Natural Heritage Trust of Australia

Natural Heritage Trust of Australia

Financial Statements

Subsection 43(3) of the Natural Heritage Trust of Australia Act 1997 requires that the financial statements of the Natural Heritage Trust of Australia Account comply with written guidelines issued by the Minister for Finance.

In our opinion, the attached financial statements for the year ended 30 June 2012 are based on properly maintained financial records and give a true and fair view of the matters required by the Finance Minister’s Orders made under the Financial Management and Accountability Act 1997, as amended.

Signed................................	Signed................................
Dr Paul Grimes Secretary 30 August 2012	Lily Viertmann Chief Finance Officer 30 August 2012

		2012		2011
	Notes	$'000		$'000
EXPENSES
Supplier	3A	49,358		47,863
Grants	3B	141,665		165,458
Write-down and impairment of assets	3C	197		-
Other expenses	3D	29		-
Total expenses		191,249		213,321
LESS:
OWN-SOURCE INCOME
Own-source revenue
Interest	4A	13,505		18,615
Other revenue	4B	341		2,206
Total own-source revenue		13,846		20,821
Gains
Other gains	4C	65		65
Total gains		65		65
Total own-source income		13,911		20,886
Net cost of services		177,338		192,435
Revenue from Government	4D	172,763		195,735
Surplus (Deficit) attributable to the Australian Government		(4,575)		3,300
Total comprehensive income (loss) attributable to the Australian Government		(4,575)		3,300

		2012		2011
	Notes	$'000		$'000
ASSETS
Financial Assets
Cash and cash equivalents	5A	-		-
Trade and other receivables	5B	402,093		414,201
Total financial assets		402,093		414,201
Total assets		402,093		414,201
LIABILITIES
Payables
Suppliers	6A	2,736		476
Grants	6B	2,208		11,394
Other payables	6C	2,424		3,031
Total payables		7,368		14,901
Total liabilities		7,368		14,901
Net assets		394,725		399,300
EQUITY
Retained surplus		394,725		399,300
Total equity		394,725		399,300

	Retained earnings		Total equity
	2012	2011	2012	2011
	$'000	$'000	$'000	$'000
Opening balance
Balance carried forward from previous period	399,300	396,000	399,300	396,000
Comprehensive income
Surplus (Deficit) for the period	(4,575)	3,300	(4,575)	3,300
Total comprehensive income	(4,575)	3,300	(4,575)	3,300
Closing balance as at 30 June	394,725	399,300	394,725	399,300
Closing balance attributable to the Australian Government	394,725	399,300	394,725	399,300