  • Generic services. This covers the cost of maintaining a presence in a country to provide advice and support to the Government of a specific nation in relation to electoral matters. Funding for generic services is recognised as revenue when the AEC is entitled to receive program funding.

Revenue from Government

Amounts appropriated for departmental appropriations for the year (adjusted for any formal additions and reductions) are recognised as Revenue from Government when the AEC gains control of the appropriation, except for certain amounts that relate to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned. Appropriations receivable are recognised at their nominal amounts.

Parental Leave Payments Scheme

Amounts received under the Parental Leave Payments Scheme by the AEC not yet paid to employees are presented gross as cash and a liability (payable). The total amount received under this scheme is disclosed as a footnote to the Note 7A: Suppliers.

1.6 Gains

Resources Received Free of Charge

Resources received free of charge are recognised as either revenue or gains depending on their nature when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense.

Contributions of assets at no cost of acquisition or for nominal consideration are recognised as gains at their fair value when the asset qualifies for recognition, unless received from another Government entity as a consequence of a restructuring of administrative arrangements (Refer to Note 1.7).

Sale of Assets

Gains from disposal of assets are recognised when control of the asset has passed to the buyer.

1.7 Transactions with the Government as Owner

Equity Injections

Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and from 1 July 2010, Departmental Capital Budgets (DCBs) are recognised directly in contributed equity in that year.

Restructuring of Administrative Arrangements

Net assets received from or relinquished to another Government entity under a restructuring of administrative arrangements are adjusted at their book value directly against contributed equity.

Other Distributions to Owners

The FMOs require that distributions to owners be debited to contributed equity unless it is in the nature of a dividend. There were no distributions to owners in 2012–13 or 2011–12.

1.8 Employee Benefits

Liabilities for ‘short-term employee benefits’ (as defined in AASB 119 Employee Benefits) and termination benefits due within twelve months of the end of reporting period are measured at their nominal amounts.

The nominal amount is calculated with regard to the rates expected to be paid on settlement of the liability.

Other long-term employee benefits are measured as net total of the present value of the defined benefit obligation at the end of the reporting period minus the fair value at the end of the reporting period of plan assets (if any) out of which the obligations are to be settled directly.

Leave

The liability for employee benefits includes provision for annual leave and long service leave. No provision has been made for sick leave as all sick leave is non-vesting and the average sick leave taken in future years by employees of the AEC is estimated to be less than the annual entitlement for sick leave.

The leave liabilities are calculated on the basis of employees’ remuneration at the estimated salary rates that will be applied at the time the leave is taken, including the AEC’s employer superannuation contribution rates to the extent that the leave is likely to be taken during service rather than paid out on termination.

The liability for long service leave has been determined by reference to the work of an actuary as at 30 June 2013. The estimate of the present value of the liability takes into account attrition rates and pay increases through promotion and inflation.

Annual leave is disclosed as current as there is a legal right to the payment, irrespective of whether the payment is expected to be paid within 12 months or not.

Separation and Redundancy

Provision is made for separation and redundancy benefit payments. The AEC recognises a provision for termination when it has developed a detailed formal plan for the terminations and has informed those employees affected that it will carry out the terminations.

Superannuation

AEC staff are members of the Commonwealth Superannuation Scheme (CSS), the Public Sector Superannuation Scheme (PSS), the PSS accumulation plan (PSSap) or have exercised SuperChoice and nominated their own fund.

The CSS and PSS are defined benefit schemes for the Australian Government. The PSSap is a defined contribution scheme.

The liability for defined benefits is recognised in the financial statements of the Australian Government and is settled by the Australian Government in due course. This liability is reported in the Department of Finance and Deregulation’s administered schedules and notes.

The AEC makes employer contributions to the employees’ superannuation scheme at rates determined by an actuary to be sufficient to meet the current cost to the Government. The AEC accounts for the contributions as if they were contributions to defined contribution plans.

The liability for superannuation recognised as at 30 June represents outstanding contributions for the final seven working days of the year.

Temporary staff members of the AEC have their superannuation paid into their nominated fund or if no fund is nominated, the Australian Government Employees Superannuation Trust (AGEST) fund is used.

1.9 Leases

A distinction is made between finance leases and operating leases. Finance leases effectively transfer from the lessor to the lessee substantially all the risks and rewards incidental to ownership of leased assets. An operating lease is a lease that is not a finance lease. In operating leases, the lessor effectively retains substantially all such risks and benefits.

The AEC did not have any finance leases as at 30 June 2013.

Payments for operating leases with fixed increases are expensed on a straight-line basis which is representative of the pattern of benefits derived from the leased assets.

Lease incentives taking the form of ‘free’ leasehold improvements and rent holidays are recognised as an asset and a liability. These assets are reduced across the life of the lease by allocating lease payments between rental expense and reduction of the liability.

1.10 Cash

Cash is recognised at its nominal amount. Cash and cash equivalents include notes and coins held and any deposits in bank accounts held at call with a bank or financial institution.

1.11 Financial Assets

Loans and Receivables

Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as ‘loans and receivables’. Loans and receivables are measured at amortised cost using the effective interest method less impairment. Interest is recognised by applying the effective interest rate.

Impairment of Financial Assets

Financial assets are assessed for impairment at the end of each reporting period.

Financial assets held at amortised cost – if there is objective evidence that an impairment loss has been incurred for loans and receivables or held to maturity investments held at amortised cost, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows discounted at the asset’s original effective interest rate. The carrying amount is reduced by way of an allowance account. The loss is recognised in the Statement of Comprehensive Income.

Effective Interest Method

The effective interest method is a method of calculating the amortised cost of a financial asset and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset or, where appropriate, a shorter period.

Income is recognised on an effective interest rate basis except for financial assets that are recognised at fair value through profit or loss.

1.12 Financial Liabilities

Other Financial Liabilities

Supplier and other payables are recognised at amortised cost. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced).

