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Part 4: Financial statements (continued)

Note 3: Operating Expenses
  2013
$’000
2012
$’000
Note 3A: Employee Benefits    
Wages and salaries 92,274 94,753
Superannuation:    
Defined contribution plans 5,525 5,035
Defined benefit plans 10,590 10,407
Redundancies 51 5,563
Leave and other entitlements 10,990 16,663
Other 3,294 2,965
Total employee benefits 122,724 135,386
     
Note 3B: Suppliers    
Goods and services1    
Information communication technology 6,055 5,336
Conferences and Training 2,357 2,397
Consultants and Contractors 6,046 7,222
Fees – Audit, Accounting, Bank and Other 1,433 1,174
Insurance 370 1,009
Legal 2,382 1,810
Printing 445 631
Property operating expenses 11,092 11,362
Publications and Subscriptions 1,460 1,707
Travel 4,706 5,230
Other 1,789 1,785
Total goods and services 38,135 39,663
     
Goods and services are made up of:    
Provision of goods from:    
related entities 61 64
external entities 2,712 2,511
Rendering of services from:    
related entities 7,011 7,502
external entities 20,490 20,632
Operating lease rentals:2    
related entities 494 482
external entities 7,199 7,683
Workers compensation premiums 168 789
Total supplier expenses 38,135 39,663
     
Note 3C: Grants    
Grants paid    
Public sector:    
Clean Energy Finance Corporation 18,383  –
Australian Government entities – other 139 78
Private sector:    
Non-profit organisations 4,830 4,031
Total grants 23,352 4,109

1. Certain comparative figures have been reclassified and do not match what was published in the 2011-12 financial statements.
2. Operating lease rentals comprise minimum lease payments only.

Note 3: Operating Expenses (continued)
  2013
$’000
2012
$’000
Note 3D: Depreciation and amortisation    
Depreciation    
Plant and equipment 2,571 2,568
Buildings – leasehold improvements 3,091 2,365
Total depreciation 5,662 4,933
Amortisation    
Intangibles – computer software 8,071 8,485
Total amortisation 8,071 8,485
Total depreciation and amortisation 13,733 13,418
     
Note 3E: Finance costs    
Leases 1 17
Total finance costs 1 17
     
Note 3F: Write-down and impairment of assets    
Non-financial assets    
Plant and equipment 213 245
Intangibles 17  –
Total write-down and impairment of assets 230 245
     
Note 3G: Losses from asset sales    
Property, plant and equipment    
Proceeds from sale (29)  –
Carrying value of asset sold 44  –
Selling expense 9  –
Total losses from asset sales 24  –
Note 4: Income
  2013
$’000
2012
$’000
Note 4A: Sale of goods and rendering of services    
Rendering of services to:    
related entities 9,494 7,852
external entities 348 387
Operating lease rental – external entities 104 94
Total sale of goods and rendering of services 9,946 8,333
     
Note 4B: Other revenue    
MCCA contributions received 341 500
Other 224 368
Total other revenues 565 868
     
Note 4C: Sale of assets    
Plant and equipment    
Proceeds from sale  – 11
Net book value of assets disposed  – (7)
Net gain from sale of assets  – 4
     
Note 4D: Other gains    
Resources received free of charge 2,420 526
Total other revenue 2,420 526
     
Note 4E: Revenue from Government    
Appropriations    
Departmental appropriation 174,569 158,119
Total revenue from Government 174,569 158,119
Note 5: Financial Assets
  2013
$’000
2012
$’000
Note 5A: Cash and cash equivalents    
Special Accounts 100 296
Cash on hand or on deposit 1,123 812
Total cash and cash equivalents 1,223 1,108
     
Note 5B: Trade and other receivables    
Goods and Services:    
related entities 451 790
external parties 1,342 1,128
Total goods and services 1,793 1,918
     
Appropriations Receivable:    
for existing programs 59,608 51,933
Total appropriations receivable 59,608 51,933
     
Other receivables:    
Net GST receivable from the ATO 595 1,290
Total other receivables 595 1,290
     
Total trade and other receivables (net) 61,996 55,141
All receivables are current assets    
     
Receivables (gross) are aged as follows:    
Not overdue 61,854 54,844
Overdue by:    
0 to 30 days 32 176
31 to 60 days 66 85
61 to 90 days 43 16
More than 90 days 1 20
Total receivables (gross) 61,996 55,141

Credit terms for goods and services were within 30 days (2012: 30 days).

