C : General Business Disclosures
This section includes disclosures for operations which are significant in size and/or nature for Finance. In 2016–17, these areas include general insurance activities, the investment funds and superannuation.
C4 : Restructuring
Net assets received from or relinquished to another Australian Government entity under a restructuring of administrative arrangements are adjusted at their book value directly against contributed equity.
Finance assumed responsibility for shared services functions from the Education and Training and Employment portfolios following a restructure of administrative arrangements on 1 December 2016. Shared services functions transferred included financial and human resources services and the Parliamentary Workflow System.
Finance relinquished responsibility of functions associated with Whole of Australian Government Information and Communications Technology (WOAG ICT) policy, procurement and strategy-related functions to the Digital Transformation Agency (DTA) following a restructure of administrative arrangements on 27 October 2016. Relevant staff, appropriations, assets and liabilities were transferred in 2016–17; however, a final transfer of the relevant components of Finance's CPCSA will occur in 2017–18 following the establishment of theDTA ICT Coordinated Procurement Special Account.
Finance relinquished responsibility of functions associated with: auditing, reporting, providing advice and processing claims relating to travel expenses and allowances of parliamentarians and MOP(S) Act staff following a restructure of administrative arrangements on 3 April 2017. These functions were transferred to the Independent Parliamentary Expenses Authority (IPEA).
Prior year restructures included functions relinquished by Finance to PM&C and the DTA (formerly DTO) relating to the Gov 2.0 function (as part of restructure of administrative arrangements on 21 September 2015) and the transferring of the Boardlinks program to PM&C (following a restructure of administrative arrangements on 6 January 2016).
| Shared Services to Finance | WoAG ICT to DTA | Travel entitlements to IPEA | Travel entitlements to IPEA | Gov 2.0 to DTA | Gov 2.0 to PM&C | |
| 30 June | 30 June | 30 June | 30 June | 30 June | 30 June | |
| 2017 | 2017 | 2017 | 2017 | 2016 | 2016 | |
| $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
| FUNCTIONS ASSUMED | ||||||
| Assets recognised | ||||||
| Appropriation and other receivables | 5,221 | - | - | - | - | - |
| Intangibles | 11,818 | - | - | - | - | - |
| Other non-financial assets | 171 | - | - | - | - | - |
| Prepayments | 1,298 | - | - | - | - | - |
| Total assets recognised | 18,508 | - | - | - | - | - |
| Liabilities recognised | ||||||
| Payables | 1,336 | - | - | - | - | - |
| Employee provisions | 3,130 | - | - | - | - | - |
| Total liabilities recognised | 4,466 | - | - | - | - | - |
| Net assets/(liabilities) recognised | 14,042 | - | - | - | - | - |
| Income assumed | ||||||
| Recognised by the receiving entity | 15,184 | - | - | - | - | - |
| Recognised by the losing entity | 3,837 | - | - | - | - | - |
| Total income for assumed function | 19,021 | - | - | - | - | - |
| Expenses assumed | ||||||
| Recognised by the receiving entity1 | 17,359 | - | - | - | - | - |
| Recognised by the losing entity | 11,932 | - | - | - | - | - |
| Total expenses for assumed function | 29,291 | - | - | - | - | - |
| FUNCTIONS RELINQUISHED | ||||||
| Assets relinquished | ||||||
| Receivables | - | 3,443 | 1,027 | 107 | 431 | 24 |
| Intangibles and prepayments | - | - | - | - | 1,003 | 26 |
| Total assets relinquished | - | 3,443 | 1,027 | 107 | 1,434 | 50 |
| Liabilities relinquished | ||||||
| Payables | - | 807 | - | 3,945 | - | - |
| Employee provisions | - | 2,636 | 1,027 | 617 | 431 | 24 |
| Total liabilities relinquished | - | 3,443 | 1,027 | 4,562 | 431 | 24 |
| Net assets/(liabilities) relinquished | - | - | - | (4,455) | 1,003 | 26 |
1Includes depreciation but excludes departmental overheads.
