2. Departmental (controlled) outputs A description of departmental outputs performed during the year ended 30 June 2015, and the objectives of these outputs, are summarised below. AASB 1052.15(a), (b) Strategic policy advice Description of output Provision of policy advice to the Government on the development, promotion, and support of information and biological technology in the public and private sectors. Objectives Improved economic performance of the State through the application of leading edge technology and to promote leadership in scientific research and innovation. Contribution to [Sustainable Thriving Victoria] Government outcomes: more quality jobs and thriving innovative industries across Victoria; and growing and linking all of Victoria. Information technology and telecommunication services Description of output Provision of payroll, accounting and database management bureau service to a range of agencies in the Victorian public sector. Services also include information technology training and auditing of telephone usage. The Information Technology and Telecommunications (IT&T) division of the Department provides services on the application and use of IT&T to other governments in Australia and around the world on a fee for service basis. Objectives Efficient and economical operation of government activities to ensure optimal use of resources. Leadership in IT&T promotes Victoria as a centre for excellence in the application of new information technology and has the potential to contribute to the economic growth of the State. Contribution to [Sustainable Thriving Victoria] Government outcomes: more quality jobs and thriving innovative industries across Victoria; and sound financial management. AASB 1052.15(a), (b) Research and development of biological technology Description of output A number of units within the Department conduct research and development of new biological technology for application in industry, particularly in the agricultural and health sectors. Commercial development of this new technology is primarily undertaken by Gene Sciences Victoria, a business unit of the Department. Objectives Improvements to the quality of life of Victorians through eradicating certain diseases and enhancing nutrition as a result of better quality agricultural products. Improved agricultural products are also considered to contribute to the economic growth of the State. Note 2. Departmental (controlled) outputs (continued) Contribution to [Sustainable Thriving Victoria] Government outcomes: protecting the environment for future generations; and more quality jobs and thriving innovative industries across Victoria.
the case, each component of the system should be accounted for as a separate component and in accordance with FRD 109. Note 21. Other nonfinancial assets AASB 101.61 AASB 101.61 ($ thousand) 2015 2014 Current other assets Prepayments 1 483 380 Total current other assets 1 483 380 Noncurrent other assets Other .. .. Total noncurrent other assets .. .. Total other assets 1 483 380 Commentary – Other nonfinancial assets The assets above should only include assets that are nonfinancial in nature. Note 22. Payables AASB 101.61 AASB 101.61 ($ thousand) 2015 2014 Current payables Contractual Supplies and services (i) 4 466 5 330 Amounts payable to government and agencies (ii) 8 048 6 360 Other payables (i) 1 900 2 394 14 413 14 085 Statutory (iii) FBT payable 82 169 GST payable 109 225 Other taxes payable 82 169 273 562 Total current payables 14 686 14 647 Noncurrent payables Contractual Amounts payable to government and agencies (ii) 2 843 1 514 Other payables (i) 62 543 2 905 2 057 Total noncurrent payables 2 905 2 057 Total payables 17 591 16 704 AASB 7.7, 7.31 Notes: (i) The average credit period is 30 days. No interest is charged on the other payables for the first 30 days from the date of the invoice. Thereafter, interest is charged at 2 per cent per year on the outstanding balance. AASB 7.7, 7.31 (ii) Terms and conditions of amounts payable to other government agencies vary according to a particular agreement with that agency. [The agreement in place in this case is not legislative, but contractual and therefore this payable is a financial instrument.] (iii) [Where amount of taxes payable is material, entities should present statutory ‘taxes payable’ in the note broken down by classes of taxes, i.e. GST payable, FBT payable, income tax payable, and other taxes payable, as appropriate.]
FMA.s29 The following is a listing of the Financial Management Act 1994 Section 29 annotated income agreements approved by the Treasurer: ($ thousand) Actual 2015 2014 User charges, or sales of goods and services [Name/title of agreement] .. .. [Name/title of agreement] .. .. .. .. Asset sales [Name/title of agreement] .. .. .. .. Commonwealth Specific Purpose Payments [Name/title of agreement] .. .. [Name/title of agreement] .. .. .. .. Municipal [Name/title of agreement] .. .. [Name/title of agreement] .. .. .. .. Total annotated income agreements .. .. Note 39. Trust account balances AASB 107.38 Table based on AuditorGeneral’s recommendation in report Portfolio Departments and Associated Entities: Results of the 201213 Audits (a) Trust account balances relating to trust accounts controlled and/or by the ($ thousand) 2015 Opening balance as at 1 July 2014 Total receipts Total payments Closing balance as at 30 June 2015 Cash and cash equivalents and investments Controlled trusts [Title of Trust 1] [include legislative reference and nature and purpose for which Trust 1 was created.] .. .. .. .. [Title of Trust 2] [include legislative reference and nature and purpose for which Trust 2 was created.] .. .. .. .. Total controlled trusts .. .. .. .. Administered trusts [Title of Trust 3] [include legislative reference and nature and purpose for which Trust 3 was created.] .. .. .. .. [Title of Trust 4] [include legislative reference and nature and purpose for which Trust 4 was created.] .. .. .. .. Total administered trusts .. .. .. ..