Maturity analysis of contractual payables Maturity dates(a) Carrying Nominal Less than 1–3 3 Greater than amount amount 1 month months 1 year 1–5 years 5 years 2017 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Payables 33 283 33 283 33 283 2016 Payables 31 981 31 981 31 981 Note: (a) The amounts disclosed are the contractual undiscounted cash flows. Nonfinancial assets classified as held for sale 2017 2016 $’000 $’000 Vehicles held for sale 21 93 Properties held for sale 4 555 8 893 Total nonfinancial assets classified as held for sale 4 576 8 986 Nonfinancial assets classified as held for sale comprise controlled by the Department, are reported by the relevant property and vehicles that the Department no longer agency and not by this Department. Reporting utilises and which it intends to dispose of within the next 12 responsibility for these assets remains with the relevant months. No impairment losses were recognised on agency until the total sale price is fully discharged. reclassification of the property as held for sale or at balance date. Unearned income Nonfinancial physical assets are classified as held for sale Unearned income relates mainly to accommodation rentals and treated as current assets if their carrying amount will on government owned buildings invoiced in advance to be recovered through a sale transaction rather than tenants. continuing use. This condition is regarded as met only when the asset is available for immediate use in the Advances for capital works current condition and the sale is highly probable and is received in advance for capital works managed on expected to be completed within one year from the date of behalf of other departments and agencies are recognised classification. Nonfinancial assets classified as held for as current liabilities until the associated capital expenditure sale are measured at the lower of carrying amount and fair is incurred. Advances for capital works are managed value less costs to sell, and are not subject to depreciation. through the Finance Agency Trust. Surplus land and buildings that fall within the Government’s asset sales program, and which are not
Maturity analysis of contractual payables Maturity dates(a) Carrying amount Nominal amount Less than 1 month 1–3 months 3 1 year 1–5 years Greater than 5 years 2017 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Payables 33 283 33 283 33 283 2016 Payables 31 981 31 981 31 981 Note: (a) The amounts disclosed are the contractual undiscounted cash flows. Nonfinancial assets classified as held for sale 2017 $’000 2016 $’000 Vehicles held for sale 21 93 Properties held for sale 4 555 8 893 Total nonfinancial assets classified as held for sale 4 576 8 986 Nonfinancial assets classified as held for sale comprise property and vehicles that the Department no longer utilises and which it intends to dispose of within the next 12 months. No impairment losses were recognised on reclassification of the property as held for sale or at balance date. Nonfinancial physical assets are classified as held for sale and treated as current assets if their carrying amount will be recovered through a sale transaction rather than continuing use. This condition is regarded as met only when the asset is available for immediate use in the current condition and the sale is highly probable and is expected to be completed within one year from the date of classification. Nonfinancial assets classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell, and are not subject to depreciation. Surplus land and buildings that fall within the Government’s asset sales program, and which are not controlled by the Department, are reported by the relevant agency and not by this Department. Reporting responsibility for these assets remains with the relevant agency until the total sale price is fully discharged. Unearned income Unearned income relates mainly to accommodation rentals on government owned buildings invoiced in advance to tenants. Advances for capital works received in advance for capital works managed on behalf of other departments and agencies are recognised as current liabilities until the associated capital expenditure is incurred. Advances for capital works are managed through the Finance Agency Trust.
DTF-Annual-Report-2016-17.docx