❓ Details annual new borrowings for the Department of Health from 2008-09 to 2014-15, focusing on finance lease liabilities, particularly for Fiona Stanley Hospital and Data Centres. Notes inconsistencies with Treasury data and accounting treatment changes for Data Centre borrowings.
AnsweredQoN 5058Legislative Assembly
QuestionView source ↗
What have been the
annual new borrowings for each financial year from 2008-09 to 2014-15 for the Department of Health?
annual new borrowings for each financial year from 2008-09 to 2014-15 for the Department of Health?
AnswerView source ↗
Answered
24 March 2016
Responded by
Minister for Health
Response time
29 days
Table 1 below provides details of new borrowing obligations recognised by WA Health in the period from 2011-12 to 2014-15. As noted below no new borrowings were incurred by WA Health in the period from 2008-09 to 2010-11.
This data is consistent with, but differs from, the finance lease information provided in Legislative Assembly Question on Notice 5062 (using information sourced from Treasury), which is highlighted in the introduction that only net movements in leases are held in Treasury systems.
The values include new borrowings adjusted for repayments, detailing the balance required to discharge the obligation owed to the finance provider at a point in time. The balances owed by WA Health at the end of the period are as presented within the audited financial statements.
Table1
Period Ending Balance (Non-Current Liabilities- Borrowings)
Finance Lease Liability - Fiona Stanley Hospital
*Finance Lease Liabilities - Data Centres
30/06/2012 ($Million)
16.513
N/A
30/06/2013 ($Million)
122.436
N/A
30/06/2014 ($Million)
219.261
7.800
30/06/2015 ($Million)
296.712
6.069
* The agreement for the borrowing for the Data Centre was entered in to during 2012/13 financial year, however it was not classified as a borrowing in the financial statement for the 2012/13 and 2013/14 years nor the associated Annual Reports.
The liability was first recognised in the financial statements during 2014/15 and therefore was first recorded in the Annual Report for 2014/15. This was due to advice being sought on appropriate accounting treatments.
As the 2014/15 Annual Report also includes a column showing the 2013/14 numbers next to the 2014/15 column for comparative reasons, the 2013/14 column was restated to show the liability.
This data is consistent with, but differs from, the finance lease information provided in Legislative Assembly Question on Notice 5062 (using information sourced from Treasury), which is highlighted in the introduction that only net movements in leases are held in Treasury systems.
The values include new borrowings adjusted for repayments, detailing the balance required to discharge the obligation owed to the finance provider at a point in time. The balances owed by WA Health at the end of the period are as presented within the audited financial statements.
Table1
Period Ending Balance (Non-Current Liabilities- Borrowings)
Finance Lease Liability - Fiona Stanley Hospital
*Finance Lease Liabilities - Data Centres
30/06/2012 ($Million)
16.513
N/A
30/06/2013 ($Million)
122.436
N/A
30/06/2014 ($Million)
219.261
7.800
30/06/2015 ($Million)
296.712
6.069
* The agreement for the borrowing for the Data Centre was entered in to during 2012/13 financial year, however it was not classified as a borrowing in the financial statement for the 2012/13 and 2013/14 years nor the associated Annual Reports.
The liability was first recognised in the financial statements during 2014/15 and therefore was first recorded in the Annual Report for 2014/15. This was due to advice being sought on appropriate accounting treatments.
As the 2014/15 Annual Report also includes a column showing the 2013/14 numbers next to the 2014/15 column for comparative reasons, the 2013/14 column was restated to show the liability.
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