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Annual Report 1992-1993 Northern Territory Liquor Commission



Annual Report 1992-1993 Northern Territory Liquor Commission

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Tabled Paper 1759


Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT






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Northern Territory Liquor Commission NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS 30 JUNE 1993 (g) Superannuation Fund Staff members of the Commission are covered by the Northern Territory Government and Public Authorities Superannuation Scheme (NTGPASS). Accordingly, the Commission does not make any contribution to the scheme. (h) Insurance The Commission took up a number of commercial insurance agreements to provide adequate cover for certain risks. However, there are risks associated with some assets that are not insured, to the greatest extent possible, the Commission acts as its own insurer in respect of these assets. (i) Economic Dependence The Commission is funded predominantly by annual appropriation. The Northern Territory Government funds the shortfall between expected cash expenditure and internally generated revenue in the current financial year. These financial statements have been prepared on a going concern basis in the expectation that such funding will continue. NOTE 2: OPERATING REVENUE 1993 $ 1992 $ Operating Revenue consists of: NT Government Appropriation 1 612 200 1 515 000 Transfer of funds from the former Racing, Gaming and Liquor Commission 35 788 Proceeds on disposal of non-current assets 67 330 33 000 Other revenue 1 310 5 129 1 680 840 1 588 917 Annual Report 1993 Page 28

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