1.13 Contingent Liabilities and Contingent Assets

Contingent liabilities and contingent assets are not recognised in the balance sheet but are reported in the relevant schedules and notes. They may arise from uncertainty as to the existence of a liability or asset or represent an asset or liability in respect of which the amount cannot be reliably measured. Contingent assets are disclosed when settlement is probable but not virtually certain and contingent liabilities are disclosed when settlement is greater than remote.

1.14 Acquisition of Assets

Assets are recorded at cost on acquisition except as stated below. The cost of acquisition includes the fair value of assets transferred in exchange and liabilities undertaken. Financial assets are initially measured at their fair value plus transaction costs where appropriate.

Assets acquired at no cost, or for nominal consideration, are initially recognised as assets and income at their fair value at the date of acquisition.

1.15 Property, Plant and Equipment

Asset Recognition Threshold

Purchases of property, plant and equipment are recognised initially at cost in the balance sheet, except for purchases costing less than $2 000, which are expensed in the year of acquisition (other than where they form part of a group of similar items which are significant in total).

The initial cost of an asset includes an estimate of the cost of dismantling and removing the item and restoring the site on which it is located. This is particularly relevant to ‘makegood’ provisions in property leases taken up by the AEC where there exists an obligation to restore the property to its original condition. These costs are included in the value of the AEC’s leasehold improvements with a corresponding provision for the ‘makegood’ recognised.

Revaluations

Fair values for each class of asset are determined as shown below
Asset Class Fair value measured at:
Leasehold Improvements Depreciation Replacement Cost
Infrastructure, Plant and Equipment Market Selling Price

Following initial recognition at cost, infrastructure, plant and equipment are carried at fair value less subsequent accumulated depreciation and accumulated impairment losses. Full valuations are conducted every five years and an internal assessment is carried out in the other years to ensure that the carrying amounts of assets did not differ materially from the assets fair values as at the reporting date. Valuations are carried out by an independent qualified valuer.

Revaluation adjustments are made on a class basis. Any revaluation increment was credited to equity under the heading of asset revaluation reserve except to the extent that it reversed a previous revaluation decrement of the same asset class that was previously recognised in the surplus/deficit. Revaluation decrements for a class of assets are recognised directly in the surplus/deficit except to the extent that they reversed a previous revaluation increment for that class.

Any accumulated depreciation as at the revaluation date is eliminated against the gross carrying amount of the asset and the asset restated to the revalued amount.

Depreciation

Depreciable property, plant and equipment assets are written-off to their estimated residual values over their estimated useful lives to the AEC using, in all cases, the straight-line method of depreciation.

Depreciation rates (useful lives), residual values and methods are reviewed at each reporting date and necessary adjustments are recognised in the current, or current and future reporting periods, as appropriate.

Depreciation rates applying to each class of depreciable asset are based on the following useful lives
  2013 2012
Leasehold improvements lesser of lease term/useful life lesser of lease term/useful life
Plant and Equipment 5 to 10 years 5 to 10 years
IT Equipment 3 to 5 years 3 to 5 years

Impairment

All assets were assessed for impairment at 30 June 2013. Where indications of impairment exist, the asset’s recoverable amount is estimated and an impairment adjustment made if the asset’s recoverable amount is less than its carrying amount.

The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Value in use is the present value of the future cash flows expected to be derived from the asset. Where the future economic benefit of an asset is not primarily dependent on the asset’s ability to generate future cash flows, and the asset would be replaced if the AEC were deprived of the asset, its value in use is taken to be its depreciated replacement cost.

1.16 Intangibles

The AEC’s intangibles comprise purchased software with an initial cost greater than $5 000 and internally developed software for internal use. These assets are carried at cost less accumulated amortisation and accumulated impairment losses.

Software is amortised on a straight-line basis over its anticipated useful life. The useful life of the AEC’s software is between 1 to 10 years (2011–12: 1 to 10 years).

All software assets were assessed for indications of impairment as at 30 June 2013.

1.17 Inventories

Inventories held for distribution are valued at cost, adjusted for any loss of service potential. The items recognised as inventory have been narrowed to include only cardboard equipment and declaration envelopes.

1.18 Taxation/Competitive Neutrality

The AEC is exempt from all forms of taxation except Fringe Benefits Tax (FBT) and the Goods and Services Tax (GST).

Revenues, expenses and assets are recognised net of GST except:

  1. where the amount of GST incurred is not recoverable from the Australian Taxation Office; and
  2. for receivables and payables.

1.19 Reporting of Administered Activities

Administered revenues, expenses, assets, liabilities and cash flows are disclosed in the administered schedules and related notes.

Except where otherwise stated below, administered items are accounted for on the same basis and using the same policies as for departmental items, including the application of Australian Accounting Standards.

Administered Cash Transfers to and from the Official Public Account

Revenue collected by the AEC for use by the Government rather than the AEC is administered revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance and Deregulation. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of the Government. These transfers to and from the OPA are adjustments to the administered cash held by the AEC on behalf of the Government and reported as such in the schedule of administered cash flows and in the administered reconciliation schedule.

Revenue

All administered revenues are revenues relating to ordinary activities performed by the AEC on behalf of the Australian Government. As such, administered appropriations are not revenues of the individual entity that oversees distribution or expenditure of the funds as directed.

Note 2: Events After the Reporting Period

Departmental

On 1 July 2013, the Statute Stocktake (Appropriations) Act 2013 received royal assent to repeal all old Annual Appropriation Acts from 1 July 1999 to 30 June 2010. Under this requirement the AEC will return $0.400 million to Consolidated Revenue. This balance is included in Appropriations Receivable in Note 5B.

Administered

There are no events after the reporting date that will materially affect the financial statements.