Note 6: Non-Financ
ial Assets
  2013
$’000
2012
$’000
Note 6A: Land and buildings    
Buildings – Leasehold improvements    
Under construction 576 747
At fair value 11,643 8,644
Accumulated depreciation (5,404) (2,363)
Total Buildings – Leasehold improvements 6,815 7,028

No indicators of impairment were found for land and buildings.
All revaluations are independent and are conducted in accordance with the revaluation policy stated at Note 1.18.

     
Note 6B: Plant and equipment    
Plant and equipment    
Under construction 4,400 6,297
At fair value 11,638 9,157
Accumulated depreciation (4,132) (2,527)
Total plant and equipment 11,906 12,927

No indicators of impairment were found for plant and equipment.
All revaluations are independent and are conducted in accordance with the revaluation policy stated at Note 1.18.

     
Note 6C: Intangibles    
Computer software    
Under construction 909 538
Internally developed – in use1 7,114 40,237
Purchased 4,513 3,176
Accumulated amortisation (6,276) (18,240)
Total computer software 6,260 25,711

1. The decrease in internally developed intangible non-financial assets is the result of the transfer of the SBR software to the ATO due to restructuring of administrative arrangements on 11 April 2013. Further details are described in Note 9: Restructuring.
No indicators of impairment were found for intangibles.
No intangibles are expected to be sold or disposed of within the next 12 months.

Note 6: Non-Financial Assets (continued)
  Buildings — leasehold improvements
$’000
Plant and equipment
$’000
Computer software
$’000
Total
$’000
As at 1 July 2012        
Gross book value 9,391 15,454 43,951 68,796
Accumulated depreciation and impairment (2,363) (2,527) (18,240) (23,130)
Net book value 1 July 2012 7,028 12,927 25,711 45,666
Additions 2,879 1,806 3,287 7,972
Impairments recognised in the operating result  – (213) (17) (230)
Depreciation / amortisation expense (3,091) (2,571) (8,071) (13,733)
Disposals:        
From disposal of operations (restructuring)1  –  – (14,650) (14,650)
Other disposals (1) (43)  – (44)
Net book value 30 June 2013 6,815 11,906 6,260 24,981
         
Net book value as of 30 June 2013 represented by:        
Gross book value 12,219 16,038 12,536 40,793
Accumulated depreciation and impairment (5,404) (4,132) (6,276) (15,812)
Net book value 30 June 2013 6,815 11,906 6,260 24,981

1. The SBR function was relinquished to the ATO during 2013 due to restructuring of administrative arrangements on 11 April 2013. Further details are described in Note 9: Restructuring.

Note 6: Non-Financial Assets (continued)
  Buildings — leasehold improvements
$’000
Plant and equipment
$’000
Computer software
$’000
Total
$’000
As at 1 July 2011        
Gross book value 19,653 13,655 41,408 74,716
Accumulated depreciation and impairment (11,775) (5,260) (10,291) (27,326)
Net book value 1 July 2011 7,878 8,395 31,117 47,390
Additions 1,687 7,232 3,087 12,006
Revaluations and impairments recognised in other comprehensive income (172) 112  – (60)
Depreciation / amortisation expense (2,365) (2,568) (8,485) (13,418)
Disposals:        
Other disposals  – (244) (8) (252)
Net book value 30 June 2012 7,028 12,927 25,711 45,666
         
Net book value as of 30 June 2012 represented by:        
Gross book value 9,391 15,454 43,951 68,796
Accumulated depreciation and impairment (2,363) (2,527) (18,240) (23,130)
Net book value 30 June 2012 7,028 12,927 25,711 45,666

A revaluation of Treasury’s buildings – leasehold improvement and plant and equipment was conducted on 1 July 2011.

Note 6: Non-Financial Assets (continued)
  2013
$’000
2012
$’000
Note 6D: Other non-financial assets    
Prepayments 2,665 2,502
Total other non-financial assets 2,665 2,502
     
Other non-financial assets are expected to be recovered in:    
No more than 12 months 2,359 2,055
More than 12 months 306 447
Total other non-financial assets 2,665 2,502

No indicators of impairment were found for other non-financial assets.

Note 7: Payables
  2013
$’000
2012
$’000
Note 7A: Suppliers    
Trade creditors    
related entities 358 112
external entities 2,158 199
Total trade creditors 2,516 311
Total supplier payables 2,516 311
All supplier payables are expected to be settled within 12 months.    
     
