Department of Construction and Infrastructure annual report 2010-2011
Northern Territory. Department of Construction and Infrastructure
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Northern Territory. Department of Construction and Infrastructur; Public works; Construction industry; Infrastructure (Economics); Periodicals; Annual report
Northern Territory Government
Department of Construction and Infrastructure annual report; Annual Report
Department of Infrastructure
Department of Planning and Infrastructure
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
Department of Construction and Infrastructure Financial Report 2010-2011 76 FOR THE YEAR ENDED 30 JUNE 2011 The accounts to 30 June 2011 for the Department of Construction and Infrastructure have been prepared on an accrual basis in accordance with the requirements of the Financial Management Act and related Treasurers Directions. This requires the preparation and inclusion of a Certification of the Financial Statements, the Comprehensive Operating Statement, Balance Sheet, Statement of Changes in Equity and the Cash Flow Statement. Notes to the Financial Statements provide further clarification of accounting methodologies. The Department of Construction and Infrastructure was created as a result of the Administrative Arrangement Orders issued on the 4th December 2009, and hence, this is the first time that financial comparatives are available. Please note that the financial restructure required a significant downward adjustment to Asset Revaluation Reserves of $1.438B in 2010. Comprehensive Operating Statement 2010 $000 2011 $000 Variance $000 Income 23,608 28,700 5,092 Expenses 25,016 29,373 4,357 Net Surplus/(Deficit) (1,408) (673) 735 Asset Revaluation Reserve (1,438,326) 5,459 1,443,785 Comprehensive Result (1,439,734) 4,786 1,444,520 The Department of Construction and Infrastructure recorded a net deficit of $673,000 for the financial year ended 30 June 2011. Excluding depreciation a non cash items of $803,000 there was a surplus of $130,000. FINANCIAL STATEMENT OVERVIEW Revenue Revenue increased by $5.09M in 2011 mainly due to an increase in Capital Works projects. Revenue consisted of the Parliamentary Appropriation of $17.87M, the Sale of Goods and Services of $9.09M, Goods and Services Received Free of Charge of $1.56M and Other Income of $176,000. The comparison of Asset Revaluation Reserves reflects the transfer of assets in the 2010 financial year from the former Department of Planning and Infrastructure to the newly created Department of Construction and Infrastructure. Other Comprehensive Income of $5.45M in 2011 was predominately derived by the positive revaluation of the Chan Building in Darwin by the Northern Territory Valuer General. Revenue Source $M
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