Territory Stories

Annual Report 2010-2011 Northern Territory Electoral Commission



Annual Report 2010-2011 Northern Territory Electoral Commission

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Tabled paper 1602


Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT




Tabled By Speaker


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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NORTHERN TERRITORY ELECTORAL COMMISSION NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011 39 1. OBJECTIVES AND FUNDING The Northern Territory Electoral Commission (the Commission) was established in March 2004 to support government by providing a fair, impartial and professional electoral service and ensuring there is an opportunity for the people of the Northern Territory to participate in free and democratic elections. The Commission is responsible for conducting elections for the Legislative Assembly, municipal and shire councils (if appointed), and other organisations in an efficient and cost-effective manner, consistent with legislative requirements. 2. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES a) Basis of Accounting 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 the Northern Territory Electoral Commission to prepare financial statements for the year ended 30 June based on the form determined by the Treasurer. The form of Agency 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 and (vi) applicable explanatory notes to the financial statements. 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 the Agency 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.

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