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Annual Report 1995/1996 Northern Territory Housing Commission



Annual Report 1995/1996 Northern Territory Housing Commission

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Tabled Paper 2948


Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT




Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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N O R T H E R N T E R R I T O R Y H O U S I N G C O M M I S S I O N L E N D I N G B U S I N E S S D I V I S I O N N O T E S T O A N D F O R M I N G P A R T O F T H E F I N A N C I A L S T A T E M E N T S f o r t h e y e a r e n d e d 3 0 J u n e 1 9 9 6 % N O T E 1 S U M M A R Y O F S I G N I F I C A N T J A C C O U N T I N G P O L I C I E S 1 ( 0 ) G E N E R A L The principal accounting policies adopted by the Lending Business Division are stated in order to assist in a general understanding of the Financial Statements. These policies have been consistently applied except as otherwise stated. The Financial Statements have been drawn up with the aim of allowing relevant and reliable financial information to be conveyed to external users. The introduction of the Financial Management A ct in April 1995 resulted in the split of the Housing Commission into two separate Government Business Divisions - Housing and Lending. The split was based along functional lines. The Financial Statements have been prepared in accordance with the Financial ManagementAct and applicable accounting standards. Schedule 5 of the Corporations Regulations and Australian Statement o f Accounting Concepts have been referred to for guidance on appropriate disclosure. The split of cash at bank, in the comparative figures, into the two Government Business Divisions has been based on specific advice from Treasury. n Vendor and Shared Equity sales in the Housing Business Division has been financed through the Lending Business Division. A debtor has been disclosed in the Housing Business Division and a creditor has been disclosed in the Lending Business Division to reflect this situation.

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