Skip to Content

Note 17. Special Accounts and FMA Act Section 39

Note 17A: Special Accounts (Recoverable GST exclusive)
  Defence Service Homes Insurance Account
  2013 2012
$’000 $’000
Balance brought forward from previous period 1,550 1,834
Premiums received 34,996 30,762
Other receipts 5,354 21,898
Investments credited to the special account 9,300 12,600
Total increases 49,650 65,260
Available for payments 51,200 67,094
Decreases:    
Departmental    
Claim payments (27,840) (36,858)
Reinsurance premiums paid (7,225) (5,999)
Other payments (8,260) (8,087)
Investments made from the special account (FMA Act section 39) (6,000) (14,600)
Total Departmental decreases (49,325) (65,544)
Total balance carried to the next period 1,875 1,550

Appropriation: Financial Management and Accountability Act 1997, s21

Establishing Instrument: Defence Service Homes Act 1918, s40

Purpose: To make all payments by the Commonwealth in connection with its activities as insurer under Defence Service Homes Act 1918, s40.

Note 17B: Investments Made under section 39 of the FMA Act (Recoverable GST exclusive)
  Balance brought forward from previous period Investments made Investment income Movement in fair value Investments realised Total balance carried to the next period
  $’000 $’000 $’000 $’000 $’000 $’000
Defence Services Homes Insurance Reserve 48,746 6,000 1,601 (117) (9,300) 46,930
Note 17B: Investments Made under section 39 of the FMA Act (Recoverable GST exclusive)
  Balance brought forward from previous period Investments made Investment income Movement in fair value Investments realised Total balance carried to the next period
  $’000 $’000 $’000 $’000 $’000 $’000
Defence Services Homes Insurance Reserve 44,817 14,600 2,137 (208) (12,600) 48,746

Back to top

Average: 1 (3 votes)