Appendixes
Appendix 1: Financial statements
Note 6–Financial Assets
Note 6A–Cash
| 2004–2005 $ | 2003–2004 $ | |
|---|---|---|
| Departmental (other than special accounts)* | 1,216,697 | 5,710,818 |
| Total Cash | 1,216,697 | 5,710,818 |
* During 2003-2004 an amount of $1,606 remained in a clearing account as at 30 June 2004. An erronous journal was posted overstating suppliers expenses and GST receivable by $1,460 and $146 respectively and cash was understated by $1,606. Consequently, the comparative figures for cash, GST receivables and supplier expenses have been adjusted to reflect the correct balances.
Note 6B–Receivables
| 2004–2005 $ | 2003–2004 $ | |
|---|---|---|
| Goods and services | - | 8,492 |
| Less: Provision for doubtful debts | - | - |
| - | 8,492 | |
| GST receivable from the Australian Taxation Office * | 198,462 | 151,645 |
| Appropriations receivable: | ||
| - for additional outputs | - | - |
| - undrawn | 5,045,000 | - |
| Total Receivables (Net) | 5,243,462 | 160,137 |
| Receivables is represented by: | ||
| Current | 5,243,462 | 160,137 |
| Non-current | - | - |
| Total Receivables (Net) | 5,243,462 | 160,137 |
| All receivables are with entities external to the Commonwealth. Credit terms are net 30 days (2004: 30 days). | ||
| Receivables (gross) are aged as follows: | ||
| Current | 5,243,462 | 160,137 |
| Overdue by: | - | - |
| Less than 30 days | - | - |
| 30 to 60 days | - | - |
| 61 to 90 days | - | - |
| More than 90 days | - | - |
| Total receivables (gross) | 5,243,462 | 160,137 |
| The provision for doubtful debts is aged as follows: | ||
| Current | - | - |
| Overdue by: | - | - |
| Less than 30 days | - | - |
| 30 to 60 days | - | - |
| 61 to 90 days | - | - |
| More than 90 days | - | - |
| Total provision for doubtful debts | - | - |
* During 2003-2004 an amount of $1,606 remained in a clearing account as at 30 June 2004. An erronous journal was posted overstating suppliers expenses and GST receivable by $1,460 and $146 respectively and cash was understated by $1,606. Consequently, the comparative figures for cash, GST receivables and supplier expenses have been adjusted to reflect the correct balances.