Annual Report 2016-2017 Department of the Legislative Assembly
Tabled paper 405
Tabled Papers for 13th Assembly 2016 - 2020; Tabled Papers; ParliamentNT
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DEPARTMENT OF THE LEGISLATIVE ASSEMBLY NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 DLA Annual Report 2016-17 Page 59 iv) Related party transactions: Transactions with Northern Territory Government controlled entities The departments primary ongoing source of funding is received from the Central Holding Authority in the form of output and capital appropriation and on-passed Commonwealth national partnership and specific purpose payments. The following table provides quantitative information about related party transactions entered into during the year with all other Northern Territory Government controlled entities. Related Party Revenue from related parties Payments to related parties Amounts owed by related parties Amounts owed to related parties Year Year Year Year $000 $000 $000 $000 All NTG Government departments - - - - Associates - - - - Subsidiaries - - - - The departments transactions with other government entities are not individually significant. Other related party transactions are as follows: Given the breath and depth of Territory Government activities, related parties will transact with the Territory Public sector in a manner consistent with other members of the public including paying stamp duty and other government fees and charges and therefore these transactions have not been disclosed. Additionally, there were no related party transactions in excess of $10,000. 23. CONTINGENT LIABILITIES AND CONTINGENT ASSETS The Department of the Legislative Assembly had no contingent liabilities or contingent assets as at 30 June 2017 or 30 June 2016. 24. EVENTS SUBSEQUENT TO BALANCE DATE No events have arisen between the end of the financial year and the date of this report that require adjustment to, or disclosure in these financial statements. 25. ACCOUNTABLE OFFICERS TRUST ACCOUNT In accordance with section 7 of the Financial Management Act, an Accountable Officers Trust Account has been established for the receipt of money to be held in trust. A summary of activity is shown below: Nature of Trust Money Opening Balance Receipts Payments Closing Balance 1 July 2016 30 June 2017 Gym Locker Deposit 1 0