Department of Education

(b) Reconciliation with Tasmanian Academy and Tasmanian Polytechnic financial statements as at
2011
$’000
Tasmanian
Academy
2011
$’000
Tasmanian
Polytechnic
2011
$’000
Total
Assets
Financial assets
Cash and deposits (2,667) 4,082 1,415
Receivables 24 772 796
Non-financial assets
Plant and equipment 224 9,190 9,414
Land and buildings 1 491 260,648 261,139
Other 57 1,507 1,564
Total assets relinquished (1,871) 276,199 274,328
Liabilities
Payables 51 1,989 2,040
Employee benefits 4,665 16,899 21,564
Other liabilities 342 2,009 2,351
Total liabilities 5,058 20,897 25,955
Net contribution by the government as owner during
the period
(6,929) 255,302 248,373
Explanation of variances between table (a) and (b)
1. The variance is a result of:
a. The valuation and adjustment to useful life of land and buildings as at 1 January 2011
b. The transfer of three campuses directly to the Tasmanian Skills Institute
c. The transfer of the one campus at South Burnie to the Tasmanian Skills Institute which was not recorded on the Polytechnic’s books
d. The transfer of the Newstead student residence and the Elizabeth College science block were transferred to Tasmanian Polytechnic on
1 July 2010 subsequently transferred back to the department on 1 January 2011.
Note 13: Cash flow reconciliation
13.1
Cash and
deposits
Cash and deposits includes the balance of the Special Deposits and Trust Fund held by the department, and other
cash held, excluding those accounts which are administered or held in a trustee capacity or agency arrangement.
2011
$’000
2010
$’000
Special Deposits and Trust Fund balance
T511 – Department of Education Operating Account 9,187 16,649
T648 – Library Fines Account 12 43
Total 9,199 16,692
Other cash held
School bank accounts 43,299 46,200
Tasmanian Polytechnic 6,297 –
Tasmanian Academy 1,045 –
Other bank accounts 589 342
Cash floats 118 81
Total 51,348 46,623
Total cash and deposits 60,547 63,315
2011
$’000
2010
$’000
Cash and deposits (as per Statement of Financial Position) 60,547 63,315
Total cash and cash equivalents 60,547 63,315
The definition of cash can be found at Note 2.13(a).
118
Financial Statements – Notes