Index

---

Financial Statements

DEPARTMENT OF PARLIAMENTARY SERVICES
INCOME STATEMENT
for the period ended 30 June 2009
		2009		2008
INCOME	Notes	$ 000		$ 000
Revenue
Revenue from Government	3A	116,913		116,249
Sale of goods and rendering of services	3B	4,649		4,753
Rental income	3C	1,252		1,210
Other revenue	3D	13		8
Total revenue		122,827		122,220
Gains
Reversals of previous asset write-downs	3E	1,068		-
Other gains	3F	171		180
Total gains		1,239		180
Total Income		124,066		122,400
EXPENSES
Employee benefits	4A	67,085		64,960
Suppliers	4B	40,769		40,150
Depreciation and amortisation	4C	14,899		12,324
Write-down and impairment of assets	4D	100		76
Losses from asset sales	4E	289		143
Total Expenses		123,142		117,653
Surplus attributable to the Australian Government		924		4,747
The above statement should be read in conjunction with the accompanying notes.

DEPARTMENT OF PARLIAMENTARY SERVICES
BALANCE SHEET
as at 30 June 2009
		2009		2008
	Notes	$ 000		$ 000
ASSETS
Financial Assets
Cash and cash equivalents	5A	208		1,040
Trade and other receivables	5B	68,501		66,406
Total financial assets		68,709		67,446
Non-Financial Assets
Infrastructure, plant and equipment	6A,B	49,353		44,960
Intangibles	6C	12,033		10,969
Inventories	6D	245		236
Other non-financial assets	6E	1,136		863
Total non-financial assets		62,767		57,028
Total Assets		131,476		124,474
LIABILITIES
Payables
Suppliers	7A	4,174		2,760
Other payables	7B	1,413		1,048
Total payables		5,587		3,808
Provisions
Employee provisions	8	19,766		17,517
Total provisions		19,766		17,517
Total Liabilities		25,353		21,325
Net Assets		106,123		103,149
EQUITY
Parent Entity Interest
Contributed equity		85,380		85,380
Reserves		11,553		9,503
Retained surplus (accumulated deficit)		9,190		8,266
Total Equity		106,123		103,149
Current Assets		70,090		68,545
Non-Current Assets		61,386		55,929
Current Liabilities		20,979		17,776
Non-Current Liabilities		4,374		3,549
The above statement should be read in conjunction with the accompanying notes.

 

DEPARTMENT OF PARLIAMENTARY SERVICES
STATEMENT of CHANGES in EQUITY
as at 30 June 2009
	Retained Earnings		Asset Revaluation		Contributed		Total Equity
			Reserves		Equity/Capital
	2009	2008	2009	2008	2009	2008	2009	2008
	$ 000	$'000	$ 000	$ 000	$ 000	$ 000	$ 000	$ 000
Opening balance
Balance carried forward from previous period	8,266	3,518	9,503	1,378	85,380	85,507	103,149	90,403
Adjustment for rounding	-	1	(1)	-	-	-	(1)	1
Adjustment for changes in accounting policies	-	-	-	-	-	-	-	-
Adjusted opening balance	8,266	3,519	9,502	1,378	85,380	85,507	103,148	90,404
Income and expense
Revaluation adjustment	-	-	2,051	8,125	-	-	2,051	8,125
Subtotal income and expense recognised in equity	-	-	2,051	8,125	-	-	2,051	8,125
Surplus for the period	924	4,747	-	-	-	-	924	4,747
Total income and expenses	924	4,747	2,051	8,125	-	-	2,975	12,872
Transactions with owners
Distributions to owners
Returns on capital:
Dividends	-	-	-	-	-	-	-	-
Returns of capital:
Other	-	-	-	-	-	(127)	-	(127)
Contributions by Owners
Appropriation (equity injection)	-	-	-	-	-	-	-	-
Restructuring	-	-	-	-	-	-	-	-
Sub-total transactions with owners	-	-	-	-	-	(127)	-	(127)
Transfers between equity components	-	-	-	-	-	-	-	-
Closing balance at 30 June	9,190	8,266	11,553	9,503	85,380	85,380	106,123	103,149
Closing balance attriutable to the Australian Government	9,190	8,266	11,553	9,503	85,380	85,380	106,123	103,149
The above statement should be read in conjunction with the accompanying notes.

 

DEPARTMENT OF PARLIAMENTARY SERVICES
STATEMENT OF CASH FLOWS
for the period ended 30 June 2009
		2009		2008
	Notes	$ 000		$ 000
OPERATING ACTIVITIES
Cash received
Goods and services		5,867		6,060
Appropriations		114,935		107,102
Net GST received		5,055		4,746
Other		334		864
Total cash received		126,191		118,772
Cash used
Employees		64,677		64,757
Suppliers		45,014		43,319
Other		-		-
Total cash used		109,691		108,076
Net cash from (used by) operating activities	9	16,500		10,696
INVESTING ACTIVITIES
Cash received
Proceeds from sales of property, plant and equipment		59		66
Total cash received		59		66
Cash used
Purchase of property, plant and equipment		12,461		5,357
Purchase of intangibles		4,930		5,860
Total cash used		17,391		11,217
Net cash from (used by) investing activities		(17,332)		(11,151)
FINANCING ACTIVITIES
Cash received
Appropriations - capital injections		-		-
Total cash received		-		-
Cash used
Appropriations - return of capital		-		-
Total cash used		-		-
Net cash from (used by) financing activities		-		-
Net increase or (decrease) in cash held		(832)		(455)
Cash at the beginning of the reporting period		1,040		1,495
Cash at the end of the reporting period	5A	208		1,040
The above statement should be read in conjunction with the accompanying notes.

 

DEPARTMENT OF PARLIAMENTARY SERVICES
SCHEDULE OF COMMITMENTS
as at 30 June 2009
			2009		2008
BY TYPE			$ 000		$ 000
Commitments receivable
Sublease rental income			(36)		(144)
GST recoverable on commitments			(4,233)		(5,920)
Total Commitments Receivable			(4,269)		(6,064)
Commitments payable
Capital commitments
Infrastructure, plant and equipment1			1,508		251
Intangibles			3,980		198
Total capital commitments			5,488		449
Other commitments
Operating leases2			297		245
Other commitments3			40,773		64,426
Total other commitments			41,070		64,671
Net commitments by type			42,289		59,056
BY MATURITY
Commitments receivable
Operating lease income
One year or less			(36)		(108)
From one to five years			-		(36)
Total operating lease income			(36)		(144)
Other commitments receivable
One year or less			(2,292)		(2,274)
From one to five years			(1,941)		(3,646)
Total other commitments receivable			(4,233)		(5,920)
Commitments payable
Capital commitments
One year or less			5,488		449
Total capital commitments			5,488		449
Operating lease commitments
One year or less			178		141
From one to five years			119		104
Total operating lease commitments			297		245
Other Commitments
One year or less			19,546		24,423
From one to five years			21,228		40,003
Total other commitments			40,774		64,426
Net commitments by maturity			42,289		59,056
NB: Commitments are GST inclusive where relevant.
1	Infrastructure, plant and equipment commitments are primarily for purchase of equipment and services for IT system assets and furniture and fittings.
2	Operating leases included are effectively non-cancellable and comprise agreements for the provision of motor vehicles.
	Nature of lease	General description of leasing arrangement
	Motor vehicles	No contingent rentals exist. There are no renewal or purchase options available to DPS.
3	Other commitments are comprised of long term contracts in force as at 30 June 2009, where total consideration is greater than $100,000, and outstanding purchase orders at 30 June 2009, where the goods and services were ordered but not received by 30 June 2009.
The above schedule should be read in conjunction with the accompanying notes.

