clean energy regulatorstatement of comprehensive income ... · purchase of intangibles 10,244...

Annual Report 2013–14 8787

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Clean Energy RegulatorStatement of comprehensive incomefor the period ended 30 June 2014

Notes2014$'000

2013$'000

NET COST OF SERVICESExpenses

Employee benefits 3A 39,684 40,679 Suppliers 3B 37,477 38,752 Depreciation and amortisation 3C 16,585 13,030 Finance costs 3D 53 30Write-down and impairment of assets 3E 731 2,524 Losses from asset sales 3F - 123

Total expenses 94,530 95,138

Own-source incomeOwn-source revenue

Sale of goods and rendering of services 4A 594 429Total own-source revenue 594 429

GainsOther gains 4B 813 1,181

Total gains 813 1,181 Total own-source income 1,407 1,610 Net contribution by services 93,123 93,528

Revenue from Government 4C 81,353 78,799

Deficit (11,770) (14,729)

OTHER COMPREHENSIVE INCOMEItems not subject to subsequent reclassification to net cost of services

Changes in asset revaluation surplus 302 3,581 Total other comprehensive income before income tax 302 3,581 Total comprehensive loss (11,468) (11,148)

The above statement should be read in conjunction with the accompanying notes.

Clean Energy Regulator8888

Clean Energy RegulatorStatement of financial positionas at 30 June 2014

Notes 2014$'000

2013$'000

ASSETSFinancial assets

Cash and cash equivalents 6A 306 297Trade and other receivables 6B 24,044 23,373 Other financial assets 6C - 162

Total financial assets 24,350 23,832

Non-financial assetsLand and buildings 7A,C 6,209 7,447 Property, plant and equipment 7B,C 870 950Intangibles 7D,E 37,732 44,266 Other non-financial assets 7F 639 373

Total non-financial assets 45,450 53,036 Total assets 69,800 76,868

LIABILITIESPayables

Suppliers 8A 3,939 11,167 Other payables 8B 1,492 1,342

Total payables 5,431 12,509

ProvisionsEmployee provisions 9A 9,552 9,431 Other provisions 9B 1,827 1,407

Total provisions 11,379 10,838

Total liabilities 16,810 23,347 Net assets 52,990 53,521

EQUITYContributed equity 76,935 65,998 Reserves 3,883 3,581 Accumulated deficit (27,828) (16,058)

Total equity 52,990 53,521



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Clean Energy Regulator

Notes 2014$'000

2013$'000

OPERATING ACTIVITIESCash received

Appropriations 86,685 84,687 Sale of goods and rendering of services 1,186 96Net GST received 3,975 6,450

Total cash received 91,846 91,233

Cash usedEmployees 39,570 40,683 Suppliers 46,757 45,753 Section 31 receipts transferred to Official Public Account 4,838 759

Total cash used 91,165 87,195 Net cash from operating activities 10 681 4,038

INVESTING ACTIVITIESCash used

Purchase of property, plant and equipment 3 1,742 Purchase of intangibles 10,244 37,046

Total cash used 10,247 38,788 Net cash used by investing activities (10,247) (38,788)

FINANCING ACTIVITIESCash received

Contributed equity 9,575 34,756 Total cash received 9,575 34,756 Net cash from financing activities 9,575 34,756

Net increase in cash held 9 6Cash and cash equivalents at the beginning of the reporting period 297 291Cash and cash equivalents at the end of the reporting period 6A 306 297


Cash flow statementfor the period ended 30 June 2014


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Clean Energy RegulatorSchedule of commitmentsas at 30 June 2014

2014$'000

2013$'000

BY TYPECommitments receivable

Net GST recoverable on commitments1 4,335 3,193 Total commitments receivable 4,335 3,193

Commitments payableCapital commitments

Intangibles2 1,102 5,805 Total capital commitments 1,102 5,805

Other commitmentsOperating leases3 12,123 15,415 Other4 35,232 14,502

Total other commitments 47,355 29,917 Total commitments payable 48,457 35,722 Net commitments by type 44,122 32,529

BY MATURITYCommitments receivable

Within 1 year 1,929 1,593 Between 1 to 5 years 2,406 1,600

Total commitments receivable 4,335 3,193

Commitments payableCapital commitments

Within 1 year 1,102 5,805 Total capital commitments 1,102 5,805

Operating lease commitmentsWithin 1 year 4,068 3,715 Between 1 to 5 years 8,055 11,700

Total operating lease commitments 12,123 15,415

Other commitmentsWithin 1 year 16,785 8,606 Between 1 to 5 years 18,447 5,896

Total other commitments 35,232 14,502 Total commitments payable 48,457 35,722 Net commitments by maturity 44,122 32,529 1. Commitments are GST inclusive where relevant.2. Intangible commitments relate to CER contracts for internally developed software.3. Operating leases included were effectively non-cancellable.

The above schedule should be read in conjunction with the accompanying notes.

4. Other commitments primarily relate to CER contracts for IT Hosting and Data Migration.Note: The CER in its capacity as lessee has one lease for office accommodation. Lease payments are subject to an annual increase at a fixed rate. There are no options for renewal.


Clean Energy RegulatorAdministered schedule of comprehensive incomefor the period ended 30 June 2014

Notes2014$'000

2013$'000

NET COST OF SERVICESEXPENSES

Suppliers 16A 3,232 4,270 Subsidies 16B 1,297,440 937,744 Write-down and impairment of assets 16C 43,166 209

Total expenses 1,343,838 942,223

IncomeRevenueTaxation revenue

Other taxes 17A 4,397,535 5,048,229 Total taxation revenue 4,397,535 5,048,229

Non-taxation revenueFees and fines 17B 13,297 19,383

Total non-taxation revenue 13,297 19,383 Total revenue 4,410,832 5,067,612 Total income 4,410,832 5,067,612 Net contribution by services 3,066,994 4,125,389

Total other comprehensive income before income tax - - Total comprehensive income 3,066,994 4,125,389



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Clean Energy RegulatorAdministered schedule of assets and liabilitiesas at 30 June 2014

Notes2014$'000

2013$'000


Cash and cash equivalents 18A 1,012 1,305 Taxation receivables 18B 1,403,556 1,417,729 Trade and other receivables 18C 64 81

Total financial assets 1,404,632 1,419,115 Total assets administered on behalf of Government 1,404,632 1,419,115

LIABILITIESPayables

Suppliers 19A 351 3,667 Total payables 351 3,667

ProvisionsOther provisions 20A 292,410 231,413

Total provisions 292,410 231,413 Total liabilities administered on behalf of Government 292,761 235,080 Net assets 1,111,871 1,184,035



Clean Energy RegulatorAdministered reconciliation scheduleas at 30 June 2014

2013$'000

Opening assets less liabilities as at 1 July 1,184,035 270Net contribution by services

Income 4,410,832 5,067,612 Expenses Payment to Non-CAC Act bodies (1,343,838) (942,223)

Transfers (to)/from the Australian GovernmentAppropriation transfers from Official Public AccountAnnual appropriations Payments to Non-CAC Act bodies 1,256,463 710,188 Appropriation transfers to Official Public Account

Transfers to Official Public Account (4,395,621) (3,651,812)Closing assets less liabilities as at 30 June 1,111,871 1,184,035


2014$'000Notes


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Clean Energy RegulatorAdministered cash flow statementfor the period ended 30 June 2014

2013$'000

OPERATING ACTIVITIESCash received

Taxes 4,367,769 3,631,103 Fees 13,807 19,174 Net GST received 491 406

Total cash received 4,382,067 3,650,683

Cash usedSuppliers 4,457 5,826 Subsidies 1,238,747 704,029

Total cash used 1,243,204 709,855 Net cash from operating activities 21 3,138,863 2,940,828 Net increase in cash held 3,138,863 2,940,828

Cash and cash equivalents at the beginning of the reporting period 1,305 2,101 Cash from Official Public Account

Appropriations 1,256,465 710,188 Total cash from Official Public Account 1,256,465 710,188

Cash to Official Public AccountAppropriations (4,395,621) (3,651,812)

Total cash to Official Public Account (4,395,621) (3,651,812)Cash and cash equivalents at the end of the reporting period 18A 1,012 1,305

This schedule should be read in conjunction with the accompanying notes.

2014$'000Notes


Clean Energy RegulatorSchedule of administered commitmentsas at 30 June 2014

2014$'000

2013$'000

BY TYPECommitments receivable

Net GST recoverable on commitments1 35 - Total commitments receivable 35 -

Commitments payableOthers2 382 - Buy-back of carbon units3 - 1,033,136

Total commitments payable 382 1,033,136 Net commitments by type 347 1,033,136

BY MATURITYCommitments receivable

Within 1 year 35 - Total commitments receivable 35 -

Commitments payableWithin 1 year 382 503,537 Between 1 to 5 years - 529,599

Total commitments payable 382 1,033,136 Net commitments by maturity 347 1,033,136

1. Commitments are GST inclusive where relevant.2. Other commitments relates to inspection and audit services for solar photovoltaic systems.

This schedule should be read in conjunction with the accompanying notes.

3. Under the Energy Security Fund the CER provides assistance to highly emissions-intensive coal-fired electricity generators in the form of the issue of 41,705,000 carbon units in the years 2013-14 to 2016-17. The CER has issued certificates of eligibility for coal-fired generation assistance to eligible companies. The commitment represents the units expected to be offered for buy-back during the fixed price period for the unit holding balance as at 30 June 2014. In the 2013-14 period there were no buy-backs of carbon units resulting from the legislations being repealed.


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Table of contents - notes

Note 1: Summary of significant accounting policies

Note 2: Events after the reporting period

Note 3: Expenses

Note 4: Own-source income

Note 5: Fair value measurements

Note 6: Financial assets

Note 7: Non-financial assets

Note 8: Payables

Note 9: Provisions

Note 10: Cash flow reconciliation

Note 11: Contingent assets and liabilities

Note 12: Senior executive remuneration

Note 13: Remuneration of auditors

Note 14: Financial instruments

Note 15: Financial assets reconciliation

Note 16: Administered - expenses

Note 17: Administered - income

Note 18: Administered - financial assets

Note 19: Administered - payables

Note 20: Administered - provisions

Note 21: Administered - cash flow reconciliation

Note 22: Administered - contingent assets and liabilities

Note 23: Administered - financial instruments

Note 24: Administered - financial assets reconciliation

Note 25: Appropriations

Note 26: Special accounts

Note 27: Compliance with statutory conditions for payments from the Consolidated Revenue Fund

Note 28: Compensation and debt relief

Note 29: Reporting of outcomes

Note 30: Cost recovery

Note 31: Net cash appropriation arrangements


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Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 2: Events after the reporting period

Administered

Carbon pricing mechanism

The Clean Energy Legislation (carbon tax repeal) Bill 2014 was passed on 17 July 2014. This abolishes the

carbon pricing mechanism from 1 July 2014.