Note 3: Expenses

Expenses
2013
$'000
2012
$’000
Note 3A: Employee Benefits  
Wages and salaries 65 266 62 302
Superannuation:  
Defined contribution plans 6 740 5 805
Defined benefit plans 3 975 3 464
Leave and other entitlements (852) 3 312
Separation and redundancies 1 803 1 773
Total employee benefits 76 932 76 656
Note 3B: Suppliers  
Goods and services  
Consultants 941 549
Contractors 4 553 3 985
Travel 3 765 4 391
IT services 10 675 9 658
Inventory 114 607
Other 17 958 19 239
Total goods and services 38 006 38 429
Goods and services are made up of:  
Provision of goods – related entities 214 654
Provision of goods – external parties 15 884 16 154
Rendering of services – related entities 5 646 1 859
Rendering of services – external parties 16 262 19 762
Total goods and services 38 006 38 429
Other supplier expenses  
Operating lease rentals – related entities:  
Minimum lease payments 1 797 1 781
Operating lease rentals – external parties:  
Minimum lease payments 9 301 8 946
Workers compensation expenses 676 845
Total other supplier expenses 11 774 11 572
Total supplier expenses 49 780 50 001
Note 3C: Depreciation and Amortisation  
Depreciation:  
Property, plant and equipment 1 969 2 213
Leasehold Improvements 3 670 1 678
Total depreciation 5 639 3 891
Amortisation:  
Intangibles 2 765 2 343
Total amortisation 2 765 2 343
Total depreciation and amortisation 8 404 6 234
Note 3D: Write-Down and Impairment of Assets  
Asset write-downs and impairments from:  
Impairment of receivables 1 22
Total write-down and impairment of assets 1 22
Note 3E: Disposal of Assets  
Property, plant and equipment:  
Proceeds (25)
Carrying value of assets disposed 89 845
Computer Software  
Proceeds
Carrying value of assets disposed 57
Net loss from disposal of assets 121 845

Note 4: Income

Income
  2013
$'000
2012
$’000
Own-source revenue  
Note 4A: Sale of Goods and Rendering of Services  
Provision of goods – related entities 72 37
Provision of goods – external parties 11 762 11 496
Rendering of services – related entities 5 078 5 863
Rendering of services – external parties 869 196
Total sale of goods and rendering of services 17 781 17 592
Note 4B: Other Revenue  
Other 1 074 232
Total other revenue 1 074 232
Gains  
Note 4C: Other Gains  
Resources received free of charge 84 82
Compensation payments received 210
Change in fair value through profit and loss:  
Leasehold Improvements (93) 291
Total other gains (9) 583
Revenue from government  
Note 4D: Revenue from Government  
Appropriations:  
Departmental appropriation 105 257 97 200
Departmental special appropriations 9 000 9 000
Total revenue from Government 114 257 106 200

Departmental Appropriation for 2012–13 includes an amount of $3.795m relating to Appropriation Act 1 (2013–14).

Note 5: Financial Assets

Financial Assets
  2013
$’000
2012
$’000
Note 5A: Cash and Cash Equivalents    
Cash on hand or on deposit 1 689 1 535
Total cash and cash equivalents 1 689 1 535
Note 5B: Trade and Other Receivables    
Good and Services:    
Goods and services – related entities 153 730
Goods and services – external parties 1 401 114
Total receivables for goods and services 1 554 844
Appropriations receivable:    
Program funding 11 986 9 240
Equity Injections 1 654 4 581
Departmental Capital Budget 4 922 3 090
Total appropriations receivable 18 562 16 911
Other receivables:    
GST receivable from the Australian Taxation Office 316 612
Other – related entities 213 243
Other – external parties 672 3 757
Total other receivables 1 201 4 612
Total trade and other receivables (gross) 21 317 22 367
Less impairment allowance account:    
Goods and services 1
Total impairment allowance account 1
Total trade and other receivables (net) 21 317 22 366
Receivables are expected to be recovered in:    
No more than 12 months 21 317 22 366
More than 12 months
Total trade and other receivables (net) 21 317 22 366
Receivables are aged as follows:    
Not overdue 21 257 22 329
Overdue by:    
0 to 30 days 41 35
31 to 60 days 14 2
61 to 90 days
More than 90 days 5 1
Total receivables (gross) 21 317 22 367
The impairment allowance account is aged as follows:    
Overdue by:    
More than 90 days 1
Total impairment allowance account 1

Credit terms for goods and services are within 30 days (2012: 30 days).

Reconciliation of the Impairment Allowance Account:

Movements in relation to 2013
  Goods and services
$’000
Total
$’000
Opening balance 1 1
Amounts written off
Amounts recovered and reversed
Increase/decrease recognised in net surplus (1) (1)
Closing balance
Movements in relation to 2012
  Goods and services
$’000
Total
$’000
Opening balance
Amounts written off
Amounts recovered and reversed
Increase/decrease recognised in net surplus 1 1
Closing balance 1 1

Note 6: Non-Financial Assets

6A: Land and Buildings
  2013
$’000
2012
$’000
Note 6A: Land and Buildings    
Leasehold improvements:    
Work in progress 1 997 45
Fair value 10 168 8 575
Accumulated depreciation (233)
Total leasehold improvements 11 932 8 620
Total land and buildings 11 932 8 620

No indicators of impairment were found for land and buildings (2012: $nil).

No land or buildings were expected to be sold or disposed of within the next 12 months.

6B: Property, Plant and Equipment
  2013
$’000
2012
$’000
Note 6B: Property, Plant and Equipment    
Other property, plant and equipment:    
Fair value 5 796 3 814
Accumulated depreciation
Total other property, plant and equipment 5 796 3 814
Total property, plant and equipment 5 796 3 814

No indicators of impairment were found for infrastructure, plant and equipment (2012: $nil).

Revaluations of non-financial assets

All revaluations were conducted in accordance with the revaluation policy stated at Note 1. In June 2013, an independent valuer from Rodney Hyman Asset Services Pty Ltd conducted a desktop update of the assets valued in 2012 plus the additions and disposals for the 2012–13 financial year.

A revaluation increment of $537 552 for leasehold improvements (2012: $204 195) was credited to the asset revaluation reserve by asset class and included in the equity section of the balance sheet. There was no revaluation increment for makegood (2012: $331 083). Similarly an increment of $1 395 557 for plant and equipment (2012: $29 708 decrement) was credited to the asset revaluation reserve and included in the equity section of the balance sheet.

