PSR Annual Report 2008-09

• Contents
• Letter of Transmittal
• Director’s Report
• 1. Agency overview
• 2. Report on performance
• 3. Case descriptions
• 4. Management and accountability
• Appendix 1 PSR’s resource statement and outcome summary, 2008–09
• Appendix 2 Financial statements
  • Independent Auditor’s Report
  • Statement by Director and Chief Finance Officer
  • 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
  • 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: Executive Remuneration
  • Note 12: Remuneration of Auditors
  • Note 13: Financial Instruments
  • Note 14: Appropriations
  • Note 15: Reporting of Outcomes
  • Note 16: Compensation and Debt Relief
• Appendix 3 Freedom of information statement
• Glossary and indexes

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Appendix 2 Financial statements

Note 8: Provisions

	2009	2,008
	$	$
Note 8A: Employee provisions
Leave	470,749	383,343
Other	6,610	2,555
Total employee provisions	477,359	385,898
Employee provisions are represented by:
Current	378,483	295,631
Non-current	98,876	90,267
Total employee provisions	477,359	385,898

The classification of current includes amounts for which there is not an unconditional right to defer settlement by one year, hence in the case of employee provisions the above classification does not represent the amount expected to be settled within one year of reporting date. Employee provisions expected to be settled in twelve months from the reporting date are $211,435 (2008: $247,414), and in excess of one year $265,924 (2008: $138,484).

	2009	2,008
	$	$
Note 8B: Other provisions
Restoration obligations	79,674	75,954
Lease provisions
Lease incentive	1,109	14,420
Straight lining of lease	1,915	23,881
Total lease provisions	3,024	38,301
Total other provisions	82,698	114,255

Other provisions are current.

	Makegood	Lease	Total
	provision	provision
	$	$	$
Carrying amount 1 July 2008	75,954	38,301	114,255
Additional provisions made	-	(35,277)	(35,277)
Change in discount rate	-	-	-
Unwinding of discount	3,720	-	3,720
Closing balance 2009	79,674	3,024	82,698

PSR currently has one agreement for the leasing of premises where it is possible that PSR may need to restore the premises to its original condition at the conclusion of the lease. PSR has made a provision to reflect the present value of this obligation in the event that it is required to restore the building to its original condition.

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