Territory Stories

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

Details:

Title

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

Other title

Department of Corporate and Information Services annual report 2003 - 2004

Creator

Northern Territory. Department of Corporate and Information Services

Collection

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

Date

2004-10-14

Notes

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

Language

English

Subject

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

Publisher name

Northern Territory Government

Place of publication

Darwin

Series

Department of Corporate and Information Services annual report; Annual report

Volume

2003/2004

File type

application/pdf

ISSN

1835-2332

Use

Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government

License

https://creativecommons.org/licenses/by/4.0

Parent handle

https://hdl.handle.net/10070/231111

Citation address

https://hdl.handle.net/10070/669431

Page content

NT Fleet Financial Statements 170 (n) Employee benefits (continued) Employee benefits expenses in respect of the following categories: o wages and salaries, non-monetary benefits, annual leave, sick leave and other leave entitlements; and o other types of employee benefits are recognised against profits on a net basis in their respective categories. (n) Employee benefits As part of the introduction of Working for Outcomes, the Central Holding Authority assumed the long service leave liabilities of Government GBDs, including NT Fleet. The actual liability was transferred from GBD ledgers during 2002-03. (o) 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. (p) 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, NT Fleet declared a dividend of $2.4M and provision has been made for this amount. The Final Dividend based on 50% of the net profit after tax of $4.874M is $2.439M. This amount will be paid during the next financial Year. (q) Rounding of amounts Amounts in the financial statements and notes to the financial statements have been rounded to the nearest thousand dollars. Accordingly the sum of the individual items may not equal the total. (r) Comparatives Where necessary, comparatives have been reclassified and repositioned for consistency with current year disclosures.