Liable entities must still meet their carbon price obligations for the 2013-14 financial year. These obligations

include reporting their emissions number to the CER under section 22A of the National Greenhouse and

Energy Reporting Act 2007 by 31 October 2014, and acquitting their final carbon price liability for 2013-14 by

2 February 2015.

The repeal has no effect on reporting obligations for controlling corporations, reporting transfer certificate

holders and responsible members under sections 19, 22G and 22X of the National Greenhouse and Energy

Reporting Act 2007.

The repeal of this legislation will have a significant impact on associated administered revenue, expenses,

assets and liabilities. Transactions associated with the carbon pricing mechanism for 2013-14 will continue to

be processed into the 2014-15 financial year. At the end of the 2014-15 financial year there will be no assets

or liabilities associated with the carbon pricing mechanism, however, some revenues and expenses will be

recognised in relation to the wrap up of accrued revenues, shortfall liabilities, fines and penalties which the

CER is unable to reliably estimate at this time (in accordance with accounting principles and policies outlined

in Note 1.20).

The CER utilises various intangible assets in the administration of the carbon pricing mechanism. The CER

is not in a position to estimate the impact of the repeal on these assets at this stage. An impairment

assessment will be undertaken during 2014-15 as planning for future requirements is finalised and the

possibility of redeploying the assets to another scheme is determined.

There is no impact on staffing levels.

Due to the nature and timing of the repeal, this event has been disclosed here but does not have any other

impact on the Financial Statements for the 2013-14 financial year.

Emissions Reduction Fund

The Emissions Reduction Fund (ERF) is a Government election commitment that will purchase lowest cost

abatement (in the form of Australian carbon credit units) from a wide range of sources, providing an incentive

to businesses, households and landowners to proactively reduce their emissions. On 18 June 2014 the

Government introduced the Carbon Credits (Carbon Farming Initiative) Amendment Bill 2014 (the Bill) into

Parliament.

The ERF will be administered by the Clean Energy Regulator and has been provided for in the Portfolio

Budget Statements for 2014-15. The Government has identified funds of $1,146 million over the forward

estimates for its establishment.


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Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 3: Expenses

2014$'000

2013$’000

Note 3A: Employee benefitsWages and salaries 29,385 30,416 Superannuation

Defined contribution plans 2,884 2,777 Defined benefit plans 2,724 3,138

Leave and other entitlements 3,886 3,903 Separations and redundancies 599 168Other 206 277Total employee benefits 39,684 40,679

Note 3B: SuppliersGoods and services supplied or rendered

Consultants 7,076 7,120 Contractors 7,619 9,747 Third party service providers 11,870 11,751 Travel 595 924Legal expenses 417 840Recruitment and training 1,363 1,058 Office equipment 1,531 576Other 2,919 2,961

Total goods and services supplied or rendered 33,390 34,977

Goods supplied in connection withRelated parties 1 - External parties 628 279

Total goods supplied 629 279

Services rendered in connection withRelated parties 1,964 15,842 External parties 30,797 18,856

Total services rendered 32,761 34,698 Total goods and services supplied or rendered 33,390 34,977

Other suppliersOperating lease rentals in connection with

Related parties Minimum lease payments - 3,494 External parties Minimum lease payments 3,725 -

Workers compensation expenses 362 281Total other suppliers 4,087 3,775 Total suppliers 37,477 38,752



Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 3: Expenses (continued)

2014$’000

2013$’000

Note 3C: Depreciation and amortisationDepreciation

Property, plant and equipment 334 377Buildings 1,902 560

Total depreciation 2,236 937

AmortisationIntangibles 14,349 12,093

Total amortisation 14,349 12,093 Total depreciation and amortisation 16,585 13,030

Note 3D: Finance costsUnwinding of discount 53 30Total finance costs 53 30

Note 3E: Write-down and impairment of assetsAsset write-downs and impairments from:Disposal of property, plant and equipment 84 31Revaluation decrement for property, plant and equipment 17 4Impairment on intangible assets 358 2,427 Write-down of intangible assets 272 62Total write-down and impairment of assets 731 2,524

Note 3F: Losses from asset salesProperty, plant and equipment:

Proceeds from sale - (28)Carrying value of assets sold - 123Selling expense - 28

Total losses from asset sales - 123


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Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 4: Own-source income

2014$'000

2013$'000

Own-source revenue

Note 4A: Sale of goods and rendering of servicesRendering of services in connection with

Related parties 542 398External parties 52 31

Total rendering of services 594 429Total sale of goods and rendering of services 594 429

GAINS

Note 4B: Other gainsResources received free of charge - audit fees 465 450Other 348 731Total other gains 813 1,181

Note 4C: Revenue from GovernmentAppropriations

Departmental appropriations 81,353 78,799 Total revenue from Government 81,353 78,799



Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 5: Fair value measurementsThe following tables provide an analysis of assets and liabilities that are measured at fair value.The different levels of the fair value hierarchy are defined below.Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at measurement date.Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability,

Level 3: Unobservable inputs for the asset or liability.

Note 5A: Fair value measurements

Non-financial assetsLeasehold improvements 6,209 - - 6,209Property, plant and equipment 870 - - 870Total non-financial assets 7,079 - - 7,079Total fair value measurements of assets in the statement of financial position 7,079 - - 7,079

either directly or indirectly.

Fair value measurements at the end of the reporting period by hierarchy for assets and liabilities in 2014

The CER's assets are held for operational purposes and not held for the purpose of deriving a profit. The current use of all controlled assets is considered the highest and best use.

Fair value measurementsat the end of the reporting period

using

Fair value$'000

Level 1 inputs$'000

Level 2 inputs$'000

Level 3 inputs$'000


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Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 5: Fair value measurements (continued)Note 5B: Valuation technique and inputs for level 2 and level 3 fair value measurementsLevel 2 and 3 fair value measurements - valuation technique and the inputs used for assets and liabilities in 2014

Category Fair Valuation Inputs(level 2 value technique(s)1 used (weighted

or level 3) $'000 range average)2

Non-financial assets3 6,209 Depreciated

replacement cost (DRC)

Replacement cost new

(price per sqm)

Property, plant and equipment 3 870 Depreciated replacement cost

(DRC)

Useful Life (Consumed

economic benefit or

obsolescence of asset)

Replacement cost new

(size, capacity, use,

configuration, style, type) Useful Life

2 to 9 years

1. There have been no changes to valuation techniques.2. Significant unobservable inputs only. Not applicable for liabilities in the level 2 category.

Leasehold improvements



Notes 2014$'000

2013$'000






LIABILITIESPayables










Note 5: Fair value measurements (continued)Note 5B: Valuation technique and inputs for level 2 and level 3 fair value measurements (continued)Recurring and non-recurring level 3 fair value measurements - valuation processes

• Depreciated replacement cost valuation

• Recurring level 3 fair value measurements - sensitivity of inputs Leasehold improvements, property, plant and equipment - depreciated replacement cost valuation

Assets that do not transact with enough frequency or transparency to develop objective opinions of the value from observable market evidence have been measured using the Depreciated Replacement Cost (DRC). Under the DRC approach the estimated cost to replace the asset is calculated and then adjusted to take account of its economic useful life and obsolescence (accumulated depreciation). The economic useful lives and asset obsolescence has been determined based on professional judgement regarding physical, economic and external obsolescence factors relevant to the asset.The weighted average is determined by assessing the fair value measurement as a proportion of the total fair value for the class against the total useful life of each asset.

The CER engaged Preston Rowe Paterson to do a comprehensive valuation of all departmental non-financial assets (with the exception of Intangibles) as at 30 June 2014. The CER has a policy to conduct valuations with sufficient frequency to ensure that the carrying amounts of assets do not differ materiality from the assets' fair values as at reporting date. The regularity of independent valuations depend upon the volatility of movements in market values for the relevant assets. Preston Rowe Paterson provided written assurance to the CER the valuation method is in compliance with AASB 13.There is no change in the valuation technique since the prior year.There were no significant inter-relationships between unobservable inputs that materiality affect the fair value.

The following valuation techniques and inputs were applied to the CER's non-financial assets:

The significant unobservable inputs used in the fair value measurement of the CER's leasehold improvements and property, plant and equipment asset classes relate to the economic useful life and asset obsolescence (accumulated depreciation). A significant increase (decrease) in this input would result in a significant lower (higher) fair value measurement. The expected economic useful life may be greater than the CER's useful life for assets and this can contribute to the uncertainty of the unobservable inputs.


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Notes 2014$'000

2013$'000






LIABILITIESPayables










Note 5: Fair value measurements (continued)Note 5C: Reconciliation for recurring level 3 fair value measurementsRecurring level 3 fair value measurements - reconciliation for assets

Leasehold improvements

Property, plant and

equipment Total2014 2014 2014$'000 $'000 $'000

Opening balance1 7,447 950 8,397 Total losses recognised in net cost of services2 (1,902) (334) (2,236)Purchases - 3 3Assets first found from stocktake - 348 348Revaluations recognised in other comprehensive income 664 4 668 Revaluations recognised in net services - (17) ( 17)Write-offs and impairments - (84) ( 84)

Closing balance 6,209 870 7,079

1. Opening balance as determined in accordance with AASB 13.2. The presentation of these losses is in the Statement of Comprehensive Income under depreciation.

Non-financial assets



Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 6: Financial assets

2014$'000

2013$'000

Note 6A: Cash and cash equivalentsCash on hand or on deposit 306 297Total cash and cash equivalents 306 297

Note 6B: Trade and other receivablesGoods and services receivables in connection with

Related parties 100 502External parties 26 28

Total goods and services receivables 126 530

Appropriations receivableExisting programs 23,099 22,231

Total appropriations receivable 23,099 22,231

Other receivablesGST receivable from the Australian Taxation Office 819 612

Total other receivables 819 612Total trade and other receivables (gross) 24,044 23,373

Trade and other receivables (net) expected to be recoveredNo more than 12 months 24,044 23,373

Total trade and other receivables (net) 24,044 23,373

Trade and other receivables (gross) aged as followsNot overdue 24,019 23,282 Overdue by 0 to 30 days 7 - 31 to 60 days 3 62 61 to 90 days 4 7 More than 90 days 11 22

Total trade and other receivables (gross) 24,044 23,373

Note 6C: Other financial assetsAccrued revenue - 162Total other financial assets - 162

Other financial assets expected to be recoveredNo more than 12 months - 162

Total other financial assets - 162


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Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 7: Non-financial assets

2014$'000

2013$’000

Note 7A: Land and buildingsLeasehold improvements

Fair value 6,658 7,612 Accumulated depreciation (449) (165)

Total leasehold improvements 6,209 7,447 Total land and buildings 6,209 7,447

Note 7B: Property, plant and equipmentProperty, plant and equipment

Fair value 870 950Accumulated depreciation - -

Total property, plant and equipment 870 950

No indicators of impairment were found for property, plant and equipment.No property, plant and equipment is expected to be sold or disposed of within the next 12 months.

