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:
- 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
- close family members of the portfolio minister or KMP including spouses, children and dependants
- all public sector entities that are controlled and consolidated into the whole of government financial statements
- 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 parties | Payments to related parties | Amounts owed by related parties | Amounts 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 Party | Revenue from related parties | Payments to related parties | Amounts owed by related parties | Amounts 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
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