 

DEPARTMENT OF PARLIAMENTARY SERVICES
SCHEDULE OF ADMINISTERED ITEMS
		2009		2008
	Notes	$ 000		$ 000
Income administered on behalf of government
for the period ended 30 June 2009
Revenue
Other	15	9		1,180
Total revenue administered on behalf of government		9		1,180
Expenses administered on behalf of government
for the period ended 30 June 2009
Depreciation and amortisation	16	18,466		18,328
Write-down and impairment of assets		20		7
Value of assets sold		1		6
Total expenses administered on behalf of government		18,487		18,341
Assets administered on behalf of government
as at 30 June 2009
Financial assets
Receivables	17A	100		43
Total financial assets		100		43
Non-financial assets
Land and buildings	17B	1,812,393		1,635,978
Property, plant and equipment
Infrastructure, plant and equipment	17B	5,873		5,984
Heritage and cultural assets	17B	77,235		72,175
Total non-financial assets		1,895,501		1,714,137
Total assets administered on behalf of government		1,895,601		1,714,180
Liabilities administered on behalf of government
as at 30 June 2009
Payables
Suppliers	18	439		174
Total liabilities administered on behalf of government		439		174
The above schedule should be read in conjunction with the accompanying notes.

 

DEPARTMENT OF PARLIAMENTARY SERVICES
SCHEDULE OF ADMINISTERED ITEMS (continued)
		2009		2008
		$ 000		$ 000
Administered cash flows
for the period ended 30 June 2009
OPERATING ACTIVITIES
Cash received
Net GST received from the ATO		710		628
GST received from customers		1		1
Other revenue		7		7
Other receipts		-		-
Total cash received		718		636
Cash used
GST paid to suppliers		(744)		(578)
Cash returned to Appropriation for:
- GST returned		(710)		(628)
- Other		(1)		(1)
Cash to Official Public Account for:
- GST returned		-		-
- Other		(8)		(9)
Total cash used		(1,463)		(1,216)
Net cash from (used by) operating activities		(745)		(580)
INVESTING ACTIVITIES
Cash received
Proceeds from sales of property, plant and equipment		1		1
Total cash received		1		1
Cash used
Purchase of property, plant and equipment		(8,859)		(5,894)
Total cash used		(8,859)		(5,894)
Net cash from (used by) investing activities		(8,858)		(5,893)
FINANCING ACTIVITIES
Cash received
Assets and Liability Appropriation		9,603		6,473
Total cash received		9,603		6,473
Cash used
Purchase of property, plant and equipment		-		-
Total cash used		-		-
Net cash from (used by) financing activities		9,603		6,473
Net increase (decrease) in cash held		-		-
Cash at the beginning of the reporting period		-		-
Cash at the end of the reporting period		-		-
The above schedule should be read in conjunction with the accompanying notes.

 

DEPARTMENT OF PARLIAMENTARY SERVICES
SCHEDULE OF ADMINISTERED ITEMS (continued)
			2009		2008
			$ 000		$ 000
Administered commitments
as at 30 June 2009
BY TYPE
Commitments receivable
Other commitments receivable
GST recoverable on commitments			(260)		(95)
Total commitments receivable			(260)		(95)
Commitments payable
Capital commitments
Infrastructure, plant and equipment			2,863		1,042
Total capital commitments			2,863		1,042
Net commitments by type			2,603		947
BY MATURITY
Commitments receivable
Other commitments receivable
One year or less			(260)		(95)
From one to five years			-		-
Over five years			-		-
Total other commitments receivable			(260)		(95)
Commitments payable
Capital commitments
One year or less			2,863		1,042
From one to five years			-		-
Over five years			-		-
Total capital commitments			2,863		1,042
Net commitments by maturity			2,603		947
NB: Commitments are GST inclusive where relevant.
Administered contingencies
as at 30 June 2009
There were no contingencies or remote or unquantifiable contingencies at balance date.
Statement of activities administered on behalf of the Australian Government
The major administered activities of the Department of Parliamentary Services are directed towards achieving the outcome described in Note 1 to the Financial Statements. Details of planned activities can be found in the Agency Portfolio Budget Statements for 2008-09.
The above schedule should be read in conjunction with the accompanying notes.

---

Note	Description

Note 1 Summary of Significant Accounting Policies

Note 2 Events after the Balance Sheet date

Note 3 Income

Note 4 Expenses

Note 5 Financial Assets

Note 6 Non-Financial Assets

Note 7 Payables

Note 8 Provisions

Note 9 Cash Flow Reconciliation

Note 10 Contingent Liabilities and Assets

Note 11 Senior Executive Remuneration

Note 12 Remuneration of Auditors

Note 13 Average Staffing Level

Note 14 Financial Instruments

Note 15 Income Administered on Behalf of Government

Note 16 Expenses Administered on Behalf of Government

Note 17 Assets Administered on Behalf of Government

Note 18 Liabilities Administered on Behalf of Government

Note 19 Administered Reconciliation Table

Note 20 Financial Instruments

Note 21 Appropriations

Note 22 Special Accounts

Note 23 Compensation and Debt Relief

Note 24 Reporting of Outcomes

Note 1 Summary of Significant Accounting Policies

1.1 Objectives of the Department of Parliamentary Services (DPS)

DPS is an Australian Parliamentary Service organisation. The objective of DPS is to serve the Australian people by supporting the Parliament and caring for Parliament House.

DPS is structured to meet one outcome. This outcome is:

Occupants of Parliament House are supported by integrated services and facilities, Parliament functions effectively and its work and building are accessible to the public.

DPS s activities contributing towards this outcome are classified as either departmental or administered. Departmental activities involve the use of assets, liabilities, revenues and expenses controlled or incurred by DPS in its own right. Administered activities involve the management or oversight by DPS, on behalf of the Government, of items controlled or incurred by the Government.

The department s outcome is measured by the following outputs:

OUTPUT 1 Library services

An effective knowledge centre for the Parliament through the provision of information, analysis and advice.

1.1 Research services.

1.2 information access services.

OUTPUT 2 Building and occupant services

An efficiently functioning, safe and secure environment for Senators, Members, other building occupants and visitors.

2.1 Security services.

2.2 Facilities services.

OUTPUT 3 Infrastructure services

Integrated services and facilities through the provision of maintenance, infrastructure and support services.

