Annual Report 2010–2011, Part 2: Financial (1.8 ... - Tourism Victoria

NOTES TO THE FINANCIAL STATEMENTS CONTINUED
30 JUNE 2011
Note 9. Provisions
2011 2010
$ $
Employee benefits and related on-costs
Current employee benefits
Employee benefits (Note 9 (a)) - annual leave entitlements (i):
Unconditional and expected to settle within 12 months (ii) 631,729 549,803
Employee benefits (Note 9 (a)) - long service leave entitlements:
Unconditional and expected to settle within 12 months (iii) 76,986 80,726
Unconditional and expected to settle after 12 months (iii) 1,462,742 1,297,503
2,171,457 1,928,031
Provisions related to employee benefit on-costs (Note 9 (a))
Unconditional and expected to settle within 12 months (ii) 120,144 97,009
Unconditional and expected to settle after 12 months (iii) 224,362 208,182
344,506 305,191
Total current provisions 2,515,963 2,233,222
Non-current employee benefits
Conditional long service leave (i) 105,363 236,282
Conditional long service leave on-costs (Note 9 (a)) 25,400 37,569
Total non-current provisions 130,763 273,851
Total provisions 2,646,726 2,507,073
(i) The amounts disclosed are nominal amounts.
(ii) The amounts disclosed are discounted to present values.
(a) Employee benefits and related on-costs
Current employee benefits
Annual leave entitlements 740,064 635,855
Unconditional long service leave entitlements 1,775,899 1,597,367
Non-current employee benefits
Conditional long service leave entitlements 130,763 273,851
Total employee benefits 2,646,726 2,507,073
On-costs
Current on-costs 344,506 305,191
Non-current on-costs 25,400 37,569
Total on-costs 369,906 342,760
(i) Provisions for employee benefits consist of amounts for annual leave and long service leave accrued by employees, not including on-costs.
(ii) The amounts disclosed are nominal amounts.
(iii) The amounts disclosed are discounted to present values.
42 TOURISM VICTORIA ANNUAL REPORT 2010–11