Territory Stories

Northern Territory Treasury annual report 2005-2006

Details:

Title

Northern Territory Treasury annual report 2005-2006

Collection

Department of Treasury and Finance reports; Reports; PublicationNT

Date

2006

Description

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Northern Territory. Dept. of the Treasury -- Periodicals; Finance, Public -- Northern Territory -- Periodicals; Northern Territory -- Appropriations and expenditures -- Periodicals

Publisher name

Northern Territory Treasury

Place of publication

Darwin

ISSN

0729-1442

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/230906

Citation address

https://hdl.handle.net/10070/669993

Page content

122 Annual Report 2005-06 Notes to the Financial Statements For the year ended 30 June 2006 2006 2005 9. Superannuation Liability (continued) $000 $000 Balance sheet amounts The amounts recognised in the balance sheet are determined as follows: Total defined benefit obligations 1 821 792 1 805 129 Scheme assets 48 596 43 620 Deficit 1 773 196 1 761 509 Current net liability 108 899 98 592 Non-current net liability 1 664 297 1 662 917 Net liability 1 773 196 1 761 509 Movement in net liability Net liability in balance sheet at end of prior year 1 761 509 1 466 910 Expense recognised in income statement 111 496 386 730 Benefits paid -99 400 -92 400 Other - 409 269 Net liability in balance sheet at end of year 1 773 196 1 761 509 Plan assets The major categories of plan assets are as follows: Investment trust 47 705 42 820 Other 891 800 Total 48 596 43 620 Funded status Defined benefit obligations: Funded 48 596 43 620 Unfunded 1 773 196 1 761 509 Total 1 821 792 1 805 129 Income statement The amounts recognised in the income statement are as follows: Interest cost 96 103 87 900 Net actuarial losses(+)/(-)gains recognised in year -55 600 225 700 Past service cost 70 993 73 130 Total included in superannuation expense (*) 111 496 386 730 * 2005 balance of $386.7 million includes an adjustment resulting from the transition to Australian Equivalent to IFRS of $143 million.


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