3.1 Building infrastructure services.

3.2 IT infrastructure services.

OUTPUT 4 Parliamentary records services

Access to the work of the Parliament through the provision of audio-visual and Hansard records of proceedings of Parliament.

4.1 Broadcasting services.

4.2 Hansard services.

The Administered item

Works Program Support for the operation of Parliament into the future, while at the same time preserving the design integrity of the architecture, engineering systems, art and landscape that make up Parliament House.

The continued existence of DPS in its present form and with its present programs is dependent on Government policy and on continued appropriations by Parliament for DPS administration and programs.

1.2 Basis of Preparation of the Financial Report

The Financial Statements and notes are required by section 49 of the Financial Management and Accountability Act 1997 and are a general purpose financial report.

The Financial Statements and notes have been prepared in accordance with:

         Finance Minister s Orders (or FMOs), for reporting periods ending on or after 1 July 2008;

         Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) that apply for the reporting period.

The Financial Report has been prepared on an accrual basis and is in accordance with historical cost convention, except for certain assets at fair value. Except where stated, no allowance is made for the effect of changing prices on the results or the financial position.

The Financial Report is presented in Australian dollars, and values are rounded to the nearest thousand dollars unless disclosure of the full amount is specifically required.

Unless alternative treatment is specifically required by an Accounting Standard or FMOs, assets and liabilities are recognised in the Balance Sheet when and only when it is probable that future economic benefits will flow to DPS or a future sacrifice of economic benefit will be required and the amounts of the assets or liabilities can be reliably measured. However, assets and liabilities arising under agreements that are equally proportionately unperformed are not recognised unless required by an Accounting Standard. Liabilities and assets that are unrealised are reported in the Schedule of Commitments and the Schedule of Contingencies.

Unless alternative treatment is specifically required by an Accounting Standard, revenues and expenses are recognised in the Income Statement when and only when the flow or consumption or loss of economic benefits has occurred and can be reliably measured.

Administered revenues, expenses, assets and liabilities and cash flows reported in the Schedule of Administered Items and related notes are accounted for on the same basis and using the same policies as for departmental items, except where otherwise stated at Note 1.21

1.3 Significant Accounting Judgements and Estimates

In the process of applying the accounting policies listed in this note, DPS has made the following judgements that have the most significant impact on the amounts recorded in the financial statements:

         The fair value of land and buildings has been taken to be the market value subject to restricted use clause as determined by an independent valuer. Parliament House is purpose-built and may in fact realise more or less in the market.

No accounting assumptions or estimates have been identified that have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next accounting period.

1.4 Changes in Australian Accounting Standards

Adoption of new Australian Accounting Standard requirements

No accounting standard has been adopted earlier than the application date as stated in the standard. Of the new standards, amendments to standards or interpretations issued by the Australian Accounting Standards Board that are applicable to the current reporting year, the following have had the impact, as disclosed, on DPS:

AASB 116 Property Plant and Equipment the changes have no financial impact but will affect the presentation of the financial reports;

AASB 137 Provisions, Contingent Liabilities and Contingent Assets the changes have no financial impact but will affect the presentation of the financial reports; and

AASB 2007-9 Amendments to Australian Accounting Standards arising from the Review of AASs 27,29 and 31 [AASB 3, AASB 5, AASB 8, AASB 101, AASB 114, AASB 116, AASB 127 & AASB 137G Interpretation 11 AASB 2 Group and Treasury Share Transactions and 2007-1] the changes have no financial impact but will affect the presentation of the financial reports.

Future Australian Accounting Standard requirements

Of the new standards, amendments to standards or interpretations issued by the Australian Accounting Standards Board that are applicable to future periods, the following will have the impact as disclosed on DPS:

AASB 101 Presentation of Financial Statements (Sep 2007) DPS will have to make retrospective restatements.

1.5 Revenue

Revenue from Government

Amounts appropriated for departmental outputs for the year (adjusted for any formal additions or reductions) are recognised as revenue when DPS gains control of the appropriation, except for certain amounts that relate to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned.

Appropriations receivable are recognised at their nominal amounts.

Resources Received Free of Charge

Resources received free of charge are recognised as revenue when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense.

Resources received free of charge are recorded as either revenue or gains depending on their nature ie if they have been generated in the course of the ordinary activities of DPS, they are treated as revenue.

Other Types of Revenue

Revenue from the sale of goods is recognised when:

         the risks and rewards of ownership have been transferred to the buyer;

         the seller retains no managerial involvement nor effective control over the goods;

         the revenue and transaction costs incurred can be reliably measured; and

         it is probable that the economic benefits associated with the transaction will flow to DPS.

Revenue from rendering of services is recognised by reference to the stage of completion of contracts at the reporting date. The revenue is recognised when:

         the amount of revenue, stage of completion and transaction costs incurred can be reliably measured; and

         the probable economic benefits of the transaction will flow to DPS.

The stage of completion of contracts at the reporting date is determined by reference to the proportion that costs incurred to date bear to the estimated total costs of the transaction.

Receivables for goods and services, which have 30 day terms, are recognised at nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at balance date. Allowance is made when the collectability of the debt is no longer probable.

1.6 Gains

Other Resources Received Free of Charge

Resources received free of charge are recognised as gains when and only when a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense.

Contributions of assets at no cost of acquisition or for nominal consideration are recognised as gains at their fair value when the asset qualifies for recognition, unless received from another Government Agency or Authority as a consequence of a restructuring of administrative arrangements (Refer to Note 1.7).

Resources received free of charge are recorded as either revenue or gains depending on their nature.

Sale of Assets

Gains from disposal of non-current assets are recognised when control of the asset has passed to the buyer.

1.7 Transactions with the Government as Owner

Equity injections

Amounts appropriated which are designated as equity injections for a year (less any formal reductions) are recognised directly in Contributed Equity in that year.

Restructuring of Administrative Arrangements

Net assets received or relinquished to another Australian Government Agency or Authority under a restructuring of administrative arrangements are adjusted at their book value directly against contributed equity.

Other distributions to owners

The FMOs require that distributions to owners be debited to Contributed Equity unless they are in the nature of a dividend.

1.8 Employee Benefits

Liabilities for services rendered by employees are recognised at reporting date to the extent that they have not been settled.

Liabilities for short-term employee benefits (as defined in AASB 119 Employee Benefits) and termination benefits due within 12 months of balance date are measured at their nominal amounts. The nominal amount is calculated with regard to the rates expected to be paid on settlement of the liability.

All other employee benefit liabilities are measured as the present value of the estimated future cash outflows to be made in respect of services provided by employees up to the reporting date.

Leave

The liability for employee benefits includes provision for annual leave and long service leave. No provision has been made for sick leave as all sick leave is non-vesting and the average sick leave taken in future years by employees of DPS is estimated to be less than the annual entitlement for sick leave.

