apcc annual report report 2015_final.pdf · apcc annual report 2014 – 2015 australasian...

APCCANNUALREPORT

2014 – 2015

Australasian Procurement and Construction Council

www.apcc.gov.au

2 APCC: UNLOCKING SOLUTIONS THROUGH COLLABORATION

The APCC is an association incorporated underthe Associations Incorporation Act 1991 (ACT).

Street addressSuite D, 2 Geils CourtDeakin ACT 2600

Postal addressPO Box 106Deakin West ACT 2600

Tel +61 2 6285 2255Fax +61 2 6282 3787

Email [email protected] www.apcc.gov.au

Banker National Australia Bank

Auditor BellchambersBarrett

APCC Executive Director: Teresa Scott

CONTACT DETAILS


To be recognised as the leading source of knowledge and information ongovernment procurement, construction, asset management and property.

To advise governments and provide leadership to industry on procurement,construction, asset management and property by:

initiating policy developments to promote excellence in procurement,asset management, property and construction

adding value to the way governments work with the private sectorto deliver services to the community

providing a forum for suppliers and government buyers to interchangeideas and knowledge

participating in the development and promotion of e-business.

Committed to knowledge-sharing transfer across our membership tosupport and complement respective members’ work programs.

Committed to a coordinated and collaborative approach to our workprogram and defining the strategic direction to complement members’ work programs.

Committed to professional integrity in all aspects of APCC’s relationships andall members are treated with mutual respect.

Our leadership and collaboration fosters working relationships and exchange ofinformation and intelligence to derive benefit and influence the optimisation ofprocurement outcomes and service delivery for the Australian and Papua New Guineancommunities.

OUR VISION

OUR MISSION

OUR VALUES

OUR COLLABORATION


About the APCC 5How the APCC works 5Chair’s Report 6Executive Director’s Report 7Snapshot 2014–2015 9

Procurement Capability Development Working Group 10Leveraging Procurement Knowledge Forum 11International Procurement Consultative Group 12National Prequalification System for Non-Residential Building 12National Association of Women in Construction – Crystal Vision Award 12Construction – Project Team Integration and Building Information Modelling 13Guide to Successful Project and Asset Delivery 15Construction Product Quality Guide 15Government Property Group 16Australian Sustainable Built Environment Council 17Australian and New Zealand Government Procurement Agreement 17Standards Australia 17APCC Knowledge Hub 18

Member Authorities 19Council of CEOs 19Financial Reports 20

CONTENTS


LEADER IN PROCUREMENT EXCELLENCE

The APCC is providing leadership and promoting excellence in government procurement,construction, property and asset management through its role as a national body

for policy advice, principles and best practice.

The Australasian Procurement and Construction Council Inc (APCC) is the peak council whose membersare responsible for procurement, construction, property and asset management for the Australian,State and Territory Governments. Papua New Guinea is an associate member. The APCC comprises11 member agencies. The APCC takes its members beyond a single jurisdictional approach and taps intoa national collective to generate innovative solutions in procurement, and respond to the changingneeds of government.

Collaboration and intelligence-sharing facilitated by the APCC maximises the opportunities for allmember governments to leverage and add value to what and how governments buy and build, as wellas the management of leased and owned property.

The work of the APCC is at the forefront of driving procurement innovation, solutions and efficienciesdirected at creating savings and enhancing service delivery to Australian communities.

The APCC Council of Chief Executive Officers leads the direction of the APCC while the Leadership Groupdrives the overall work program. APCC projects are undertaken by action teams and/or working groupsconsisting of APCC members from relevant jurisdictions.

The APCC work program is solid and substantial, with projects focusing on the current and emergingissues facing member jurisdictions. APCC projects aim to increase savings, efficiencies, productivity,competitiveness and long-term sustainability to deliver tangible benefits for members.

The benefits derived from the APCC’s work program extend beyond its core member stakeholder group;direct flow-on benefits are realised by other government agencies and the Australian public.

The APCC plays a key role in the building and construction industry by providing a single, nationalinterface between government and industry. The long-established relationship with the AustralianConstruction Industry Forum (ACIF) enables progression of joint projects to enhance industryproductivity and deliver successful project outcomes.

The APCC Directorate is small and efficient team with responsibility for the day-to-day running of theAPCC.It takes an overarching facilitation, project management and delivery role of the work program.Through its administration of all projects, the Directorate creates synergies across projects and betweenmember agencies. It also informs on current trends and facilitates dialogue with external stakeholders.

