and equipment Standards Fair amending standard for the current reporting period. – Value Disclosures of NotforProfit Public Sector Entities [New] Note 18 General A note has been included to emphasise that fair value 212 improvements information should be disclosed for the comparative Biological assets – period. [New] Note 19 General Additional illustrative disclosures have been included 215 improvements (Table 19.3) to emphasise that fair value information Investment – should be disclosed for the comparative period. properties [New] Note 31(b) General Footnotes and guidance have been added to clarify that: 241, 244 – Commitments for improvements the minimum lease payments of uncommissioned expenditure Public Private Partnerships includes government capital contribution; and the total commitments will not equal to the sum of the minimum lease payments and other commitments. [New] Note 40 General Information has been included regarding the related party 301302 – Responsible improvements transactions of ministers and the register of members’ persons interests, which is publicly available from: . This relates to the related party disclosures required by FRD 21B Disclosures of Responsible Persons, Executive Officers and Other Personnel (Contractors with Significant Management Responsibilities) in the Financial Report. [New] Note 44 General The definitions of and 309 – ‘administered item’ ‘controlled item’ Glossary of terms improvements have been included. and style conventions Summary of changes Appendices – Summary of changes applied to the relevant Page Subject matter Source of change sections in the Appendices reference [Revised] General update The financial statements for the Victorian general 317336 Appendix 1 government sector have been updated to the latest – versions. Extracts of whole of government financial statements and analysis of disclosures [Revised] General The table has been updated to reflect that movements in 337 Appendix 2 improvements the long service leave provision associated with a change – Practical in the bond rates or a change in the estimates applied will
and equipment Standards – Fair Value Disclosures of NotforProfit Public Sector Entities amending standard for the current reporting period. [New] Note 18 – Biological assets General improvements A note has been included to emphasise that fair value information should be disclosed for the comparative period. 212 [New] Note 19 – Investment properties General improvements Additional illustrative disclosures have been included (Table 19.3) to emphasise that fair value information should be disclosed for the comparative period. 215 [New] Note 31(b) – Commitments for expenditure General improvements Footnotes and guidance have been added to clarify that: the minimum lease payments of uncommissioned Public Private Partnerships includes government capital contribution; and the total commitments will not equal to the sum of the minimum lease payments and other commitments. 241, 244 [New] Note 40 – Responsible persons General improvements Information has been included regarding the related party transactions of ministers and the register of members’ interests, which is publicly available from: . This relates to the related party disclosures required by FRD 21B Disclosures of Responsible Persons, Executive Officers and Other Personnel (Contractors with Significant Management Responsibilities) in the Financial Report. 301302 [New] Note 44 – Glossary of terms and style conventions General improvements The definitions of ‘administered item’ and ‘controlled item’ have been included. 309 Summary of changes – Appendices Subject matter Source of change Summary of changes applied to the relevant sections in the Appendices Page reference [Revised] Appendix 1 – Extracts of whole of government financial statements and analysis of disclosures General update The financial statements for the Victorian general government sector have been updated to the latest versions. 317336 [Revised] Appendix 2 – Practical General improvements The table has been updated to reflect that movements in the long service leave provision associated with a change in the bond rates or a change in the estimates applied will 337
Summary%20of%20changes%20to%202015-16%20Model%20Report.docx