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Schedule of Liabilities

as at 30 June 2014

The Schedule of Liabilities summarises the liabilities that the Department administers on behalf of the Crown.

2013
Actual
$000
Note 2014
Actual
$000
2014
Main Estimates
$000
2014
Supp. Estimates Voted
$000

Current liabilities

   
5,086,000 Crown balances with Westpac   5,174,000 4,575,000 4,772,000
141,435 Payables and accrued expenses   147,712 17,197 17,197
6,290,000 Borrowings 23(c) 15,096,000 18,152,000 15,256,000
26,363 Deferred revenue 2(c) 2,192 2,195 2,195
750,000 GSF unfunded liability 7 724,000 734,944 740,162
95 Guarantee scheme payable 2(a) 95 - -
1,173 Insurance premiums received in advance 20 1,144 770 770
186 Derivatives in loss   1 34 34
394,254 Other provisions 20, 26 403,231 395,396 349,717
21,447 Loyalty Bonus Scheme liability related to Initial Public Offers 17 43,582 21,447 48,870
12,689,506 Total current liabilities    21,591,957 23,877,536 21,138,075

Non-current liabilities

   
72,980,000 Borrowings 23(c) 66,985,000 68,138,000 65,733,000
2,193 Deferred revenue 2(c) - - -
675 Insurance premiums received in advance 20 517 570 570
11,158,675 GSF unfunded liability 7 10,162,730 11,031,889 9,997,411
977,224 NPF DBP(A) Scheme unfunded provision 18 909,759 986,707 986,707
85,140,214 Total non-current liabilities   78,058,003 80,178,613 76,766,558
97,829,720 Total non-departmental liabilities   99,649,960 104,056,149 97,904,633

The Statement of Accounting Policies is an integral part of these supplementary financial schedules.

For a full understanding of the Crown's financial position and the result of its operations for the year, refer to the consolidated Financial Statements of the Government for the year ended 30 June 2014.

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