8. Other Information

8.1 Assets Held in Trust

Monetary assets

Monetary assets held in trust are also disclosed in Note 5.2A—Special Accounts in the tables titled ‘Services for Other Entities and Trust Moneys.’ The Trust accounts are for monies received from other Government and non-agency bodies, or monies which are required to be held in trust for the benefit of a person other than the Commonwealth.

These monies are not available for other purposes of the Department and are not recognised in the financial statements.

 2017
$'000
2016
$'000
Services to Other Entities and Trust Monies—Department of Infrastructure and Regional Development    
As at 1 July 227 279
Receipts 20  -
Payments (1) (52)
Total as at 30 June 246 227
Total assets held in trust 246 227

The Department had no non-monetary assets held in trust as at 30 June 2017 (2016: Nil).

8.2 Restructuring

8.2A: Departmental Restructuring
 2017
$'000
2016
Office of Northern
Australia1
$'000
FUNCTION RELINQUISHED    
Assets relinquished    
Trade and other receivables  - 296
Total assets relinquished - 296
Liabilities relinquished    
Employee provisions  - 296
Total liabilities relinquished - 296
Net assets/(liabilities) relinquished - -
  1. As a result of changes to Administrative Arrangements Orders, responsibility for the Office for Northern Australia was transferred to the Department of Industry, Innovation and Science on 22 October 2015.
8.2B: Administered Restructuring
 2017
$'000
2016
Administration of Norfolk
Island1
$'000
FUNCTIONS ASSUMED    
Assets recognised    
Land and buildings  - 6,851
Other property, plant and equipment  - 473
Total assets recognised - 7,324
Assets relinquished    
Land and buildings  - 5,361
Other property, plant and equipment  - 64
Total assets relinquished - 5,425
Net assets recognised - 1,899

On 24 January 2017 land and associated assets at Moorebank NSW with a carrying value of $356.3 million were transferred from the Department of Defence. The transfer was recognised as a contribution by owners through equity (see Note 4.2A).

  1. Administration of Norfolk Island (2016)
    On 18 June 2015, the Norfolk Island Legislative Assembly and Executive Council were abolished following amendments to the Norfolk Island Act 1979. The Australian Government assumed control of the Administration of Norfolk Island (the Administration) as an interim arrangement

    On 1 July 2016, responsibility for health and aged care and education on Norfolk Island were assumed by the Australian Government. The Administration was replaced by the Norfolk Island Regional Council (Regional Council) which assumed responsibility for local government functions.

    To give effect to the new governance arrangements, the then Minister for Territories, Local Government and Major Projects signed an Instrument under the Norfolk Island Land Transfer Ordinance 2016 to transfer assets between the Australian Government and the Administration. The transfers were effective from 28 June 2016

    As a result of these transfers, the Department assumed administered assets associated with the Norfolk Island Police Station, Hospital and School. Assets associated with Regional Council functions, including parks, reserves and roads, were transferred to the Administration (and subsequently to the Regional Council from 1 July 2016).

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