No indicators of impairment were found for leasehold improvements.No leasehold improvements are expected to be sold or disposed of within the next 12 months.

All revaluations were conducted in accordance with revaluation policy at Note 1.16. On 30 June 2014, an independent valuer conducted a revaluation of leasehold improvements and property, plant and equipment.A revaluation increment of $664,558 for leasehold improvements (2013: $3,681,137) was credited to the asset revaluation surplus and included in the equity section of the balance sheet. A revaluation decrement of $13,394 for property, plant and equipment (2013: $3,778) was expensed. The net revaluation increment is $301,886 taking into consideration the provision for makegood. The net amount is reflected in the statement of changes in equity.

Revaluations of non-financial assets

A gain of $348,248 was recognised for property, plant and equipment identified during the stocktake process (2013: $730,781).



Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 7: Non-financial assets (continued)Note 7C: Reconciliation of the opening and closing balances of property, plant and equipment

Reconciliation of the opening and closing balances of property, plant and equipment for 2014Land and buildings

$’000

Property, plant and equipment

$’000Total $’000

As at 1 July 2013Gross book value 7,612 950 8,562 Accumulated depreciation and impairment (165) - (165)Total as at 1 July 2013 7,447 950 8,397 Additions

Purchase - 3 3Assets found at stocktake - 348 348

Revaluations recognised in other comprehensive income 664 4 668Revaluations recognised in net cost of services - (17) (17)Depreciation (1,902) (334) (2,236)Impairment recognised in net cost of services - (84) (84)Total as at 30 June 2014 6,209 870 7,079

Total as at 30 June 2014 represented byGross book value 6,658 870 7,528 Accumulated depreciation and impairment (449) - (449)Total as at 30 June 2014 6,209 870 7,079

Land and buildings

$’000

Property, plantand equipment

$’000Total$’000

As at 1 July 2012Gross book value 1,305 805 2,110 Accumulated depreciation and impairment - (51) (51)Total as at 1 July 2012 1,305 754 2,059 Additions

Purchase 3,021 - 3,021 Assets found at stocktake - 731 731

Revaluations recognised in other comprehensive income 3,681 - 3,681 Revaluations recognised in net cost of services - (4) (4)Depreciation (560) (377) (937)Impairment recognised in net cost of services - (154) (154)Total as at 30 June 2013 7,447 950 8,397

Total as at 30 June 2013 represented byGross book value 7,612 950 8,562 Accumulated depreciation and impairment (165) - (165)Total as at 30 June 2013 7,447 950 8,397

Reconciliation of the opening and closing balances of property, plant and equipment for 2013


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 7: Non-financial assets (continued)

2014 2013$'000 $’000

Note 7D: IntangiblesComputer software

Internally developed – in progress 9,410 15,033 Internally developed – in use 58,104 44,521 Purchased 40 44Accumulated amortisation (27,037) (12,905)Accumulated impairment losses (2,785) (2,427)

Total computer software 37,732 44,266 Total intangibles 37,732 44,266 An impairment loss of $358,000 was recognised for intangibles (2013: $2,427,027).


Clean Energy RegulatorNote 7: Non-financial assets (continued)Note 7E: Reconciliation of the opening and closing balances of intangibles

Reconciliation of the opening and closing balances of intangibles for 2014Computer

software internally developed

Computersoftware

purchased Total$’000 $’000 $’000

As at 1 July 2013Gross book value 59,554 44 59,598 Accumulated amortisation and impairment (15,312) (20) (15,332)Total as at 1 July 2013 44,242 24 44,266 Additions

Purchase or internally developed 8,435 10 8,445 Impairments recognised in net cost of services (358) - (358)Amortisation (14,334) (15) (14,349)Write-down recognised (270) (2) (272)Total as at 30 June 2014 37,715 17 37,732

Total as at 30 June 2014 represented byGross book value 67,513 41 67,554 Accumulated amortisation and impairment (29,798) (24) (29,822)

Total as at 30 June 2014 37,715 17 37,732

Reconciliation of the opening and closing balances of intangibles 2013Computer

software internally developed

Computersoftware

purchased Total$’000 $’000 $’000

As at 1 July 2012Gross book value 31,975 44 32,019 Accumulated amortisation and impairment (840) (4) (844)Total as at 1 July 2012 31,135 40 31,175 Additions

Purchase or internally developed 27,665 8 27,673 Impairments recognised in net cost of services (2,427) - (2,427)Amortisation (12,073) (20) (12,093)Disposals Other (58) (4) (62)Total as at 30 June 2013 44,242 24 44,266

Total as at 30 June 2013 represented byGross book value 59,554 44 59,598 Accumulated amortisation and impairment (15,312) (20) (15,332)

Total as at 30 June 2013 represented by 44,242 24 44,266


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 7: Non-financial assets (continued)

2014$'000

2013$’000

Note 7F: Other non-financial assetsPrepayments 639 373

Total other non-financial assets 639 373

Other non-financial assets are expected to be recoveredNo more than 12 months 629 373More than 12 months 10 -

Total other non-financial assets 639 373

No indicators of impairment were found for other non-financial assets.


Clean Energy RegulatorNote 8: Payables

2014$'000

2013$’000

Note 8A: SuppliersTrade creditors and accruals 3,939 11,167 Total suppliers 3,939 11,167

Suppliers expected to be settledNo more than 12 months 3,939 11,167

Total suppliers 3,939 11,167

Suppliers in connection withRelated entities 205 5,937 External parties 3,734 5,230

Total suppliers 3,939 11,167

Settlement was usually made within 30 days.

Note 8B: Other payablesWages and salaries 998 1,008 Superannuation 171 170Lease liability 323 164Total other payables 1,492 1,342

Other payables expected to be settledNo more than 12 months 1,169 1,178 More than 12 months 323 164

Total other payables 1,492 1,342


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 9: Provisions

2014$'000

2013$’000

Note 9A: Employee provisionsLeave 9,552 9,431 Total employee provisions 9,552 9,431

Employee provisions expected to be settledNo more than 12 months 4,181 4,826 More than 12 months 5,371 4,605

Total employee provisions 9,552 9,431

Note 9B: Other provisionsProvision for restoration 1,827 1,407 Total other provisions 1,827 1,407

Other provisions expected to be settledMore than 12 months 1,827 1,407

Total other provisions 1,827 1,407

Provision for restorationAs at 1 July 2013 1,407

Unwinding of discount or change in discount rate 420Total as at 30 June 2014 1,827

The CER currently has 1 (2013:1) agreement for the leasing of premises which have provisions requiring the CER to restore the premises to their original condition at the conclusion of the lease. The CER has made a provision to reflect the present value of this obligation.


Clean Energy RegulatorNote 10: Cash flow reconciliation

2014$'000

2013$’000

Reconciliation of cash and cash equivalents as per statement of financial position to cash flow statementCash and cash equivalents as per

Cash flow statement 306 297Statement of financial position 306 297

Discrepancy - -

Reconciliation of net contribution by services to net cash from operating activities

Net contribution by services (93,123) (93,528)Revenue from Government 81,353 78,799

Adjustments for non-cash itemsDepreciation/amortisation 16,585 13,030 Net write-down of non-financial assets 731 2,524 Losses from asset sales - 123Finance costs 53 30Other gains (348) (731)

Movements in assts and liabilitiesAssets

Decrease in net receivables 691 3,532 (Increase) / decrease in other financial assets 162 (102)(Increase) in prepayments (266) (266)

Liabilities(Decrease) in supplier payables (5,428) (1,112)Increase in other payables 149 316Increase in employee provisions 122 1,423

Net cash from operating activities 681 4,038


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 11: Contingent assets and liabilitiesQuantifiable contingenciesThere were no quantifiable contingent assets or liabilities as at 30 June 2014 (2013: Nil).

Unquantifiable contingenciesThere were no unquantifiable contingent assets or liabilities as at 30 June 2014 (2013: Nil).

Significant remote contingenciesThere were no significant remote contingent assets or liabilities as at 30 June 2014 (2013: Nil).


Clean Energy RegulatorNote 12: Senior executive remuneration

2014$

2013$

Note 12A: Senior executive remuneration expenses for the reporting periodShort-term employee benefits

Salary 2,874,311 3,745,119 Performance bonuses - 32,925 Other allowances 28,558 50,052 Non-monetary benefits 47,950 87,943

Total short-term employee benefits 2,950,819 3,916,039

Post-employment benefitsSuperannuation 359,749 637,274

Total post-employment benefits 359,749 637,274

Other long-term employee benefitsAnnual leave accrued 194,748 290,120 Long-service leave 58,114 92,838

Total other long-term employee benefits 252,862 382,958

Termination benefitsVoluntary redundancy payments 94,487 -

Total post-employment benefits 94,487 - Total senior executive remuneration expenses 3,657,917 4,936,271

1. Note 12A is prepared on an accrual basis.2. Note 12A excludes acting arrangements and part-year service where total remuneration expensed as a senior executive was less than $195,000.


6 F

inan

cial

sta

tem

ents

Cle

an E

nerg

y R

egul

ator

Not

e 12

B: A

vera

ge a

nnua

l rep

orta

ble

rem

uner

atio

n pa

id to

sub

stan

tive

seni

or e

xecu

tives

dur

ing

the

repo

rtin

g pe

riod

Aver

age

annu

al re

port

able

rem

uner

atio

n pa

id to

sub

stan

tive

seni

or e

xecu

tives

in 2

014

Aver

age

annu

al re

port

able

rem

uner

atio

n¹Su

bsta

ntiv

e se

nior

exec

utiv

es No.

Rep

orta

ble

sala

ry² $

Con

trib

uted

su

pera

nnua

tion³ $

Rep

orta

ble

allo

wan

ces⁴ $

Bon

us p

aid⁵ $

Tota

l rep

orta

ble

rem

uner

atio

n $To

tal r

epor

tabl

e re

mun

erat

ion

(incl

udin

g pa

rt-ti

me

arra

ngem

ents

):le

ss th

an $

195,

000

398

,525

15

,451

-

- 11

3,97

6 $1

95,0

00 to

$22

4,99

91

189,

318

22,8

90

- -

212,

208

$225

,000

to $

254,

999

420

2,70

9 37

,082

-

- 23

9,79

1 $2

55,0

00 to

$28

4,99

93

232,

061

37,7

71

- -

269,

832

$285

,000

to $

314,

999

127

6,00

5 37

,475

-

313,

480

$465

,000

to $

494,

999

147

2,57

7 14

,309

-

- 48

6,88

6 $5

50,0

00 to

$58

4,99

91

545,

509

25,0

00

- -

570,

509

Tota

l num

ber o

f sub

stan

tive

seni

or e

xecu

tives

14A

vera

ge a

nnua

l rep

orta

ble

rem

uner

atio

n pa

id to

sub

stan

tive

seni

or e

xecu

tives

in 2

013

Ave

rage

ann

ual r

epor

tabl

e re

mun

erat

ion¹

Sub

stan

tive

seni

orex

ecut

ives No.

