GOLD COAST 2018 COMMONWEALTH GAMES CORPORATION NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 4.4 Employee expenses 4.4.1 Employee benefits Accounting policies 2017 2016 Superannuation $’000 $’000 Employer superannuation contributions are paid to superannuation funds as nominated Wages and salaries 49,530 21,410 by GOLDOC employees. Contributions meet Board fees 228 182 or exceed the requirements of the Employer Superannuation Guarantee (Administration) superannuation 4,585 2,012 Act 1992 and are expensed in the period in contributions which they are paid or payable. GOLDOC’s Annual leave obligation is limited to its contribution to the 3,582 1,511 expenses superannuation funds. Long service leave 15 (6) expense QSuper (the superannuation scheme for Queensland Government employees) has Total 57,940 25,109 defined benefit and defined contribution categories. The liability for defined benefits is held on a whole-of-government basis and reported in those financial statements 4.4.2 Employee related expenses pursuant to AASB 1049 Whole of Government and General Government Sector Financial 2017 2016 Reporting. $’000 $’000 Disclosures Workers' Full-time equivalent employees compensation 212 104 premium The number of employees at 30 June, Payroll tax 2,491 1,143 including both full-time employees and Recruitment employees, measured on a full-time 13 24 expenses equivalent basis (reflecting Minimum Other 278 253 Obligatory Human Resource Information (MOHRI)). Total 2,994 1,524 As GOLDOC is a limited life statutory body Full-time with short term employees recruited equivalent progressively, the number of full-time 645 286 employees equivalent employees has also been reflected (MOHRI) as an average over the reporting period. Key Management Personnel Full-time equivalent 450 164 Key management personnel and employees remuneration disclosures are detailed in Note (averaged) .
GOLD COAST 2018 COMMONWEALTH GAMES CORPORATION NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 4.4 Employee expenses 4.4.1 Employee benefits 2017 2016 $’000 $’000 Wages and salaries 49,530 21,410 Board fees 228 182 Employer superannuation contributions 4,585 2,012 Annual leave expenses 3,582 1,511 Long service leave expense 15 (6) Total 57,940 25,109 4.4.2 Employee related expenses 2017 2016 $’000 $’000 Workers' compensation premium 212 104 Payroll tax 2,491 1,143 Recruitment expenses 13 24 Other 278 253 Total 2,994 1,524 Full-time equivalent employees (MOHRI) 645 286 Full-time equivalent employees (averaged) 450 164 Accounting policies Superannuation Employer superannuation contributions are paid to superannuation funds as nominated by GOLDOC employees. Contributions meet or exceed the requirements of the Superannuation Guarantee (Administration) Act 1992 and are expensed in the period in which they are paid or payable. GOLDOC’s obligation is limited to its contribution to the superannuation funds. QSuper (the superannuation scheme for Queensland Government employees) has defined benefit and defined contribution categories. The liability for defined benefits is held on a whole-of-government basis and reported in those financial statements pursuant to AASB 1049 Whole of Government and General Government Sector Financial Reporting. Disclosures Full-time equivalent employees The number of employees at 30 June, including both full-time employees and employees, measured on a full-time equivalent basis (reflecting Minimum Obligatory Human Resource Information (MOHRI)). As GOLDOC is a limited life statutory body with short term employees recruited progressively, the number of full-time equivalent employees has also been reflected as an average over the reporting period. Key Management Personnel Key management personnel and remuneration disclosures are detailed in Note .
GOLDOC%20Annual%20Report%202016-17%20incl%20Financial%20Statements_update%2017NOV2017.docx