6C: Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment 2013
  Leasehold Improvements
$’000
Other Property, Plant and Equipment
$’000
Total
$’000
As at 1 July 2012      
Gross book value 8 620 3 814 12 434
Accumulated depreciation and impairment
Net book value 1 July 2012 8 620 3 814 12 434
Additions      
By purchase 6 469 2 619 9 088
Revaluations and impairments recognised in other comprehensive income 538 1 396 1 934
Depreciation expense (3 670) (1 969) (5 639)
Disposals (25) (64) (89)
Net book value 30 June 2013 11 932 5 796 17 728
Net book value as of 30 June 2013 represented by:      
Gross book value 12 165 5 796 17 961
Accumulated depreciation and impairment (233) (233)
Net book value 30 June 2013 11 932 5 796 17 728
6C: Reconciliation of the Opening and Closing Balances of Property, Plant and Equipment 2012
  Leasehold Improvements
$’000
Other Property, Plant and Equipment
$’000
Total
$’000
As at 1 July 2011      
Gross book value 7 603 4 423 12 026
Accumulated depreciation and impairment (858) (858)
Net book value 1 July 2011 6 745 4 423 11 168
Additions      
By purchase 3 820 1 689 5 509
Revaluations and impairments recognised in other comprehensive income 535 (30) 505
Revaluations recognised in the operating result
Depreciation expense (1 678) (2 213) (3 891)
Disposals (802) (55) (857)
Net book value 30 June 2012 8 620 3 814 12 434
Net book value as of 30 June 2012 represented by:      
Gross book value 8 620 3 814 12 434
Accumulated depreciation and impairment
Net book value 30 June 2012 8 620 3 814 12 434
6D: Intangibles
  2013
$’000
2012
$’000
Note 6D: Intangibles    
Computer software:    
Internally developed – in progress 123 496
Internally developed – in use 45 575 40 711
Purchased 2 265 1 950
Accumulated amortisation (32 060) (29 483)
Total computer software 15 903 13 674
Total intangibles 15 903 13 674

No indicators of impairment were found for intangible assets (2012: $nil).

No intangibles are expected to be sold or disposed of within the next 12 months.

Note 6E: Reconciliation of the Opening and Closing Balances of Intangibles 2013
  Computer software internally developed
$’000
Computer software purchased
$’000
Total
$’000
As at 1 July 2012      
Gross book value 41 207 1 950 43 157
Accumulated amortisation and impairment (27 902) (1 581) (29 483)
Net book value 1 July 2012 13 305 369 13 674
Additions      
By purchase or internally developed 4 736 315 5 051
Amortisation (2 577) (188) (2 765)
Disposals (57) (57)
Net book value 30 June 2013 15 407 496 15 903
Net book value as of 30 June 2013 represented by:      
Gross book value 45 698 2 265 47 963
Accumulated amortisation and impairment (30 291) (1 769) (32 060)
Net book value 30 June 2013 15 407 496 15 903
Note 6E: Reconciliation of the Opening and Closing Balances of Intangibles 2012
  Computer software internally developed
$’000
Computer software purchased
$’000
Total
$’000
As at 1 July 2011      
Gross book value 37 479 1 838 39 317
Accumulated amortisation and impairment (26 013) (1 258) (27 271)
Net book value 1 July 2012 11 466 580 12 046
Additions      
By purchase or internally developed 3 728 245 3 973
Amortisation (1 889) (454) (2 343)
Disposals (2) (2)
Net book value 30 June 2012 13 305 369 13 674
Net book value as of 30 June 2012 represented by:      
Gross book value 41 207 1 950 43 157
Accumulated amortisation and impairment (27 902) (1 581) (29 483)
Net book value 30 June 2012 13 305 369 13 674
6F: Inventories
  2013
$’000
2012
$’000
Note 6F: Inventories    
Inventories held for distribution    
Election equipment at cost (ballot paper and voting equipment) 3 594 2 983
Total inventories 3 594 2 983

During 2012–13, $114 420 of inventory held for distribution was recognised as an expense (2011–12: $607 039).

No items of inventory were recognised at fair value less cost to sell.

6G: Other Non-Financial Assets
  2013
$’000
2012
$’000
Note 6G: Other Non-Financial Assets    
Prepayments 1 653 2 191
Total other non-financial assets 1 653 2 191
Total other non-financial assets – are expected to be recovered in:    
No more than 12 months 1 611 2 155
More than 12 months 42 36
Total other non-financial assets 1 653 2 191

No indicators of impairment were found for other non-financial assets.

Note 7: Payables

7A: Suppliers
  2013
$’000
2012
$’000
Note 7A: Suppliers    
Trade creditors and accruals 5 728 8 436
Total supplier payables 5 728 8 436
Supplier payables expected to be settled within 12 months:    
Related entities 638 2 849
External parties 5 090 5 587
Total 5 728 8 436
Total supplier payables 5 728 8 436

Settlement was usually made within 30 days.

The AEC received $160 751 (2012: $120 338) under the Paid Parental Leave Scheme.

7B: Other Payables
  2013
$’000
2012
$’000
Note 7B: Other Payables    
Salaries and wages 2 074 2 337
Superannuation 314 271
Separations and redundancies 89
Lease incentives 4 421 3 550
Straight-line leases 306 180
Unearned revenue 1 403 2 823
Total other payables 8 518 9 250
Total other payables are expected to be settled in:    
No more than 12 months 4 351 5 977
More than 12 months 4 167 3 273
Total other payables 8 518 9 250

Note 8: Provisions

Provisions
  2013
$’000
2012
$’000
Note 8A: Employee Provisions    
Leave 22 535 23 250
Total employee provisions 22 535 23 250
Employee provisions are expected to be settled in:    
No more than 12 months 5 784 5 843
More than 12 months 16 751 17 407
Total employee provisions 22 535 23 250
Note 8B: Other Provisions    
Provision for restoration obligations 1 553 1 538
Total other provisions 1 553 1 538
Other provisions are expected to be settled in:    
No more than 12 months 225 356
More than 12 months 1 328 1 182
Total other provisions 1 553 1 538
Provision
  Provision for restoration
$’000
Total
$’000
Carrying amount 1 July 2012 1 538 1 538
Additional provisions made 177 177
Amounts used (254) (254)
Amounts reversed 79 79
Unwinding of discount 13 13
Closing balance 2013 1 553 1 553

The AEC currently has 35 (2012: 36) agreements for the leasing of premises which have provisions requiring the entity to restore the premises to their original condition at the conclusion of the lease. The entity has made a provision to reflect the present value of this obligation.

