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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




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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 1 ( b ) B A S I S O f A C C O U N T I N G The accrual basis of accounting has been fully employed in the preparation of these financial statem ents which have been prepared under the historical cost basis and do not take into account changes to money values or current valuations of non-current assets except where t stated. 1 ( C) E C O N O M I C D E P E N D E N C E * The Lending Business Division established by the Financial Management Act, is subject to the direction of the Minister. The Lending Business Division is subject to partial funding by an annual appropriation from the Northern Territory Government to meet proposed cash expenditure for both operational and capital items, however for the current financial year ended 30 June 1996 no appropriation was received. These financial statements have been prepared on a going concern basis in the expectation that such funding will be applicable in future years. 1 ( d ) P R O V I S I O N F O R D O U B T F U L D E B T S The collectibility of debts is assessed at year end for current secured home loan debtors and specific provisions are provided for any doubtful accounts. In addition to the above, a 100% provision of unsecured home loan debtors is provided at year end. * A N N U A L R E P O R T 1 9 9 5 - 9 6

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