ComSuper
Agency Resources and Planned
Performance
COMSUPER
Section 1: Agency Overview and Resources ......................................................... 123
1.1
Strategic Direction Statement ....................................................................... 123
1.2
Agency Resource Statement ........................................................................ 125
1.3
Budget Measures .......................................................................................... 126
Section 2: Outcomes and Planned Performance ................................................... 127
2.1
Outcomes and Performance Information...................................................... 127
Section 3: Explanatory Tables and Budgeted Financial Statements................... 133
3.1
Explanatory Tables ....................................................................................... 133
3.2
Budgeted Financial Statements .................................................................... 135
121
COMSUPER
Section 1: Agency Overview and Resources
1.1
STRATEGIC DIRECTION STATEMENT
ComSuper is a prescribed agency under Section 5 of the Financial Management and
Accountability Act 1997 and administers the Australian Government sponsored
superannuation schemes which apply to current and former Australian Public
Servants and Australian Defence Force members.
In accordance with the ComSuper Act 2011 the CEO of ComSuper, under the direction
of the Commonwealth Superannuation Corporation, is tasked to provide
administration services for the following schemes:








Commonwealth Superannuation Scheme (CSS) under the Superannuation Act 1976
Public Sector Superannuation (PSS) scheme under the Superannuation Act 1990
Public Sector Superannuation accumulation plan (PSSap) under the Superannuation
Act 2005
Defence Force Retirement Benefits (DFRB) Scheme under the Defence Forces
Retirement Benefits Act 1948
Defence Force Retirement and Death Benefits (DFRDB) Scheme under the Defence
Force Retirement and Death Benefits Act 1973
Military Superannuation and Benefits Scheme (MSBS) under the Military
Superannuation and Benefits Act 1991
Papua New Guinea (PNG) Scheme under the Papua New Guinea (Staffing
Assistance) Act 1973
1922 Scheme under the Superannuation Act 1922.
For the purposes of the Portfolio Budget Statements, ComSuper's operations have a
single outcome, which is “Provide access to Australian Government superannuation benefits
and information, through developing members’ understanding of the schemes, processing
contributions, supporting investment processes, paying benefits and managing member details,
for current and former Australian Public Servants and members of the Australian Defence
Force, on behalf of the Commonwealth Superannuation Corporation”.
ComSuper receives revenue through fees paid quarterly by Australian Government
agencies, including the Department of Defence and some agencies with residual
membership in the schemes, such as the Northern Territory and Australian Capital
Territory governments. All ComSuper fee revenue is managed through a Special
Account.
123
ComSuper Budget Statements
Superannuation Administration Reform Program
The Superannuation Administration Reform (SAR) Program was established in 2009 to
address a range of issues identified in a review of administration and governance
arrangements for the main Commonwealth superannuation schemes.
The SAR Program has made excellent progress against its objectives. A major upgrade
in ComSuper’s disaster recovery capability and IT infrastructure has been completed
and tested. The day-to-day administration of the PSSap scheme was successfully
outsourced to Pillar Administration from February 2012. ComSuper retains overall
responsibility for the scheme and some residual functions.
Work continues on the other elements of the SAR Program, especially improving data
quality including through system enhancements, and changing processing and
organisational arrangements to increase efficiency and reduce the risk of error.
124
ComSuper Budget Statements
1.2
AGENCY RESOURCE STATEMENT
Table 1.1 shows the total resources from all sources. The table summarises how
resources will be applied by outcome and by administered and departmental
classification.
Table 1.1: ComSuper Resource Statement — Budget
Estimates for 2012-13 as at Budget May 2012
Estimate
of prior
year amounts
available in
2012-13
$'000
Special appropriations
Special appropriations lim ited
by criteria/entitlem ent
Superannuation Legislation (Consequential
Amendments and Transitional Provisions)
Act 2011 - section 26 (2)
Total special appropriations
A
Total appropriations excluding
Special Accounts
Special Accounts
Opening balance 1
Special Appropriation receipts 2
Special Accounts 3
Total Special Account
B
Total
estimate
Actual
available
appropriation
2012-13
