DEPARTMENT OF FISHERIES ANNUAL REPORT TO THE ...

DISCLOSURES AND LEgAL COMPLIANCE � NOTES TO THE FINANCIAL STATEMENTS
Interest rate sensitivity analysis
The following table represents a summary of the interest rate sensitivity of the Department’s
financial assets as at the end of the reporting period on the surplus for the period and
equity for a one per cent change in interest rates. It is assumed that the change in interest
rate is held constant throughout the reporting period.
The one per cent change in interest rates has no impact on the financial liabilities, and
hence the profit and equity, as payables do not attract interests and interest payable on the
financial lease is based on fixed interest rate.
-1% change +1% change
carrying Amount Profit equity Profit equity
$’000 $’000 $’000 $’000 $’000
2011
financial Assets
Cash Assets 4,922 (49) (49) 49 49
-1% change +1% change
carrying Amount Profit equity Profit equity
$’000 $’000 $’000 $’000 $’000
2010
financial Assets
Cash Assets 4,497 (45) (45) 45 45
fair values
All financial assets and liabilities recognised in the Statement of Financial Position, whether
they are carried at cost or fair value, are recognised at amounts that represent a reasonable
approximation of fair value unless otherwise stated in the applicable notes.
36 remuNerAtIoN of SeNIor offIcerS
remuneration
The number of senior officers, whose total of fees, salaries,
superannuation and other benefits received or due and receivable,
for the financial year, fall within the following bands are:
2011 2010
< $110,000 1 1
$120,001 - 130,000 – 1
$140,001 - 150,000 1 1
$150,001 - 160,000 – 1
$160,001 - 170,000 1 –
$170,001 - 180,000 1 1
$190,001 - 200,000 1 –
$270,001 - 280,000 – 1
$290,001 - 300,000 1 –
Total remuneration of senior officers 1,016 878
The remuneration includes the superannuation expense incurred
by the Department in respect of senior officers. No senior officers
are members of the Pension Scheme.
133
37 remuNerAtIoN of AudItor 2011 2010
Remuneration to the Auditor General for the financial year is as
follows:
$’000 $’000
Auditing the accounts, financial statements and performance
indicators
The expense is included in notes 7 and 25.
128 150
38 relAted BodIeS
The Department has no related bodies as defined in the Financial Management Act 2006 and
Treasurer’s Instruction 951.
39 AffIlIAted BodIeS
The Department has no related bodies as defined in the Financial Management Act 2006 and
Treasurer’s Instruction 951.
40 SuPPlemeNtAry fINANcIAl INformAtIoN
write-offs
During the financial year, debts due to the State were written off
under the authority of:
The Accountable Officer 29 4
29 4
During the financial year these assets were written off the
Department’s asset register under the authority of:
The Accountable Officer 3 38
Less: Recovered by Insurance (2) –
1 38
The Minister – 214
Less: Recovered by Insurance – 286
– (72)
Act of grace Payments
During the financial year, one act of grace payment was made
under the authority of:
The Minister 29 27
29 27