Go to top of page

Note 9: Provisions

  2012 $’000 2011 $’000

The APSC currently has 4 (2011: 5) agreements for the leasing of premises which have provisions requiring the APSC to restore the premises to their original condition at the conclusion of the lease. The APSC has made a provision to reflect the present value of this obligation.

On 30 June 2011 an independent valuer conducted a revaluation of restoration obligations. The provision decreased by $15,000. An increment of $15,000 was credited to the asset revaluation surplus as this reversed previous decrements to the revaluation surplus for the relevant asset class. This increment to the asset revaluation surplus was included in the equity section of the balance sheet

Note 9a: Employee provisions
Leave 6,354 5,634
Superannuation 506 505
Total employee provisions 6,860 6,139
Employee provisions are expected to be settled in:
No more than 12 months 2,860 2,348
More than 12 months 4,000 3,791
Total employee provisions 6,860 6,139
Note 9b: Provision for restoration obligations
Carrying amount 1 July 458 332
Additional provisions made 6 185
Amounts used (26) -
Amounts reversed - (80)
Unwinding of discount or change in discount rate 22 21
Closing balance 30 June 460 458
Provision for restoration obligations are expected to be settled in:
No more than 12 months 38 26
More than 12 months 422 432
Total provision for restoration obligations 460 458
Last reviewed: 
11 May 2018