Note 7B: Other payables    
Salaries and wages 2,522 2,313
Superannuation 441 411
Other creditors 2,806 1,393
Prepayments received 2,730 3,161
Total other payables 8,499 7,278
     
Other payables are expected to be settled in:    
No more than 12 months 8,499 7,278
More than 12 months  –  –
Total other payables 8,499 7,278

Note: Settlement is usually made within 30 days.

Note 8: Provisions
  2013
$’000
2012
$’000
Note 8A: Employee provisions    
Leave 42,693 41,771
Other employee entitlements 132 105
Total employee provisions 42,825 41,876
     
Employee provisions are expected to be settled in:    
No more than 12 months 13,649 12,860
More than 12 months 29,176 29,016
Total employee provisions 42,825 41,876
Note 9: Restructuring
  2013
$’000
2012
$’000
  SBR
ATO
$’000
Housing policy
DSEWPaC
$’000
FUNCTIONS ASSUMED    
Assets recognised    
Appropriation receivable  – 161
Total assets recognised  – 161
     
Liabilities recognised    
Employer payables  – 312
Supplier payables  – 5
Total liabilities recognised  – 317
Net assets/(liabilities) assumed  – (156)
     
Income    
Recognised by the receiving entity  – 1,115
Recognised by the losing entity &nbsp
;-
1,445
Total Income  – 2,560
     
Expenses    
Recognised by the receiving entity  – 1,007
Recognised by the losing entity  – 1,445
Total Expenses  – 2,452
     
FUNCTIONS RELINQUISHED    
Assets relinquished    
Intangibles 14,650  –
Other non-financial assets 159  –
Total assets relinquished 14,809  –
     
Liabilities relinquished    
Employee provisions 524  –
Total liabilities relinquished 524  –
Net assets/(liabilities) relinquished 14,285  –

1. The Treasury assumed responsibility for the housing policy function from the Department of Sustainability, Environment, Water, Population and Communities (DSEWPaC) during 2012 due to restructuring of administrative arrangements on 27 January 2012.
2. The Standard Business Reporting (SBR) function was relinquished to the Australian Taxation Office (ATO) during 2013 due to restructuring of administrative arrangements on 11 April 2013.

Note 10: Cash Flow Reconciliation
  2013
$’000
2012
$’000
Reconciliation of cash and cash equivalents as per    
Balance Sheet to Cash Flow Statement    
     
Cash and cash equivalents as per:    
Cash flow statement 1,223 1,108
Balance sheet 1,223 1,108
     
Reconciliation of net cost of services to net cash from operating activities:    
Net cost of services (10,699) (24,988)
     
Adjustments for non-cash items    
Depreciation / amortisation 13,733 13,418
Net write down of non-financial assets 230 245
Gain on disposal of assets  – (4)
Loss on disposal of non-current assets 24  –
     
Changes in assets / liabilities    
(Increase) / decrease in net receivables (6,855) 17,102
(Increase) / decrease in other non-financial assets (322) (166)
Increase / (decrease) in provisions 949 3,162
Increase / (decrease) in other payables 1,221 (915)
Increase / (decrease) in supplier payables 2,205 (2,112)
Net cash from / (used by) operating activities 486 5,742
Note 11: Contingent Assets and Liabilities
  Studies Assistance Total
  2013
$’000
2012
$’000
2013
$’000
2012
$’000
Contingent liabilities        
Balance from previous period 297 300 297 300
New  – 297  – 297
Liabilities recognised  –  –  –  –
Obligations expired / crystallised (297) (300) (297) (300)
Total contingent liabilities  – 297  – 297
CONTINGENT LIABILITIES  – 297  – 297

Quantifiable contingencies

The schedule of contingencies reports liabilities of $0 (2012: $297,389). The amount in 2012 represented an estimate of the Treasury’s liability in respect of studies assistance. During 2012-13, the Treasury recognised a liability in respect of studies assistance.

Remote Contingencies

The Treasury’s lease on its current premises contains a make good clause which has been estimated by an independent valuer at $2.7 million. The Treasury has assessed the likelihood of the make good provision being required and has deemed it as remote.

