Go to top of page

Administered reconciliation schedule

  Notes 2017
$’000
2016
$’000
Opening assets less liabilities as at 1 July   - -
Net cost of services
Expenses
Payments to entities other than corporate Commonwealth entities   (63,215) (60,190)
Transfers from the Australian Government
Appropriation transfers from Official Public Account
Special appropriations (unlimited)
Payments to entities other than corporate Commonwealth entities 4.1c 63,215 60,190
Closing assets less liabilities as at 30 June   - -

Accounting policy

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.