Note 9: Cash Flow Reconciliation

Cash Flow Reconciliation
  2013
$’000
2012
$’000
Reconciliation of cash and cash equivalents as per Balance Sheet to Cash Flow Statement    
Cash and cash equivalents as per:    
Cash flow statement 1 689 1 535
Balance sheet 1 689 1 535
Difference
Reconciliation of net cost of services to net cash from operating activities:    
Net cost of services (116 392) (115 351)
Add revenue from Government 114 257 106 200
Adjustments for non-cash items    
Depreciation/amortisation 8 404 6 234
Net write (up)/down of makegood liability (163) (372)
Loss/(gain) on disposal of assets 121 845
Changes in assets/liabilities    
(Increase)/decrease in lease incentive asset 89 (32)
(Increase)/decrease in net receivables (46) (9 031)
(Increase)/decrease in inventories (611) 398
(Increase)/decrease in prepayments 538 (68)
Increase/(decrease) in employee provisions (715) 3 500
Increase/(decrease) in supplier payables (1 940) 3 101
Increase/(decrease) in other payable (732) 5 383
Net cash from operating activities 2 810 807

Note 10: Contingent Assets and Liabilities

Contingent Assets and Liabilities
  Claims for damages or costs Total
  2013
$’000
2012
$’000
2013
$’000
2012
$’000
Contingent assets        
Balance from previous period 90 41 90 41
New contingent assets recognised 90 90
Assets recognised (90) (41) (90) (41)
Total contingent assets 90 90
Net contingent assets 90 90

Quantifiable Contingencies

At 30 June 2013, the AEC had no quantifiable contingencies (2012: $58 906 of contingent assets in respect of recoverable court costs). The 2012 estimate is based on costs incurred by the AEC.

Unquantifiable Contingencies

At 30 June 2013, the AEC had no unquantifiable contingencies.

Significant Remote Contingencies

The AEC has no significant remote contingencies.

Note 11: Senior Executive Remuneration

Note 11A: Senior Executive Remuneration Expenses for the Reporting Period
  2013
$
2012
$
Short-term employee benefits:    
Salary 3 160 047 2 638 334
Annual leave accrued 234 869 198 388
Other2 57 467 59 672
Total short-term employee benefits 3 452 383 2 896 394
Post-employment benefits:    
Superannuation 543 824 493 774
Total post-employment benefits 543 824 493 774
Other long-term benefits:    
Long-service leave 75 493 63 768
Total other long-term benefits 75 493 63 768
Termination benefits 373 051
Total employment benefits 4 071 700 3 826 987
  1. This note is prepared on an accruals basis.
  2. Other includes higher duties, FBT and retention payments.
  3. Note 11A excludes acting arrangements and part-year service where total remuneration expensed for a senior executive was less than $180 000.
Note 11B: Average annual reportable remuneration paid to substantive senior executives in 2013
Average annual reportable remuneration1 Senior Executives No Reportable salary2
$
Contributed superannuation3
$
Reportable allowances4
$
Bonus paid5
$
Total
$
Total remuneration (including part-time arrangements):            
less than $180 000 2 141 028 17 523 158 551
$180 000 to $209 999 9 169 511 23 166 192 677
$210 000 to $239 999 3 195 182 26 757 221 939
$240 000 to $269 999 4 225 936 33 915 126 259 977
$360 000 to $389 999 1 332 283 44 931 377 214
Total 19          
Note 11B: Average annual reportable remuneration paid to substantive senior executives in 2012
Average annual reportable remuneration1 Senior Executives No Reportable salary2
$
Contributed superannuation3
$
Reportable allowances4
$
Bonus paid5
$
Total
$
Total remuneration (including part-time arrangements):            
less than $180 000 6 146 036 13 338 159 374
$180 000 to $209 999 8 174 557 20 476 195 033
$210 000 to $239 999 3 198 689 23 416 222 105
$240 000 to $269 999 2 222 050 26 985 249 035
$330 000 to $359 999 1 312 589 40 071 352 660
$360 000 to $389 999 1 365 769 16 166 381 935
Total 21          
  1. This table reports substantive senior executives who received remuneration during the reporting period. Each row represents an averaged figure based on headcount for individuals in the remuneration band (i.e. the ‘Total’ column).
  2. ‘Reportable salary’ includes the following:
  3. gross payments (less any bonuses paid, which are separated out and disclosed in the ‘bonus paid’ column)
  4. reportable fringe benefits (at the net amount prior to ‘grossing up’ to account for tax benefits)
  5. exempt foreign employment income
  6. salary sacrificed benefits. (Various salary sacrifice arrangements were available to senior executives including superannuation, motor vehicle and expense payment fringe benefits.)
  7. The ‘contributed superannuation’ amount is the average actual superannuation contributions paid to senior executives in that reportable remuneration band during the reporting period, including any salary sacrificed amounts, as per the individuals’ payslips.
  8. ‘Reportable allowances’ are the average annual allowances paid as per the ‘total allowances’ line on individuals’ payment summaries.
  9. ‘Bonus paid’ represents average actual bonuses paid during the reporting period in that reportable remuneration band. From 2010–11 onwards no bonuses have been paid.