$'000
2012-13
$'000
2011-12
$'000
-
-
-
918
918
32,135
32,135
1,324,228
1,324,228
32,135
1,324,228
1,356,363
27,949
918
1,314,093
1,342,960
1,324,228
1,356,363
1,343,878
1,324,228
1,356,363
(918)
1,342,960
Total resourcing
A+B
32,135
Less appropriations draw n from
annual or special appropriations above
and credited to special accounts
Total net resourcing for Com Super
32,135
1 Estimated adjusted balance carried forward from previous year.
+
Proposed
at Budget
=
2
Special Appropriation to transfer monies held on behalf of MSB Board to Commonwealth
Superannuation Corporation.
3
Includes operational funding for ComSuper and funded components transferred from Trustee Accounts
to Consolidated Revenue.
125
ComSuper Budget Statements
Third party payments from and on behalf of other agencies
2012-13
$'000
2011-12
$'000
Payments made on behalf of other agencies
(disclosed in the respective Agency Resource Statement)
ComSuper makes entitlement payments by draw ing dow n on the follow ing
Finance Superannuation Special Appropriations:
Superannuation Act 1922
Superannuation Act 1976
Superannuation Act 1990
Superannuation Act 2005
Same-Sex Relationships Act 2008
(Equal Treatment in Commonw ealth Law s - Superannuation)
49,001
3,415,480
3,249,020
200
49,142
3,315,348
2,961,377
100
61
159
Defence Superannuation Special Appropriations:
Defence Forces Retirement Benefits Act 1948
Defence Force Retirement and Death Benefits Act 1973
Military Superannuation and Benefits Act 1991
56,717
1,479,352
315,662
59,127
1,452,939
274,379
ComSuper makes Legal and Compensation payments
by draw ing on the follow ing Finance Annual Appropriations
Appropriation Act 1 1
Appropriation Act 1 2
Appropriation Act 2 2
500
650
959
500
626
924
9,049
9,697
PNG Schem e
AusAid Administered Appropriation Act 1
1 Compensation and Legal Payments.
2
Act of Grace Payments.
1.3
BUDGET MEASURES
There are no budget measures in 2012-2013 for ComSuper.
126
ComSuper Budget Statements
Section 2: Outcomes and Planned Performance
2.1
OUTCOMES AND PERFORMANCE INFORMATION
Government outcomes are the intended results, impacts or consequences of actions by
the Australian Government on the Australian community. Commonwealth programs
are the primary vehicle by which government agencies achieve the intended results of
their outcome statements. Agencies are required to identify the programs which
contribute to Government outcomes over the Budget and forward years.
Each outcome is described below together with its related programs, specifying the
performance indicators and targets used to assess and monitor the performance of
ComSuper in achieving Government outcomes.
Outcome 1: Provide access to Australian Government superannuation
benefits and information, through developing members’ understanding of the
schemes, processing contributions, supporting investment processes, paying
benefits and managing member details, for current and former Australian
Public Servants and members of the Australian Defence Force, on behalf of
the Commonwealth Superannuation Corporation.
Outcome 1 Strategy
ComSuper’s purpose is to provide superannuation administration services through
three core functions: collect timely contributions; maintain accurate records; and pay
correct benefits, including pensions. ComSuper has a mutual obligation to ensure that
everything it does aligns with one or more of these areas. This enables ComSuper to
secure high quality outcomes for all their stakeholders.
127
ComSuper Budget Statements
Outcome Expense Statement
Table 2.1 provides an overview of the total expenses for the Outcome, by program.
Table 2.1: Budgeted Expenses for Outcome 1
Outcom e 1: Provide access to Australian Governm ent
superannuation benefits and inform ation, through
developing m em bers' understanding of the schem es,
processing contributions, supporting investm ent processes,
paying benefits and m anaging m em ber details, for current
and form er Australian Public Servants and m em bers of
the Australian Defence Force, on behalf of the
Com m onw ealth Superannuation Corporation.
Program 1.1 Superannuation Adm inistration Services
Departmental expenses
Special Accounts
Expenses not requiring appropriation in the Budget year 1
Total for Program 1.1
Total expenses for Outcom e 1
2011-12
Estimated
actual
expenses
$'000
2012-13
Estimated
expenses
79,643
91
73,237
91
79,734
73,328
79,734
2011-12
Average Staffing Level (num ber) 2
471
1 Expenses not requiring appropriation in the Budget year are made up of resources received free of
charge for a notional Audit Fee from the Australian National Audit Office.
2
The above ASL figures do not include additional funding for the SAR program in 2012-13.
128
$'000
73,328
2012-13
425
ComSuper Budget Statements
Contributions to Outcome 1
Program 1.1: Superannuation Administration Services
Program objective

