PSR Annual Report 2007-08

• Contents
• Letter of Transmittal
• Director’s report
• Agency overview
• Report on performance
• Case descriptions
• Legal cases
• Management and accountability
• Appendix 1 - Financial Statements
  • Auditor's Report
  • Statment by the Director
  • Income Statement
  • Balance Sheet
  • Statement Of Changes In Equity
  • Cash Flow Statement
  • Schedule of Commitments
  • Schedule of Contingencies
  • Note 1: Summary of Significant Accounting Policies
    • 1.1 Objectives of Professional Services Review
    • 1.2 Basis of Preparation of the Financial Report
    • 1.3 Significant Accounting Judgements and Estimates
    • 1.4 Statement of Compliance
    • Other
    • 1.5 Revenue
    • 1.6 Gains
    • 1.7 Transactions with the Government as Owner
    • 1.8 Employee Benefits
    • 1.9 Leases
    • 1.10 Cash
    • 1.11 Financial assets
    • 1.12 Financial Liabilities
    • 1.13 Contingent Liabilities and Contingent Assets
    • 1.14 Acquisition of Assets
    • 1.15 Property, Plant and Equipment
    • 1.16 Intangibles
    • 1.17 Taxation
  • Note 2: Events after the Balance Sheet Date
  • Note 3: Income
  • Note 4: Expenses
  • Note 5: Financial Assets
  • Note 6: Non-Financial Assets
  • Note 7: Payables
  • Note 8: Provisions
  • Note 9: Cash Flow Reconciliation
  • Note 10: Contingent Liabilities and Assets
  • Note 11: Senior Executive Remuneration
  • Note 12: Remuneration of Auditors
  • Note 13: Financial Instruments
  • Note 14: Appropriations
  • Note 15: Reporting of Outcomes
• Appendix 2 - Freedom of information statement
• Glossary
• MBS items
• Compliance index

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Appendix 1 - Financial Statements

Note 1: Summary of Significant Accounting Policies

1.7 Transactions with the Government as Owner

Other distributions to owners

The FMOs require that distributions to owners be debited to contributed equity unless in the nature of a dividend. On 24 June 2008, the Finance Minister determined a reduction in departmental appropriations following a request by PSR through the Minister for Health and Ageing. The amount determined under subsection 10 (2) of Appropriation Act (No. 3) 2003-2004, subsection 9 (1) of Appropriation Act (No. 1) 2006-2007 and of Appropriation Act (No. 1) 2007-2008 was to reduce the determinations under the PSR’s departmental items of $2,500,000 for 2001-02, $2,000,000 for 2002-03, $500,000 for 2003-04, $4,493,000 for 2006-07 and $1,120,000 for 2007-08. Total for this financial year is $1,120,000 and total for prior years is $9,493,000.

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