|Opening assets less liabilities as at 1 July||-||-|
|Net cost of services|
|Payments to entities other than corporate Commonwealth entities||(60,190)||(61,338)|
|Transfers (to)/from the Australian Government|
|Appropriation transfers from Official Public Account|
|Payments to entities other than corporate Commonwealth entities||4.1c||60,190||61,338|
|Appropriation transfers to Official Public Account|
|Transfers to Official Public Account||-||(2)|
|Closing assets less liabilities as at 30 June||-||-|
Administered cash transfers to and from the Official Public Account
Revenue collected by the APSC for use by the Government rather than the APSC 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 APSC on behalf of the Government and reported as such in the schedule of administered cash flows and in the administered reconciliation schedule.
The above schedule should be read in conjunction with the accompanying notes.