Note 11C: Other Highly Paid Staff

Average annual reportable remuneration paid to other highly paid staff in 2013
Average annual reportable remuneration1 Senior Executives No Reportable salary
2$
Contributed superannuation
3$
Reportable allowances
4$
Bonus paid5
$
Total
$
Total remuneration (including part-time arrangements):            
$180 000 to $209 999 1 174 353 18 381 192 734
Total 1          
Average annual reportable remuneration paid to other highly paid staff in 2012
Average annual reportable remuneration1 Senior Executives No Reportable salary2
$
Contributed superannuation3
$
Reportable allowances4
$
Bonus paid5
$
Total
$
Total remuneration (including part-time arrangements):            
$180 000 to $209 999
Total          
  1. This table reports staff:
  2. who were employed by the entity during the reporting period
  3. whose reportable remuneration was $180 000 or more for the reporting period
  4. were not required to be disclosed in Table B or director disclosures.

Each row is an averaged figure based on headcount for individuals in the band.

  1. ‘Reportable salary’ includes the following:
  2. gross payments (less any bonuses paid, which are separated out and disclosed in the ‘bonus paid’ column)
  3. reportable fringe benefits (at the net amount prior to ‘grossing up’ for tax purposes)
  4. exempt foreign employment income
  5. salary sacrificed benefits.
  6. The ‘contributed superannuation’ amount is the average cost to the entity for the provision of superannuation benefits to other highly paid staff in that reportable remuneration band during the reporting period.
  7. ‘Reportable allowances’ are the average actual allowances paid as per the ‘total allowances’ line on individuals’ payment summaries.
  8. ‘Bonus paid’ represents average actual bonuses paid during the reporting period in that reportable remuneration band. From 2010–11 onwards no bonuses have been paid.

Note 12: Remuneration of Auditors

Remuneration of Auditors
  2013
$’000
2012
$’000
Financial statement audit services were provided free of charge to the AEC by the Australian National Audit Office (ANAO).    
Fair value of the services provided    
Financial statement audit services 84 82
Total 84 82

No other services were provided by the Auditor-General.

Note 13: Financial Instruments

Financial Instruments
  2013
$’000
2012
$’000
Note 13A: Categories of Financial Instruments    
Financial Assets    
Cash and cash equivalents 1 689 1 535
Loans and receivables:    
Receivables for goods and services 2 439 4 843
Carrying amount of financial assets 4 128 6 378
Financial Liabilities    
At amortised cost:    
Trade Creditors 5 728 8 436
Carrying amount of financial liabilities 5 728 8 436
Note 13B: Net Income and Expense from Financial Assets    
Loans and receivables    
Impairment (1)
Net gain/(loss) from loans and receivables (1)

The net expense from financial assets not at fair value from profit and loss is nil (2012: $996).

Note 13C: Fair Value of Financial Instruments

The carrying amount of financial instruments does not differ from the fair value.

Note 13D: Credit Risk

The AEC’s maximum exposure to credit risk at reporting date in relation to each class of recognised financial assets is the carrying amount of those assets as indicated in the Balance Sheet.

The AEC has no significant exposures to any concentration of credit risk.

The following table illustrates the AEC’s gross exposure to credit risk, excluding any collateral or credit enhancements.

Gross exposure to credit risk
  2013
$’000
2012
$’000
Financial assets    
Cash and cash equivalents 1 689 1 535
Receivables for goods and services 1 554 843
Other receivables – related and external parties 885 4 000
Total 4 128 6 378
Ageing of financial assets that were past due but not impaired for 2013
  0 to 30 days
$’000
31 to 60 days
$’000
61 to 90 day
$’000
90+ days
$’000
Total
$’000
Receivables for goods and services 41 14 5 60
Total 41 14 5 60
Ageing of financial assets that were past due but not impaired for 2012
  0 to 30 days
$’000
31 to 60 days
$’000
61 to 90 day
$’000
90+ days
$’000
Total
$’000
Receivables for goods and services 35 2 1 38
Total 35 2 1 38

Note 13E: Liquidity Risk

The AEC’s financial liabilities are payables. The exposure to liquidity risk is based on the notion that the AEC will encounter difficulty in meeting its obligations associated with financial liabilities. This is highly unlikely due to appropriation funding and mechanisms available to the AEC and internal policies and procedures put in place to ensure there are appropriate resources to meet its financial obligations.

Maturities for non-derivative financial liabilities 2013
  Within 1 year
$’000
Total
$’000 
Trade Creditors 5 728 5 728
Total 5 728 5 728
Maturities for non-derivative financial liabilities 2012
  Within 1 year
$’000
Total
$’000
Trade Creditors 8 436 8 436
Total 8 436 8 436

The AEC had no derivative financial liabilities in either 2013 or 2012.

Note 13F: Market Risk

The AEC holds basic financial instruments that do not expose the AEC to certain market risks. The AEC is not exposed to ‘Currency risk’ or ‘Other price risk’.

Note 14: Financial Assets Reconciliation

Financial Assets Reconciliation
  Notes 2013
$’000
2012
$’000
Financial assets      
Total financial assets as per balance sheet   23 006 23 901
Less: non-financial instrument components      
Appropriations receivable 5B (18 562) (16 911)
Other receivables 5B (316) (612)
Total non-financial instrument components   (18 878) (17 523)
Total financial assets as per financial instruments note 13A 4 128 6 378

Note 15: Administered – Expenses

Administered – Expenses
  2013
$’000
2012
$’000
Note 15A: Other Expenses    
Refunds – electoral fines/penalties 1
Election public funding
Total grants 1

Note 16: Administered – Income

Administered – Income
  2013
$’000
2012
$’000
Own-source revenue    
Non-Taxation Revenue    
Note 16A: Fees and Fines    
Electoral fines/penalties 10 28
Candidate deposits 19 3
Other 3 10
Total fees and fines 32 41

Note 17: Administered – Assets and Liabilities

There are no administered assets or liabilities for the AEC.

Note 18: Administered – Cash Flow Reconciliation

Cash Flow Reconciliation
  2013
$’000
2012
$’000
Reconciliation of cash and cash equivalents as per Administered Schedule of Assets and Liabilities to Administered Cash Flow Statement    
Cash and cash equivalents as per:    
Schedule of administered cash flows
Schedule of administered assets and liabilities
Difference
Reconciliation of net cost of services to net cash from operating activities:    
Net contribution of services 31 41
Adjustments for non-cash items
Changes in assets/liabilities
Net cash from operating activities 31 41

Note 19: Administered – Contingent Assets and Liabilities

There are no administered contingencies, remote or quantifiable, for the AEC.

