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Objectives
The principle objective of
the Public Trustee for the ACT is to provide the Canberra community with professional
executor and trustee services, including the preparation of wills, estate administration,
trust management and powers of attorney. The Office also plays an important role in
protecting the interests of people under a legal, physical or intellectual disability in
instances where the Office is appointed to act as manager of property or as guardian of
the estate of any person in the community unable for the time being to do so for
themselves.
The Office also acts as
agent of the Territory in providing assets services under the Proceeds of Crime
Legislation.
1999-2000 Highlights
Strategic and operational
issues to be pursued in 1999-2000 include:
- continuing the public awareness program
in the Community, marketing the range of services provided by the Office with a particular
emphasis on working with the ACT Council of the Ageing in supporting the International
Year of the Older Person;
- continuing to meet the strategies of the
Public Trustee Business Plan;
- developing a culture within the Office
with the emphasis given to improved customer service and individual accountability;
- continuing the review of the office
information technology requirements ensuring they are Year 2000 compliant; and
- developing information technology to
ensure that it meets the needs of the office in an efficient and effective manner.
| Budget
Summary |
1999-2000
Planned |
| Government
Funding |
|
- Community Service Obligations
|
182 |
- Service Purchase Payments
|
16 |
| Revenues |
|
|
|
1 045 |
| Services
Provided |
|
- Wills - preparation and safe keeping
|
|
- Deceased estate administration
|
|
- Trusts - court and estates
|
|
- Financial management under:
- Guardianship and Management of
Property Orders
- Power of Attorney |
|
- Proceeds of crime assets services
|
|
- Examination of external management
accounts
|
|
- Funeral arrangements and AFP callouts
|
|
| Total cost of
services provided |
1 169 |
Public Trustee for
the ACT
Operating Statement
1998-99 |
|
|
1998-99 |
1999-00 |
|
2000-01 |
2001-02 |
2002-03 |
Budget |
|
|
Est.Outcome |
Budget |
Var |
Estimate |
Estimate |
Estimate |
$'000 |
|
|
$'000 |
$'000 |
% |
$'000 |
$'000 |
$'000 |
| |
|
Revenue |
|
|
|
|
|
|
896 |
|
User Charges - Non ACT Government
|
1 051 |
990 |
-6 |
1 021 |
1 038 |
1 051 |
198 |
|
User Charges - ACT Government
|
198 |
198 |
- |
198 |
198 |
198 |
47 |
|
Interest
|
60 |
55 |
-8 |
57 |
59 |
61 |
1 141 |
|
Total
Revenue |
1 309 |
1 243 |
-5 |
1 276 |
1 295 |
1 310 |
| |
|
Expenses |
|
|
|
|
|
|
689 |
|
Employee Expenses
|
749 |
766 |
2 |
790 |
813 |
838 |
92 |
|
Superannuation Expenses
|
95 |
99 |
4 |
102 |
105 |
108 |
283 |
|
Administrative Expenses
|
343 |
304 |
-11 |
310 |
319 |
328 |
2 |
|
Depreciation and Amortisation
|
1 |
0 |
-100 |
0 |
0 |
0 |
1 066 |
|
Total
Expenses |
1 188 |
1 169 |
-2 |
1 202 |
1 237 |
1 274 |
75 |
|
Operating
Result |
121 |
74 |
-39 |
74 |
58 |
36 |
939 |
|
Accumulated
Funds - Start of Period |
987 |
1 108 |
12 |
1 182 |
1 256 |
1 314 |
1 014 |
|
Accumulated
Funds - End of Period |
1 108 |
1 182 |
7 |
1 256 |
1 314 |
1 350 |
Public Trustee for
the ACT
Statement Of Financial Position
Budget |
|
|
Est.Outcome |
Planned |
|
Planned |
Planned |
