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  1. About the report
  2. About AMSA
  3. Plan on a Page
  4. Transmittal letter
  5. Reporting requirements and responsible minister
  6. Annual performance statements
  7. Chairman's review
  8. Organisational profile
  9. Financial summary
  10. Our governance
    1. Planning
    2. Risk management
    3. Performance reporting
    4. Related entity transactions
    5. Public interest disclosure
    6. Disability report
    7. Statement of significant non-compliance issues
    8. Advertising and market research
    9. Judicial decisions and reviews by outside bodies
    10. Workers' compensation premium
  11. Vessel and seafarer safety
    1. Seafarer certification
    2. Compliance and enforcement
    3. International shipping
    4. Domestic commercial vessels
  12. Search and rescue
    1. Search and rescue aircraft replacement
    2. National Search and Rescue Council
    3. Medium-altitude Earth Orbit Search and Rescue system
    4. Beacon registration system upgrade
    5. Torres Strait Marine Safety Program
  13. Marine environment
    1. The National Plan for Maritime Environmental Emergencies
    2. Cape Upstart marine pollution incident
    3. Working with other regulators
  14. Navigation safety
    1. Shipping management
    2. Aids to navigation management
  15. Working with our community
    1. Domestic engagement
    2. International engagement
    3. Regional engagement
  16. Appendix 1: Financial statements
    1. Statement of comprehensive income
    2. Statement of financial position
    3. Statement of changes in equity
    4. Cash flow statement
    5. Overview
    6. Note 1: Expenses
    7. Note 2: Own-source income
    8. Note 3: Fair value measurement
    9. Note 4: Financial assets
    10. Note 5: Non-financial assets
    11. Note 6: Payables
    12. Note 7: Interest bearing liabilities
    13. Note 8: Provisions
    14. Note 9: Cash flow reconciliation
    15. Note 10: Contingent liabilities and assets
    16. Note 11: Senior management personnel remuneration
    17. Note 12: Related party disclosures
    18. Note 13: Remuneration of auditors
    19. Note 14: Financial instruments
    20. Note 15: Financial assets reconciliation
    21. Note 16: Reporting of outcomes
    22. Note 17: Regulatory charging summary
    23. Note 18: Budgetary reports and explanations of major variances
  17. Appendix 2: Non-financial performance
    1. SC1: Ship and vessel safety
    2. SC1: Environment protection
    3. SC1: Regulatory
    4. SC1: Search and rescue
    5. SC1: Projects
    6. SC2: Preparing for the future
    7. SC3: Ensuring a competent and fairly treated maritime workforce
    8. SC4: Influencing international arrangements
    9. SC5: Engaging with the community
    10. SC6: Ensuring a progressive and vibrant organisation
  18. Appendix 3: AMSA Board members
  19. References
  20. Compliance Index
  1. About the report
  2. About AMSA
  3. Plan on a Page
  4. Transmittal letter
  5. Reporting requirements and responsible minister
  6. Annual performance statements
  7. Chairman's review
  8. Organisational profile
  9. Financial summary
  10. Our governance
    1. Planning
    2. Risk management
    3. Performance reporting
    4. Related entity transactions
    5. Public interest disclosure
    6. Disability report
    7. Statement of significant non-compliance issues
    8. Advertising and market research
    9. Judicial decisions and reviews by outside bodies
    10. Workers' compensation premium
  11. Vessel and seafarer safety
    1. Seafarer certification
    2. Compliance and enforcement
    3. International shipping
    4. Domestic commercial vessels
  12. Search and rescue
    1. Search and rescue aircraft replacement
    2. National Search and Rescue Council
    3. Medium-altitude Earth Orbit Search and Rescue system
    4. Beacon registration system upgrade
    5. Torres Strait Marine Safety Program
  13. Marine environment
    1. The National Plan for Maritime Environmental Emergencies
    2. Cape Upstart marine pollution incident
    3. Working with other regulators
  14. Navigation safety
    1. Shipping management
    2. Aids to navigation management
  15. Working with our community
    1. Domestic engagement
    2. International engagement
    3. Regional engagement
  16. Appendix 1: Financial statements
    1. Statement of comprehensive income
    2. Statement of financial position
    3. Statement of changes in equity
    4. Cash flow statement
    5. Overview
    6. Note 1: Expenses
    7. Note 2: Own-source income
    8. Note 3: Fair value measurement
    9. Note 4: Financial assets
    10. Note 5: Non-financial assets
    11. Note 6: Payables
    12. Note 7: Interest bearing liabilities
    13. Note 8: Provisions
    14. Note 9: Cash flow reconciliation
    15. Note 10: Contingent liabilities and assets
    16. Note 11: Senior management personnel remuneration
    17. Note 12: Related party disclosures
    18. Note 13: Remuneration of auditors
    19. Note 14: Financial instruments
    20. Note 15: Financial assets reconciliation
    21. Note 16: Reporting of outcomes
    22. Note 17: Regulatory charging summary
    23. Note 18: Budgetary reports and explanations of major variances
  17. Appendix 2: Non-financial performance
    1. SC1: Ship and vessel safety
    2. SC1: Environment protection
    3. SC1: Regulatory
    4. SC1: Search and rescue
    5. SC1: Projects
    6. SC2: Preparing for the future
    7. SC3: Ensuring a competent and fairly treated maritime workforce
    8. SC4: Influencing international arrangements
    9. SC5: Engaging with the community
    10. SC6: Ensuring a progressive and vibrant organisation
  18. Appendix 3: AMSA Board members
  19. References
  20. Compliance Index

