GLOSSARY
Cash
Includes those assets that can readily be converted to cash. Examples are petty cash, short term deposits, and funds lodged with NT Treasury.
Charges
Includes those levied for services provided. In NT the major charge by municipalities is for garbage collection; in CGCs and IIAs where rates are not applied, charges are made for services including water and sewerage. Also includes licences, fees and sales of goods and services.
Creditors
Monies owed for services already provided.
Depreciation
A systematic charging of expenses associated with the use of a local government controlled asset over its lifetime.
Employee Costs
Includes wages and salaries and supplements to wages and salaries and superannuation. Wages and salaries charged to capital works are included in capital or fixed asset costs.
Fines
Fines are civil and criminal penalties imposed for breaking a law or regulation, for example parking fines. Fees are now treated as charges or sale of goods and services and are no longer included in this category.
Government grants
Current and capital payments from other units in-scope of GFS for which nothing is given directly in return. This category is further classified to indicate whether grants received are used to fund Northern Territory Government operations or are Commonwealth grants onpassed or received directly.
Loans
Monies borrowed by the local government body to finance a project or an asset.
Operating costs
The other expenditure items found in the Operating Statement except those separately identified. They include items such as stationery, telephone, accounting fees, rent and general repairs and maintenance.
Other non-current assets
This includes intangible assets such as copyrights and land where it is separately identified.
Other revenue
This category includes revenue not shown elsewhere. It mainly comprises:
contributions and donations,
land rent and royalties received,
dividends received from investments
reimbursement for work done on behalf of other public bodies, for example work done by CGCs and IIAs for the Power and Water Authority, and
contributions from property owners for works undertaken, for example contribution for sealing the road in front of a property to a municipality.
Property, plant and equipment
Also called fixed and tangible assets. These are assets owned by the local government body that will be utilised for more than one year. Examples are motor vehicles, computers, buildings, homes, and generators. Assets acquired via a financial lease are reported under this item.
Provision for leave
These are the entitlements owing to employees of the local government body; for example sick leave, recreation leave and long service leave. It does not include Provision for Superannuation.
Receivables
These are monies owed for services performed, for example if a CGC has performed a maintenance job for Power and Water Authority, but has not been paid.
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