Provide access to Australian Government superannuation benefits and
information, through developing members’ understanding of the schemes,
processing contributions, supporting investment processes, paying benefits and
managing member details, for current and former Australian Public Servants
and members of the Australian Defence Force, on behalf of the Commonwealth
Superannuation Corporation (CSC).
Program expenses

As the closed defined benefits schemes decrease in membership over time, there
will be a corresponding decrease in revenue from this area. This will require
careful cost management and a strong focus on improving overall operational
efficiency. Costs associated with the outsourced administration of the PSSap
scheme will also need to be carefully managed.
Program 1.1: Superannuation Administration Services
Special Account Expenses:
ComSuper Special Account
Expenses not requiring appropriation in
the Budget year 1
Total program expenses
1
2011-12
Revised
budget
$'000
2012-13
Budget
$'000
2013-14
Forw ard
year 1
$'000
2014-15
Forw ard
year 2
$'000
2015-16
Forw ard
year 3
$'000
79,643
73,237
74,514
75,197
76,127
91
79,734
91
73,328
92
74,606
93
75,290
94
76,221
Expenses not requiring appropriation in the Budget year are made up of resources received free of
charge for a notional Audit Fee from the Australian National Audit Office.
129
ComSuper Budget Statements
Program 1.1 Deliverables
ComSuper’s service delivery requirements are driven by:

legislative change;

demand by scheme members and employing agencies;

the CSC and regulators; and

the portfolio agencies responsible for the schemes’ policies and framework.
The services ComSuper provides include:

managing the superannuation records and financial transactions, including
investment switches, of members including contributor, preserved and
pensioner members and ancillaries (e.g. ex-spouses);

calculating benefit estimates and paying superannuation benefits to members
(e.g. fortnightly pensions and lump sum payments or transfers out to other
schemes);

responding to member inquiries (e.g. inquiries received through the Customer
Information Centre and via email, telephone and written correspondence);

providing annual member statements to contributor and preserved members
and payment summaries to pensioners;

assisting the CSC with financial statements and other general accounting
services;

providing legal, governance and compliance services;

providing casework services, including eligibility determination, death and
invalidity, early release, and review/reconsideration;

implementing Family Law Court determinations for splitting superannuation
benefits;

supporting CSC through the provision of reports and responding to information
requests;

provision of communication products for scheme members, encompassing
websites, publications and annual reports; and