Note 2: Own-source income

  2016 2015
  $’000 $’000

OWN-SOURCE REVENUE

 

 

Note 2A: Sale of Goods and Rendering of Services

Sale of goods in connection with

External parties

93

127

Total sale of goods

93

127

Rendering of services in connection with

Related entities

542

2,262

External parties

16,166

13,953

Total rendering of services

16,708

16,215

Total sale of goods and rendering of services

16,801

    16,342

Accounting Policy
Revenue from the sale of goods is recognised when:

  • the risks and rewards of ownership have been transferred to the buyer
  • AMSA retains no managerial involvement or effective control over the goods
  • the revenue and transaction costs incurred can be reliably measured
  • it is probable that the economic benefits associated with the transaction will flow to AMSA.

Revenue from rendering of services is recognised by reference to the stage of completion of contracts at the reporting date. The revenue is recognised when:

  • the amount of revenue, stage of completion and transaction costs incurred can be reliably measured
  • the probable economic benefits associated with the transaction will flow to AMSA.

The stage of completion of contracts at the reporting date is determined by reference to the proportion that costs incurred to date bear to the estimated total costs of the transaction.

Receivables for goods and services, which have 30 day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable.

  2016 2015
  $’000 $’000

Note 2B: Fees and Fines

Fines

               42

                76

Total fees and fines

42

76

Note 2C: Interest

Deposits

2,089

2,092

Total interest

2,089

2,092

Accounting Policy

Interest revenue is recognised using the effective interest method.

  2016 2015
  $’000 $’000

Note 2D: Rental Income

Operating lease:

Sublease - related entities

690

478

Sublease - external parties

447

355

Total rental income

1,137

833

Subleasing rental income commitments
AMSA in its capacity as lessor subleases office space and car parking as well as subleasing space at various aids to navigations and storage sites around Australia. All sub leases are subject to a variety of arrangements, including fixed percentage increases, movements in the Consumer Price Index and adjustments of subleases to current market levels. Some subleases include renewal clauses.

Commitments for sublease rental income receivables are as follows:

  2016 2015
  $’000 $’000

Within 1 year

475

881

Between 1 to 5 years

597

898

Total sublease rental income commitments

1,072

1,779

Sub Leasing commitments are GST inclusive where relevant.

  2016 2015
  $’000 $’000

Note 2E: Other Revenue

Insurance recoveries and settlements

5,231

560

Total other revenue

5,231

560

GAINS

 

 

Note 2F: Reversals of Previous Asset Write-Downs and Impairments

Asset revaluation increment

 

 

Reversal of impairment for receivables recovered

-

2

Total reversals of previous asset write-downs and impairments

-

2

Note 2G: Foreign Exchange Gain

Non-speculative

1

2

Total foreign exchange gains

1

2

REVENUE FROM GOVERNMENT

 

 

Note 2H: Revenue from Government

Department of Infrastructure and Regional Development

Corporate Commonwealth Entity payment item

176,808

182,449

Total revenue from Government

176,808

182,449

Represented by:

Levy revenue:  Australian Maritime Safety Act 1990. s48

Marine Navigation Levy

32,745

32,314

Marine Navigation (Regulatory Functions) Levy

49,195

48,349

Protection of the Sea Levy

32,723

31,268

Services provided on behalf of the Government

58,650

65,284

Other

3,495

5,234

 

176,808

182,449

Accounting Policy
Funding received or receivable from non-corporate Commonwealth entities (appropriated to the Department of Infrastructure and Regional Development as a corporate Commonwealth entity payment item for payment to AMSA) is recognised as revenue from government by AMSA unless the funding is in the nature of an equity injection or a loan.