Rep

orta

ble

sala

ry² $

Con

tribu

ted

supe

rann

uatio

n³ $

Rep

orta

ble

allo

wan

ces⁴ $

Bon

us p

aid⁵ $

Tota

l rep

orta

ble

rem

uner

atio

n $To

tal r

epor

tabl

e re

mun

erat

ion

(incl

udin

g pa

rt-tim

e ar

rang

emen

ts):

less

than

$19

5,00

01

22,3

88

2,19

0 -

- 24

,578

$1

95,0

00 to

$22

4,99

92

170,

828

34,4

82

- -

205,

310

$225

,000

to $

254,

999

819

7,21

9 33

,826

-

1,37

2 23

2,41

7 $2

55,0

00 to

$28

4,99

92

221,

085

46,7

71

- 10

,975

27

8,83

1 $2

85,0

00 to

$31

4,99

92

259,

779

35,1

84

135

- 29

5,09

8 $5

50,0

00 to

$58

4,99

91

529,

695

25,0

00

- -

554,

695

Tota

l num

ber o

f sub

stan

tive

seni

or e

xecu

tives

16

5. 'B

onus

pai

d' re

pres

ents

ave

rage

act

ual b

onus

es p

aid

durin

g th

e re

porti

ng p

erio

d in

that

repo

rtabl

e re

mun

erat

ion

band

. The

'bon

us p

aid'

with

in a

par

ticul

ar b

and

may

var

y be

twee

n fin

anci

al

y

ears

due

to v

ario

us fa

ctor

s su

ch a

s in

divi

dual

s co

mm

enci

ng w

ith o

r lea

ving

the

entit

y du

ring

the

finan

cial

yea

r.

Not

e 12

: Sen

ior e

xecu

tive

rem

uner

atio

n (c

ontin

ued)

1. T

his

tabl

e re

ports

sub

stan

tive

seni

or e

xecu

tives

who

rece

ived

rem

uner

atio

n du

ring

the

repo

rting

per

iod.

Eac

h ro

w is

an

aver

aged

figu

re b

ased

on

head

coun

t for

indi

vidu

als

in th

e ba

nd.

2. 'R

epor

tabl

e sa

lary

' inc

lude

s th

e fo

llow

ing:

a) g

ross

pay

men

ts (l

ess

any

bonu

ses

paid

, whi

ch a

re s

epar

ated

out

and

dis

clos

ed in

the

'bon

us p

aid'

col

umn)

b

) rep

orta

ble

fring

e be

nefit

s (a

t the

net

am

ount

prio

r to

'gro

ssin

g up

' to

acco

unt f

or ta

x be

nefit

s)

c) s

alar

y sa

crifi

ced

bene

fits.

3. T

he 'c

ontri

bute

d su

pera

nnua

tion'

am

ount

is th

e av

erag

e co

st to

the

entit

y fo

r the

pro

visi

on o

f sup

eran

nuat

ion

bene

fits

to s

ubst

antiv

e se

nior

exe

cutiv

es in

that

repo

rtabl

e re

mun

erat

ion

band

dur

ing

the

repo

rting

per

iod.

4.

'Rep

orta

ble

allo

wan

ces'

are

the

aver

age

actu

al a

llow

ance

s pa

id a

s pe

r the

'tot

al a

llow

ance

s' li

ne o

n in

divi

dual

s' p

aym

ent s

umm

arie

s.


Cle

an E

nerg

y R

egul

ator

Not

e 12

: Sen

ior e

xecu

tive

rem

uner

atio

n (c

ontin

ued)

Not

e 12

C: A

vera

ge a

nnua

l rep

orta

ble

rem

uner

atio

n pa

id to

oth

er h

ighl

y pa

id s

taff

durin

g th

e re

port

ing

perio

dAv

erag

e an

nual

repo

rtab

le re

mun

erat

ion

paid

to o

ther

hig

hly

paid

sta

ff in

201

4

Aver

age

annu

al re

port

able

rem

uner

atio

n¹O

ther

hig

hly

paid

sta

ffN

o.

Rep

orta

ble

sala

ry² $

Con

trib

uted

su

pera

nnua

tion³ $

Rep

orta

ble

allo

wan

ces⁴ $

Bon

us p

aid⁵ $

Tota

l re

port

able

re

mun

erat

ion $

Tota

l rep

orta

ble

rem

uner

atio

n (in

clud

ing

part

-tim

e ar

rang

emen

ts):

$195

,000

to $

224,

999

319

1,74

8 13

,944

-

205,

692

$375

,000

to $

404,

999

137

9,14

4 -

- -

379,

144

Tota

l num

ber o

f oth

er h

ighl

y pa

id s

taff

4

Ave

rage

ann

ual r

epor

tabl

e re

mun

erat

ion

paid

to o

ther

hig

hly

paid

sta

ff in

201

3

Ave

rage

ann

ual r

epor

tabl

e re

mun

erat

ion¹

Oth

er h

ighl

y pa

id s

taff

No.

Rep

orta

ble

sala

ry² $

Con

tribu

ted

supe

rann

uatio

n³ $

Rep

orta

ble

allo

wan

ces⁴ $

Bon

us p

aid⁵ $

Tota

lre

porta

ble

rem

uner

atio

n $To

tal r

epor

tabl

e re

mun

erat

ion

(incl

udin

g pa

rt-tim

e ar

rang

emen

ts):

$195

,000

to $

224,

999

417

8,47

1 35

,252

98

- 21

3,82

1 $2

25,0

00 to

$24

9,99

91

193,

607

34,2

08

- -

227,

814

$330

,000

to $

359,

999

130

6,46

1 25

,818

-

- 33

2,27

9 To

tal n

umbe

r of o

ther

hig

hly

paid

sta

ff6

3. T

he 'c

ontri

bute

d su

pera

nnua

tion'

am

ount

is th

e av

erag

e co

st to

the

entit

y fo

r the

pro

visi

on o

f sup

eran

nuat

ion

bene

fits

to s

ubst

antiv

e se

nior

exe

cutiv

es in

that

repo

rtabl

e re

mun

erat

ion

b

and

durin

g th

e re

porti

ng p

erio

d.

4. 'R

epor

tabl

e al

low

ance

s' a

re th

e av

erag

e ac

tual

allo

wan

ces

paid

as

per t

he 't

otal

allo

wan

ces'

line

on

indi

vidu

als'

pay

men

t sum

mar

ies.

5. 'B

onus

pai

d' re

pres

ents

ave

rage

act

ual b

onus

es p

aid

durin

g th

e re

porti

ng p

erio

d in

that

repo

rtabl

e re

mun

erat

ion

band

. The

'bon

us p

aid'

with

in a

par

ticul

ar b

and

may

var

y be

twee

n

fina

ncia

l yea

rs d

ue to

var

ious

fact

ors

such

as

indi

vidu

als

com

men

cing

with

or l

eavi

ng th

e en

tity

durin

g th

e fin

anci

al y

ear.

1. T

his

tabl

e re

ports

sta

ff:

a

) who

wer

e em

ploy

ed b

y th

e en

tity

durin

g th

e re

porti

ng p

erio

d

b) w

hose

repo

rtabl

e re

mun

erat

ion

was

$19

5,00

0 or

mor

e fo

r the

fina

ncia

l per

iod

c

) wer

e no

t req

uire

d to

be

disc

lose

d in

Tab

le B

.E

ach

row

is a

n av

erag

ed fi

gure

bas

ed o

n he

adco

unt f

or in

divi

dual

s in

the

band

.2.

'Rep

orta

ble

sala

ry' i

nclu

des

the

follo

win

g:

a

) gro

ss p

aym

ents

(les

s an

y bo

nuse

s pa

id, w

hich

are

sep

arat

ed o

ut a

nd d

iscl

osed

in th

e 'b

onus

pai

d' c

olum

n)

b) r

epor

tabl

e fri

nge

bene

fits

(at t

he n

et a

mou

nt p

rior t

o 'g

ross

ing

up' t

o ac

coun

t for

tax

bene

fits)

c

) sal

ary

sacr

ifice

d be

nefit

s.


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 13: Remuneration of auditors

2014$'000

2013$'000

Financial statement audit services were provided free of charge to theCER by the Australian National Audit Office (ANAO).

Fair value of services receivedFinancial statement audit services 465 450

Total fair value of services received 465 450

No other services were provided by the auditors of the financial statements.


Clean Energy RegulatorNote 14: Financial instruments

2014$'000

2013$’000

Note 14A: Categories of financial instrumentsFinancial assetsLoans and receivables:

Cash and cash equivalents 306 297Receivables for goods and services 126 530

Total loans and receivables 432 827Total financial assets 432 827

Financial liabilitiesFinancial liabilities measured at amortised cost

Suppliers payables 3,939 11,167 Total financial liabilities measured at amortised cost 3,939 11,167 Total financial liabilities 3,939 11,167

Note 14B: Net gains or losses on financial assetsThere has been no income gained or expense incurred from financial assets (2013: Nil).

Note 14C: Net gains or losses on financial liabilitiesThere has been no income gained or expense incurred from financial liabilities (2013: Nil).


6 F

inan

cial

sta

tem

ents

Cle

an E

nerg

y R

egul

ator

Not

e 14

: Fin

anci

al in

stru

men

ts (c

ontin

ued)

Not

e 14

D: C

redi

t ris

k

The

CE

R h

eld

no c

olla

tera

l to

miti

gate

aga

inst

cre

dit r

isk.

Cre

dit q

ualit

y of

fina

ncia

l ass

ets

not p

ast d

ue o

r ind

ivid

ually

det

erm

ined

as

impa

ired

Not

pas

t due

or

impa

ired

Not

pas

t due

or

impa

ired

Past

due

or

impa

ired

Pas

t due

or

impa

ired

2014

2013

2014

2013

$'00

0$'

000

$'00

0$'

000

Cas

h an

d ca

sh e

quiv

alen

ts30

629

7 -

- R

ecei

vabl

es fo

r goo

ds a

nd s

ervi

ces

101

439

2591

Tota

l40

773

625

91

Agei

ng o

f fin

anci

al a

sset

s th

at w

ere

past

due

but

not

impa

ired

in 2

014

0 to

30

31 to

60

61 to

90

90+

Tota

lda

ysda

ysda

ysda

ys$'

000

$'00

0$'

000

$'00

0$'

000

Rec

eiva

bles

for g

oods

and

ser

vice

s7

34

1125

Tota

l7

34

1125

Age

ing

of fi

nanc

ial a

sset

s th

at w

ere

past

due

but

not

impa

ired

in 2

013

0 to

30

31 to

60

61 to

90

90+

Tota

lda

ysda

ysda

ysda

ys$'

000

$'00

0$'

000

$'00

0$'

000

Rec

eiva

bles

for g

oods

and

ser

vice

s -

627

2291

Tota

l -

627

2291

The

CE

R is

exp

osed

to m

inim

al c

redi

t ris

k as

loan

s an

d re

ceiv

able

s re

pres

ent c

ash

and

rece

ivab

les

for g

oods

and

ser

vice

s. T

he m

axim

um e

xpos

ure

to c

redi

t ris

k is

th

e ris

k th

at a

rises

from

pot

entia

l def

ault

of a

deb

tor.