As at 30 June 2013, the Treasury has a number of contracts which may give rise to contingent liabilities based on certain events occurring. The Treasury has assessed the likelihood of such events occurring as being remote and unquantifiable

Note 12: Senior Executive Remuneration
Note 12A: Senior executive remuneration expense for the reporting period
  2013
$
2012
$
Short-term employee benefits    
Salary 18,789,223 18,825,103
Annual leave accrued 242,514 287,365
Allowances 1,431,890 1,204,316
Total short-term employee benefits 20,463,627 20,316,784
     
Post-employment benefits    
Superannuation 2,816,556 2,694,551
Total post-employment benefits 2,816,556 2,694,551
     
Other long-term benefits    
Long-service leave 999,935 2,078,060
Total other long-term benefits 999,935 2,078,060
     
Termination benefits  – 481,476
Total employment benefits 24,280,118 25,570,871

1. Note 12A is prepared on an accrual basis. No performance bonuses were paid in 2013 (2012: Nil).
2. Note 12A excludes acting arrangements and part-year service where total remuneration expensed for a senior executive was less than $180,000.
3. Note 12A includes employees posted overseas.
4. The comparative figures have been revised and do not match what was published in the 2011-12 financial statements due to new disclosure requirements. The reporting requirements can be found in the Finance Ministers Orders, which are available on www.finance.gov.au.

Note 12: Senior Executive Remuneration (continued)
Note 12B: Average annual reportable remuneration paid to substantive senior executives during the reporting period
    2013
Average annual reportable remuneration1 Reportable salary2 Contributed
superannuation3
Bonus
paid4
Total
  Senior
Executives
No.
Salary
payments
$
Domestic
allowances
$
Overseas
allowances
$
$ $ $
Total remuneration (including part-time arrangements):
less than $180,000 17 77,089 364  – 14,849  – 92,302
$180,000 to $209,999 16 161,779 2,378 2,762 30,895 965 198,779
$210,000 to $239,999 27 189,113 264 2,309 34,370  – 226,056
$240,000 to $269,999 18 195,335 6,596 11,352 37,172  – 250,455
$270,000 to $299,999 11 204,094 5,434 33,467 40,580  – 283,575
$300,000 to $329,999 4 250,591 80 21,258 42,743  – 314,672
$330,000 to $359,999 4 282,238 133 26,888 45,377  – 354,636
$360,000 to $389,999 4 253,104 13 83,678 44,140  – 380,935
$390,000 to $419,999 2 347,929 530  – 50,313  – 398,772
$660,000 to $699,999 1 570,134  –  – 93,163  – 663,297
Total 104            

1. This table reports substantive senior executives who received remuneration during the reporting period. Each row is an averaged figure based on headcount for individuals in the band.
2. ‘Reportable salary’ includes the following:
a) gross payments;
b) reportable fringe benefits (at the net amount prior to ‘grossing up’ for tax purposes);
c) exempt foreign employment income; and
d) salary sacrificed amounts.
3. The ‘contributed superannuation’ amount is the average cost to the Treasury for the provision of superannuation benefits to substantive senior executives in that reportable band during the reporting period.
4. ‘Bonus paid’ represents average actual bonuses paid during the reporting period in that reportable remuneration band. The Treasury does not pay bonuses. The bonuses included in the table above relate to secondees. No secondees received a bonus in 2011-12.
5. There were no reportable allowances paid in 2012-13.
6. Various salary sacrifice arrangements were available to senior executives including superannuation, motor vehicle and expense payment fringe benefits. Salary sacrifice benefits are reported in the ‘reportable salary’ column, excluding salary sacrificed superannuation, which is reported in the ‘contributed superannuation’ column.
7. Employees posted overseas are included in this table.

Note 12: Senior Executive Remuneration (continued)
    2012
Average annual reportable remuneration1 Reportable salary2 Contributed
superannuation3
Bonus
paid4
Total
  Senior
Executives
No.
Salary
payments
$
Domestic
allowances
$
Overseas
allowances
$
$ $ $
Total remuneration (including part-time arrangements):
less than $180,000 21 82,139 300 1,555 18,142  – 102,136
$180,000 to $209,999 17 170,270 2,173 583 28,279  – 201,305
$210,000 to $239,999 32 180,252 4,397  – 39,302  – 223,951
$240,000 to $269,999 10 200,775 2,968 3,327 45,484  – 252,554
$270,000 to $299,999 6 234,061 53 11,069 42,876  – 288,059
$300,000 to $329,999 3 237,499 194 23,981 47,624  – 309,298
$330,000 to $359,999 3 278,280 212 23,208 37,340  – 339,040
$360,000 to $389,999 5 292,985 265 39,365 47,591  – 380,206
$390,000 to $419,999 1 329,282  –  – 74,086  – 403,368
$540,000 to $579,999 1 439,927  –  – 114,300  – 554,227
Total 99            