The leave liabilities are calculated on the basis of employees remuneration at the estimated salary rate that applies at the time the leave is taken to the extent that the leave is likely to be taken during service rather than paid out on termination.

The liability for long service leave was calculated using the shorthand method provided by the Australian Government Actuary. The estimate of the present value of the liability takes into account attrition rates and pay increases through promotion and inflation.

Separation and Redundancy

Provision is made for separation and redundancy payments in circumstances where DPS has made an offer of Voluntary Redundancy which has been accepted by a staff member and a reliable estimate of the total amount of the payment can be determined.

Superannuation

DPS staff are members of the Commonwealth Superannuation Scheme (CSS), the Public Sector Superannuation Scheme (PSS) or the PSS accumulation plan (PSSap).

The CSS and PSS are defined benefit schemes for the Commonwealth. The PSSap is a defined contribution scheme.

The liability for defined benefits is recognised in the financial statements of the Australian Government and is settled by the Australian Government in due course. This liability is reported by the Department of Finance and Deregulation as an administered item.

DPS makes employer contributions to the Employee Superannuation Scheme at rates determined by an actuary to be sufficient to meet the current cost to the Government of the superannuation entitlements of DPS s employees. DPS accounts for the contribution as if they were contributions to defined contribution plans.

The liability for superannuation recognised as at 30 June represents outstanding contributions for the final pay accrual of the reporting period, plus the anticipated superannuation contributions when staff take recreation and long service leave.

1.9 Leases

A distinction is made between finance leases and operating leases. Finance leases effectively transfer from the lessor to the lessee substantially all the risks and benefits incidental to ownership of leased non-current assets. An operating lease is a lease which is not a finance lease. In operating leases, the lessor effectively retains substantially all such risks and benefits.

Where a non-current asset is acquired by means of a finance lease, the asset is capitalised at either the fair value of the lease property or, if lower, the present value of minimum lease payments at the inception of the contract, and a liability recognised at the same time and for the same amount.

The discount rate used is the interest rate implicit in the lease. Leased assets are amortised over the period of the lease. Lease payments are allocated between the principal component and the interest expense.

Operating lease payments are expensed on a straight line basis which is representative of the pattern of benefits derived from the leased assets.

1.10 Borrowing Costs

All borrowing costs are expensed as incurred.

1.11 Cash

Cash and cash equivalents include notes and coins held and any deposits in DPS s bank accounts. Cash is recognised at its nominal amount.

1.12 Financial Assets

DPS classifies its financial assets in the following categories:

• financial assets at fair value through profit or loss;
• held-to-maturity investments;
• available-for-sale financial assets; and
• loans and receivables.

The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. Financial assets are recognised and derecognised upon trade date.

Effective interest method

The effective interest method is a method of calculating the amortised cost of a financial asset and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts over the expected life of the financial asset, or, where appropriate, a shorter period.

Income is recognised on an effective interest rate basis except for financial assets at fair value through profit or loss.

Financial assets at fair value through profit or loss

Financial assets are classified as financial assets at fair value through profit or loss where the financial assets:

• have been acquired principally for the purpose of selling in the near future;
• are a part of an identified portfolio of financial instruments that the agency manages together and has a recent actual pattern of short-term profit-taking; or
• are derivatives that are not designated and effective as a hedging instrument.

Assets in this category are classified as current assets.

Financial assets at fair value through profit or loss are stated at fair value, with any resultant gain or loss recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any interest earned on the financial asset. DPS has no such instruments.

Available-for-Sale Financial Assets

Available-for-sale financial assets are non-derivatives that are either designated in this category or not classified in any of the other categories. They are included in non-current assets unless management intends to dispose of the asset within 12 months of the balance sheet date.

Available-for-sale financial assets are recorded at fair value. Gains and losses arising from changes in fair value are recognised directly in the reserves (equity) with the exception of impairment losses. Interest is calculated using the effective interest method and foreign exchange gains and losses on monetary assets are recognised directly in profit or loss. Where the asset is disposed of or is determined to be impaired, part (or all) of the cumulative gain or loss previously recognised in the reserve is included in profit for the period.

Where a reliable fair value cannot be established for unlisted investments in equity instruments, cost is used. DPS has no such instruments.

Held-to-maturity investments

Non-derivative financial assets with fixed or determinable payments and fixed maturity dates that the group has the positive intent and ability to hold to maturity are classified as held-to-maturity investments. Held-to-maturity investments are recorded at amortised cost using the effective interest method less impairment, with revenue recognised on an effective yield basis. DPS has no such investments.

Loans and receivables

Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as loans and receivables . They are included in current assets, except for maturities greater than 12 months after the balance sheet date. These are classified as non-current assets. Loans and receivables are measured at amortised cost using the effective interest method less impairment. Interest is recognised by applying the effective interest rate.

Impairment of financial assets

Financial assets are assessed for impairment at each balance date.

Financial assets held at amortised cost

If there is objective evidence that an impairment loss has been incurred for loans and receivables or held to maturity investments held at amortised cost, the amount of the loss is measured as the difference between the asset s carrying amount and the present value of estimated future cash flows discounted at the asset s original effective interest rate. The carrying amount is reduced by way of an allowance account. The loss is recognised in the income statement.

Available-for-sale financial assets

If there is objective evidence that an impairment loss on an available-for-sale financial asset has been incurred, the amount of the difference between its cost, less principal repayments and amortisation, and its current fair value, less any impairment loss previously recognised in expenses, is transferred from equity to the income statement.

Available-for-sale financial assets (held at cost)

If there is objective evidence that an impairment loss has been incurred the amount of the impairment loss is the difference between the carrying amount of the asset and the present value of the estimated future cash flows discounted at the current market rate for similar assets.

1.13 Financial Liabilities

Financial liabilities are classified as either financial liabilities at fair value through profit or loss or other financial liabilities.

Financial liabilities are recognised and derecognised upon trade date.

Financial liabilities at fair value through profit and loss

Financial liabilities at fair value through profit or loss are initially measured at fair value. Subsequent fair value adjustments are recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any interest paid on the financial liability.

Other financial liabilities

Other financial liabilities, including borrowings, are initially measured at fair value, net of transaction costs. Other financial liabilities are subsequently measured at amortised cost using the effective interest method, with interest expense recognised on an effective yield basis.

The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or, where appropriate, a shorter period.

Supplier and other payables are recognised at amortised cost. Liabilities are recognised to the extent that the goods and services have been received (and irrespective of having been invoiced).

1.14 Contingent Liabilities and Contingent Assets

Contingent Liabilities and Contingent Assets are not recognised in the Balance Sheet but are reported in the relevant schedules and notes. They may arise from uncertainty as to the existence of a liability or asset, or represent an existing liability or asset in respect of which settlement is not probable, or the amount cannot be reliably measured. Remote contingencies are part of this disclosure. Contingent Assets are reported when settlement is probable, and Contingent Liabilities are recognised when settlement is greater than remote.