ABOUT THE APCC

HOW THE APCC WORKS


This year, we haveinitiated changesthat will take ourorganisation intothe future andfurther position the

APCC as the peak bodysupporting the publicsector procurementand constructioncommunity.

David McHughChief Executive,Department ofInfrastructure,Northern Territory

In its meeting of May 2015, the Council endorsed a new APCC businessmodel, which widens the eligibility for APCC membership. The aimis to expand APCC’s support for the public sector procurement andconstruction sectors, further growing its successes in driving excellencethrough collaboration and knowledge-sharing activities.

Under the model, we are providing a new entry-level membership foragencies that have responsibility for procurement and/or construction.This Affiliate Membership enables government entities to join APCCSpecial Interest Group/s. These changes reflect developments in oursector. With the process of de-centralisation, many outer agencies nowhave responsibility for large and complex buying and building. Thecollaborative relationships and discussions conducted under the auspicesof the APCC will support these agencies, as well as enrich the value forcurrent members. The new model supports our current APCC StrategicPlan and will assist to deliver on it.

Of the many activities undertaken by the APCC over the past year, I’d liketo highlight the work related to building information modelling (BIM) andproject team integration (PTI). With the the Australian ConstructionIndustry Forum (ACIF), the APCC has released new publications on thesuccessful implementation of BIM. These new approaches have thepotential to significantly increase productivity across the sector.

APCC’s activities over the past 12 months to drive procurement excellencehas seen a larger cohort of practitioners coming together to garnergreater insights into other members’ procurement function. This insighthas led to improved practices, savings and avoidance of duplication.

I had the pleasure of taking up the role of Chair of the APCC in May 2015.I would like to thank our previous Chair, Neil Castles, for his supportand commitment to the APCC during his leadership and direction of theorganisation. Neil’s vision for state and territory governments to worktogether for optimum procurement outcomes is a lasting reminder of hisforesight.

In May 2015, we farewelled Jane Montgomery-Hribar who has beeninstrumental in the growth of the APCC over the past 21 years. Throughher hard work and passion, Jane has positioned the APCC as the leader ingovernment procurement and construction. Jane has personally drivenmany successful initiatives, which have supported APCC members andenhanced their service delivery to their broader communities. We wishJane the very best and acknowledge her accomplishments and legacy.

I invite you to review the many APCC ‘wins’ over the past 12 months inprocurement, construction and property. I thank the dedicated staff ofthe APCC Directorate for driving and delivering on an ambitious nationalwork program.

CHAIR’S REPORT


This year we have laid the foundations for the implementation of a newAPCC business model, to be effected 1 July 2015. The APCC’s new businessmodel aims to grow our public sector procurement and constructioncommunity. To better support those responsible for building and buying inthe public sector, the APCC will broaden its membership base to provideand expand knowledge-sharing opportunities and to drive value-for-moneyprocurement outcomes. This broader membership will present greatervalue to members’ procurement and construction teams through extendednetworks and a greater richness of exchange.

The APCC Knowledge Networks bring our practitioners together and givethem the opportunity to discuss everyday challenges. Through thisknowledge sharing, our members access new approaches and practicalsolutions. The networks are core to APCC’s role in increasing collaborationacross jurisdictions, developing our members’ procurement capabilities andworking towards value-for-money procurement outcomes.

Our Leadership Groups in Construction and Procurement have again beencritical drivers of APCC initiatives.

In December 2014, the APCC once again demonstrated its industryleadership and collaboration when the Hon. Bob Baldwin, ParliamentarySecretary to the Minister for Industry, launched the Framework for theAdoption of Project Team Integration and Building Information Modelling.This framework provides both government and industry with clear pathwaysfor the acceleration of digital data adoption.

I am also proud of, and congratulate, the team that developed theProcurement of Construction Products – A Guide to Achieving Compliance.The release of this guide is an excellent example of the APCC workingcollaboratively with key stakeholders to respond to a safety, quality andwaste issue in the construction industry. Launched on 1 September 2014,the guide is a world first.

Throughout the year, the APCC continued its work in identifyingopportunities to find smarter procurement solutions. The APCC hasdelivered substantial savings and efficiencies in spend, time and effort for itsmembers in 2014–15. We can be proud of our continued achievements andsuccesses.