Thi

s am

ount

is e

qual

to th

e to

tal a

mou

nt o

f tra

de re

ceiv

able

s of

$12

5,95

8 (2

013:

$52

9,79

8).

The

CE

R h

as a

sses

sed

the

risk

of th

e de

faul

t on

paym

ent a

nd d

ecid

ed n

ot to

allo

cate

an

impa

irmen

t allo

wan

ce a

ccou

nt.

The

CE

R m

anag

es it

s cr

edit

risk

by

ensu

ring

that

it h

as p

olic

ies

and

proc

edur

es in

rela

tion

to d

ebt m

anag

emen

t.


Cle

an E

nerg

y R

egul

ator

Not

e 14

: Fin

anci

al in

stru

men

ts (c

ontin

ued)

Not

e 14

E: L

iqui

dity

risk

Mat

uriti

es fo

r non

-der

ivat

ive

finan

cial

liab

ilitie

s 20

14

Not

esO

nde

man

dW

ithin

1 ye

ar1

to 2

year

s2

to 5

year

s>

5ye

ars

Tota

l

$'00

0$'

000

$'00

0$'

000

$'00

0$'

000

Sup

plie

rs p

ayab

les

8A -

3,93

9 -

- -

3,93

9 To

tal

- 3,

939

- -

- 3,

939

Mat

uriti

es fo

r non

-der

ivat

ive

finan

cial

liab

ilitie

s 20

13

Not

esO

nde

man

dW

ithin

1 ye

ar1

to 2

year

s2

to 5

year

s>

5ye

ars

Tota

l

$'00

0$'

000

$'00

0$'

000

$'00

0$'

000

Sup

plie

rs p

ayab

les

8A -

11,1

67

- -

- 11

,167

To

tal

- 11

,167

-

- -

11,1

67

The

CE

R h

ad n

o de

rivat

ive

finan

cial

liab

ilitie

s in

201

3-14

(201

3: N

il).

Not

e 14

F: M

arke

t ris

kTh

e C

ER

hel

d ba

sic

finan

cial

inst

rum

ents

that

do

not e

xpos

e it

to c

erta

in m

arke

t ris

ks, s

uch

as 'c

urre

ncy

risk'

or '

othe

r pric

e ris

k'.

The

CE

R is

not

exp

osed

to a

ny

'inte

rest

rate

risk

'.

The

CE

R's

fina

ncia

l lia

bilit

ies

are

supp

lier p

ayab

les.

The

exp

osur

e to

liqu

idity

risk

was

bas

ed o

n th

e no

tion

that

the

CE

R w

ill e

ncou

nter

diff

icul

ty in

mee

ting

its

oblig

atio

ns a

ssoc

iate

d w

ith fi

nanc

ial l

iabi

litie

s. T

his

is h

ighl

y un

likel

y as

the

CE

R is

app

ropr

iate

d fu

ndin

g fro

m th

e A

ustra

lian

Gov

ernm

ent a

nd th

e C

ER

man

ages

its

budg

eted

fund

s to

ens

ure

it ha

s ad

equa

te fu

nds

to m

eet p

aym

ents

as

they

fall

due.

The

CE

R m

anag

es it

s liq

uidi

ty ri

sk b

y en

surin

g th

at it

has

pol

icie

s in

pla

ce to

en

sure

tim

ely

paym

ents

are

mad

e w

hen

due

and

has

no p

ast e

xper

ienc

e of

def

ault.


6 F

inan

cial

sta

tem

ents


Notes 2014$'000

2013$'000

Total financial assets as per statement of financial position 24,350 23,832 Less: non-financial instrument components

Appropriation receivable 6B 23,099 22,231 GST receivable 6B 819 612Accrued revenue 6C - 162

Total non-financial instrument components 23,918 23,005 Total financial assets as per financial instruments note 14A 432 827

Note 15: Financial assets reconciliation


Clean Energy RegulatorNote 16: Administered - expenses

2014$'000

2013$'000

Note 16A: SuppliersGoods and services supplied or rendered

Contractors 3,232 4,270 Total goods and services supplied or rendered 3,232 4,270

Services rendered in connection withExternal parties 3,232 4,270

Total services rendered 3,232 4,270 Total goods and services supplied or rendered 3,232 4,270

Note 16B: SubsidiesSubsidies in connection with

External parties Buy-back of carbon units 1,297,440 937,744

Total subsidies 1,297,440 937,744

Note 16C: Write-down and impairment of assetsImpairment on financial assets 43,166 209Total write-down and impairment of assets 43,166 209


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 17: Administered - income

2014$'000

2013$'000

REVENUE

Taxation revenueNote 17A: Other taxesCarbon price revenue 4,346,271 5,029,970 Carbon price revenue - shortfall charges and penalties 50,875 17,434 Renewable energy - shortfall charges and interest 389 825Total other taxes 4,397,535 5,048,229

Non-taxation revenueNote 17B: Fees and finesRenewable energy fees 13,265 19,118 Other fees 32 56Fines - 209Total fees and fines 13,297 19,383


Clean Energy RegulatorNote 18: Administered - financial assets

2014$'000

2013$'000

Note 18A: Cash and cash equivalentsCash held by outsiders 1,012 1,305 Total cash and cash equivalents 1,012 1,305

Note 18B: Taxation receivablesOther taxes

Carbon price revenue 1,401,758 1,399,715 Carbon price revenue - shortfall charges and penalties 44,375 17,434 Renewable energy - shortfall charges and interest 589 580

Total taxation receivables (gross) 1,446,722 1,417,729

Less: impairment allowanceOther (43,166) -

Total impairment allowance (43,166) - Total taxation receivables (net) 1,403,556 1,417,729

Taxation receivables (gross) aged as followsNot overdue 1,401,758 1,400,034 Overdue by

0 to 30 days - 17,377 More than 90 days 44,964 318

Total taxation receivables (gross) 1,446,722 1,417,729

Impairment allowance aged as followsOverdue by

0 to 30 days 2,469 - More than 90 days 40,697 -

Total impairment allowance 43,166 -

Note 18C: Trade and other receivablesOther receivables

Fines 209 209GST receivable from the Australian Taxation Office 64 81

Total trade and other receivables (gross) 273 290

Less: impairment allowanceOther (209) (209)

Total impairment allowance (209) (209)Total trade and other receivables (net) 64 81


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 18: Administered - financial assets (continued)Note 18C: Trade and other receivables (continued)

2014$'000

2013$'000

Receivables were aged as followsNot overdue 64 81Overdue by

61 to 90 days - 209More than 90 days 209 -

Total trade and other receivables (gross) 273 290

Impairment allowance aged as followsOverdue by

More than 90 days (209) (209)Total impairment allowance (209) (209)


Clean Energy RegulatorNote 18: Administered - financial assets (continued)Reconciliation of the impairment allowanceMovements in relation to 2014

Opening balance - - 209 209Amounts written off - - - - Amounts recovered and reversed - - - - Increase recognised in net cost of services 43,166 - 43,166

Closing balance - 43,166 209 43,375

Movements in relation to 2013

Opening balanceAmounts written off - - - - Amounts recovered and reversed - - - - Increase recognised in net cost of services - - 209 209

Closing balance - - 209 209

Total$'000

Advancesand loans

$'000

Taxation receivables

$'000

Other receivables

$'000Total$'000

Advances and loans

$'000

Taxation receivables

$'000

Other receivables

$'000


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 19: Administered - payables

2014$'000

2013$'000

Note 19A: SuppliersTrade creditors and accruals 351 3,667

Total suppliers 351 3,667

Suppliers expected to be settledNo more than 12 months 351 3,667 More than 12 months - -


Suppliers in connection withRelated entities - - External parties 351 3,667



Clean Energy RegulatorNote 20: Administered - provisions

2014$'000

2013$'000

Note 20A: Other provisionsProvision for refund of large-scale generation shortfall charges - 262Provision for buy-back of carbon units 292,410 231,151


Other provisions expected to be settledNo more than 12 months 292,410 231,151 More than 12 months - 262



6 F

inan

cial

sta

tem

ents


Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 21: Administered - cash flow reconciliation

2014 2013$'000 $’000

Reconciliation of cash and cash equivalents as per administered schedule of assets and liabilities to administered cash flow statement

Cash and cash equivalents as per:Schedule of administered cash flows 1,012 1,305 Schedule of administered assets and liabilities 1,012 1,305

Discrepancy - -

Reconciliation of net cost of services to net cash from/(used by) operating activities

Net contributions by services 3,066,994 4,125,389

Movements in assets and liabilitiesAssets

(Increase) in net taxation receivables (29,485) (1,417,111)(Increase)/decrease in net trade receivables 43,674 (65)

LiabilitiesIncrease/(decrease) in suppliers payables (3,316) 1,479 (Decrease) in other payables - (9)Increase in other provisions 60,996 231,145

Net cash from operating activities 3,138,863 2,940,828



Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 22: Administered - Contingent assets and liabilities

Quantifiable contingenciesThere were no quantifiable contingent assets or liabilities as at 30 June 2014 (2013: Nil).

Unquantifiable contingenciesThere were no unquantifiable contingent assets or liabilities as at 30 June 2014 (2013: Nil).

Significant remote contingenciesThere were no significant remote contingent assets or liabilities as at 30 June 2014 (2013: Nil).


6 F

inan

cial

sta

tem

ents


Notes 2014$'000

2013$'000






LIABILITIESPayables









Clean Energy RegulatorNote 23: Administered - financial instruments

2014$'000

2013$'000

Note 23A: Categories of financial instrumentsFinancial assetsLoans and receivables

Cash and cash equivalents 1,012 1,305 Trade and other receivables - -

Total loans and receivables 1,012 1,305 Total financial assets 1,012 1,305

Financial liabilitiesFinancial liabilities measured at amortised cost

Suppliers payables 351 3,667 Total financial liabilities measured at amortised cost 351 3,667 Total financial liabilities 351 3,667

Note 23B: Net gains or losses on financial assetsThere were no gains or losses on financial assets (2013: Nil).

Note 23C: Net gains or losses on financial liabilitiesThere were no gains or losses on financial liabilities (2013: Nil).



Notes 2014$'000

2013$'000






LIABILITIESPayables









Cle

an E

nerg

y R

egul

ator

Not

e 23

: Adm

inis

tere

d - f

inan

cial

Inst

rum

ents

(con

tinue

d)N

ote

23D

: Cre

dit r

isk

The

CE

R h

eld

no c

olla

tera

l to

miti

gate

aga

inst

cre

dit r

isk.

