City of Melbourne Annual Report 2015-16


Liabilities Note 25. Trade and other payables



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Liabilities

Note 25. Trade and other payables

Item


Consolidated

2016

$'000

Consolidated

2015

$'000

Council

2016

$'000

Council

2015

$'000

Current

N/A

N/A

N/A

N/A

Trade creditors general

19,141

17,952

8,573

11,215

Accrued expenses

48,107

53,696

38,042

39,965

Income in advance

2,980


5,527

938

2,128

Total

70,228

77,175

47,553

53,308

Trade creditors are unsecured, not subject to interest charges and are normally settled within 30 days from the date of invoice.

Note 26. Trust funds and deposits


Item

Consolidated

2016

$'000

Consolidated

2015

$'000

Council

2016

$'000

Council

2015


$'000


Current

N/A

N/A

N/A

N/A

Refundable deposits

5,752

4,545

3,893

2,726

Fire services levy

2,405

2,639

2,405

2,639

Retention amount

143

560

143

560

Other refundable deposits

812

782

277

186

Total

9,112


8,526

6,718

6,111

Refundable deposits - Deposits are taken by Council as a form of surety in a number of circumstances, including in relation to building works, tender deposits, contract deposits and the use of civic facilities.

Fire Service Levy - Council is the collection agent for fire services levy on behalf of the State Government. Council remits amounts received on a quarterly basis. Amounts disclosed here will be remitted to the state government in line with that process.



Retention Amounts - Council has a contractual right to retain certain amounts until a contractor has met certain requirements or a related warrant or defect period has elapsed. Subject to the satisfactory completion of the contractual obligations, or the elapsing of time, these amounts will be paid to the relevant contractor in line with Council's contractual obligations.

Note 27. Provisions


Item

Consolidated

2016

$'000

Consolidated

2015

$'000


Council

2016

$'000

Council

2015

$'000

Current provisions

N/A

N/A

N/A

N/A

Employee provisions

43,028

42,388

30,151

28,606

Other provisions

2,118

1,962

1,808

1,663

Subtotal

45,146

44,350

31,959

30,269

Non-current provisions


N/A

N/A

N/A

N/A

Employee provisions

5,064

4,849

3,314

2,900

Subtotal

5,064

4,849

3,314

2,900

Total provisions

50,210

49,199

35,273

33,169

  1. Employee provisions

Item

Consolidated

2016


$'000


Consolidated

2015

$'000

Council

2016

$'000

Council

2015

$'000

(a) Current provisions expected to be wholly settled within 12 months

N/A

N/A

N/A

N/A

Annual leave

13,746

14,002

9,986

9,657

Long service leave

2,263

2,536

1,523

1,476

Subtotal

16,009

16,538


11,509

11,133

(b) Current provisions expected to be wholly settled after 12 months

N/A

N/A

N/A

N/A

Annual leave

1,836

1,857

0

21

Long service leave

25,183

23,993

18,642

17,452

Subtotal

27,019

25,850

18,642

17,473

Total current provisions

43,028

42,388

30,151


28,606

(c) Non-Current

N/A

N/A

N/A

N/A

Long service leave

5,064

4,849

3,314

2,900

Total non-current provisions

5,064

4,849

3,314

2,900

Aggregate carrying amount of employee provisions

N/A

N/A

N/A

N/A

Current

43,028

42,388

30,151

28,606


Non-current

5,064

4,849

3,314

2,900

Total aggregate carrying amount of employee provisions

48,092

47,237

33,465

31,506

Assumptions adopted in measuring the present value of employee benefits

Item

Consolidated

2016


Consolidated

2015


Council

2016


Council

2015


Weighted average increase in employee costs

3.19%

3.35%

2.61%


2.90%

Weighted average discount rates

1.62%

2.10%

1.59%

2.06%

Weighted average settlement period (months)

48

42

48

43

  1. Other provisions

Item

Consolidated

2016

$'000

Consolidated

2015

$'000

Council

2016

$'000

Council

2015

$'000

(a) Current

N/A

N/A


N/A

N/A

Insurance claims

558

413

558

413

Other

1,560

1,549

1,250

1,250

Total

2,118

1,962

1,808

1,663

(b) Reconciliation of movements

N/A

N/A

N/A

N/A

Insurance claims

N/A

N/A

N/A

N/A

Balance at the beginning of financial year


413

741

413

741

Additional provisions

285

82

285

82

Prior year finalised

(140)

(410)

(140)

(410)

Balance at the end of the financial year

558

413

558

413

Other (includes provision for rate objection and payroll tax)

N/A

N/A

N/A

N/A

Balance at the beginning of financial year

1,549


1,542

1,250

1,250

Additional provisions

11

7

0

0

Balance at the end of the financial year

1,560

1,549

1,250

1,250


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