1.15 Financial Guarantee Contracts

Financial guarantee contracts are accounted for in accordance with AASB 139 Financial Instruments: Recognition and Measurement. They are not treated as a Contingent Liability, as they are regarded as financial instruments outside the scope of AASB 137 Provisions, Contingent Liabilities and Contingent Assets.

1.16 Acquisition of Assets

Assets are recorded at cost on acquisition except as stated below. The cost of acquisition includes the fair value of assets transferred in exchange and liabilities undertaken. Financial assets are initially measured at their fair value plus transaction costs where appropriate.

Assets acquired at no cost, or for nominal consideration, are initially recognised as assets and revenues at their fair value at the date of acquisition, unless acquired as a consequence of restructuring administrative arrangements. In the latter case, assets are initially recognised as contributions by owners at the amounts at which they were recognised in the transferor agency s accounts immediately prior to the restructuring.

1.17 Property, Plant and Equipment (PP&E)

Asset Recognition Threshold

Purchases of property, plant and equipment are recognised initially at cost in the Balance Sheet, except for purchases costing less than $2,000, which are expensed in the year of acquisition (other than where they form part of a group of similar items which are significant in total, or add to system assets).

The initial cost of an asset includes an estimate of the cost of dismantling and removing the item and restoring the site on which it is located.

Definition of Assets

In these statements, except for office equipment, technical equipment and furniture which are recorded as individual items, a reportable asset is a functional system in which component parts do not retain a separate identity and are not expected to be used by DPS after the asset is disposed of.

All non-current depreciable assets are recognised in the financial statements if they belong to a class of assets which is represented by:

         complete functional systems valued at cost or independent valuation;

         work in progress valued at cost;

         individual items at cost of acquisition or valuation of at least $2,000; or

         a group of individual items.

DPS identifies and records all assets individually for fraud control and management purposes.

All monographs added to the Library Collection are capitalised regardless of their individual value as they are regarded as part of a group of similar items significant in total.

Revaluations

Fair values for each class of asset are determined as shown below.

Asset class	Fair value measured at:
Land	Market selling price subject to restricted use clause
Buildings	Depreciated replacement cost
Information Technology Assets	Market selling price or depreciated replacement cost
Communication Assets	Market selling price or depreciated replacement cost
Monitoring Assets	Market selling price or depreciated replacement cost
Furniture and Equipment	Market selling price or depreciated replacement cost
Library Collection	Market selling price or depreciated replacement cost
Security Infrastructure	Depreciated replacement cost
Heritage and Cultural	Market selling price

Following initial recognition at cost, property, plant and equipment and heritage and cultural assets are carried at fair value less accumulated depreciation and accumulated impairment losses. Valuations are conducted with sufficient frequency to ensure that the carrying amounts of assets do not differ materially from the assets fair values as at the reporting date. The regularity of independent valuations depends upon the volatility of movements in market values for the relevant assets.

Revaluation adjustments are made on a class basis. Any revaluation increment is credited to equity under the heading of asset revaluation reserve except to the extent that it reverses a previous revaluation decrement of the same asset class that was previously recognised through operating result. Revaluation decrements for a class of assets are recognised directly through operating result except to the extent that they reverse a previous revaluation increment for that class.

Work-in-progress

If, at 30 June 2009, an asset is not fully constructed, the expenditure will be disclosed separately as work in progress . Depreciation will not be set until the project has been completed to a stage where it can provide a service to DPS.

Depreciation

An asset is depreciated from the time it is first put into or held ready for use. When an asset is a complex structure made up of interdependent substructures which require installation at successive stages, it is considered as being ready for use only after installation has been completed to a stage where it can provide a service to DPS.

Depreciable property, plant and equipment assets are written off to their estimated residual values over their estimated useful life to DPS. Depreciation is calculated using either the straight-line method which is consistent with the pattern of usage or the diminishing value method which is consistent with the market selling price.

Depreciation rates (useful lives), residual values and methods are reviewed at each reporting date and necessary adjustments are recognised in the current or current and future reporting periods as appropriate.

Heritage and Cultural assets are not depreciated.

Depreciation rates applying to each class of depreciable assets are based on the following useful lives:

	2009		2008
Building	20 to 200 years		20 to 200 years
IT Assets	2 to 20 years		2 to 20 years
Communication Assets	4 to 25 years		4 to 25 years
Monitoring Assets	3 to 20 years		3 to 20 years
Furniture and Equipment	3 to 50 years		2 to 50 years
Library Collection	3 to 30 years		3 to 30 years
Security Infrastructure	3 to 25 years		3 to 25 years

Impairment

All assets were assessed for impairment at 30 June 2009. Where indications of impairment exist, the asset s recoverable amount is estimated and an impairment adjustment made if the asset s recoverable amount is less than its carrying amount.

The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Value in use is the present value of the future cash flows expected to be derived from the asset. Where the future economic benefit of an asset is not primarily dependent on the asset s ability to generate future cash flows, and the asset would be replaced if DPS were deprived of the asset, its value in use is taken to be its depreciated replacement cost.

No indicators of impairment were found for PP&E assets at fair value.

1.18 Intangibles

Intangibles comprise purchased and internally-developed software for internal use and works-in-progress. These assets are carried at cost less accumulated amortisation and accumulated impairment losses.

Software is amortised on a straight-line basis over its anticipated useful life. The useful life of DPS s software is between 3 to 10 years (2007-08: 3 to 10 years). Works-in-progress are not depreciated.

All software assets were assessed for indications of impairment as at 30 June 2009, no indications of impairment were found.

1.19 Inventories

The Parliament Shop inventories are held for resale and are valued at the lower of cost or net realisable value. Costs are assigned to stock on a first-in-first-out basis.

1.20 Taxation

DPS is exempt from all forms of taxation except fringe benefits tax and the goods and services tax (GST).

Revenues, expenses and assets are recognised net of GST:

         except where the amount of GST incurred is not recoverable from the Australian Taxation Office; and

         except for receivables and payables.

1.21 Reporting of Administered Activities

Administered revenues, expenses, assets, liabilities and cash flows are disclosed in the Schedule of Administered Items and related notes.

Except where otherwise stated below, administered items are reported on the same basis and using the same policies as for Departmental items, including the application of Australian Accounting Standards.

Administered appropriations received or receivable from the Official Public Account (OPA) are not reported as administered revenues and assets respectively. Similarly, administered receipts transferred or transferable to the OPA are not reported as administered expenses or payables. These transactions and balances are internal to the Administered entity. These transfers of cash are reported as administered operating cash flows and in the administered reconciliation table in Note 19.

1.22 Adjustment to 2007-08 comparatives

In 2008-09 DPS changed the classification of some receipts from revenue to expense offset. This required 2007-08 comparatives to be restated in the Income Statement, the Cash Flow Statement and in the related notes.

Also in 2008-09, and as required by the FMOs, DPS recognised the balance of the salary packaging account on the Statement of Financial Position. This required the 2007-08 comparatives to be restated in Statement of Financial Position, the Cash Flow Statement and related notes.