contract management of the day-to-day administration of the PSSap scheme.
130
ComSuper Budget Statements
Program Deliverables
2011-12
Revised
budget
2012-13
Budget
2013-14
Forw ard
year 1
2014-15
Forw ard
year 2
2015-16
Forw ard
year 3
707,700
716,000
727,500
738,900
750,300
28,600
28,800
29,100
29,300
29,500
Accurate and timely fortnightly pension
payments
(Number of pensioners)
207,200
210,100
213,000
215,900
218,800
Timely responses to inquiries by scheme
members
(Number of telephone, e-mail and w ritten
inquiries through customer information
centre)
345,500
352,400
359,500
366,600
374,000
Provide annual member statements to
contributor and preserved members
(Number of annual statements issued)
500,500
505,900
514,600
523,000
531,500
5
5
5
5
5
Maintain records and financial transactions
for the schemes’ membership
(Total number of contributor, preserved and
pensioner members)
Accurate and timely payment of benefits to
scheme members
(Benefit applications processed)
ComSuper w ill seek to comply w ith all
scheme and regulatory requirements
(Number of main schemes administered by
ComSuper)
131
ComSuper Budget Statements
Program 1.1 Key Performance Indicators
2011-12
Revised
budget
Achievement of service standards 1
(Proportion of standards achieved)
2012-13
Budget
target
2013-14
Forw ard
year 1
2014-15
Forw ard
year 2
2015-16
Forw ard
year 3
80%
80%
80%
80%
80%
80% or
Higher
80% or
Higher
80% or
Higher
80% or
Higher
80% or
Higher
100%
100%
100%
100%
100%
85%
85%
85%
85%
85%
Timeliness of fortnightly pension payroll
(Pension payments in bank accounts on time)
99.5%
99.5%
99.5%
99.5%
99.5%
Compliance issues appropriately reported and
actively managed
(Issues reported and managed)
100%
100%
100%
100%
100%
Periodic member client satisfaction survey
(Quality Service Index)
2
Timeliness of member statements
(Issued by the statutory deadline of 31st
December)
Timeliness of new benefits processed 3
(Routine Benefit Payments w ithin 5 w orking
days)
1
Pillar Administration has been granted an exemption from meeting the required service level standards for the
PSSap scheme administration for the first six months of outsourcing from February 2012. This may impact
overall service level standards.
2
A Quality Service Index rating of 75% is equivalent to every respondent being ‘satisfied’ with the service,
whereas a rating of 100% is equivalent to every respondent being ‘very satisfied’ with the service. Traditionally,
members' satisfaction for administration services is linked to their perceived performance of their investments,
particularly during times of market volatility.
3
The calculation method for the KPI, timeliness of new benefit processed, refers to the processing of routine
benefits, rather than the payment of all benefits. This reflects the fact that some benefits involve highly complex
processes that are unable to be completed and paid within 5 working days. Routine benefits are processed
within 5 working days of receipt of all necessary documentation.
132
ComSuper Budget Statements
Section 3: Explanatory Tables and Budgeted Financial
Statements
Section 3 presents explanatory tables and budgeted financial statements which provide
a comprehensive snapshot of agency finances for the 2012-13 budget year. It explains
how budget plans are incorporated into the financial statements and provides further
details of the reconciliation between appropriations and program expenses,
movements in administered funds, special accounts and Australian Government
Indigenous Expenditure.
3.1
EXPLANATORY TABLES
3.1.1 Movement of Administered Funds Between Years
Table 3.1.1 is not included as there is no movement of administered funds between
years.
3.1.2 Special Accounts
Special Accounts provide a means to set aside and record amounts used for specified
purposes. Special Accounts can be created by a Finance Minister’s Determination
under the FMA Act or under separate enabling legislation. Table 3.1.2 shows the
expected additions (receipts) and reductions (payments) for each account used by
ComSuper.
133
ComSuper Budget Statements
Table 3.1.2: Estimates of Special Account Flows and Balances
Opening
balance
2012-13
2011-12
Outcome
$'000
Services for Other Government
1
and Non Agency Bodies 1
- S20 FMA Act (A) (Abolished)
132
Other Trust Monies 2
1
- S20 FMA Act (A) (Abolished)
6,475
Commonw ealth Superannuation
1
Administration Special Account 3
- S20 FMA Act (D) (Abolished)
21,342
Services for Other Entities and
