1 Commissions and fees are charged against estates pursuant to Sections 44 and 45 of the Public and Acts. Trustee Act 1995 2 A management fee is charged against common funds at the rate of one-twelfth of one percent of the value of each fund as at the first business day of the month. 2014 2013 $’000 $’000 Interest on operating and reserve accounts 53 61 Interest on fixed term investments 720 926 Total interest 773 987 Other income 2014 2013 $’000 $’000 Recoupment of salaries and oncosts 2 73 Sundry income 23 25 Distributions from trusts 359 302 Total other income 384 400 Expenditure Superannuation During 2013-14 Public Trustee paid an amount of $1.3 million ($1.3 million) to the Department of Treasury and Finance towards the accruing Government liability for superannuation in respect of its employees. Public Trustee Corporate Financial Statements NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS Remuneration of employees The number of employees whose remuneration received or receivable fell within the following bands:- 2014 2013 Number of Number of Employees Employees $141 500 - $151 4991 1 - $231 500 - $241 499 1 2 $241 500 - $251 499 1 - $281 500 - $291 499 1 1 3 4 1One officer received payments for accrued long service in lieu of leave. The table includes all employees who received remuneration equal to or greater than the base executive remuneration level during the year. Remuneration of employees reflects all costs of employment including salaries and wages, payments in lieu of leave, superannuation contributions, fringe benefits tax and any other salary sacrifice benefits. Total remuneration received or due and receivable by these employees was $924 000 ($751 000). Targeted voluntary separation packages Public Trustee provided for no during 2013-14 or the previous year. Remuneration of board and committee members Members that were entitled to receive remuneration for membership during the 2013-14 financial year were: Public Trustee Audit and Risk Management Committee Mr Peter Whelan (7 months) Ms Christine Locher (full year) Ms Virginia Hickey (5 months) The number of members whose remuneration received or receivable fell within the following bands:- 2014 2013
1 Commissions and fees are charged against estates pursuant to Sections 44 and 45 of the Public Trustee Act 1995 and Acts. 2 A management fee is charged against common funds at the rate of one-twelfth of one percent of the value of each fund as at the first business day of the month. 2014 2013 $’000 $’000 Interest on operating and reserve accounts 53 61 Interest on fixed term investments 720 926 Total interest 773 987 Other income 2014 2013 $’000 $’000 Recoupment of salaries and oncosts 2 73 Sundry income 23 25 Distributions from trusts 359 302 Total other income 384 400 Expenditure Superannuation During 2013-14 Public Trustee paid an amount of $1.3 million ($1.3 million) to the Department of Treasury and Finance towards the accruing Government liability for superannuation in respect of its employees. Public Trustee Corporate Financial Statements NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS Remuneration of employees The number of employees whose remuneration received or receivable fell within the following bands:- 2014 2013 Number of Employees Number of Employees $141 500 - $151 4991 1 - $231 500 - $241 499 1 2 $241 500 - $251 499 1 - $281 500 - $291 499 1 1 4 3 1One officer received payments for accrued long service in lieu of leave. The table includes all employees who received remuneration equal to or greater than the base executive remuneration level during the year. Remuneration of employees reflects all costs of employment including salaries and wages, payments in lieu of leave, superannuation contributions, fringe benefits tax and any other salary sacrifice benefits. Total remuneration received or due and receivable by these employees was $924 000 ($751 000). Targeted voluntary separation packages Public Trustee provided for no during 2013-14 or the previous year. Remuneration of board and committee members Members that were entitled to receive remuneration for membership during the 2013-14 financial year were: Public Trustee Audit and Risk Management Committee Mr Peter Whelan (7 months) Ms Christine Locher (full year) Ms Virginia Hickey (5 months) The number of members whose remuneration received or receivable fell within the following bands:- 2014 2013