1. This table reports substantive senior executives who received remuneration during the reporting period. Each row is an averaged figure based on headcount for individuals in the band.
2. ‘Reportable salary’ includes the following:
a) gross payments;
b) reportable fringe benefits (at the net amount prior to ‘grossing up’ for tax purposes);
c) exempt foreign employment income; and
d) salary sacrificed amounts.
3. The ‘contributed superannuation’ amount is the average cost to the Treasury for the provision of superannuation benefits to substantive senior executives in that reportable band during the reporting period.
4. ‘Bonus paid’ represents average actual bonuses paid during the reporting period in that reportable remuneration band. No bonuses were paid in 2012.
5. There were no reportable allowances paid in 2011-12.
6. Various salary sacrifice arrangements were available to senior executives including superannuation, motor vehicle and expense payment fringe benefits. Salary sacrifice benefits are reported in the ‘salary payments’ column, excluding salary sacrificed superannuation, which is reported in the ‘contributed superannuation’ column.
7. Employees posted overseas are included in this table.
8. The comparative figures have been revised and do not match what was published in the 2011-12 financial statements due to new disclosure requirements. The reporting requirements can be found in the Finance Ministers Orders, which are available on www.finance.gov.au.

Note 12: Senior Executive Remuneration (continued)
Note 12C: Other highly paid staff
    2013
Average annual reportable remuneration1 Reportable salary2 Contributed
superannuation3
Total
  Staff
No.
Salary
payments
$
Domestic
allowances
$
Overseas
allowances
$
$ $
Total remuneration (including part time arrangements):
$180,000 to $209,999  –  –  –  –  –  –
Total  –          

1. This table reports staff:
a) who were employed by the entity during the reporting period;
b) whose reportable remuneration was $180,000 or more for the financial period; and
c) were not required to be disclosed in Table B.
Each row is an averaged figure based on headcount for individuals in the band.
2. ‘Reportable salary’ includes the following:
a) gross payments;
b) reportable fringe benefits (at the net amount prior to ‘grossing up’ for tax purposes); and
c) exempt foreign employment income.
3. The ‘contributed superannuation’ amount is the average cost to the Treasury for the provision of superannuation benefits to other highly paid staff in that reportable remuneration band during the reporting period.
4. Various salary sacrifice arrangements were available to other highly paid staff including superannuation, motor vehicle and expense payment fringe benefits. Salary sacrifice benefits are reported in the ‘salary payments’ column, excluding salary sacrificed superannuation, which is reported in the ‘contributed superannuation’ column.
5. Employees posted overseas are included in this table.

Note 12: Senior Executive Remuneration (continued)
    2012
Average annual reportable remuneration1 Reportable salary2 Contributed
superannuation3
Total
  Staff
No.
Salary
payments
$
Domestic
allowances
$
Overseas
allowances
$
$ $
Total remuneration (including part time arrangements):
$180,000 to $209,999 2 172,781 40  – 26,712 199,533
$300,000 to $329,999 1 165,749  – 124,565 21,034 311,348
Total 3          

1. This table reports staff:
a) who were employed by the entity during the reporting period;
b) whose reportable remuneration was $180,000 or more for the financial period; and
c) were not required to be disclosed in Table B.
Each row is an averaged figure based on headcount for individuals in the band.
2. ‘Reportable salary’ includes the following:
a) gross payments;
b) reportable fringe benefits (at the net amount prior to ‘grossing up’ for tax purposes); and
c) exempt foreign employment income.
3. The ‘contributed superannuation’ amount is the average cost to the Treasury for the provision of superannuation benefits to other highly paid staff in that reportable remuneration band during the reporting period.
4. Various salary sacrifice arrangements were available to oth
er highly paid staff including superannuation, motor vehicle and expense payment fringe benefits. Salary sacrifice benefits are reported in the ‘reportable salary’ column, excluding salary sacrificed superannuation, which is reported in the ‘contributed superannuation’ column.
5. Employees posted overseas are included in this table.
6. The comparative figures have been revised and do not match what was published in the 2011-12 financial statements due to new disclosure requirements. The reporting requirements can be found in the Finance Ministers Orders, which are available on www.finance.gov.au.

Note 13: Remuneration of Auditors
  2013
$’000
2012
$’000
Financial statement audit services were provided free of charge to the Treasury by the Australian National Audit Office.    
     
The fair value of the services provided was:    
Financial statement audit services 400 398
Total 400 398

No other services were provided by the auditors of the financial statements.