I thank the APCC Council, Leadership Group, Working Groups and membersfor their ongoing commitment and contribution. As mentioned in the Chair’sReport, in May we celebrated the achievements of Jane Montgomery-Hribar. Having worked with Jane for the past 15 years, I’d like to recogniseher many achievements and her inspirational leadership.

The efficient team at the APCC Directorate is key to the workings of theorganisation and delivering on the APCC Strategic Plan. I thank them fortheir hard work and dedication.

In 2014–15, the APCCbuilt on its role as a

leader in governmentprocurement and

construction through anumber of significant

national initiatives andthrough its newbusiness model.

Teresa ScottExecutive Director, APCC

EXECUTIVE DIRECTOR’SREPORT


BROADENING THE PUBLIC SECTOR PROCUREMENT COMMUNITY

The new model for the APCC, to be effected 1 July 2015, will foster greater collaboration andinclusiveness, providing additional benefits to existing members, while welcoming new members. Thismodel allows wider membership of the APCC, expanding the organisation to include a larger pool ofresources and strategic thinkers, further developing the brains trust of the APCC.

Under the new model, the APCC Leadership Group is replaced by Special Interest Groups (SIGs) toprovide focused discussions and networking. A new Affiliate Membership level has been created tooffer a more affordable entry point for those government agencies with a narrow procurement orconstruction scope to join a single SIG.

“Being part of the APCC has given me a broader perspective of procurement.I share the knowledge with my colleagues across the Victorian Government.”

A NEW APCC MODEL IN 2015


SNAPSHOT2014–2015


Procurement Capability Development Working Group

The Procurement Capability Development Working Group (PCD) continues to lead APCC’s strongprofessionalisation of procurement agenda. The PCD has been implementing a coordinated andcoherent framework to build the breadth and depth of the procurement profession in Australia andNew Zealand.

Over the past year, the PCD has engaged on important issues, for example :

Sharing Procurement Capability Key Performance Indicators Sharing Capability standards and e-learning tools.

The following topics have been discussed by the PCD in relation to meeting current and futureprocurement capability requirements:

Bridging the gap between the PSP Training Package to CIPS global qualifications The development of professionalisation programs and career pathways Practical 70/20/10 application strategies Cross-jurisdictional Capability Surveys.

The PCD has recognised the need to build public sector procurement capability in contract management.It is now collaborating with International Association for Contract & Commercial Management (IACCM)to work on developing Australian-centric units for our practitioners.

The APCC continues its critical role in influencing the education sector at all levels on the clear need thatprocurement education must meet the demand for skills in the workplace.

The strong strategic alliance forged for many years between the APCC and the Chartered Institute ofPurchasing and Supply Australasia (CIPS Australasia) in developing and promoting the procurementprofession continues. The joint promotion, influence and recognition of procurement and strategicprocurement have made significant inroads and are ongoing.

Through its work, the PCD is improving the level ofprofessionalism in procurement across our public sector.

SNAPSHOT 2014–2015


Leveraging Procurement Knowledge Forum

The Leveraging Procurement Knowledge Forum (LPK Forum) maximises cross-jurisdictionalopportunities for collaborative arrangements. Collaboration through the APCC has led to millions ofdollars in savings for jurisdictions participating in three highly successful procurement agreements infuel procurement, rental of motor vehicle hire and international airfares.

The LPK Forum convenes monthly teleconferences to progress activities, learn from one another,participate in complex problem-solving, and to develop and monitor cross-jurisdictional agreements.

Category specific discussions are held to support member jurisdictional procurement decisions andexchange market intelligence. A range of categories is discussed to identify opportunities to collaboratefor value and impact. Over the past year, the following categories and topics have been explored.

Consultancy Use of data to improve category

management Understanding Consultants vs Contractors

vs Contingency Labour vs Body Shopping

Supplier Integrity Assessment Assessment of risks Insights into criteria used

Cloud Services Cloud vs traditional data storage methods Whole-of-government strategies Terms and conditions Potential savings and other benefits Data categorisation process Case studies Good practice and risk management

SME benchmarking Defining small to medium enterprises and

their levels of accessibility

The LPK Forum reported on the current Motor Vehicle Hire Contract with an analysis of spend andbenchmarking. All parties agreed to extend the arrangement for another 12 months until 30 June 2016.