1
7,265
Trust Moneys 4 - s20 FMA Act (A)
ComSuper Special Account 5
1
24,870
- s21 FMA Act (D)
-
1,242,182
1,229,883
82,046
85,128
(1,241,518)
(1,229,225)
(85,699)
(81,600)
Total Special Accounts
2012-13 Budget estim ate
32,135
1,324,228
(1,327,217)
-
29,146
Total Special Accounts
2011-12 estimate actual
27,949
1,315,011
(1,310,825)
-
32,135
Receipts
2012-13
2011-12
$'000
-
Payments Adjustments
2012-13
2012-13
2011-12
2011-12
$'000
$'000
-
(132)
(6,475)
-
(21,342)
6,607
21,342
7,929
7,265
21,217
24,870
1
This special account was abolished by FMA Determination 2011/01 and rolled into “Services for Other Entities
and Trust Moneys”.
2
This special account was abolished by FMA Determination 2011/01 and rolled into “Services for Other Entities
and Trust Moneys”.
3
This special account was abolished by FMA Determination 2011/15 and rolled into “ComSuper Special
Account”.
4
This special account was established by FMA Determination 2011/06.
5
This special account was established by the ComSuper Act 2011.
(A) = Administered
(D) = Departmental
3.1.3 Australian Government Indigenous Expenditure
Table 3.1.3 is not included as ComSuper’s budget does not contain any specific
Australian Government Indigenous Expenditure.
134
Closing
balance
2012-13
2011-12
$'000
ComSuper Budget Statements
3.2
BUDGETED FINANCIAL STATEMENTS
3.2.1 Differences in Agency Resourcing and Financial Statements
No material differences exist between agency resourcing and the financial statements.
3.2.2 Analysis of Budgeted Financial Statements
ComSuper is projecting a surplus of $8.9 million in 2012-13 with estimated total
income of $82.1 million against estimated expenses of $73.2 million. The surplus is due
to savings measures announced in the 2009-10 additional estimates related to Rental
and Superannuation Administration Reform savings.
It is intended that the savings will be returned to the Australian Government. The
surplus in 2012-13 and the subsequent forward years are not included in ComSuper’s
Special Account balance.
135
ComSuper Budget Statements
3.2.3 Budgeted Financial Statements Tables
Table 3.2.1 Departmental Comprehensive Income Statement
(Showing Net Cost of Services) (for the period ended 30 June)
Estimated
actual
2011-12
$'000
Budget
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
Forw ard
estimate
2015-16
$'000
EXPENSES
Employee benefits
Suppliers
Depreciation and amortisation
Finance costs
Other expenses
Total expenses
43,003
24,115
6,465
162
5,898
79,643
37,372
23,165
6,529
131
6,040
73,237
37,168
24,508
6,587
95
6,156
74,514
36,275
25,938
6,639
57
6,288
75,197
37,056
26,022
6,665
15
6,369
76,127
LESS:
OWN-SOURCE INCOME
Ow n-source revenue
Sale of goods and rendering of services
Total ow n-source revenue
84,210
84,210
82,046
82,046
82,722
82,722
83,404
83,404
84,333
84,333
Gains
Other
Total gains
Total ow n-source incom e
91
91
84,301
91
91
82,137
92
92
82,814
93
93
83,497
94
94
84,427
Net cost of (contribution by)
services
4,658
8,900*
8,300*
8,300*
8,300*
Surplus (Deficit) attributable to
the Australian Governm ent 1
4,658
8,900
8,300
8,300
8,300
4,658
8,900
8,300
8,300
8,300
Total com prehensive incom e (loss)
attributable to the Australian
Governm ent
Prepared on Australian Accounting Standards basis.
1
The budgeted surpluses are to be returned to the Australian Government. Please refer to Table 3.2.3
Statement of Changes in Equity.
136
ComSuper Budget Statements
Table 3.2.2: Budgeted Departmental Balance Sheet
(as at 30 June)
Estimated
actual
2011-12
$'000
Budget
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
Forw ard
estimate
2015-16
$'000
ASSETS
Financial assets
Cash and cash equivalents
Trade and other receivables
Total financial assets
1,000
27,368
28,368
1,000
23,715
24,715
1,000
19,976
20,976
1,000
19,151
20,151
1,000
18,882
19,882
Non-financial assets
Land and buildings
Property, plant and equipment
Intangibles
Other non-financial assets
Total non-financial assets
Total assets
1,617
2,755
9,787
1,307
15,466
43,834
1,617
5,098
10,453
1,307
18,475
43,190
1,617
7,431
11,155
1,307
21,510
42,486
1,617
7,431
11,212
1,307
21,567
41,718
1,617
7,431
11,212
1,307
21,567
41,449
4,730
40
4,770
4,730
40
4,770
4,730
40
4,770
4,730
40
4,770
4,730
40
4,770
Provisions
Employee provisions
Other provisions
Total provisions
11,608
2,450
14,058
11,608
1,806
13,414
11,608
1,102
12,710
11,608
334
11,942
11,608
65
11,673
Total liabilities
18,828
18,184
17,480
16,712
16,443
25,006
25,006
