G : Managing Other Uncertainties
This section includes additional information about commitments and other events that may have an impact on future financials. These amounts have not been recorded elsewhere in the statements.
In the following disclosures, Departmental and Administered items are included together for presentation purposes only and these balances should not be compared.
G1 : Commitments
Commitments are defined as:
- Intentions to create liabilities or assets for the receiving entity, as evidenced by undertakings or agreements to make/obtain future payments to/from other entities; and
- Are executory contracts that are not recognised under AASB 137 Provisions, Contingent Liabilities and Contingent Assets (i.e. not onerous); but
- Do not include future appropriations.
Commitments are disclosed per requirements of AASB 117 Leases, AASB 138 Intangible Assets and AASB 116 Property, Plant and Equipment.
| Departmental | Administered | |||
| 30 June | 30 June | 30 June | 30 June | |
| 2017 | 2016 | 2017 | 2016 | |
| $'000 | $'000 | $'000 | $'000 | |
| BY TYPE | ||||
| Commitments receivable | ||||
| Domestic property portfolio - rent receivable1 | 983,098 | 954,950 | - | - |
| Subleasing - rent receivable2 | 11,170 | 12,587 | - | - |
| Net GST recoverable | 38,512 | 46,869 | 12,730 | 12,325 |
| Total commitments receivable | 1,032,780 | 1,014,406 | 12,730 | 12,325 |
| Commitments payable3 | ||||
| Capital commitments | ||||
| Land and buildings4 | 40,206 | 107,539 | 105 | 500 |
| Intangible assets development | 5,089 | 10,350 | - | - |
| Infrastructure, plant & equipment | 1,215 | 2,661 | - | 144 |
| Total capital commitments | 46,510 | 120,550 | 105 | 644 |
| Other commitments | ||||
| Operating leases5 | 377,122 | 386,288 | 140,125 | 135,168 |
| Finance leases6 | 7,075 | 11,433 | - | - |
| Net GST payable | 89,373 | 86,814 | - | - |
| Total other commitments | 473,570 | 484,535 | 140,125 | 135,168 |
| Total commitments payable | 520,080 | 605,085 | 140,230 | 135,812 |
| Net commitments by type | 512,700 | 409,321 | (127,500) | (123,487) |
| BY MATURITY | ||||
| Commitments receivable | ||||
| Within 1 year | 78,114 | 81,338 | 3,271 | 3,385 |
| Between 1 to 5 years | 397,162 | 365,459 | 7,725 | 6,886 |
| More than 5 years | 557,504 | 567,609 | 1,734 | 2,054 |
| Total commitments receivable | 1,032,780 | 1,014,406 | 12,730 | 12,325 |
| Commitments payable | ||||
| Capital commitments | ||||
| Within 1 year | 38,911 | 105,387 | 105 | 644 |
| Between 1 to 5 years | 7,599 | 15,163 | - | - |
| Total capital commitments | 46,510 | 120,550 | 105 | 644 |
| Operating lease commitments | ||||
| Within 1 year | 17,482 | 21,134 | 36,059 | 36,820 |
| Between 1 to 5 years | 90,864 | 102,450 | 84,988 | 75,749 |
| More than 5 years | 268,776 | 262,704 | 19,078 | 22,599 |
| Total operating lease commitments | 377,122 | 386,288 | 140,125 | 135,168 |
| Finance lease commitments | ||||
| Within 1 year | 3,190 | 3,267 | - | - |
| Between 1 to 5 years | 3,885 | 8,166 | - | - |
| Total finance lease commitments | 7,075 | 11,433 | - | - |
| Other commitments | ||||
| Within 1 year | 6,461 | 6,191 | - | - |
| Between 1 to 5 years | 34,440 | 31,334 | - | - |
| More than 5 years | 48,472 | 49,289 | - | - |
| Total other commitments | 89,373 | 86,814 | - | - |
| Total commitments payable | 520,080 | 605,085 | 140,230 | 135,812 |
| Net commitments by maturity | 512,700 | 409,321 | (127,500) | (123,487) |
1Domestic property portfolio rent receivable includes rent to be received from the Australian Government’s non-Defence Commonwealth owned property portfolio within Australia.
2Subleasing rent receivable arrangements exist with the Department of Human Services for One Canberra Avenue.
3 Commitments relating to goods and services contracts for current and prior years are not required to be disclosed.
4Land and buildings mainly represent outstanding contractual commitments for construction projects.
5Operating leases mainly comprise office accommodation for Finance business operations (Departmental) and electorate offices for parliamentarians, Commonwealth Parliament Offices and COMCAR depots (Administered).
6Finance leases represent outstanding contractual commitments relating to IT equipment and software.