Discussions on collaborating on accommodation arrangements continued and the QueenslandGovernment invited other jurisdictions to participate in its Travel Management Arrangement.

Benchmarking is underway on the procurement function, covering the areas of control, capability,maturity and governance. Measuring performance and integrated service delivery were other areasinvestigated during the year, with discussions continuing.

The LPK Forum continues to work proactivelyto improve the influence and position of government in the marketplace

to deliver improved value-for-money procurement outcomes for members.


APCC International Procurement Consultative Group

The APCC International Procurement Consultative Group (IPCG) is a forum that represents the interestsof APCC members and government procurement in international agreements. The IPCG has continuedto work with the Department of Foreign Affairs and Trade on free trade agreements, with particularattention on the Trans Pacific Partnership Agreement (TPP).

National Prequalification System for Non-Residential Buildings

The APCC led the development and implementation of the COAG initiative, the National PrequalificationSystem for Non-Residential Buildings (NPS) which came into effect on the 1 January 2011. The APCC NPSWorking Group continues to monitor the administration of the NPS. The annual review of the NPS wasconducted in February 2014.

The APCC has continued to uphold and promote consistency in streamlining “red tape” processes acrossAustralia, with the objective of cutting costs of prequalification for contractors working in multiplejurisdictions in non-residential government building contracts.

National Association of Women in Construction (ACT) Crystal Vision Award

In October 2014, Jane Montgomery-Hribar, Director of StrategicProjects at the APCC, was awarded the CPSISC Crystal VisionAward (ACT) by the National Association of Women inConstruction.

Jane has been in the building and construction industry sincethe beginning of her career. She has held several seniorexecutive positions, including General Manager of a largecommercial construction company and Executive Director of theAPCC. She was also Executive Director of the Royal AustralianInstitute of Architects, Victorian Chapter.

Throughout her career, Jane has challenged the predictablestereotypes that were commonplace 20 years ago. In additionto her own accomplishments, she was well known forencouraging women to assume and shine in leadershippositions, whether in government agencies, NGOs or industry.

Jane retired in July 2015 after 21 years with the APCC, havingpositioned it at the forefront of procurement and constructionthinking.


APCC and the Australian Construction Industry Forum

The Strategic Forum for Construction is an APCC and Australian Construction Industry Forum (ACIF)initiative. It is a unique body that brings together key stakeholders in the Australasian constructionindustry. The Forum acts as an entry point and significant interface between government and theconstruction sector. It facilitates positive change and encourages greater productivity.

The APCC and ACIF steered the PTI and BIM Summits in August and November 2014 and May 2015 inSydney, for representatives of the private and public Australian building and construction industry.The outcomes from the summit were four related projects, all of which have been finalised.

Project One – The Framework for the Adoption of the PTI and BIM:This has been the key priority project, with the framework launched inCanberra in December 2014 by the Hon. Bob Baldwin, ParliamentarySecretary to the Minister for Industry. The unique framework isdesigned to assist government and industry stakeholders understandthe changes needed to achieve optimum benefits from theimplementation of PTI and BIM in the built environment.

“This document outlines proposed activities required to successfullyimplement BIM across government agencies and private sector clients,as well as construction industry service providers, including thefacilitation of more integrated project teams from the outset.Its adoption embraces the new wave of technology available and beingused on a number of large government builds, such as hospitals, andprivate sector projects. Embracing PTI and BIM on a project is the waythe industry is heading.” Robin Fardoulys, Chairman, ACIF

Electronic copies of the Framework are available on the APCC website.

Project Two – National BIM Portal (developed by NATSPEC): The portal is a hub of BIM resources,including tools and educational tutorials. It provides downloadable NATSPEC BIM documents and detailsof BIM research and development projects with which NATSPEC is associated. It can be accessed athttp://www.bim.natspec.org/

We have seen the application and advantages of BIM in the UK and US.As our current level of PTI and BIM usage is still in its infancy,

now is the right time to put these processes on the map to provide governmentsand industry with clear pathways for greater efficiencies and cost savings.


Project Three – Procurement Models and Application of PTI and BIMGuide: Released in June 2014, the Building and ConstructionProcurement Guide: Project Team Integration and BuildingInformation Modelling explains how to integrate PTI and BIM intoeach procurement model. It will help promote a consistent approachto tendering and contracting across Australia and New Zealand.