Note 14: Financial Instruments
  2013
$’000
2012
$’000
Note 14A: Categories of Financial Instruments    
Financial Assets    
Loans and receivables    
Cash and cash equivalents 1,223 1,108
Trade receivables 1,793 1,918
Carrying amount of financial assets 3,016 3,026
     
Financial Liabilities    
Liabilities at amortised cost    
Supplier payables 2,516 311
Other payables – other creditors 2,806 1,393
Carrying amount of financial liabilities 5,322 1,704
     
Note 14B: Net income and expense from financial liabilities    
Financial liabilities – at amortised cost    
Interest expense (1) (17)
Net gain/(loss) from financial liabilities – at amortised cost (1) (17)
     
Net gain/(loss) from financial liabilities (1) (17)

Note 14C: Fair value of financial instruments

The net fair values of the Treasury’s financial assets and financial liabilities are approximated by their carrying amounts.

The financial assets and financial liabilities as disclosed in Note 14A are measured under Level 2 of the fair value hierarchy as they are based on observable inputs. There have been no reclassifications between levels of the fair value hierarchy.

Note 14D: Credit risk

The Treasury is exposed to minimal credit risk as financial assets only include cash and trade receivables. The maximum exposure to credit risk is the risk that arises from potential default of a debtor. This amount is equal to the total amount of trade receivables (2013: $1,792,029 and 2012: $1,918,669). The Treasury has assessed the risk of default on payment as being minimal.

Other government agencies and staff members make up the majority of the Treasury’s debtors. To aid the Treasury to manage its credit risk there are internal policies and procedures that guide employees on debt recovery techniques that are to be applied.

The Treasury holds no collateral to mitigate against credit risk.

Credit quality of financial instruments not past due or individually determined as impaired
    Not past
due nor
impaired
2013
$’000
Not past
due nor
impaired
2012
$’000
Past due
or
impaired
2013
$’000
Past due
or
impaired
2012
$’000
Loans and receivables          
Cash and cash equivalents   1,223 1,108  –  –
Trade receivables   1,651 1,620 142 298
Total   2,874 2,728 142 298
           
Ageing of financial assets that were past due but not impaired for 2013
  0 to 30
days
$’000
31 to 60
days
$’000
61 to 90
days
$’000
90
days
$’000
Total
$’000
Loans and receivables          
Trade receivables 32 66 43 1 142
Total 32 66 43 1 142
           
Ageing of financial assets that were past due but not impaired for 2012
  0 to 30
days
$’000
31 to 60
days
$’000
61 to 90
days
$’000
90
days
$’000
Total
$’000
Loans and receivables          
Trade receivables 176 86 16 20 298
Total 176 86 16 20 298

Note 14E: Liquidity risk

The Treasury’s financial liabilities are payables. The exposure to liquidity risk is based on the notion that the Treasury will encounter difficulty in meeting its obligations associated with financial liabilities. This is highly unlikely due to the appropriation funding mechanisms available to the Treasury and internal policies and procedures put in place to ensure there are appropriate resources to meet its financial obligations.

The Treasury is appropriated funding from the Australian Government. The Treasury manages its budgeted funds to ensure it has adequate funds to meet payments as they fall due. In addition, the Treasury has policies in place to ensure timely payments are made when due and has no past experience of default.

Maturities for non-derivative financial liabilities 2013
  On
demand
$’000
Within 1
year
$’000
1 to 2
years
$’000
2 to 5
years
$’000
> 5
years
$’000
Total
$’000
Liabilities at amortised cost            
Payables – suppliers  – 2,516  –  –  – 2,516
Other payables  – 2,806  –  –  – 2,806
Total  – 5,322  –  –  – 5,322
             
Maturities for non-derivative financial liabilities 2012
  On
demand
$’000
Within 1
year
$’000
1 to 2
years
$’000
2 to 5
years
$’000
> 5
years
$’000
Total
$’000
Liabilities at amortised cost            
Payables – suppliers  – 311  –  –  – 311
Other payables  – 1,393  –  –  – 1,393
Total  – 1,704  –  –  – 1,704

Note 14F: Market risk

The Treasury holds only basic financial instruments that do not expose the department to certain market risks.

Note 15: Financial assets reconciliation
Financial assets Notes 2013
$’000
2011
$’000
       
Total financial assets as per balance sheet   63,219 56,249
Less: non-financial instrument components      
Appropriation receivables 5B 59,608 51,933
GST receivable from the ATO 5B 595 1,290
Total non-financial instrument components   60,203 53,223
Total financial assets as per financial instruments note 14A 3,016 3,026