Annual Report 2008-2009 - Department of Transport

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128 (vii) Authorisations to expend in advance of appropriation Authorisation has been given to expend $10.776 million in advance of appropriation. This comprise the following: • Salary Increases as a result of the PSGA wage agreement 4 663 • LPG Subsidy Scheme 4 434 • Support for Fremantle Port Rail Service 3 500 • Leased Accommodation and Facility Management due to increased rentals and associated facility management costs 3 170 • Change of funding source for Koondoola Revitalisation and Wanneroo Revitalisation from Equity Contribution to Recurrent (Appropriation) 1 785 • Esperance Lead and Nickel Clean up and Recovery Project 1 050 • Property Asset Clearing House as per EERC Decision 17 March 2009 260 • 3% Government Initiated Efficiency Dividend (3 773) • Transfer of recurrent funding to Capital (2 130) • Deferral of North Greenbushes Inter modal Terminal Facility and Revitalised Rail Service to 2009-10 (1 287) • Deferral of Administration costs for Owner Driver (Contracts and Disputes) Bill to 2009-10 and out years (405) • Deferral of Wanneroo Revitalisation project to 2009-10 (285) • Savings from Media, Marketing and Advertising (206)
38 Financial instruments (a) Financial risk management objectives and policies Financial instruments held by the Department are cash and cash equivalents, restricted cash and cash equivalents, Treasurer’s advances and receivables and payables. Accounts of the Public Ledger and agency special purpose accounts make up the Public Bank Account. The Department has limited exposure to financial risks. The Department’s overall risk management program focuses on managing the risks identified below. Credit risk Credit risk arises when there is the possibility of the Department’s receivables defaulting on their contractual obligations resulting in financial loss to the Department. The maximum exposure to credit risk at balance sheet date in relation to each class of recognised financial assets is the gross carrying amount of those assets inclusive of any provisions for impairment, as shown in the table at Note 38(c) Financial instruments disclosures and note 20 Receivables. Credit risk associated with the Department’s financial assets is minimal because the main receivable is the amounts receivable for services (holding account). For receivables other than government, the Department trades only with recognised, creditworthy third parties. The Department has policies in place to ensure that sales of products and services are made to customers with an appropriate credit history. In addition, receivable balances are monitored on an ongoing basis with the result that the Department’s exposure to bad debts is minimal. There are no significant concentrations of credit risk at the balance sheet date. Allowance for impairment of financial assets is calculated based on objective evidence such as observable data indicating changes in client credit ratings. For financial assets that are either past due or impaired, refer to Note 38(c) Financial instruments disclosures and Note 20 Receivables. Liquidity risk The Department is exposed to liquidity risk through its trading in the normal course of business. Liquidity risk arises when the Department is unable to meet its financial obligations as they fall due. The Department has appropriate procedures to manage cash flows including drawdowns of appropriations by monitoring forecast cash flows to ensure that sufficient funds are available to meet its commitments. Market risk Market risk is the risk that changes in market prices such as foreign exchange rates and interest rates will affect the Department’s income or the value of its holdings of financial instruments. The Department does not trade in foreign currency and is not materially exposed to other price risks (for example, equity securities or commodity prices changes). Other than as detailed in the interest rate sensitivity analysis table at note 38(c), The Department is not exposed to interest rate risk because apart from minor amounts of restricted cash, all other cash and cash equivalents and restricted cash are non-interest bearing, and have no borrowings other than the Treasurer’s advance (non-interest bearing). 129
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DPI Annual Report 2008-09 Our Purpo
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2 Statement of Compliance with the
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4 Executive Summary The Department
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6 Executive Summary Passenger Servi
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8 Financial Summary In 2008-09, the
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10 Operational Structure Roles and
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12 Legislation priorities During 20
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14 Report on Operations Agency Perf
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16 Taxi rank marshals Experience in
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18 Taxi fare model review In Septem
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20 Additional boat pen facilities a
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22 Recreational Boating Facilities
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24 New boat pens at Exmouth and Ger
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26 Marine safety integrated data co
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28 Model rail safety legislation Th
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30 Road safety The Department, thro
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32 Review of Western Australian por
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34 National transport reform agenda
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36 Freight and Logistics Council of
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38 Cycle Instead The Department con
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40 Industrial buffers On behalf of
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42 Oakajee port and rail infrastruc
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44 Fremantle Harbours policy In rec
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46 CETO Wave Energy project The Dep
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48 Gnangara sustainability strategy
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50 Indigenous Pastoral Enterprise D
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52 Building a Better Planning Syste
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54 Stirling City Centre In November
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56 Murdoch activity centre The Depa
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58 Significant Issues and Trends Gl
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60 Disclosures and Legal Compliance
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Page 80 and 81: 78 Disclosures and Legal Compliance
Page 82 and 83: 80 Financial Statements Financial S
Page 84 and 85: 82 Financial Statements Certificati
Page 86 and 87: 84 Balance Sheet As at 30 June 2009
Page 88 and 89: 86 Cash Flow Statement For the year
Page 90 and 91: 88 Schedule of Assets and Liabiliti
Page 92 and 93: 90 Notes to the financial statement
Page 94 and 95: 92 Net appropriation determination
Page 96 and 97: 94 (i) Intangible assets Capitalisa
Page 98 and 99: 96 (r) Receivables Receivables are
Page 100 and 101: 98 (w) Resources received free of c
Page 102 and 103: 100 5 Employee benefits expense 200
Page 104 and 105: 102 11 Other expenses 2009 2008 $ 0
Page 106 and 107: 104 16 Income from State Government
Page 108 and 109: 106 20 Receivables 2009 2008 $ 000
Page 110 and 111: 108 Reconciliations of the carrying
Page 112 and 113: 110 25 Intangible assets 2009 2008
Page 114 and 115: 112 29 Provisions (continued) 2009
Page 116 and 117: 114 32 Notes to the Cash Flow State
Page 118 and 119: 116 34 Commitments (continued) (c)
Page 120 and 121: 118 37 Explanatory statement Signif
Page 122 and 123: 120 37 Explanatory statement (conti
Page 132 and 133: 130 38 Financial instruments (conti
Page 134 and 135: 132 38 Financial instruments (conti
Page 136 and 137: 134 2009 2008 $ 000 $ 000 42 Specia
Page 138 and 139: 136 42 Special purpose accounts (co
Page 140 and 141: 138 42 Special purpose accounts (co
Page 142 and 143: 140 45 Administered expenses and in
Page 144 and 145: 142 46 Administered assets and liab
Page 146 and 147: 144 Key Performance Indicators Key
Page 148 and 149: 146 Key Performance Indicators Depa
Page 150 and 151: 148 Key Performance Indicators Effe
Page 156 and 157: 154 Key Performance Indicators Key
Page 158 and 159: 156 Key Performance Indicators Time
Page 160 and 161: 158 Key Performance Indicators DPI
Page 162 and 163: 160 Key Performance Indicators Effi
Page 172 and 173: 170 Key Performance Indicators Effi
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178 Key Performance Indicators Area
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180 Office Locations Metropolitan o
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182 Licensing and Vehicle Examinati
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Annual Report 2008-2009 - Department of Transport

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