Planned |
as at 30/6/99 |
|
|
as at 30/6/99 |
as at 30/6/00 |
Var |
as at 30/6/01 |
as at 30/6/02 |
as at 30/6/03 |
$'000 |
|
|
$'000 |
$'000 |
% |
$'000 |
$'000 |
$'000 |
| |
|
Current
Assets |
|
|
|
|
|
|
35 |
|
Cash
|
16 |
12 |
-25 |
19 |
18 |
45 |
30 |
|
Receivables
|
44 |
44 |
- |
44 |
46 |
43 |
1 200 |
|
Investments
|
1 310 |
1 360 |
4 |
1 430 |
1 480 |
1 480 |
1 265 |
|
Total
Current Assets |
1 370 |
1 416 |
3 |
1 493 |
1 544 |
1 568 |
1 265 |
|
TOTAL
ASSETS |
1 370 |
1 416 |
3 |
1 493 |
1 544 |
1 568 |
| |
|
Current
Liabilities |
|
|
|
|
|
|
25 |
|
Creditors
|
24 |
24 |
- |
24 |
26 |
8 |
108 |
|
Employee Entitlements
|
110 |
87 |
-21 |
90 |
93 |
99 |
0 |
|
Other
|
11 |
11 |
- |
11 |
0 |
0 |
133 |
|
Total
Current Liabilities |
145 |
122 |
-16 |
125 |
119 |
107 |
| |
|
Non
Current Liabilities |
|
|
|
|
|
|
77 |
|
Employee Entitlements
|
87 |
96 |
10 |
110 |
111 |
111 |
41 |
|
Other
|
30 |
16 |
-47 |
2 |
0 |
0 |
118 |
|
Total Non
Current Liabilities |
117 |
112 |
-4 |
112 |
111 |
111 |
251 |
|
TOTAL
LIABILITIES |
262 |
234 |
-11 |
237 |
230 |
218 |
1 014 |
|
NET ASSETS |
1 108 |
1 182 |
7 |
1 256 |
1 314 |
1 350 |
| |
|
REPRESENTED
BY FUNDS EMPLOYED |
|
|
|
|
|
|
1 014 |
|
Accumulated Funds
|
1 108 |
1 182 |
7 |
1 256 |
1 314 |
1 350 |
1 014 |
|
TOTAL
FUNDS EMPLOYED |
1 108 |
1 182 |
7 |
1 256 |
1 314 |
1 350 |
Public Trustee for
the ACT
Cashflow Statement
1998-99 |
|
|
1998-99 |
1999-00 |
|
2000-01 |
2001-02 |
2002-03 |
Budget |
|
|
Est.Outcome |
Budget |
Var |
Estimate |
Estimate |
Estimate |
$'000 |
|
|
$'000 |
$'000 |
% |
$'000 |
$'000 |
$'000 |
35 |
|
CASH AT
BEGINNING OF REPORTING PERIOD |
1 201 |
1 326 |
10 |
1 372 |
1 449 |
1 498 |
| |
|
CASH FLOWS
FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
| |
|
Receipts |
|
|
|
|
|
|
1 094 |
|
User Charges
|
1 249 |
1 188 |
-5 |
1 219 |
1 238 |
1 252 |
47 |
|
Interest Received
|
60 |
55 |
-8 |
57 |
59 |
61 |
1 141 |
|
Operating
Receipts |
1 309 |
1 243 |
-5 |
1 276 |
1 297 |
1 313 |
| |
|
Payments |
|
|
|
|
|
|
764 |
|
Related to Employees
|
827 |
879 |
6 |
875 |
916 |
940 |
297 |
|
Related to Administration
|
357 |
318 |
-11 |
324 |
332 |
346 |
1 061 |
|
Operating
Payments |
1 184 |
1 197 |
1 |
1 199 |
1 248 |
1 286 |
80 |
|
NET CASH
INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES |
125 |
46 |
-63 |
77 |
49 |
27 |
| |
|
CASH FLOWS
FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
| |
|
Payments |
|
|
|
|
|
|
80 |
|
Purchase of Investments
|
0 |
0 |
- |
0 |
0 |
0 |
80 |
|
Investing
Payments |
0 |
0 |
- |
0 |
0 |
0 |
-80 |
|
NET CASH
INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES |
0 |
0 |
- |
0 |
0 |
0 |
| |
|
CASH FLOWS
FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
0 |
|
NET CASH
INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES |
0 |
0 |
- |
0 |
0 |
0 |
0 |
|
NET
INCREASE/(DECREASE) IN CASH HELD |
125 |
46 |
-63 |
77 |
49 |
27 |
35 |
|
CASH AT
THE END OF THE REPORTING PERIOD |
1 326 |
1 372 |
3 |
1 449 |
1 498 |
1 525 |
Notes to the Budget
Statements
Operating Statement
Significant variations are as follows:
- user charges - non ACT Government: the
reduction in sales in 1999-2000 of $0.061m is due to a downward trend in high value
estates and trusts received in comparison with the 1998-99 estimated outcome. The 1998-99
estimated outcome is unusually high.
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