Investor Presentaiton
Department of Health
Notes to the financial statements
For the year ended on 30 June 2023
6.4
Other assets
Current
Prepayments (a)
Total current assets
Non-current
Prepayments (a)
Total non-current assets
2023
2022
$'000
$'000
7,929
7,351
7,929
7,351
18
25
18
25
Total other assets at end of period
7,947
7,376
a) Other assets include prepayments which represent payments in advance of receipt of goods or services or that part of expenditure made in one accounting period
covering a term extending beyond that period. $4.2 million is included in prepayments to the National Blood Authority under the National Blood Agreement ($5.5 million in
2021-22).
6.5
Payables
Contents
Current
Trade payables
Accrued salaries
Accrued expenses
2023
2022
$'000
$'000
14,207
4,863
16,773
4,215
49,581
128,590
68,651
Total payables at end of period
Payables are recognised at the amounts payable when the department becomes obliged to make future payments as a result of a purchase of assets or services. The
carrying amount is equivalent to fair value as settlement is generally within 20 days.
149,578
Accrued salaries represent the amount due to staff but unpaid at the end of the reporting period. Accrued salaries are settled within a fortnight after the reporting period.
The department considers the carrying amount of accrued salaries to be equivalent to its fair value.
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