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Notes to and forming part <strong>of</strong> <strong>of</strong> the the Financial Statements<br />

30 June 30 June<br />

2006 2005<br />

$ $<br />

Financial sTATEMENTS Part 7<br />

Note 7E: Inventories<br />

Inventories held for distribution 158,817 143,088<br />

Total Inventories 158,817 143,088<br />

All departmental inventories are current assets.<br />

Note 7F: Other Non-Financial Assets<br />

Prepayments 3,292,767 12,026,709<br />

Total Other Non-financial Assets 3,292,767 12,026,709<br />

All other non-financial assets are current assets.<br />

The value <strong>of</strong> prepayments at 30 June 2006 has significantly reduced from the prior year due to a change in<br />

arrangements between the <strong>Court</strong> and United Group Services (UGS), under a new contract signed for the management<br />

<strong>of</strong> Commonwealth Law <strong>Court</strong>s (CLC) premises. Previously the <strong>Court</strong> made biannual prepayments in advance for<br />

disbursements on the <strong>Court</strong>'s behalf. However, from 1 July 2006 the <strong>Court</strong> will adopt a just in time payment<br />

arrangement. The prepayment monies have been returned to the Official Public Account (OPA) and recognised as a<br />

receivable (Note 6B).<br />

144<br />

<strong>Family</strong> <strong>Court</strong> <strong>of</strong> Australia Annual Report 2005–2006

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