for the period ended 1July 2012 to 30 June 2013

Statement by the Director, Office of the Fair Work Building Industry 71
Inspectorate (FWBII) and Chief Financial Officer 71
Statement of Comprehensive Income 72
Balance Sheet 73
Statement of Changes in Equity 74
Cash Flow Statement 75
Schedule of Commitments 76
Schedule of Contingencies 77
Administered Schedule of Comprehensive Income 78
Administered Schedule of Assets and Liabilities 78
Administered Reconciliation Schedule 79
Administered Cash Flow Statement 79
Schedule of Administered Commitments 80
Schedule of Administered Contingencies 80
Notes to and forming part of the financial statements 81
Note 1 Summary of Significant Accounting Policies 82
Note 2 Events After the Reporting Period 88
Note 3 Expenses 88
Note 4 Income 91
Note 5 Financial Assets 92
Note 6 Non-Financial Assets 93
Note 7 Payables 97
Note 8 Employee Provisions 98
Note 9 Cash Flow Reconciliation 98
Note 10 Contingent Assets and Liabilities 99
Note 11 Senior Executive Remuneration 100
Note 12 Remuneration of Auditors 102
Note 13 Financial Instruments 102
Note 14 Financial Assets Reconciliation 104
Note 15 Administered – Income 104
Note 16 Administered – Financial Assets 105
Note 17 Administered – Cash Flow Reconciliation 106
Note 18 Administered – Contingent Assets and Liabilities 106
Note 19 Administered – Financial Instruments 107
Note 20 Administered Financial Assets Reconciliation 107
Note 21 Appropriations 108
Note 22 Compensation and Debt Relief 110
Note 23 Reporting of Outcomes 111
Note 24 Net Cash Appropriation Arrangements 114
Note 25 Compliance with Statutory Conditions for Payments from the Consolidated Revenue Fund 114