Note 20: Administered – Financial Instruments

There are no administered financial instruments for the AEC.

Note 21: Appropriations

The AEC received advice from the Department of Finance and Deregulation on 8 July 2013 that indicated there could be breaches of Section 83 under certain circumstances with payments for long service leave, goods and services tax and payments under determinations of the Remuneration Tribunal. AEC will review its processes and controls over payments for these items to minimise the possibility for future breaches as a result of these payments. The AEC is not aware of any specific breaches of Section 83 in respect of these items.

Table A: Annual Appropriations 2013 (‘Recoverable GST exclusive’)
  2013 Appropriations Appropriation applied in 2013 (current and prior years) Variance
$’000
Appropriation Act FMA Act Total appropriation
$’000
Annual Appropriation3
$’000
Appropriations reduced1
$’000
AFM2
$’000
Section 30
$’000
Section 31
$’000
Section 32
$’000
Departmental                  
Ordinary annual services 112 091 21 997 134 088 133 305 783
Other services                  
Equity 270 270 3 197 (2 927)
Total departmental 112 361 21 997 134 358 136 502 (2 144)
  1. Appropriations reduced under Appropriation Acts (Nos.1, 3, 5) 2012–13: sections 10, 11, 12 and 15 and under Appropriation Acts (Nos.2, 4, 6) 2012–13: sections 12, 13, 14 and 17. Departmental appropriations do not lapse at financial year-end. However, the responsible Minister may decide that part or all of a departmental appropriation is not required and request that the Finance Minister reduce that appropriation. The reduction in the appropriation is effected by the Finance Minister’s determination and is disallowable by Parliament.
  2. Advance to the Finance Minister (AFM) – Appropriation Acts (Nos.1, 3, 5) 2012–13: section 13 and Appropriation Acts (Nos.2, 4, 6) 2012–13: section 15.
  3. AEC has recognised in the 2012–13 financial year supplementation appropriation of $3.795m that will be appropriated in the 2013–14 financial year. This amount is not reflected in the above table.
Table A: Annual Appropriations 2012 (‘Recoverable GST exclusive’)
  2012 Appropriations Appropriation applied in 2012 (current and prior years) Variance
$’000
Appropriation Act FMA Act Total appropriation
$’000
Annual Appropriation
$’000
Appropriations reduced1
$’000
AFM2
$’000
Section 30
$’000
Section 31
$’000
Section 32
$’000
Departmental                  
Ordinary annual services 104 417 19 749 124 166 117 107 7 059
Other services                  
Equity 370 370 1 778 (1 408)
Total departmental 104 787 19 749 124 536 118 885 5 651
  1. Appropriations reduced under Appropriation Acts (Nos.1&3) 2011–12: sections 10, 11, 12 and 15 and under Appropriation Acts (Nos.2&4) 2011–12: sections 12 13, 14 and 17. Departmental appropriations do not lapse at financial year-end. However, the responsible Minister may decide that part or all of a departmental appropriation is not required and request that the Finance Minister reduce that appropriation. The reduction in the appropriation is effected by the Finance Minister’s determination and is disallowable by Parliament.
  2. Advance to the Finance Minister (AFM) – Appropriation Acts (Nos.1 3&5) 2011–12: section 13 and Appropriation Acts (Nos. 2&4) 2011–12: section 15.
Table B: Departmental Capital Budgets 2013 (‘Recoverable GST exclusive’)

 

2013 Capital Budget Appropriations

Capital Budget Appropriations applied in 2013 (current and prior years)

Variance
$’000

Appropriation Act FMA Act Total Capital Budget Appropriations
$’000
Payments for non-financial assets3
$’000
Payments for other purposes
$’000
Total payments
$’000
Annual Capital Budget
$’000
Appropriations reduced2
$’000
Section 32
$’000
Departmental                
Ordinary annual services – Departmental Capital Budget1 10 629 10 629 (8 797) (8 797) 1 832
  1. Departmental Capital Budgets are appropriated through Appropriation Acts (No.1, 3, 5). They form part of ordinary annual services, and are not separately identified in the Appropriations Acts. For more information on ordinary annual services appropriations, please see Table A: Annual appropriations.
  2. Appropriations reduced under Appropriation Acts (No.1, 3, 5) 2012–13: sections 10, 11, 12 and 15 or via a determination by the Finance Minister.
  3. Payments made on non-financial assets include purchases of assets, expenditure on assets which has been capitalised, costs incurred to make good an asset to its original condition, and the capital repayment component of finance leases.
Table B: Departmental Capital Budgets 2012 (‘Recoverable GST exclusive’)
  2012 Capital Budget Appropriations Capital Budget Appropriations applied in 2012 (current and prior years) Variance
$’000
Appropriation Act FMA Act Total Capital Budget Appropriations
$’000
Payments for non-financial assets3
$’000
Payments for other purposes
$’000
Total payments
$’000
Annual Capital Budget
$’000
Appropriations reduced2
$’000
Section 32
$’000
Departmental                
Ordinary annual services – Departmental Capital Budget1 7 217 7 217 (6 020) (6 020) 1 197
  1. Departmental Capital Budgets are appropriated through Appropriation Acts (No.1, 3, 5). They form part of ordinary annual services, and are not separately identified in the Appropriations Acts. For more information on ordinary annual services appropriations, please see Table A: Annual appropriations.
  2. Appropriations reduced under Appropriation Acts (No.1, 3, 5) 2011–12: sections 10, 11, 12 and 15 or via a determination by the Finance Minister.
  3. Payments made on non-financial assets include purchases of assets, expenditure on assets which has been capitalised, costs incurred to make good an asset to its original condition, and the capital repayment component of finance leases.
Table C: Unspent Annual Appropriations (‘Recoverable GST exclusive’)
Authority 2013
$’000
2012
$’000
Departmental    
Appropriation Act 1 – 2012–132 5 316
Appropriation Act 1 – 2012–13 – Cash 1 689
Appropriation Act 1 – 2012–13 – Departmental Capital Budget 4 922
Appropriation Act 1 – 2011–12 5 862
Appropriation Act 1 – 2011–12 – Cash 1 535
Appropriation Act 1 – 2011–12 – Departmental Capital Budget 1 197
Appropriation Act 1 – 2010–11 2 875 2 875
Appropriation Act 1 – 2010–11 – Departmental Capital Budget 1 893
Appropriation Act 3 – 2009–10 503
Appropriation Act 2 – Equity Injection – 2012–13 270
Appropriation Act 2 – Equity Injection – 2011–12 370 370
Appropriation Act 2 – Equity Injection – 2010–11 614 1 655
Appropriation Act 2 – Equity Injection – 2009–101 400 1 917
Appropriation Act 2 – Equity Injection – 2008–09 639
Total 16 456 18 446
  1. In accordance with the Statute Stocktake (Appropriations) Act 2013 as stated in Note 2, all unspent amounts provided under Appropriation Act (No. 2) 2009–10 will be repealed in 2014.
  2. Appropriation Act (No. 1) 2012–13 balance does not include the 2012–13 financial year supplementary appropriation of $3.795 million that will be appropriated in Appropriation Act (No. 1) 2013–14.
Table D: Special Appropriations (‘Recoverable GST exclusive’)
Authority Type Purpose Appropriation applied
2013
$’000
2012
$’000
Commonwealth Electoral Act 1918 (Administered) Unlimited Amount Election Public Funding
Financial Management and Accountability Act 1997 – s.28 Refund of Receipts Refund Refund of Non Voter Fines 3
Commonwealth Electoral Act 1918 (Departmental) Unlimited Amount Electoral Roll Review 9 000 9 000
Total     9 000 9 003