Cre

dit q

ualit

y of

fina

ncia

l ass

ets

not p

ast d

ue o

r ind

ivid

ually

det

erm

ined

as

impa

ired

Not

pas

t due

no

r im

paire

dN

ot p

ast d

ue

nor i

mpa

ired

Past

due

or

impa

ired

Pas

t due

or

impa

ired

2014

2013

2014

2013

$'00

0$'

000

$'00

0$'

000

Cas

h an

d ca

sh e

quiv

alen

ts1,

012

1,30

5 -

- Tr

ade

and

othe

r rec

eiva

bles

- -

209

209

Tota

l1,

012

1,30

5 20

920

9

Agei

ng o

f fin

anci

al a

sset

s th

at w

ere

past

due

but

not

impa

ired

in 2

014

0 to

30

31 to

60

61 to

90

90+

Tota

lda

ysda

ysda

ysda

ys$'

000

$'00

0$'

000

$'00

0$'

000

Trad

e an

d ot

her r

ecei

vabl

es -

- -

- -

Tota

l -

- -

- -

Age

ing

of fi

nanc

ial a

sset

s th

at w

ere

past

due

but

not

impa

ired

in 2

013

0 to

30

31 to

60

61 to

90

90+

Tota

lda

ysda

ysda

ysda

ys$'

000

$'00

0$'

000

$'00

0$'

000

Trad

e an

d ot

her r

ecei

vabl

es -

- -

- -

Tota

l -

- -

- -

The

CE

R is

exp

osed

to m

inim

al c

redi

t ris

k as

loan

s an

d re

ceiv

able

s ar

e ca

sh a

nd tr

ade

and

othe

r rec

eiva

bles

. Th

e m

axim

um e

xpos

ure

to c

redi

t ris

k is

the

risk

that

ar

ises

from

pot

entia

l def

ault

of a

deb

tor.

Thi

s am

ount

is e

qual

to th

e to

tal a

mou

nt o

f tra

de re

ceiv

able

s $2

09,4

00 (2

013:

$20

9,40

0).

The

CE

R h

as a

sses

sed

the

risk

of th

e de

faul

t on

paym

ent a

nd a

lloca

ted

$209

,400

to a

n im

pairm

ent a

llow

ance

acc

ount

.

Age

ing

of fi

nanc

ial a

sset

s th

at w

ere

past

due

but

not

impa

ired

in 2

013


6 F

inan

cial

sta

tem

ents


Notes 2014$'000

2013$'000






LIABILITIESPayables









Cle

an E

nerg

y R

egul

ator

Not

e 23

: Adm

inis

tere

d - f

inan

cial

inst

rum

ents

(con

tinue

d)N

ote

23E:

Liq

uidi

ty ri

sk

Mat

uriti

es fo

r non

-der

ivat

ive

finan

cial

liab

ilitie

s in

201

4O

nw

ithin

11

to 2

2 to

5>

5To

tal

dem

and

year

year

sye

ars

year

s$'

000

$'00

0$'

000

$'00

0$'

000

$'00

0S

uppl

iers

pay

able

s -

351

- -

- 35

1To

tal

- 35

1 -

- -

351

Mat

uriti

es fo

r non

-der

ivat

ive

finan

cial

liab

ilitie

s in

201

3O

nw

ithin

11

to 2

2 to

5>

5To

tal

dem

and

year

year

sye

ars

year

s$'

000

$'00

0$'

000

$'00

0$'

000

$'00

0S

uppl

iers

pay

able

s -

3,66

7 -

- -

3,66

7 To

tal

- 3,

667

- -

- 3,

667

The

CE

R h

ad n

o de

rivat

ive

finan

cial

liab

ilitie

s in

eith

er th

e cu

rrent

or p

rior p

erio

d.

Not

e 24

F: M

arke

t ris

kTh

e C

ER

hel

d ba

sic

finan

cial

inst

rum

ents

that

do

not e

xpos

e it

to c

erta

in m

arke

t ris

ks.

The

CE

R is

not

exp

osed

to 'c

urre

ncy

risk'

, 'in

tere

st ra

te ri

sk' o

r 'ot

her

pric

e ris

k'.

The

CE

R's

fina

ncia

l lia

bilit

ies

are

supp

liers

pay

able

s. T

he e

xpos

ure

to li

quid

ity ri

sk is

bas

ed o

n th

e no

tion

that

the

CE

R w

ill e

ncou

nter

diff

icul

ty in

mee

ting

its

oblig

atio

ns a

ssoc

iate

d w

ith fi

nanc

ial l

iabi

litie

s. T

his

was

hig

hly

unlik

ely

as th

e C

ER

is a

ppro

pria

ted

fund

ing

from

the

Aus

tralia

n G

over

nmen

t and

the

CE

R

man

ages

its

budg

eted

fund

s to

ens

ure

it ha

s ad

equa

te fu

nds

to m

eet p

aym

ents

as

they

fall

due.

The

CE

R m

anag

es it

s liq

uidi

ty ri

sk b

y en

surin

g th

at it

has

po

licie

s in

pla

ce to

ens

ure

timel

y pa

ymen

ts a

re m

ade

whe

n du

e an

d ha

s no

pas

t exp

erie

nce

of d

efau

lt.



Notes 2014$'000

2013$'000






LIABILITIESPayables










Financial assets Notes2014$'000

2013$'000

Total financial assets as per administered schedule of assets and liabilities 1,404,632 1,419,115 Less: Non-financial instrument components

Taxation receivables 18B 1,403,556 1,417,729 GST receivable 18C 64 81

Total non-financial instrument components 1,403,620 1,417,810

Total financial assets as per administered financial instruments note 23A 1,012 1,305

Note 24: Administered - financial assets reconciliation


6 F

inan

cial

sta

tem

ents

Cle

an E

nerg

y R

egul

ator

Tabl

e A:

Ann

ual a

ppro

pria

tions

('R

ecov

erab

le G

ST e

xclu

sive

')

Annu

al

appr

opria

tion

Appr

opria

tions

re

duce

d1Se

ctio

n 30

Sect

ion

31Se

ctio

n 32

$'00

0$'

000

$'00

0$'

000

$'00

0$'

000

$'00

0$'

000

Dep

artm

enta

lO

rdin

ary

annu

al s

ervi

ces

83,3

75

- -

1,61

7 -

84,9

92

85,4

76

(484

)O

ther

ser

vice

s

Equ

ity12

,553

-

- -

12,5

53

7,55

3 5,

0002

Tota

l dep

artm

enta

l95

,928

-

- 1,

617

- 97

,545

93

,029

4,

516

Adm

inis

tere

dO

rdin

ary

annu

al s

ervi

ces

A

dmin

iste

red

item

s3,

745

(487

) -

- 3,

258

4,00

9 (7

51)

Tota

l adm

inis

tere

d3,

745

(487

) -

- 3,

258

4,00

9 (7

51)

1. A

ppro

pria

tions

redu

ced

unde

r App

ropr

iatio

n A

cts

(No.

1, 3

and

5) 2

013-

14: s

ectio

ns 1

0, 1

1, 1

2 an

d 15

and

und

er A

ppro

pria

tion

Act

s (N

o. 2

, 4 a

nd 6

) 201

3-14

:

sec

tions

12,

13,

14

and

17.

Dep

artm

enta

l app

ropr

iatio

ns d

o no

t lap

se a

t fin

anci

al y

ear-e

nd. H

owev

er, t

he re

spon

sibl

e M

inis

ter m

ay d

ecid

e th

at p

art o

r all

of a

d

epar

tmen

tal a

ppro

pria

tion

is n

ot re

quire

d an

d re

ques

t tha

t the

Fin

ance

Min

iste

r red

uce

that

app

ropr

iatio

n.

As

with

dep

artm

enta

l app

ropr

iatio

ns, t

he re

spon

sibl

e M

inis

ter m

ay d

ecid

e th

at p

art o

r all

of a

n ad

min

iste

red

appr

opria

tion

is n

ot re

quire

d an

d re

ques

t tha

t the

Fi

nanc

e M

inis

ter r

educ

e th

at a

ppro

pria

tion.

For

adm

inis

tere

d ap

prop

riatio

ns re

duce

d un

der s

ectio

n 11

of A

ppro

pria

tion

Act

s (N

o. 1

, 3 a

nd 5

) 201

3-14

and

sec

tion

12 o

f App

ropr

iatio

n A

cts

(No.

2, 4

and

6) 2

013-

14, t

he a

ppro

pria

tion

is ta

ken

to b

e re

duce

d to

the

requ

ired

amou

nt s

peci

fied

in T

able

E o

f thi

s no

te o

nce

the

annu

al

repo

rt is

tabl

ed in

Par

liam

ent.

Not

e 25

: App

ropr

iatio

ns

30 J

une

2014

App

ropr

iatio

nsAp

prop

riatio

n ap

plie

d in

201

4 (c

urre

nt a

nd

prio

r yea

rs)

Varia

nce

App

ropr

iatio

n A

ctFM

A A

ctTo

tal

appr

opria

tion

2. T

he v

aria

nce

of $

5,00

0,00

0 fro

m w

hat t

he C

ER

has

bee

n ap

prop

riate

d fo

r equ

ity a

nd w

hat h

as b

een

appl

ied

rela

tes

to d

elay

s in

pro

ject

com

men

cem

ents

.


Cle

an E

nerg

y R

egul

ator

Not

e 25

: App

ropr

iatio

ns (c

ontin

ued)

Tabl

e A:

Ann

ual a

ppro

pria

tions

('R

ecov

erab

le G

ST e

xclu

sive

') (c

ontin

ued)

Ann

ual

appr

opria

tion

App

ropr

iatio

ns

redu

ced1

Sec

tion

30S

ectio

n 31

Sec

tion

32$'

000

$'00

0$'

000

$'00

0$'

000

$'00

0$'

000

$'00

0D

epar

tmen

tal

Ord

inar

y an

nual

ser

vice

s80

,822

-

- 2,

936

- 83

,758

86

,709

(2

,951

)O

ther

ser

vice

s E

quity

17,7

57

- -

- 17

,757

32

,734

(1

4,97

7)To

tal d

epar

tmen

tal

98,5

79

- -

2,93

6 -

101,

515

119,

443

(17,

928)

Adm

inis

tere

dO

rdin

ary

annu

al s

ervi

ces

A

dmin

iste

red

item

s4,

539

(677

) -

- 3,

862

5,36

9 (1

,507

)To

tal a

dmin

iste

red

4,53

9 (6

77)

- -

3,86

2 5,

369

(1,5

07)

Not

e: T

he fo

rmer

Dep

artm

ent o

f Clim

ate

Cha

nge

and

Ene

rgy

Effi

cien

cy s

pent

mon

ey fr

om th

e C

onso

lidat

ed R

even

ue F

und

on b

ehal

f of C

ER

up

until

25

Mar

ch

2013

and

the

Dep

artm

ent o

f Ind

ustry

, Inn

ovat

ion,

Clim

ate

Cha

nge,

Sci

ence

, Res

earc

h an

d Te

rtiar

y E

duca

tion

spen

t mon

ey fr

om th

e C

onso

lidat

ed R

even

ue F

und

from

25

Mar

ch 2

013

up u

ntil

30 J

une

2013

. Th

e m

oney

spe

nt h

as b

een

incl

uded

abo

ve.

