leave and other entitlements which are
accrued at balance date and are expected
to be paid or settled within 12 months of
balance date are accrued at nominal amounts
calculated on the basis of current wage and
salary rates, inclusive of associated on-costs.
Liabilities for other employee entitlements
which are not expected to be paid or
settled within 12 months of balance date,
are calculated as per Australian Accounting
Standard AAS30; Accounting of Employee
Entitlements: The liabilities are calculated
at the present value of the expected future
payments to be made in respect of services
provided by employees up to balance date. In
assessing future payments, regard is given to
experience
WCC FUNDING SOURCES
State
Federal
Council Grants
Philanthropic/Private
Service income
Donations/Fundraising
Other
g) Superannuation
The entity makes to the superannuation plan
which provided benefits to employees.
1,500,000
1,000,000
500,000
/1
4
14
/1
5
20
13
/1
3
20
12
/1
2
20
11
/1
1
20
10
/1
0
20
09
/9
20
08
/8
20
07
/7
20
06
20
05
/6
-‐
/5
k) Comparative Information
Comparative information, where necessary, has
been reclassified to comply with the 30 June
2014 financial statement presentation.
2,000,000
20
j) Creditors
These amounts represent unpaid liabilities
for goods received and services provided to
the entity prior to the end of the reporting
period. These amounts are unsecured and are
normally settled within 7 days).
2,500,000
04
i) Grants
Grants are recognised as revenues when the
entity obtains control over assets. Outstanding
grants over which the entity has control are
recognised as receivables and recorded at
nominal amounts.
WCC RREVENUE
GROWTH
WCC
evenue
Growth
/ 5 - 2014 / 15
2004/5-‐2014/15
2004
3,000,000
20
h) Cash for the purpose of the Statement of
Cash Flows
Cash includes cash deposits which are readily
convertible to cash on hand and are subject to
an insignificant risk of change in value which
are used in the cash management function on
a day to day basis.
29