Annual Report 2008-2009 - Department of Transport

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90 Notes to the financial statements For the year ended 30 June 2009 1 Departmental mission and funding The Department’s mission is to lead in creative and sustainable solutions for land, transport and infrastructure planning and delivery, for the benefit of the community. The Department is mainly funded by Parliamentary appropriations but is also able to retain some monies collected through its operations. The financial statements encompass all funds through which the Department controls resources to carry on its functions. 2 Australian Equivalents to International Financial Reporting Standards General The Department’s financial statements for the year ended 30 June 2009 have been prepared in accordance with Australian equivalents to International Financial Reporting Standards (AIFRS), which comprise a Framework for the Preparation and Presentation of Financial Statements (the Framework) and Australian Accounting Standards (including the Australian Accounting Interpretations). In preparing these financial statements the Department has adopted, where relevant to its operations, new and revised Standards and Interpretations from their operative dates as issued by the AASB and formerly the Urgent Issues Group (UIG). Early adoption of standards The Department cannot early adopt an Australian Accounting Standard or Australian Accounting Interpretation unless specifically permitted by Treasurer’s Instruction 1101 Application of Australian Accounting Standards and Other Pronouncements. No Standards and Interpretations that have been issued or amended but are not yet effective have been early adopted by the Department for the annual reporting period ended 30 June 2009. 3. Summary of significant accounting policies (a) General statement The financial statements constitute a general purpose financial report, which has been prepared in accordance with the Australian Accounting Standards, the Framework, Statements of Accounting Concepts and other authoritative pronouncements of the Australian Accounting Standards Board as applied by the Treasurer’s Instructions. Several of these are modified by the Treasurer’s Instructions to vary application, disclosure, format and wording. The Financial Management Act and the Treasurer’s Instructions are legislative provisions governing the preparation of financial statements and take precedence over the Accounting Standards, the Framework, Statements of Accounting Concepts and other authoritative pronouncements of the Australian Accounting Standards Board. Where modification is required and has a material or significant financial effect upon the reported results, details of that modification and the resulting financial effect, are disclosed in the notes to the financial statements. (b) Basis of preparation The financial statements have been prepared in accordance with Accounting Standard AAS 29 Financial Reporting by Government Departments on the accrual basis of accounting using the historical cost convention, modified by the revaluation of land and buildings which have been measured at fair value. The accounting policies adopted in the preparation of the financial statements have been consistently applied throughout all periods presented unless otherwise stated. The financial statements are presented in Australian dollars and all values are rounded to the nearest thousand dollars ($ 000). In the process of reporting the Department as a single entity, all intra entity transactions and balances have been eliminated.
(c) Reporting entity The reporting entity comprises the Department. The Department administers assets, liabilities, income and expenses on behalf of Government which are not controlled by, nor integral to the functions of the Department. These administered balances and transactions are not recognised in the principal financial statements of the Department but schedules are prepared using the same basis as the financial statements and are presented at note 45 Administered expenses and income and note 46 Administered assets and liabilities. (d) Contributed equity AASB Interpretation 1038 Contributions by Owners Made to Wholly- Owned Public Sector Entities requires transfers, other than as a result of a restructure of administrative arrangements, in the nature of equity contributions to be designated by the Government (the owner) as contributions by owners (at the time of, or prior to transfer) before such transfers can be recognised as equity contributions. Capital contributions (appropriations) have been designated as contributions by owners by Treasurer’s instruction (TI) 955 Contributions by Owners made to Wholly Owned Public Sector Entities and have been credited directly to Contributed Equity. Transfer of net assets to/from other agencies, other than as a result of a restructure of administrative arrangements, are designated as contributions by owners where the transfers are non-discretionary and non-reciprocal. See note 31 Equity. (e) Income Revenue recognition Revenue is measured at the fair value of consideration received or receivable. Revenue is recognised for the major business activities as follows: Sale of goods Revenue is recognised from the sale of goods and disposal of other assets when the significant risks and rewards of ownership control transfer to the purchaser and can be measured reliably. Rendering of services Revenue is recognised upon delivery of the service to the client or by reference to the stage of completion of the transaction. Revenues are received in the forms of various registration, examination and licence fees (including Stamp Duty and Third Party Motor Vehicle Insurance). These revenues are received for services provided including undertaking inspections and/or issuing licences associated with the fees. As no part of these charges is refundable, revenues are recognised at the time they are received. Revenues collected from traffic and cannabis infringements are administered on behalf of the Western Australian Police and are recognised when the cash is received. Revenues from the lease of land and rental of buildings are recognised as per the terms of the lease agreement. The revenue from other operating activities including rendering of services and the sale of assets are recognised when the Department has passed control of the goods or other assets or delivery of the service to the customer. Recoups of operating activities are recognised when invoiced. Interest Revenue is recognised as the interest accrues. Service appropriations Service appropriations are recognised as revenues in the period in which the Department gains control of the appropriated funds. The Department gains control of appropriated funds at the time those funds are deposited into the Department’s bank account or credited to the holding account held at Treasury. See note 17 Income from State Government for further detail. 91
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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
Page 42 and 43: 40 Industrial buffers On behalf of
Page 44 and 45: 42 Oakajee port and rail infrastruc
Page 46 and 47: 44 Fremantle Harbours policy In rec
Page 48 and 49: 46 CETO Wave Energy project The Dep
Page 50 and 51: 48 Gnangara sustainability strategy
Page 52 and 53: 50 Indigenous Pastoral Enterprise D
Page 54 and 55: 52 Building a Better Planning Syste
Page 56 and 57: 54 Stirling City Centre In November
Page 58 and 59: 56 Murdoch activity centre The Depa
Page 60 and 61: 58 Significant Issues and Trends Gl
Page 62 and 63: 60 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 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 130 and 131: 128 (vii) Authorisations to expend
Page 132 and 133: 130 38 Financial instruments (conti
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Page 136 and 137: 134 2009 2008 $ 000 $ 000 42 Specia
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140 45 Administered expenses and in
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142 46 Administered assets and liab
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144 Key Performance Indicators Key
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146 Key Performance Indicators Depa
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148 Key Performance Indicators Effe
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154 Key Performance Indicators Key
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156 Key Performance Indicators Time
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158 Key Performance Indicators DPI
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160 Key Performance Indicators Effi
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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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