Total $11,120,000 $11,674,000 Employment on-cost provision list header [Accessibility note: The following is a referenced in Provisions Carrying amount at start of year $6,050,000 $4,926,000 table under Long service leave (b). Long service leave liabilities have Additional provisions recognised -$70,000 $1,118,000 been classified as current where there is no unconditional right to Payments/other sacrifices of -$7,000 $6,000 defer settlement for at least 12 months after balance sheet date. economic benefits Assessments indicate that actual settlement of the liabilities will Carrying amount at end of year $5,973,000 $6,050,000 occur as follows:] Return to of notes Settlement 2010 (in 2009 (in 30. Equity dollars) dollars) Equity represents the residual interest in the net assets of the Within 12 months of balance sheet $8,976,000 $10,232,000 department. The Government holds the equity interest in the date department on behalf of the community. The asset revaluation More than 12 months after balance $12,879,000 $12,531,000 reserve represents that portion of equity resulting from the sheet date revaluation of non-current assets. Total $21,855,000 $22,763,000 Equity item 30 June 30 June 1 July 2008 [Accessibility note: The following is a table referenced in Provisions 2010 (in 2009 (in (in dollars) table under Employment on-costs (c). The settlement of annual and dollars) dollars) long service leave liabilities gives rise to the payment of employment Contributed on-costs including workers’ compensation insurance. The provision equity list header is the present value of expected future payments. See also note 12 Balance at the $25,586,000 $23,009,000 $16,304,000 expenses’.] ‘Other start of the year Provision 2010 (in 2009 (in Contribution by dollars) dollars) owners list header Capital $4,058,000 $2,577,000 $560,000 Movements in provisions section contributions header Movements in each class of Transfer of $0 $0 $6,145,000 provisions during the financial year, assets from the other than employee benefits, are Agriculture set out below. Protection Board List header
Total $11,120,000 $11,674,000 [Accessibility note: The following is a referenced in Provisions table under Long service leave (b). Long service leave liabilities have been classified as current where there is no unconditional right to defer settlement for at least 12 months after balance sheet date. Assessments indicate that actual settlement of the liabilities will occur as follows:] Settlement 2010 (in dollars) 2009 (in dollars) Within 12 months of balance sheet date $8,976,000 $10,232,000 More than 12 months after balance sheet date $12,879,000 $12,531,000 Total $21,855,000 $22,763,000 [Accessibility note: The following is a table referenced in Provisions table under Employment on-costs (c). The settlement of annual and long service leave liabilities gives rise to the payment of employment on-costs including workers’ compensation insurance. The provision is the present value of expected future payments. See also note 12 ‘Other expenses’.] Provision 2010 (in dollars) 2009 (in dollars) Movements in provisions section header Movements in each class of provisions during the financial year, other than employee benefits, are set out below. List header Employment on-cost provision list header Carrying amount at start of year $6,050,000 $4,926,000 Additional provisions recognised -$70,000 $1,118,000 Payments/other sacrifices of economic benefits -$7,000 $6,000 Carrying amount at end of year $5,973,000 $6,050,000 Return to of notes 30. Equity Equity represents the residual interest in the net assets of the department. The Government holds the equity interest in the department on behalf of the community. The asset revaluation reserve represents that portion of equity resulting from the revaluation of non-current assets. Equity item 30 June 2010 (in dollars) 30 June 2009 (in dollars) 1 July 2008 (in dollars) Contributed equity list header Balance at the start of the year $25,586,000 $23,009,000 $16,304,000 Contribution by owners list header Capital contributions $4,058,000 $2,577,000 $560,000 Transfer of assets from the Agriculture Protection Board $0 $0 $6,145,000
Department%20of%20Agriculture%20and%20Food%20Annual%20report%202010%20-%20Word.docx