25,006
25,006
25,006
10,683
551
13,772
10,683
551
13,772
10,683
551
13,772
10,683
551
13,772
10,683
551
13,772
25,006
25,006
25,006
25,006
25,006
25,006
25,006
25,006
25,006
25,006
LIABILITIES
Payables
Suppliers
Other payables
Total payables
Net assets
EQUITY 1
Parent entity interest
Contributed equity
Reserves
Retained surplus
(accumulated deficit)
Total parent entity interest
Total Equity
Prepared on Australian Accounting Standards basis.
1
'Equity' is the residual interest in assets after deduction of liabilities.
137
ComSuper Budget Statements
Table 3.2.3: Budgeted Departmental Statement of Changes in Equity — Summary
of Movement (Budget year 2012-13)
Retained
Asset Contributed
earnings revaluation
equity/
reserve
capital
$'000
$'000
$'000
Opening balance as at 1 July 2012
Balance carried forw ard from
previous period
Adjusted opening balance
Total
equity
$'000
13,772
13,772
551
551
10,683
10,683
25,006
25,006
Surplus (deficit) for the period
8,900
-
-
8,900
Total com prehensive incom e
8,900
-
-
8,900
(8,900)
-
-
(8,900)
(8,900)
-
-
(8,900)
551
10,683
Com prehensive incom e
Transactions w ith ow ners
Distributions to ow ners
Returns on capital:
Dividends
Contributions by ow ners
Subtotal transactions w ith ow ners
Closing balance attributable to the
Australian Governm ent
Prepared on Australian Accounting Standards basis.
138
13,772
25,006
ComSuper Budget Statements
Table 3.2.4: Budgeted Departmental Statement of Cash Flows
(for the period ended 30 June)
Estimated
actual
2011-12
$'000
Budget
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
Forw ard
estimate
2015-16
$'000
84,210
79,928
164,138
82,046
85,699
167,745
82,722
86,461
169,183
83,404
84,229
167,633
84,333
84,602
168,935
43,003
23,646
86,284
6,485
159,418
37,372
23,205
82,046
6,684
149,307
37,168
24,511
82,722
6,860
151,261
36,275
25,938
83,404
7,020
152,637
37,056
25,943
84,333
6,638
153,970
4,720
18,438
17,922
14,996
14,965
918
918
-
-
-
-
2,890
918
3,808
9,538
9,538
9,622
9,622
6,696
6,696
6,665
6,665
(2,890)
(9,538)
(9,622)
(6,696)
(6,665)
4,658
4,658
8,900
8,900
8,300
8,300
8,300
8,300
8,300
8,300
(4,658)
(8,900)
(8,300)
(8,300)
(8,300)
OPERATING ACTIVITIES
Cash received
Sale of goods and rendering of services
Cash transfer from OPA
Total cash received
Cash used
Employees
Suppliers
Cash transferred to OPA
Other
Total cash used
Net cash from (used by)
operating activities
INVESTING ACTIVITIES
Cash received
Other
Total cash received
Cash used
Purchase of property, plant
and equipment
Other
Total cash used
Net cash from (used by)
investing activities
FINANCING ACTIVITIES
Cash used
Other - Cash to the OPA
Total cash used
Net cash from (used by)
financing activities
Net increase (decrease)
in cash held
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the
end of the reporting period
Prepared on Australian Accounting Standards basis.
139
(2,828)
-
-
-
-
3,828
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
ComSuper Budget Statements
Table 3.2.5: Departmental Capital Budget Statement
PURCHASE OF NON-FINANCIAL
ASSETS
Funded internally from
departmental resources
TOTAL
RECONCILIATION OF CASH
USED TO ACQUIRE ASSETS
TO ASSET MOVEMENT TABLE
Total purchases
Total cash used to
acquire assets
Prepared on Australian Accounting Standards basis.
140
Estimated
actual
2011-12
$'000
Budget
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
Forw ard
estimate
2015-16
$'000
2,890
2,890
9,538
9,538
9,622
9,622
6,696
6,696
6,665
6,665
2,890
9,538
9,622
6,696
6,665
2,890
9,538
9,622
6,696
6,665
ComSuper Budget Statements
Table 3.2.6: Statement of Departmental Asset Movements (2012-13)
Buildings
$'000
As at 1 July 2012
Gross book value
Accumulated depreciation/amortisation
and impairment
Opening net book balance
Asset Category
Other property,
Computer
plant and softw are and
equipment
intangibles
$'000
$'000
Total
$'000
2,593
3,915
63,108
69,616
(976)
1,617
(1,160)
2,755
(53,321)
9,787
(55,457)
14,159
CAPITAL ASSET ADDITIONS
Estim ated expenditure on
new or replacem ent assets
By purchase - other
Total additions
-
3,444
3,444
6,094
6,094
9,538
9,538
Other m ovem ents
Depreciation/amortisation expense
Total other m ovem ents
-
(1,101)
(1,101)
(5,428)
(5,428)
(6,529)
(6,529)
2,593
(976)
7,359
(2,261)
69,202
(58,749)
79,154
(61,986)
1,617
5,098
10,453
17,168
As at 30 June 2013
Gross book value
Accumulated depreciation/amortisation
and impairment
Closing net book balance
Prepared on Australian Accounting Standards basis.
141