22. Related parties

a) Related parties

The Department of Primary Industry and Resources is a government administrative entity and is wholly owned and controlled by the NT Government. Related parties of the department include:

  1. the portfolio minister and key management personnel (KMP) because they have authority and responsibility for planning, directing and controlling the activities of the department directly
  2. close family members of the portfolio minister or KMP including spouses, children and dependants
  3. all public sector entities that are controlled and consolidated into the whole of government financial statements
  4. any entities controlled or jointly controlled by KMPs or the portfolio minister or controlled or jointly controlled by their close family members.

b) Key management personnel (KMP)

Key management personnel of the Department of Primary Industry and Resources are those persons having authority and responsibility for planning, directing and controlling the activities of the department. These include the Minister for Primary Industry and Resources, the Chief Executive Officer and the nine members of the Board of Management.

c) Remuneration of key management personnel

The details below exclude the salaries and other benefits of Minister for Primary Industry and Resources as the minister’s remunerations and allowances are payable by the Department of the Legislative Assembly and consequently disclosed within the Treasurer’s annual financial statements.

The aggregate compensation of key management personnel of the department is set out below:

2018-19
$000
2017-18
$000
Short-term employee benefits 2,147 1,426
Post-employment benefits 259 135
Termination benefits 271 0
Total 2,677 1,561

d) Related party transactions:

Transactions with NT Government-controlled entities

The department’s primary ongoing source of funding is received from the Central Holding Authority in the form of output and capital appropriation and on-passed Commonwealth national partnership and specific purpose payments.

The following table provides quantitative information about related party transactions entered into during the year with all other NT Government-controlled entities.

2019

Related Party

Revenue from related partiesPayments to related partiesAmounts owed by related partiesAmounts owed to related parties
2018-19
$000
2018-19
$000
2018-19
$000
2018-19
$000
All NT Government departments 4,598 13,767 169 616
Associates 0 0 0 0
Subsidiaries 0 0 0 0
Total 4,598 13,767 169 616

2018

Related PartyRevenue from related partiesPayments to related partiesAmounts owed by related partiesAmounts owed to related parties
2017-18
$000
2017-18
$000
2017-18
$000
2017-18
$000
All NT Government departments 5,460 12,642 107 470
Associates 0 0 0 0
Subsidiaries 0 0 0 0
Total 5,460 12,642 107 470

The department’s transactions with other government entities are not individually significant.

Other related party transactions are as follows:

Given the breadth and depth of NT Government activities, related parties will transact with the NT public sector in a manner consistent with other members of the public, including paying stamp duty and other government fees and charges. Therefore, these transactions have not been disclosed.There were no related party transactions in excess of $10,000.


ANNUAL REPORT 2018-19 - DEPARTMENT OF PRIMARY INDUSTRY AND RESOURCES


Last updated: 23 October 2019

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