Coinciding with the release of this guide, the APCC and ACIF jointlyhosted a webinar on 26 June 2015. The webinar discussed theprocuring of BIM and the differences it will make to project outcomes,such as the impact on productivity, profitability and collaboration.The webinar can be viewed at:https://www.youtube.com/watch?v=gWpPGH4B5pA

The guide is the latest in a series of nationally important initiatives toaccelerate the adoption of PTI and BIM. It is a companion resource tothe Austroads and APCC publication, Building and ConstructionProcurement Guide – Principles and Options.

‘Delivery models that use greater collaboration amongst project team membersand use BIM can drive out waste and avoid disputes

to deliver outstanding project outcomes.’Building and Construction Procurement Guide:

Project Team Integration and Building Information Modelling

Project Four – Education and Skills Program for PTI and BIM:This project is about crystallising the PTI and BIM knowledge and skills required by project participantsof all disciplines, across all project lifecycle phases. To maximise the benefits of BIM, industrypractitioners need to also be educated about collaborative work practices and processes that make useof BIM technologies.

PTI and BIM education and skills are a key element in the building and construction industry and criticalto improved productivity and remaining internationally competitive. The project goal is a coordinatednational framework for competencies, education and upskilling. Skill Sets (people, role and capabilities)have been developed in readiness for industry consultations. The initial Skill Sets are for:

Architect and Engineer (Principal Consultant or Director) Trades (Subcontractor) (inclusion of subset categories) Construction and Site Management Client Representative (public and private sector).

Additionally, a master matrix of competencies across building and construction sector disciplines wasmapped in 2015. It is anticipated that its implementation into the accreditation process and translationinto the Australian Qualification Framework (AQF) will be finalised in 2016.


Guide to Successful Project and Asset Delivery

The new Guide to Successful Project and Asset Delivery:Getting it Right Upfront was finalised and released in June 2015.

It provides a snapshot of the processes involved in planning, designingand constructing capital works assets, and includes existingcomplementary resources jointly developed by the APCC and ACIF.The focus is the front-end of projects – project initiation, projectdelivery planning, delivery team procurement, and project delivery.

Construction Product Quality

The Procurement of Construction Products – A Guide to AchievingCompliance is an excellent example of the APCC workingcollaboratively with external organisations. Launched on1 September 2014, this guide is a world first. It was developed bya working group chaired by the APCC, and comprising 30 keyindustry organisations.

Construction products represent a significant spend – an estimated30% of project costs. In 2011–12, around $82.62 billion dollars wasspent in Australia on their procurement. For government procurers,the compliance and durability of construction products are majorrisk factors which need to be managed as they impact significantlyon the service life and quality of building and infrastructure assets.

The publication aims to increase awareness, provide guidance, andimproved decision-making in the procurement and compliance issues of construction products.

The APCC called for any requests for revisions to the Guide in June 2015, with a revised edition plannedfor release in November 2015. Contained in the request were any recommendations for additionalappendices. Suggestions thus far are the Australian Timber Importers Federation, the Vinyl Council ofAustralia, insulation products and CodeMark.

This guide is a world first. Its release is an excellent example of theAPCC working collaboratively with key stakeholders to respond to a safety,quality and waste issue in the construction industry.


Government Property Group

The Government Property Group (GPG) is a self-funded committee with adedicated secretariat, run from the offices of the APCC. Its members, whorepresent State and Territory Governments around Australia in the area ofoffice accommodation, are Queensland, New South Wales, Australian Capital Territory, Victoria,South Australia, Western Australia and Northern Territory. In 2015–16, Tasmania will join thediscussions, completing the Australian picture.

In December 2014, the GPG welcomed New Zealand to the committee with great success. Theinformation exchanged has been invaluable and strengthens the relationship across the Tasman.

Governments work collaboratively to develop projects and policies that can benefit all jurisdictions.Over the past year, many topics were discussed, including the following areas of particular focus:

Security – analysis of existing security policies and frameworks across jurisdictions to establishwhether levels can be benchmarked and how they can be integrated into fit-out designs

Strategic asset management – keeping abreast of current levels of practice and opportunities forbest practice

Workplace change – activity-based working, public sector productivity, design and changemanagement; the GPG is continuing to develop documents to assist jurisdictions through theprocess of change management when transitioning to new styles of working

Energy efficient lighting opportunities – demonstrate significant energy and financial savings byimplementing a large-scale lighting upgrade program

Finance model and business rules for leased accommodation – gain an insight into jurisdictions’finance models, and identify strengths and weakness of these models

Subsidised rent arrangements – establish how each jurisdiction deals with the subsidised rents,and the issues being faced.

