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 moneys received from other Government and non-agency bodies, or moneys which are required to be held in trust for the benefit of a person other than the Commonwealth.

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

2018
$'000
2017
$'000
Services to Other Entities and Trust Moneys—Department of Infrastructure, Regional Development and Cities
As at 1 July 246 227
Receipts 6 20
Payments (145) (1)
Total as at 30 June 107 246
Total assets held in trust 107 246

The Department had no non-monetary assets held in trust as at 30 June 2018 (2017: Nil).

8.2 Restructuring

8.2A: Departmental Restructuring
201820182017
Cities and population
policy
Department of the
Prime Minister and
Cabinet1
$'000
Water infrastructure
policy
Department of
Agriculture and Water
Resources2
$'000
$'000
FUNCTION ASSUMED
Assets recognised
Trade and other receivables 1,192 305  -
Total assets recognised 1,192 305 -
Liabilities recognised
Employee provisions 1,192 305  -
Total liabilities recognised 1,192 305 -
Net assets/(liabilities) recognised - - -
Income
Recognised by the receiving entity 2,473 351  -
Recognised by the losing entity 4,950 1,093  -
Total Income 7,423 1,444 -
Expenses
Recognised by the receiving entity 2,473 351  -
Recognised by the losing entity 4,950 1,093  -
Total Expenses assumed 7,423 1,444 -
  1. Cities and population policy functions were assumed from the Department of the Prime Minister and Cabinet during 2017–18 due to amendments to the Administrative Arrangements Order on 20 December 2017. The effective date for the transfer of assets and liabilities was 22 February 2018.
  2. The water infrastructure policy function was assumed from the Department of Agriculture and Water Resources during 2017–18 following an announcement by the Prime Minister on 19 December 2017. The effective date for the transfer of assets and liabilities was 22 February 2018.
20182017
Transport security
Department of Home
Affairs3
$'000
$'000
FUNCTIONS RELINQUISHED
Assets relinquished
Cash and cash equivalents  27  -
Trade and other receivables  9,244  -
Accrued revenue  108  -
Land and buildings  3,251  -
Property, plant and equipment  351  -
Intangibles  2,432  -
Other non-financial assets  435  -
Total assets relinquished 15,848 -
Liabilities relinquished
Suppliers payable 323  -
Other payables 805  -
Employee provisions 8,427  -
Other provisions 290  -
Total liabilities relinquished 9,845 -
Net assets/(liabilities) relinquished 6,003 -
  1. Transport security functions were relinquished to the Department of Home Affairs during 2017–18 due to amendments to the Administrative Arrangements Order on 20 December 2017. The effective date for the transfer of assets and liabilities was 31 January 2018, except for employee provisions. The majority of employee provisions were transferred on 8 February 2018 with provisions for a further seventeen employees transferred on 8 March 2018.
  2. The net assets relinquished as a result of restructuring were $6.0 million.
  3. In respect of functions assumed, the net book values of assets and liabilities were transferred for no consideration.
  4. The net cost of services reported in the Statement of Comprehensive Income includes the following expenses and income incurred on behalf of the Department of Home Affairs for the transport security function between 20 December 2017 and the actual transfer of functions:
2018
$'000
Expenses
Employee benefits 3,911
Supplier expenses 1,175
Depreciation and amortisation 187
Finance costs (unwinding of discount) 1
Total expenses  5,274
Own-source income
Sale of goods and rendering of services 45
Net cost of services  5,229
Revenue from government 5,229
Surplus/(deficit) -
8.2B: Administered Restructuring
201820182017
Cities and population policy
Department of the
Prime Minister and
Cabinet1
$'000
Water infrastructure
policy
Department of
Agriculture and
Water Resources2
$'000
$'000
FUNCTIONS ASSUMED
Expenses assumed
Recognised by the receiving entity 4,159  3,000  -
Recognised by the losing entity 8,128 1,000  -
Total expenses assumed 12,287 4,000 -
  1. Cities and population policy functions were assumed from the Department of the Prime Minister and Cabinet during 2017–18 due to amendments to the Administrative Arrangements Order on 20 December 2017.
  2. The water infrastructure policy function was assumed from the Department of Agriculture and Water Resources during 2017–18 following an announcement by the Prime Minister on 19 December 2017.
  3. There were no administered assets or liabilities assumed or relinquished.

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