App

ropr

iatio

n A

ctFM

A A

ctTo

tal

appr

opria

tion

2013

App

ropr

iatio

nsA

ppro

pria

tion

appl

ied

in 2

013

(cur

rent

and

prio

r ye

ars)

Var

ianc

e

1. A

ppro

pria

tions

redu

ced

unde

r App

ropr

iatio

n A

cts

(No.

1, 3

and

5) 2

012-

13: s

ectio

ns 1

0, 1

1, 1

2 an

d 15

and

und

er A

ppro

pria

tion

Act

s (N

o. 2

, 4 a

nd 6

)

201

2-13

: sec

tions

12,

13,

14

and

17.

Dep

artm

enta

l app

ropr

iatio

ns d

o no

t lap

se a

t fin

anci

al y

ear-e

nd. H

owev

er, t

he re

spon

sibl

e M

inis

ter m

ay

d

ecid

e th

at p

art o

r all

of a

dep

artm

enta

l app

ropr

iatio

n is

not

requ

ired

and

requ

est t

hat t

he F

inan

ce M

inis

ter r

educ

e th

at a

ppro

pria

tion.

As

with

dep

artm

enta

l app

ropr

iatio

ns, t

he re

spon

sibl

e M

inis

ter m

ay d

ecid

e th

at p

art o

r all

of a

n ad

min

iste

red

appr

opria

tion

is n

ot re

quire

d an

d re

ques

t tha

t the

Fi

nanc

e M

inis

ter r

educ

e th

at a

ppro

pria

tion.

For

adm

inis

tere

d ap

prop

riatio

ns re

duce

d un

der s

ectio

n 11

of A

ppro

pria

tion

Act

s (N

o. 1

, 3 a

nd 5

) 201

2-13

and

sec

tion

12 o

f App

ropr

iatio

n A

cts

(No.

2, 4

and

6) 2

012-

13, t

he a

ppro

pria

tion

is ta

ken

to b

e re

duce

d to

the

requ

ired

amou

nt s

peci

fied

in T

able

E o

f thi

s no

te o

nce

the

annu

al re

port

is ta

bled

in P

arlia

men

t.


6 F

inan

cial

sta

tem

ents

Cle

an E

nerg

y R

egul

ator

Not

e 25

: App

ropr

iatio

ns (c

ontin

ued)

Tabl

e B

: Dep

artm

enta

l and

adm

inis

tere

d ca

pita

l bud

gets

('R

ecov

erab

le G

ST e

xclu

sive

')

FMA

Act

Annu

al

capi

tal

budg

etAp

prop

riatio

ns

redu

ced

Sect

ion 32

$'00

0$'

000

$'00

0$'

000

$'00

0$'

000

$'00

0$'

000

Dep

artm

enta

lO

rdin

ary

annu

al s

ervi

ces

- Dep

artm

enta

l Cap

ital B

udge

t12,

022

- -

2,02

2 2,

022

- 2,

022

-

FMA

Act

Ann

ual

capi

tal

budg

etA

ppro

pria

tions

re

duce

dS

ectio

n 32$'

000

$'00

0$'

000

$'00

0$'

000

$'00

0$'

000

$'00

0D

epar

tmen

tal

Ord

inar

y an

nual

ser

vice

s - D

epar

tmen

tal C

apita

l Bud

get1

2,02

3 -

-2,

023

2,02

3 -

2,02

3 -

2014

cap

ital b

udge

t app

ropr

iatio

ns

App

ropr

iatio

n A

ct

Tota

l cap

ital

budg

et

appr

opria

tions

Paym

ents

fo

r non

-fin

anci

al

asse

ts2

Paym

ents

fo

r oth

er

purp

oses

Tota

l pa

ymen

ts

1. D

epar

tmen

tal c

apita

l bud

gets

are

app

ropr

iate

d th

roug

h A

ppro

pria

tion

Act

s (N

o. 1

, 3 a

nd 5

). Th

ey fo

rm p

art o

f ord

inar

y an

nual

ser

vice

s, a

nd a

re n

ot s

epar

atel

y

ide

ntifi

ed in

the

App

ropr

iatio

n A

cts.

For

mor

e in

form

atio

n on

ord

inar

y an

nual

ser

vice

s ap

prop

riatio

ns, p

leas

e se

e Ta

ble

A: A

nnua

l app

ropr

iatio

ns.

2. P

aym

ents

mad

e on

non

-fina

ncia

l ass

ets

incl

ude

purc

hase

s of

ass

ets,

exp

endi

ture

on

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ts w

hich

hav

e be

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apita

lised

and

cos

ts in

curre

d to

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e go

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n

ass

et to

its

orig

inal

con

ditio

n.

Varia

nce

Cap

ital b

udge

t app

ropr

iatio

ns a

pplie

din

201

4(c

urre

nt a

nd p

rior y

ears

)

1. D

epar

tmen

tal c

apita

l bud

gets

are

app

ropr

iate

d th

roug

h A

ppro

pria

tion

Act

s (N

o. 1

, 3 a

nd 5

). Th

ey fo

rm p

art o

f ord

inar

y an

nual

ser

vice

s, a

nd a

re n

ot s

epar

atel

y

ide

ntifi

ed in

the

App

ropr

iatio

n A

cts.

For

mor

e in

form

atio

n on

ord

inar

y an

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ser

vice

s ap

prop

riatio

ns, p

leas

e se

e Ta

ble

A: A

nnua

l app

ropr

iatio

ns.

2. P

aym

ents

mad

e on

non

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ncia

l ass

ets

incl

ude

purc

hase

s of

ass

ets

and

expe

nditu

re o

n as

sets

whi

ch h

ave

been

cap

italis

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nd c

osts

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to m

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asse

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its o

rigin

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ondi

tion.

Cap

ital b

udge

t app

ropr

iatio

ns a

pplie

d in

201

3(c

urre

nt a

nd p

rior y

ears

)A

ppro

pria

tion

Act

Tota

l cap

ital

budg

et

appr

opria

tions

Pay

men

ts

for n

on-

finan

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as

sets

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Pay

men

ts

for o

ther

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rpos

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paym

ents

V

aria

nce

2013

cap

ital b

udge

t app

ropr

iatio

ns


Clean Energy RegulatorNote 25: Appropriations (continued)Table C: Unspent annual appropriations ('Recoverable GST exclusive')

2014$'000

2013$'000

DepartmentalAppropriation Act (No. 1) 2011-12 - - Appropriation Act (No. 2) 2011-12 - 3,638 Appropriation Act (No. 1) 2012-13 - 11,808 Appropriation Act (No. 2) 2012-13 5,098 5,098 Appropriation Act (No. 3) 2012-13 - 1,984 Appropriation Act (No. 1) 2013-14 10,190 - Appropriation Act (No. 2) 2013-14 - - Appropriation Act (No. 3) 2013-14 3,118 - Appropriation Act (No. 4) 2013-14 5,000 -

Total 23,406 22,528 Administered

Appropriation Act (No. 1) 2011-12 - - Appropriation Act (No. 1) 2012-13 - 1,780 Appropriation Act (No. 1) 2013-14 838 -

Total 838 1,780


6 F

inan

cial

sta

tem

ents

Cle

an E

nerg

y R

egul

ator

Not

e 25

: App

ropr

iatio

ns (c

ontin

ued)

Tabl

e D

: Spe

cial

app

ropr

iatio

ns a

pplie

d ('R

ecov

erab

le G

ST e

xclu

sive

')

2014

2013

Type

Purp

ose

$'00

0$'

000

Ren

ewab

le E

nerg

y (E

lect

ricity

) Act

200

0 -

sect

ion

157,

A

dmin

iste

red

Unl

imite

d am

ount

- -

Fina

ncia

l Man

agem

ent a

nd A

ccou

ntab

ility

Act

199

7 -

sect

ion

28, A

dmin

iste

red

Ref

und

prov

isio

ns

102

253

Cle

an E

nerg

y A

ct 2

011

-se

ctio

n 11

6, A

dmin

iste

red

Unl

imite

d am

ount

1,25

1,95

2 70

4,02

9 To

tal s

peci

al a

ppro

pria

tions

app

lied

1,25

2,05

4 70

4,28

2

Auth

ority

To p

rovi

de a

n ap

prop

riatio

n w

here

an

Act

or o

ther

law

re

quire

s or

per

mits

the

repa

ymen

t of a

n am

ount

re

ceiv

ed b

y th

e C

omm

onw

ealth

and

apa

rt fro

m th

is

sect

ion

ther

e is

no

spec

ific

appr

opria

tion

for t

he

repa

ymen

t. P

aym

ents

hav

e be

en m

ade

unde

r pr

ovis

ions

of t

he fo

llow

ing

Act

s:

- Ren

ewab

le E

nerg

y (E

lect

ricity

) Act

200

0To

pro

vide

an

appr

opria

tion

for t

he b

uy-b

ack

of c

erta

in

free

carb

on u

nits

spe

cifie

d by

sec

tion

116

of th

e C

lean

E

nerg

y A

ct 2

011.

Appr

opria

tion

appl

ied

To e

nabl

e pa

ymen

ts in

resp

ect o

f:a)

sec

tion

50 re

fund

s of

ove

rpai

d am

ount

sb)

sec

tion

98 re

fund

of c

harg

e w

here

cer

tific

ates

are

s

urre

nder

edc)

sec

tion

121

com

pens

atio

n fro

m d

amag

e to

ele

ctro

nic

e

quip

men

t.


Clean Energy RegulatorNote 25: Appropriations (continued)Table E: Reduction in administered items ('Recoverable GST exclusive')

Reduction in administered items for 2014Amount required2 -

by Appropriation Act No. 1

Total amount required3

Total amount appropriated4

Total reduction5

Ordinary annual servicesOutcome1 $3,257,640.43 $3,257,640.43 $3,745,000.00 $487,359.57

1. Numbers in this section of the table must be disclosed to the cent.2. Administered items for 2013-14 were reduced to these amounts when these financial statements were tabled in Parliament as part of the entity's 2013-14 annual report. This reduction was effective in 2014-15, but the amounts were reflected in Table A in the 2013-14 financial statements in the column 'Appropriations reduced' as they were adjustments to 2013-14 appropriations.3. Amount required as per Appropriation Act (Act No. 1 section 11 and Act No. 2 section 12).4. Total amount appropriated in 2013-14.5. Total reduction effective in 2014-15.