Note 2 Events after the Balance Sheet date

No significant events have impacted on DPS's operations after balance date.
	2009		2008
	$ 000		$ 000

Note 3 Income

Revenue
Note 3A Revenue from Government
Appropriation:
Departmental outputs	116,913		116,249
Total revenue from Government	116,913		116,249
Note 3B Sale of goods and rendering of services
Provision of goods - related entities	10		17
Provision of goods - external parties	1,249		1,189
Rendering of services - related entities	2,206		2,462
Rendering of services - external parties	1,184		1,085
Total sale of goods and rendering of services	4,649		4,753
Note 3C Rental income
Parliament House space - related entities	287		278
Parliament House space - external parties	965		932
Total rental income	1,252		1,210
Note 3D Other revenue
Other	13		8
Total other revenue	13		8
Note 3E Reversals of previous asset write-downs
Asset revaluation increment	1,068		-
Total reversals of previous asset write-downs	1,068		-
Note 3F Other gains
Resources received free of charge	170		179
Other	1		1
Total other gains	171		180

	2009		2008
	$ 000		$ 000

Note 4 Expenses

Note 4A Employee benefits
Wages and salaries	48,376		48,242
Superannuation:
Defined contribution plans	1,919		1,402
Defined benefits plans	8,220		7,468
Leave and other entitlements	7,401		5,965
Separation and redundancies	920		1,487
Other	249		396
Total employee benefits	67,085		64,960

Note 4B Suppliers
Provision of goods - related entities	20		14
Provision of goods - external parties	5,177		4,971
Rendering of services - related entities	13,254		11,282
Rendering of services - external parties	20,926		23,200
Operating lease rentals:
Minimum lease payments	45		40
Workers compensation premiums	1,347		643
Total supplier expenses	40,769		40,150
Note 4C Depreciation and amortisation
Depreciation:
Property, plant and equipment	11,245		8,873
Total depreciation	11,245		8,873
Amortisation:
Intangibles-Computer software	3,654		3,451
Total amortisation	3,654		3,451
Total depreciation and amortisation	14,899		12,324

	2009		2008
	$ 000		$ 000
Note 4C Depreciation and amortisation (cont)
The aggregate amounts of depreciation or amortisation expensed during the reporting period for each class of depreciable asset are as follows:
Information technology assets	2,170		2,089
Communication assets	4,042		2,743
Monitoring assets	156		120
Furniture and equipment	612		717
Library collection	615		580
Security infrastructure	3,650		2,624
Intangibles-Computer software	3,654		3,451
Total depreciation and amortisation	14,899		12,324

Note 4D Write-down and impairment of assets
Plant and equipment write-down	76		76
Intangibles-Computer software write-down	24		-
Total write-down and impairment of assets	100		76
Note 4E Losses from assets sales (gain)
Information technology assets	43		31
Communication assets	(3)		14
Monitoring assets	-		1
Furniture and equipment	(1)		71
Security infrastructure	250		26
Total losses from assets sales	289		143

	2009		2008
	$ 000		$ 000

Note 5 Financial Assets

Note 5A Cash and cash equivalents
Cash on hand	4		4
Deposits	204		1,036
Total cash and cash equivalents	208		1,040

Note 5B Trade and other receivables
Goods and services related entities	652		618
Goods and services external parties	385		395
Appropriations receivable for existing outputs	66,691		64,713
GST receivable from the Australian Taxation Office	773		682
Total trade and other receivables (gross)	68,501		66,408
Less impairment allowance account:
Goods and services	-		(2)
Total trade and other receivables (net)	68,501		66,406
All receivables are current assets
Receivables are aged as follows:
Not overdue	68,160		66,289
Overdue by:
less than 30 days	331		113
30 days to 60 days	4		-
61 days to 90 days	4		1
More than 90 days	2		5
Total receivables (gross)	68,501		66,408
The impairment allowance account is aged as follows:
Overdue by:
More than 90 days	-		(2)
Total impairment allowance account	-		(2)

Reconciliation of the impairment allowance account

Movement table

	Goods and services		Goods and services
Opening balance	(2)		(10)
Amounts written off	2		8
Closing balance	-		(2)

	2009		2008
	$ 000		$ 000

Note 6 Non-Financial Assets

Note 6A Property, plant and equipment Information technology assets
Work in progress (at cost)	2,442		856
Gross carrying value (at fair value)	24,296		22,387
Accumulated depreciation	(17,708)		(17,604)
Total information technology assets	9,030		5,639
Communication assets
Work in progress (at cost)	2,203		1,686
Gross carrying value (at fair value)	87,179		84,649
Accumulated depreciation	(72,383)		(69,016)
Total communication assets	16,999		17,319
Monitoring assets
Work in progress (at cost)	1,743		707
Gross carrying value (at fair value)	3,920		3,894
Accumulated depreciation	(3,664)		(3,508)
Total monitoring assets	1,999		1,093
Furniture and equipment
Work in progress (at cost)	240		27
Gross carrying value (at fair value)	11,072		11,230
Accumulated depreciation	(8,902)		(9,023)
Total furniture and equipment	2,410		2,234
Library collection
Work in progress (at cost)	3		35
Gross carrying value (at fair value)	12,954		7,956
Accumulated depreciation	(6,859)		(3,270)
Total Library collection	6,098		4,721
Security infrastructure
Work in progress (at cost)	784		1,280
Gross carrying value (at fair value)	72,814		73,310
Accumulated depreciation	(60,781)		(59,636)
Total security infrastructure	12,817		13,954
Total property, plant and equipment (non-current)	49,353		44,960

All revaluations are conducted in accordance with the revaluation policy stated at Note 1. In 2008-09, an independent valuer Simon O Leary, Certified Practicing Valuer, Australian Valuation Office conducted the revaluation as at 30 June 2009. Revaluation increment of $1,381,681 for Collection assets and $668,889 for IT assets (2007-08 increment: $4,328,307 for Communication assets, $34,245 for Monitoring assets and $3,761,980 for Security assets) was made to the Asset Revaluation Reserve. $1,068,482 was recognised as a revaluation gain for IT assets representing the reversal of a previous revaluation decrement that was expensed (2007-08 revaluation gain $Nil). No indicators of impairment were found for property, plant and equipment.

