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Annual report 2003-2004, Department of Corporate and Information Services



Annual report 2003-2004, Department of Corporate and Information Services

Other title

Department of Corporate and Information Services annual report 2003 - 2004


Northern Territory. Department of Corporate and Information Services


E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report




Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).




Northern Territory. Department of Corporate and Information Services -- Periodical

Publisher name

Northern Territory Government

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Department of Corporate and Information Services annual report; Annual report



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Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government



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Data Centre Services Financial Statements 146 (l) Payables Liabilities for trade creditors and other amounts are carried at cost which is the fair value of the consideration to be paid in the future for goods and services received, whether or not billed to the entity. Trade accounts payable are normally settled within 30 days. (m) Employee benefits Provision is made for employee benefits accumulated as a result of employees rendering services up to the reporting date. These benefits include wages and salaries and annual leave. Liabilities arising in respect of wages and salaries and annual leave expected to be settled within twelve months of the reporting date are measured at their nominal amounts based on remuneration rates which are expected to be paid when the liability is settled. No provision is made for sick leave, which is non-vesting, as the anticipated pattern of future sick leave to be taken indicates that accumulated sick leave is unlikely to be paid. Employee benefits expenses in respect of the following categories: - wages and salaries, non-monetary benefits, annual leave, sick leave and other leave entitlements; and - other types of employee benefits are recognised against profits on a net basis in their respective categories. As part of the introduction of Working for Outcomes, the Central Holding Authority assumed the long service leave liabilities of Government GBDs, including Data Centre Services. The actual liability was transferred from GBD ledgers during 2002-03. (n) Superannuation Employees Superannuation entitlements are provided through the NT Government and Public Authorities Superannuation Scheme (NTGPASS), Commonwealth Superannuation Scheme (CSS) and non-government employee nominated schemes for those employees commencing on or after 10 August 1999. The entity makes superannuation contributions on behalf of its employees. Any liability for superannuation is met directly by the NT Government and the entity has and will continue to have no other direct superannuation liability. (o) Dividends The entity has provided for a dividend payable at the rate of 50% of net profit after tax in accordance with the NT Governments dividend policy. At 30 June 2004, DCS declared a dividend of $1.177M and provision has been made for this amount. The Final Dividend based on 50% of the net profit after tax of $2.682M is $1.341M. This amount will be paid during the next financial Year.

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