AnnuAl REPORT 2011-2012 - Sbs

In 2012, in line with Government policy to fund only amounts
required for the conversion to digital transmission, an amount
of $0.539m (2011: $2.153m) was recognised as unearned
revenue from Government – see Notes 5 and 9(b)(i).
Amounts received as equity injections are recognised
as increases in “Contributed Equity”. All equity injections
have been fully drawn down. Loans received from
Government are recognised as increases in borrowings
when received – see Note 10(a).
Resources received free of charge
Services received free of charge are recognised as
revenues where their fair value can be reliably measured.
Use of the resources is recognised as an expense. In 2012
no resources were provided free of charge (2011: Nil).
Parental Leave Payments Scheme
Amounts received under the Parent Leave Payments
Scheme by the Corporation, but not yet paid to
employees, are presented as cash and a liability (payable).
The Scheme came into effect on 1 January 2011. In 2012
an amount of $0.072m was received under the Scheme
by the Corporation (2011: Nil).
(g) gains
Gains from the disposal of assets are recognised when
control of the asset has passed to the buyer.
(h) transactions with the government as owner
Equity Injections
Amounts appropriated by Parliament as equity injections
are recognised directly as contributed equity in that year.
Other Distributions to Owners
The FMOs require that distributions to owners be debited
to contributed equity unless it is in the nature of a dividend.
(i) Other transactions with government
Some special purpose funding from Government is
recognised as revenue only when the related expenditure is
incurred. In 2000, the Corporation received $70.000 million
from the TV Fund and $3.400 million (from Government
appropriation) to provide analogue extensions to regional
Australia in future years. In 2005, the Corporation received
a further $4.606 million to extend analogue services to
regions with a population of 3,000 to 5,000, and also
received $0.125 million under the Commonwealth’s
Television Black Spots – Alternative Technical Solutions
Program. An additional amount of $0.125 million was
received in 2008 under the Commonwealth’s Television
Black Spots – Alternative Technical Solutions Program.
The amounts received, including interest accrued on
these amounts, are recognised as revenue when related
expenditure is incurred. Refer to Note 4(c).
(j) employee benefits
Liabilities for services rendered by employees are
recognised at the 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 expected to be settled within
twelve months 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 benefits 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.
(i) Provision for long service leave
The liability for long service leave has been determined
by reference to the work of 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. Amounts for which the
Corporation expects to have no unconditional right to
defer settlement within twelve months are shown as a
current liability.
(ii) Provision for annual leave
Provision is made for the value of benefits accrued as
at reporting date and includes the annual leave bonus
component payable in accordance with the SBS Award.
The amounts expected to be payable within twelve
months are shown as a current liability, and measured at
their nominal amounts. No annual leave benefit has been
assessed as payable after twelve months.
(iii) Provision for separation and redundancy
Provision is made for separation and redundancy
payments, in line with formal plans for the terminations,
which can be reliably measured. At 30 June 2012, the
Corporation recognised a provision of $3.027m (2011:
$1.692m). When applicable, the Corporation formally
identifies the terminations and informed those employees
affected that it will carry out the terminations. The
provision does not include long service leave or annual
leave paid on termination. These are included in the
respective provision.
AnnuAl RepoRt 2011 – 2012 81