Note 6B Analysis of property, plant and equipment

TABLE A Reconciliation of the opening and closing balances of property, plant and equipment (including Library Collection) 2008-09

Item	Information Technology assets	Communic-ation assets	Monitoring Assets	Furniture and equipment	Library collection	Security assets	Total
	$ 000	$ 000	$ 000	$ 000	$ 000	$ 000	$ 000
As at 1 July 2008
Work in progress	856	1,686	707	27	35	1,280	4,591
Gross book value	22,387	84,649	3,894	11,230	7,956	72,310	202,426
Accumulated depreciation/amortisation	(17,604)	(69,016)	(3,508)	(9,023)	(3,270)	(59,636)	(162,057)
Net book value 1 July 2008	5,639	17,319	1,093	2,234	4,721	13,954	44,960
Additions
By purchase	3,894	3,698	1,062	814	672	2,779	12,919
Revaluations and impairments through equity	669	-	-	-	1,382	-	2,051
Revaluations through income statement	1,068	-	-	-	-	-	1,068
Reclassification	-	24	-	-	-	-	24
Depreciation/amortisation	(2,170)	(4,042)	(156)	(612)	(615)	(3650)	(11,245)
Disposals:
Other disposals	(70)	-	-	(26)	(62)	(266)	(424)
Net book value 30 June 2009	9,030	16,999	1,999	2,410	6,098	12,817	49,353
Net book value as of 30 June 2009 represented by:
Work in progress	2,442	2,203	1,743	240	3	784	7,415
Gross book value	24,296	87,179	3,920	11,072	12,954	72,814	212,235
Accumulated depreciation/amortisation	(17,708)	(72,383)	(3,664)	(8,902)	(6,859)	(60,781)	(170,297)
	9,030	16,999	1,999	2,410	6,098	12,817	49,353

Note 6B (continued) Analysis of property, plant and equipment TABLE A Reconciliation of the opening and closing balances of property, plant and equipment (including Library Collection) 2007-08
Item	Information Technology assets	Communic-ation assets	Monitoring Assets	Furniture and equipment	Library collection	Security assets		Total
	$ 000	$ 000	$ 000	$ 000	$ 000	$ 000		$ 000
As at 1 July 2007
Work in progress	860	855	386	16	10	824		2,951
Gross book value	22,506	72,813	3,373	11,540	7,544	61,866		179,642
Accumulated depreciation/amortisation	(17,047)	(59,604)	(3,066)	(9,166)	(2,732)	(50,465)		(142,080)
Net book value 1 July 2007	6,319	14,063	693	2,390	4,822	12,225		40,512
Additions
by purchase	1,413	1,775	453	651	542	626		5,460
Revaluations and impairments through equity	-	4,329	34	-	-	3,762		8,125
Reclassification	53	(90)	35	2	-	-		-
Depreciation/amortisation	(2,089)	(2,743)	(120)	(717)	(580)	(2,624)		(8,873)
Disposals:
Value of assets sold	(57)	(15)	(2)	(92)	(63)	(35)		(264)
Net book value 30 June 2008	5,639	17,319	1,093	2,234	4,721	13,954		44,960
Net book value as of 30 June 2008 represented by:
Work in progress	856	1,686	707	27	35	1,280		4,591
Gross book value	22,387	84,649	3,894	11,230	7,956	72,310		202,426
Accumulated depreciation/amortisation	(17,604)	(69,016)	(3,508)	(9,023)	(3,270)	(59,636)		(162,057)
	5,639	17,319	1,093	2,234	4,721	13,954		44,960

	2009		2008
	$ 000		$ 000

Note 6C Intangibles

Computer software at cost:
Purchased in progress	3,286		2,833
Internally developed in use	4,038		6,875
Purchased in use	27,212		25,102
Total Computer Software	34,536		34,810
Accumulated amortisation	(22,503)		(23,841)
Total intangibles (non-current)	12,033		10,969

No indicators of impairment were found for intangible assets.

TABLE C - Reconciliation of the opening and closing balances of intangibles (2008-09)

Item	Computer software internally developed	Computer software purchased	Total
	$ 000	$ 000	$ 000
As at 1 July 2008
Work in progress	-	2,833	2,833
Gross book value	6,875	25,102	31,977
Accumulated amortisation	(6,349)	(17,492)	(23,841)
Net book value 1 July 2008	526	10,443	10,969
Additions	-	4,766	4,766
Reclassifications		(24)	(24)
Amortisation expense	(496)	(3,158)	(3,654)
Write downs	-	(24)	(24)
Net book value 30 June 2009	30	12,003	12,033
Net book value as at 30 June 2009 represented by:
Work in progress	-	3,286	3,286
Gross book value	4,038	27,212	31,250
Accumulated amortisation	(4,008)	(18,495)	(22,503)
	30	12,003	12,033

TABLE C - Reconciliation of the opening and closing balances of intangibles (2007-08)

Item	Computer software internally developed	Computer software purchased	Total
	$ 000	$ 000	$ 000
As at 1 July 2007
Work in progress	-	2,473	2,473
Gross book value	6,849	19,554	26,403
Accumulated amortisation	(5,609)	(14,782)	(20,391)
Net book value 1 July 2007	1,240	7,245	8,485
Additions	26	5,909	5,935
Amortisation expense	(740)	(2,711)	(3,451)
Net book value 30 June 2008	526	10,443	10,969
Net book value as at 30 June 2008 represented by:
Work in progress	-	2,833	2,833
Gross book value	6,875	25,102	31,977
Accumulated amortisation	(6,349)	(17,492)	(23,841)
	526	10,443	10,969

	2009 $ 000		2008 $ 000
Note 6D Inventories
Inventories held for sale The Parliament Shop	245		236
Total inventories (current)	245		236
During 2008-09 $598,554 of inventory held for sale was recognised as an expense (2007-08 $549,702).
Note 6E Other non-financial assets
Prepayments	1,136		863
Total other non-financial assets (current)	1,136		863

No indicators of impairment were found for other non-financial assets.

Note 7 Payables

Note 7A Suppliers
Trade creditors and accrued expenses related entities	1,509		1,069
Trade creditors and accrued expenses external parties	2,665		1,691
Total supplier payables (current)	4,174		2,760
Settlement is usually made net 30 days
Note 7B Other payables
Salaries and wages	976		748
Superannuation	190		125
Separations and redundancy	242		172
Unearned income	5		3
Total other payables (current)	1,413		1,048

Note 8 Employee provisions

	Leave	19,766		17,517
	Total employee provisions	19,766		17,517
Employee provisions are represented by:
	Current	15,392		13,968
	Non-current	4,374		3,549
	Total employee provisions	19,766		17,517

The classification of current employee provisions includes amounts for which there is not an unconditional right to defer settlement by one year, hence in the case of employee provisions the above classification does not represent the amount expected to be settled within one year of reporting date. Employee provisions expected to be settled in twelve months from the reporting date are $13,450,492 (2008: $12,389,420), and in excess of one year $6,315,121 (2008: $5,127,541)

Note 9 Cash Flow Reconciliation

	2009 $ 000		2008 $ 000
Reconciliation of cash and cash equivalents as per Balance Sheet to Cash Flow Statement
Report cash and cash equivalents as per:
Cash Flow Statement	208		1,040
Balance Sheet	208		1,040
Difference	-		-
Reconciliation of operating result to net cash from operating activities:
Operating result	924		4,747
Depreciation/amortisation	14,899		12,324
Net write down of non-financial assets	100		76
(Gain) / Loss on disposal of assets	289		143
(Gain) / Loss on revaluation	(1,068)		-
(Gain) / Loss on foreign currency exchange	(1)		(1)
(Increase) / decrease in net receivables	(2,002)		(9,003)
(Increase) / decrease in inventories	(9)		(3)
(Increase) / decrease in prepayments	(273)		385
(Increase) / decrease in GST receivable	(91)		34
Increase / (decrease) in employee provisions	2,249		865
Increase / (decrease) in supplier payables	1,145		142
Increase / (decrease) in other provisions and payables	365		987
Net cash from / (used by) operating activities	16,500		10,696

Note 10 Contingent Liabilities and Assets

Quantifiable Contingencies

As at 30 June 2009 DPS had no quantifiable contingencies.

