PUBLIC TRUSTEE FOR THE ACT
Objectives
The principal objective of the Public Trustee for the ACT is to provide the community with professional executor and trustee services, including the preparation of wills, enduring powers of attorney, estate administration and trust management.  The Public Trustee is also responsible for protecting the interests of people with a legal disability, where it has been appointed as financial manager or guardian.
The Public Trustee acts as an agent for the Territory in providing asset services under the Confiscation of Criminal Assets Act 2003, is the delegate for unclaimed moneys and holds the investment responsibility for government and non‑government trust funds, including the Perpetual Care Trust and the Capital Region Community Foundation.
2006-07 Priorities
Strategic and operational priorities to be pursued in 2006‑07 include:
•	undertaking a comprehensive marketing and promotion campaign to achieve a greater community presence; 
•	ensuring accountability and transparency in all transactions and decisions; 
•	improving service delivery to all members of the community by relocating to a ground floor location with close proximity to public transport and car‑parking, undertaking home visits and redesigning the website;
•	documenting business policies and practices to facilitate organisational succession and knowledge retention; and
•	finalising the upgrade of  IT infrastructure.

Changes to Appropriation
Changes to Appropriation - Departmental						
 	2005-06	2006-07	2007-08	2008-09	2009-10	
Government Payment for Outputs	Est. Outc.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2005-06 Budget	 - 	 - 	 - 	 - 	 - 	
						
2006-07 Budget Technical Adjustments						
Direct Appropriation	 - 	613	631	642	652	
						
2006-07 Budget	 - 	613	631	642	652	

Public Trustee for the ACT	
Operating Statement	
  2005-06			  2005-06	   2006-07		  2007-08	  2008-09	  2009-10		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
0		Government Payment for Outputs	0	613	#	631	642	652		
2,135		User Charges - Non ACT Government	2,300	2,380	3	2,495	2,600	2,660		
605		User Charges - ACT Government	605	0	-100	0	0	0		
135		Interest	150	155	3	158	161	165		
2,875		Total Revenue	3,055	3,148	3	3,284	3,403	3,477		
		Gains								
0		Total Gains	0	0	-	0	0	0		
2,875		Total Income	3,055	3,148	3	3,284	3,403	3,477		
		Expenses								
1,645		Employee Expenses	1,775	1,868	5	1,963	2,063	2,097		
226		Superannuation Expenses	240	275	15	295	316	327		
857		Supplies and Services	857	924	8	979	1,012	1,037		
0		Depreciation and Amortisation	0	1	#	0	1	0		
2,728		Total Ordinary Expenses	2,872	3,068	7	3,237	3,392	3,461		
147		Operating Result	183	80	-56	47	11	16		

Public Trustee for the ACT	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/06			as at 30/6/06	as at 30/6/07	   Var	as at 30/6/08	as at 30/6/09	as at 30/6/10		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
49		Cash	91	48	-47	82	73	78		
203		Receivables	203	247	22	291	335	379		
2,276		Investments	2,397	2,462	3	2,445	2,426	2,447		
15		Other	27	28	4	29	30	31		
2,543		Total Current Assets	2,718	2,785	2	2,847	2,864	2,935		
		Non Current Assets								
0		Property, Plant and Equipment	10	9	-10	9	8	8		
0		Total Non Current Assets	10	9	-10	9	8	8		
2,543		TOTAL ASSETS	2,728	2,794	2	2,856	2,872	2,943		
		Current Liabilities								
38		Payables	65	78	20	91	104	117		
218		Employee Benefits	167	210	26	231	225	247		
73		Other Provisions	91	40	-56	23	5	8		
329		Total Current Liabilities	323	328	2	345	334	372		
		Non Current Liabilities								
316		Employee Benefits	373	394	6	415	436	461		
316		Total Non Current Liabilities	373	394	6	415	436	461		
645		TOTAL LIABILITIES	696	722	4	760	770	833		
1,898		NET ASSETS	2,032	2,072	2	2,096	2,102	2,110		
		REPRESENTED BY FUNDS EMPLOYED								
1,898		Accumulated Funds	2,032	2,072	2	2,096	2,102	2,110		
1,898		TOTAL FUNDS EMPLOYED	2,032	2,072	2	2,096	2,102	2,110		

Public Trustee for the ACT	
Cash Flow Statement	
  2005-06			  2005-06	   2006-07		  2007-08	  2008-09	  2009-10		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
0		Cash from Government for Outputs	0	198	#	203	207	210		
0		Cash from Government - CSO Payments	0	415	#	428	435	442		
2,705		User Charges	2,870	2,344	-18	2,460	2,569	2,629		
126		Interest Received	141	146	4	148	147	151		
170		Other Revenue	170	170	-	170	170	175		
3,001		Operating Receipts	3,181	3,273	3	3,409	3,528	3,607		
		Payments								
1,840		Related to Employees	1,984	2,079	5	2,216	2,364	2,377		
850		Related to Supplies and Services	850	916	8	971	1,004	1,029		
165		Other	165	165	-	165	165	170		
2,855		Operating Payments	2,999	3,160	5	3,352	3,533	3,576		
146		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	182	113	-38	57	-5	31		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Payments								
18		Dividends to Government	133	91	-32	40	23	5		
18		Financing Payments	133	91	-32	40	23	5		
-18		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	-133	-91	32	-40	-23	-5		
128		NET INCREASE/(DECREASE) IN CASH HELD	49	22	-55	17	-28	26		
2,197		CASH AT BEGINNING OF REPORTING PERIOD	2,439	2,488	2	2,510	2,527	2,499		
2,325		CASH AT THE END OF THE REPORTING PERIOD	2,488	2,510	1	2,527	2,499	2,525		

Public Trustee for the ACT	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/06			as at 30/6/06	as at 30/6/07	   Var	as at 30/6/08	as at 30/6/09	as at 30/6/10		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
1,824		Opening Balance	1,940	2,032	5	2,072	2,096	2,102		
		Accumulated Funds								
147		Operating Result for the Period	183	80	-56	47	11	16		
		Reserves								
147		Total Income And Expense For The Period	183	80	-56	47	11	16		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
-73		Dividend Approved	-91	-40	56	-23	-5	-8		
1,898		Closing Balance	2,032	2,072	2	2,096	2,102	2,110		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	government payment for outputs and user charges – ACT Government: the variances between the 2006‑07 Budget and the 2005‑06 estimated outcome relates to Public Trustee being directly appropriated from 2006‑07;
•	user charges – non ACT Government:  the increase of $0.165 million in the 2005‑06 estimated outcome from the original budget and the increase of $0.080 million in the 2006‑07 Budget from the 2005‑06 estimated outcome is due to an increase in the number of clients managed by the office and the value of assets under the Public Trustee’s control; 
•	employee expenses and superannuation:  the increase of $0.144 million in the 2005‑06 estimated outcome from the original budget and the increase of $0.128 million in the 2006‑07 Budget from the 2005‑06 estimated outcome are due to additional staffing requirements to meet increased business activity and an increase in the rate of employer superannuation contributions from 2006‑07; and
•	supplies and services:  the increase of $0.067 million in the 2006‑07 Budget from the 2005‑06 estimated outcome is primarily due to increased marketing efforts and relocation costs.
Balance Sheet
•	employee benefits:  the increase of  $0.064 million in the 2006‑07 Budget from the 2005‑06 estimated outcome is due to an increase in leave provisions associated with the filling of vacant positions and higher levels of current staff now accruing long service leave. 
Cashflow Statement
•	dividend paid:  the public trustee, in an agreement with the ACT Government, provides a dividend of fifty percent of net profit to the Government each financial year.