Note 22: Special Accounts

Note 22A: Special Accounts (Recoverable GST exclusive)

The AEC has become aware that there is an increased risk of non-compliance with Section 83 of the Constitution where payments are made from special appropriations and special accounts in circumstances where the payments do not accord with conditions included in the relevant legislation.

The AEC has an account for Services for Other Entities and Trust Moneys (SOETM) Special Account. This account had no movement in 2013 (2012: no movement).

Appropriation: Financial Management and Accountability Act 1997; section 21.

Establishing Instrument: Financial Management and Accountability Act 1997; section 20.

Purpose: for the expenditure of monies temporarily held in trust or otherwise for the benefit of a person other than the Commonwealth, for example, candidate deposits.

Note 23: Compensation and Debt Relief

Compensation and Debt Relief
  2013
$
2012
$
Compensation and Debt Relief – Departmental    
No ‘Act of Grace payments’ were expended during the reporting period (2012: No expenses).
No waivers of amounts owing to the Australian Government were made pursuant to subsection 34(1) of the Financial Management and Accountability Act 1997 (2012: No waivers).
No payments were provided under the Compensation for Detriment caused by Defective Administration (CDDA) Scheme during the reporting period (2012: No payments).
No ex-gratia payments were provided for during the reporting period (2012: No payments).
No payment was made under Paragraph 3 of Appendix C (Handling Monetary Claims) of the Legal Services Direction 2005, issued under section 55ZF of the Judiciary Act 1903 during the reporting period (2012: $15 000). 15 000
1 payment was made under section 73 (1) of the Public Service Act 1999 as a payment in special circumstances. (2012: No payments). 6 672
Compensation and Debt Relief – Administered    
No payments were made during the reporting period (2012: nil).    

Note 24: Assets Held in Trust

Monetary assets

Financial assets held in trust are also disclosed in Note 22: Services for Other Entities and Trust Moneys (SOETM) Special Account. There was no opening balance, movements during the year or balance at year-end in the account (2012: Nil).

Note 25: Reporting of Outcomes

In determining the full cost of outputs, the AEC charges direct costs to programs and allocates overheads between programs on the basis of full time equivalent staff.

The AEC’s resourcing consumption varies considerably from year to year and between programs depending on the phase of the electoral cycle.

Note 25A: Net Cost of Outcome Delivery
  Program 1 Program 2 Program 3 Total Outcome 1
2013
$’000
2012
$’000
2013
$’000
2012
$’000
2013
$’000
2012
$’000
2013
$’000
2012
$’000
Departmental                
Expenses 60 458 61 021 55 424 53 516 19 236 18 376 135 118 132 913
Own-source income (12 321) (11 518) (6 382) (6 046) (152) 2 (18 855) (17 562)
Administered                
Expenses
Own-source income (32) (41) (32) (41)
Net cost of outcome delivery 48 137 49 503 49 010 47 429 19 084 18 378 116 231 115 310

Outcome 1 is described in Note 1.1

The net costs shown above include intra-government costs.

Note 25B: Major Classes of Departmental Expenses, Income, Assets, and Liabilities by Outcome

The AEC has one outcome so these figures appear in the Statement of Comprehensive Income and Balance Sheet.

Note 25C: Major Classes of Administered Expenses, Income, Assets, and Liabilities by Outcome

The AEC has one outcome so these figures appear in Note 15: Administered Expenses, Note 16: Administered Income and Note 17: Administered – Assets and Liabilities.

Note 26: Net Cash Appropriation Arrangements

Net Cash Appropriation Arrangements
  2013
$’000
2012
$’000
Total comprehensive income (loss) less depreciation/amortisation expenses previously funded through revenue appropriations1 6 269 (2 917)
Plus: depreciation/amortisation expenses previously funded through revenue appropriation (8 404) (6 234)
Total comprehensive loss – as per the Statement of Comprehensive Income (2 135) (9 151)
  1. From 2010–11, the Government introduced net cash appropriation arrangements, where revenue appropriations for depreciation/amortisation expenses ceased. Entities now receive a separate capital budget provided through equity appropriations. Capital budgets are to be appropriated in the period when cash payments for capital expenditure are required.
A+
A
View plain text
TOP