Unquantifiable Contingencies

As at 30 June 2009 DPS had two cases where the contingent gain or loss was unquantifiable.

Remote Contingencies

As at 30 June 2009 DPS had no remote contingencies.

2009

2008

Note 11 Senior Executive Remuneration

The number of senior executives who received or were due to receive total remuneration of $130,000 or more:
$175,000 to $189,999	1		2
$190,000 to $204,999	2		7
$205,000 to $219,999	3		-
$220,000 to $234,999	2		-
$250,000 to $264,999	1		1
$295,000 to $309,999	1		-
$310,000 to $324,999	-		1
$340,000 to $354,999	1		-
Total	11		11
The aggregate amount of total remuneration of executives shown above.	$2,581,696		$2,318,902
The aggregate amount of separation and redundancy/termination benefit payments during the year to executives shown above.	-		$119,372
Remuneration includes, where paid, wages and salaries, accrued leave, accrued superannuation, the cost of motor vehicles, allowances and fringe benefits tax included in remuneration agreements.

Note 12 Remuneration of Auditors

Financial statement audit services are provided free of charge to DPS.
The fair value of services provided was:	$141,000		$142,000
No other services were provided by the Auditor-General.

Note 13 Average Staffing Level

The average staffing level for DPS during the year was	811		783
The ASL figure includes those staff whose salary has been capitalised to either departmental or administered asset replacement activities. In 2008-09 $6,163,890 (07-08 $1,859,584) was capitalised.

2009 $ 000

2008 $ 000

Note 14 Financial Instruments

	Note 14A Categories of financial instruments
	Financial Assets
	Cash and cash equivalents	208		1,040
	Trade receivables	1,037		1,013
	Carrying amount of financial assets	1,245		2,053
Financial Liabilities
Other Liabilities
	Trade creditors	4,174		2,760
	Other	5		3
	Carrying amount of financial liabilities	4,179		2,763

Note 14B Credit risk

DPS is exposed to minimal credit risk as the majority of financial assets are cash and trade receivables. The maximum exposure to credit risk is the risk that arises from potential default of a debtor. This amount is equal to the total amount of trade receivables (2009: $1,037,368 and 2008: $1,013,467). DPS has assessed the risk of the default on payment and has allocated $Nil in 2009 (2008: $2,000) to an impairment allowance account. DPS has policies and procedures that guide debt recovery techniques that are to be applied.

DPS holds no collateral to mitigate against credit risk.

Credit quality of financial instruments not past due or individually determined as impaired

	Not past due nor impaired 2009	Not past due nor impaired 2008	Past due or impaired 2009	Past due or impaired 2008
	$ 000	$ 000	$ 000	$ 000
Loans and receivables
Cash and cash equivalents	208	1,040	-	-
Trade receivables	696	894	341	119
Total	904	1,934	341	119

Ageing of financial assets that are past due but not impaired for 2009
	0 to 30 days	31 to 60 days	61 to 90 days	90+ days	Total
	$ 000	$ 000	$ 000	$ 000	$ 000
Loans and receivables
Trade receivables	331	4	4	2	341
Total	331	4	4	2	341
Ageing of financial assets that are past due but not impaired for 2008
Loans and receivables
Trade receivables	113	-	1	5	119
Total	113	-	1	5	119

Note 14C Liquidity risk

Maturities for financial liabilities

	On demand 2009	Within 1 year 2009	1 to5 years 2009	> 5 years 2009	Total
	$ 000	$ 000	$ 000	$ 000	$ 000
Other liabilities
Trade creditors	-	4,174	-	-	4,174
Other		5			5
Total	-	4,179	-	-	4,179
	On demand 2008	Within 1 year 2008	1 to5 years 2008	> 5 years 2008	Total
	$ 000	$ 000	$ 000	$ 000	$ 000
Other liabilities
Trade creditors	-	2,760	-	-	2,760
Other		3			3
Total	-	2,763	-	-	2,763

Note 14 D Market risk

DPS holds basic financial instruments that do not expose the department to certain market risks. DPS is not exposed to currency risk or other price risk .

	2009 $ 000		2008 $ 000
Note 15 Income Administered on Behalf of Government
Heritage and cultural assets donated to the Parliament of Australia	1		23
Proceeds on sale of assets	6		6
Assets not previously recognised	-		1,148
Other revenue	2		3
Total income administered on behalf of Government	9		1,180

Note 16 Expenses Administered on Behalf of Government
Depreciation
Buildings	17,748		17,713
Other property, plant and equipment	718		615
Total depreciation	18,466		18,328
Assets written-down
Buildings	20		7
Total value of assets written-down	20		7
Value of assets sold
Other Property, Plant and Equipment	1		6
Total value of assets sold	1		6
Total expenses administered on behalf of Government	18,487		18,341

Note 17 Assets Administered on Behalf of Government
Note 17A Financial Assets
Receivables
GST receivable from ATO	100		43
Total financial assets administered on behalf of Government	100		43
All receivables are current

	2009 $ 000				2008 $ 000
Note 17 (continued) Assets Administered on Behalf of Government
Note 17B Non-Financial Assets
Land and buildings
Land
At fair value		50,000			25,000
Total land		50,000			25,000
Buildings
At fair value		1,753,552			1,607,678
Work in progress at cost		8,841			3,300
Total buildings		1,762,393			1,610,978
Total land and buildings		1,812,393			1,635,978
Property, plant and equipment
Furniture, fittings and equipment
At fair value		1,877			2,015
Total furniture, fittings and equipment		1,877			2,015
Plant and equipment
At fair value		3,996			3,969
Total plant and equipment		3,996			3,969
Heritage and cultural assets
At fair value		76,822			71,823
Work in progress at cost		413			352
Total heritage and cultural assets		77,235			72,175
Total property, plant and equipment		83,108			78,159
Total non-financial assets administered on behalf of Government		1,895,501			1,714,137
Total assets administered on behalf of Government		1,895,601			1,714,180
All formal revaluations are conducted in accordance with the revaluation policy stated at Note 1. An independent valuer Simon O Leary, Certified Practicing Valuer, Australian Valuation Office conducted the revaluation as at 30 June 2009. Revaluation increment of $25,000,000 for Land, $161,128,135 for Buildings and $4,621,921 for Heritage and cultural assets (2007-08 $12,857,521 for Heritage and cultural assets) was made to the Asset Revaluation Reserve. No indicators of impairment were found for land and buildings, and property, plant and equipment.