Reduction in administered items for 2013

Amount required2 - by Appropriation

Act No. 1Total amount

required3Total amount appropriated4

Totalreduction5

Ordinary annual servicesOutcome1 $3,861,893.10 $3,861,893.10 $4,539,000.00 $677,106.90

1. Numbers in this section of the table must be disclosed to the cent.2. Administered items for 2012-13 were reduced to these amounts when these financial statements were tabled in Parliament as part of the entity's 2012-13 annual report. This reduction was effective in 2013-14, but the amounts were reflected in Table A in the 2012-13 financial statements in the column 'Appropriations reduced' as they were adjustments to 2012-13 appropriations.3. Amount required as per Appropriation Act (Act No. 1 section 11 and Act No. 2 section 12).4. Total amount appropriated in 2012-13.5. Total reduction effective in 2013-14.


6 F

inan

cial

sta

tem

ents


2014$'000

2013$'000

Balance brought forward from previous period - -Increases:

Receipts from buyers - - Total increases - - Available for paymentsDecreases:Administered

Payments to sellers (185) - Receipts from buyers 186 -

Total administered 1 - Total balance carried to the next period 1 - 1. Appropriation: Financial Management and Accountability Act 1997, section 21.

Establishing Instrument: Renewable Energy (Electricity) Act 2000, section 30R.

Note 26: Special accounts ('Recoverable GST exclusive')

Renewable EnergySpecial Account1

Purpose: To receive amounts for the purchase of Small-scale Technology Certificates and to make payments for the transfer of certificates, refunds and GST through the Clearing House.During the reporting period there were payments of $185,280 (2013: $80) and receipts of $185,852(2013: $80).


Clean Energy RegulatorNote 27: Compliance with statutory conditions for payments from the Consolidated Revenue FundSection 83 of the Constitution provides that no amount may be paid out of the Consolidated Revenue Fund except under an appropriation made by law. The Department of Finance provided information to all agencies in 2011-12 and 2012-13 regarding the need for risk assessments to be conducted in relation to compliance with statutory requirements on payments from Special Appropriations, including Special Accounts. During 2013-14, the CER reviewed its exposure to risks of not complying with statutory requirements on payments from appropriations. The following payment types were reviewed: • Special Account payments • Special Appropriation payments • Long service leave payments • Goods and services tax (GST) payments • Payments under determinations of the Remuneration Tribunal

Special AccountsThe CER identified the following Special Accounts which contain statutory requirements for payments: • Renewable Energy Special Account - established under the Renewable Energy (Electricity) Act 2000Payments from this Special Account during 2013-14 totalled $185,280, with payments assessed as low risk. No breaches were identified.

Special AppropriationsThe CER identified the following legislation as having Special Appropriations involving statutory requirements for payment: • Renewable Energy (Electricity) Act 2000 • Clean Energy Act 2011

• Carbon Credits (Carbon Farming Initiative) Act 2011Payments from these Special Appropriations during 2013-14 totalled $1,251,952,370. Payments from these Special Appropriations were initially assessed as medium risk, however, existing controls and processes in place reduce the assessed risk to low. No breaches were identified.

Long Service Leave PaymentsThe CER is required to review complaince with section 83 of the Constitution and the Long Service Leave (Commonwealth Employees) Act 1976 (LSL Act).In relation to the CER's Long Service Leave (LSL) payments, the review concluded a risk rating of low. No breaches were identified.

Goods and Service Tax PaymentsA breach of s83 due to GST payment would only occur if the following two conditions are met: • the correct amount of the total departmental and administered appropriation has been exhausted, and • that there was no other appropriation which would support the withdrawal.

As the CER has not exhausted any of its appropriations and written to the Department of Finance requesting more funds to be appropriated, no s83 breaches were identified. The risk rating is low.

Determinations of the Remuneration TribunalLegal advice confirmed that the Financial Framework Legislation Amendment Act (No. 2) 2013 (FFLA Act) has materially affected the preparation of section 83 on determinations made by the Remunerations Tribunal and reduced the circumstances in which a payment under the Remuneration Tribunal Act 1973 in respect of a 'benefit' as defined in ss16A(6) and 16B(6) of the FFLA Act would involve a breach of section 83. No breaches were identified. The risk rating is low.

Other appropriationsThe CER identified the following legislation as having an Other Appropriation involving statutory requirements for payment: • Financial Management and Accountability Act 1997 - section 28.Payments from these Other Appropriations during 2013-14 totalled $102,430, with payments being assessed as low risk. No breaches were identified.


6 F

inan

cial

sta

tem

ents

Clean Energy RegulatorNote 28: Compensation and debt relief

2014$'000

2013$'000

Compensation and debt relief - departmentalNo ‘Act of Grace payments’ were expensed during the reporting period (2013: Nil) - - No waivers of amounts owing to the Australian Government were made pursuant to subsection 34(1) of the Financial Management and Accountability Act 1997 (2013: Nil) - - No waivers of amounts owing to the Australian Government were made(2013: Nil). - - No payments were provided under the Compensation for Detriment caused by Defective Administration Scheme during the reporting period (2013: Nil). - - No ex-gratia payments were provided for during the reporting period (2013: Nil). - - No payments were provided in special circumstances relating to APS employment pursuant to section 73 of the Public Service Act 1999 during the reporting period (2013: Nil). - -

Compensation and debt relief - administeredNo ‘Act of Grace payments’ were expensed during the reporting period (2013: Nil) - - No waivers of amounts owing to the Australian Government were made pursuant to subsection 34(1) of the Financial Management and Accountability Act 1997 (2013: Nil) - - No waivers of amounts owing to the Australian Government were made(2013: Nil). - - No payments were provided under the Compensation for Detriment caused by Defective Administration Scheme during the reporting period (2013: Nil). - - No ex-gratia payments were provided for during the reporting period (2013: Nil). - - No payments were provided in special circumstances relating to APS employment pursuant to section 73 of the Public Service Act 1999 during the reporting period (2013: Nil). - -


Clean Energy RegulatorNote 29: Reporting of outcomesNote 29A: Net cost of outcome delivery

2014$'000

2013$'000

2014$'000

2013$'000

DepartmentalExpenses 94,530 95,138 94,530 95,138 Own-source income (1,407) (1,610) (1,407) (1,610)

AdministeredExpenses 1,343,838 942,223 1,343,838 942,223 Income (4,410,832) (5,067,612) (4,410,832) (5,067,612)

Net contribution of outcome delivery (2,973,871) (4,031,861) (2,973,871) (4,031,861)

TotalOutcome 1


6 F

inan

cial

sta

tem

ents


Note 29B: Major classes of departmental expense, income, assets and liabilities by outcome

2014$'000

2013$'000

2014$'000

2013$'000

ExpensesEmployee benefits 39,684 40,679 39,684 40,679 Suppliers 37,477 38,752 37,477 38,752 Depreciation and amortisation 16,585 13,030 16,585 13,030 Finance costs 53 30 53 30Write-down and impairment of assets 731 2,524 731 2,524 Losses from asset sales - 123 - 123

Total expenses 94,530 95,138 94,530 95,138 Own-source income

Sale of goods and rendering of services 594 429 594 429Revenue from Government 81,353 78,799 81,353 78,799 Other gains 813 1,181 813 1,181

Total own-source income 82,760 80,409 82,760 80,409 Assets

Cash and cash equivalents 306 297 306 297Trade and other receivables 24,044 23,373 24,044 23,373 Other financial assets - 162 - 162Land and buildings 6,209 7,447 6,209 7,447 Property, plant and equipment 870 950 870 950Intangibles 37,732 44,266 37,732 44,266 Other non-financial assets 639 373 639 373

Total assets 69,800 76,868 69,800 76,868 Liabilities

Suppliers payables 3,939 11,167 3,939 11,167 Other payables 1,492 1,342 1,492 1,342 Employee provisions 9,552 9,431 9,552 9,431 Other provisions 1,827 1,407 1,827 1,407

Total liabilities 16,810 23,347 16,810 23,347

TotalOutcome 1

Note 29: Reporting of outcomes (continued)

Note: Outcome 1 is described in Note 1.1. Net costs shown included intra-government costs that were eliminated in calculating the actual budget outcome. Refer to Outcome 1 resourcing table of this annual report.



Note 29: Reporting of outcomes (continued)Note 29C: Major classes of administered expenses, income, assets and liabilities by outcome

2014$'000

2013$'000

2014$'000

2013$'000

ExpensesSuppliers 3,232 4,270 3,232 4,270 Subsidies 1,297,440 937,744 1,297,440 937,744 Write-down and impairment of assets 43,166 209 43,166 209

Total expenses 1,343,838 942,223 1,343,838 942,223 Income

Other taxes 4,397,535 5,048,229 4,397,535 5,048,229 Fees and fines 13,297 19,383 13,297 19,383

Total income 4,410,832 5,067,612 4,410,832 5,067,612 Assets

Cash and cash equivalents 1,012 1,305 1,012 1,305 Taxation receivables 1,403,556 1,417,729 1,403,556 1,417,729 Trade and other receivables 64 81 64 81

Total assets 1,404,632 1,419,115 1,404,632 1,419,115 Liabilities

Suppliers payables 351 3,667 351 3,667 Other payables - - - - Other provisions 292,410 231,413 292,410 231,413

Total liabilities 292,761 235,080 292,761 235,080

Note: Outcome 1 is described in Note 1.1. Net costs shown included intra-government costs that were eliminated in calculating the actual budget outcome.

Outcome 1 Total


6 F

inan

cial

sta

tem

ents


Note 30A: Cost recovery summary2014$'000

2013$'000

RevenuePayments to portfolio departments - -Administered 13,297 19,174

Total revenue 13,297 19,174

Cost recovered activities:Registration, application, accreditation and renewable energy certificate fees.

Note 30: Cost recovery

Departmental receipts of $313,299 for the National Solar Program were disclosed as receipts subject to cost recovery policy in 2012-13. In accordance with the cost recovery policy, including the Australian Governement Cost Recovery Guidelines, these receipts do not represent a cost recovery and have not been disclosed in 2013-14.


Clean Energy RegulatorNote 31: Net cash appropriation arrangements

2014$'000

2013$'000

Total comprehensive income less depreciation/amortisation expenses previously funded through revenue appropriations1

5,117 1,882 Plus: depreciation/amortisation expenses previously funded through revenue appropriation (16,585) (13,030)Total comprehensive loss - as per the Statement of Comprehensive Income (11,468) (11,148)

1. From 2010-11, the Government introduced net cash appropriation arrangements, where revenue appropriations for depreciation/amortisation expenses ceased. Entities now receive a separate capital budget provided through equity appropriations. Capital budgets are to be appropriated in the period when cash payment for capital expenditure is required.

clean energy regulatorstatement of comprehensive income ... · purchase of intangibles 10,244...

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