Territory Stories

Department of Corporate and Information Services annual report 2016-17

Details:

Title

Department of Corporate and Information Services annual report 2016-17

Creator

Northern Territory. Department of Corporate and Information Services

Collection

E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report

Date

2017

Notes

Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Northern Territory. Department of Corporate and Information Services -- Periodical

Publisher name

Northern Territory Government

Place of publication

Darwin

Series

Department of Corporate and Information Services annual report; Annual report

Volume

2016/2017

File type

application/pdf

ISSN

1835-2332

Use

Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government

License

https://creativecommons.org/licenses/by/4.0

Parent handle

https://hdl.handle.net/10070/304926

Citation address

https://hdl.handle.net/10070/361114

Page content

Annual Report 2016-17 | Department of Corporate and Information Services120 D EPARTM EN T O F CO R PO RATE AN D IN FO R M ATIO N SERVICES - FIN AN CIAL R EPO RT 1. Objectives and Funding The objective of the Department of Corporate and Information Services (DCIS) is to provide cost effective shared financial and human resource administration, procurement, information technology management, property leasing and project services to government. DCIS is predominantly funded by, and is dependent on the receipt of Parliamentary appropriations. The financial statements encompass all funds through which DCIS controls resources to carry on its functions and deliver outputs. Note 3 provides summary financial information in the form of an Operating Statement by output group. DCIS has three output groups with 10 outputs: SHARED SERVICES Finance Services Human Resource Services Contract Services Information and Communications Technology Services Property Leasing Services Asset Services Project Services DIGITAL GOVERNMENT Digital Government CORPORATE AND GOVERNANCE Corporate and Governance Shared Services Provided Detailed information about these outputs can be found within the annual report. 2. Statement of Significant Accounting Policies a) STATEMENT OF COMPLIANCE The financial statements have been prepared in accordance with the requirements of the Financial Management Act and related Treasurers Directions. The Financial Management Act requires DCIS to prepare financial statements for the year ended 30 June based on the form determined by the Treasurer. The form of DCIS financial statements is to include: (i) a Certification of the Financial Statements (ii) a Comprehensive Operating Statement (iii) a Balance Sheet (iv) a Statement of Changes in Equity (v) a Cash Flow Statement (vi) Applicable explanatory notes to the financial statements. b) BASIS OF ACCOUNTING The financial statements have been prepared using the accrual basis of accounting, which recognises the effect of financial transactions and events when they occur, rather than when cash is paid out or received. As part of the preparation of the financial statements, all intra-agency transactions and balances have been eliminated. Except where stated, the financial statements have also been prepared in accordance with the historical cost convention. The form of DCIS financial statements is also consistent with the requirements of Australian Accounting Standards. The effects of all relevant new and revised Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) that are effective for the current annual reporting period have been evaluated. New and Revised Accounting Standards The following new and revised accounting standards and interpretations were effective for the first time in 2016-17. AASB 124 Related Party Disclosures This standard applies to the not-for-profit sector for the first time in 2016-17. The accounting standard requires disclosures about the remuneration of key management personnel, transactions with related parties, and relationships between parent and controlled entities. For any such transactions, disclosures will include the nature of


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