The GPG also revised areas where the opportunity to leverage from other jurisdictions may exist, suchas panel arrangements and property management KPIs.

The GPG aims to create smarter approaches to asset managementacross all GPG jurisdictions, with a focus on sustainable outcomes,

consistent policies and frameworks, and effective stakeholder engagement.

2014–2015 SNAPSHOT


Australian Sustainable Built Environment Council

The Australian Sustainable Built Environment Council (ASBEC) is a non-profit volunteer organisationwhich provides an effective forum for diverse groups involved in the built environment to collectivelydiscuss and progress issues on built environment sustainability in Australia.

The APCC was a founding member of ASBEC and continues to support its role and activities. The APCChas represented members’ interests during the past 12 months and it will continue this representationand exchange of intelligence in the year ahead.

Australian and New Zealand Government Procurement Agreement

Established in 1991, the Australian and New Zealand Government ProcurementAgreement (ANZGPA) creates a single competitive market for governmentpurchasing. Its objectives are for free trade through a single market concept andan absence of trade barriers and other forms of discrimination in governmentprocurement.

The ANZGPA is reviewed every five years. The latest review has been completedand was signed on 21 November 2014 by Ministers with responsibility forprocurement in Australia and New Zealand. The reviewed ANZGPA confirms thecommitment by APCC members to a single trans-Tasman competitive market.

Standards Australia

The APCC continued to be involved with Standards Australia. Several APCC Contracts Working Groupmeetings were held in relation to the new Australian Standard (AS) 11000 General Conditions ofContract (replacing AS 2124 and AS 4000-1997). The APCC has ensured public sector procurementinterests are reflected in the content of AS 11000.

This new standard was released for public comment during the year, and the APCC provided furthervaluable feedback to Standards Australia. The Working Group continues to monitor progress and willremain involved until the expected release of AS 11000 in early 2016.


APCC Knowledge Hub

The APCC continues to enhance its Knowledge Hub for the benefit of members, industry and thebroader community. In many instances, the information and materials accessible through the APCCKnowledge Hub are not available elsewhere.

The APCC website is a key source of information and resources for the procurement, construction,property and asset management public sector communities.

It provides:

Access to all APCC publications Fact sheets Offers for members Information on professional

development opportunities Links to postgraduate study in

strategic procurement National Code of Practice for the

Construction Industry and Federal Government Compliance Requirements Guidelines and forms for the National Prequalification System for Non-Residential Buildings Information from the Government Property Group Comprehensive links to government tender sites, industry bodies and relevant international

organisations.

The ‘members only’ Knowledge Hub provides a confidential forum for information exchange, access toresources and research, and work on APCC projects and activities.

The APCC Newsletter is emailed bi-monthly to APCC members and the broaderprocurement community. The newsletter is sent directly to 150 individuals but ithas a higher, pass-on readership that may be double this figure. The number ofsubscribers is growing all the time. The newsletter is an effective vehicle fordisseminating valuable information, saving members considerable time and effort.Interested readers can sign up to the newsletter on the APCC website.

APCC publications andfact sheets are provided

for download on the website.

www.apcc.gov.au


APCC MEMBER AUTHORITIES

AS AT 30 JUNE 2015

Mr David McHugh, ChairChief Executive, Department of Infrastructure,Northern Territory

Mr John Tondut, Secretary/TreasurerPrincipal Project Director, Strategic Projects,Department of Treasury, Western Australia

Mr Michael DeeganChief Executive, Department of Planning,Transport and Infrastructure, South Australia

Mr Simon SmithChief Executive, Office of Finance and Services,New South Wales

Mr John CroweActing Executive Director,Government Procurement,Department of Finance, Western Australia

Mr Bill SullivanDeputy Director General,Building Management and Works,Department of Finance, Western Australia

Mr Garry GoddardDeputy Under Treasurer, Department ofTreasury and Finance, South Australia

Ms Gayle PorthouseDeputy Secretary,Corporate and Government Services,Department of Treasury and Finance, Victoria

Mr Michael TennantChief Executive, Department of Business,Northern Territory

Mr David DawesDirector General, Chief Minister,Treasury and Economic Directorate,Australian Capital Territory

Mr Philip EludemeChairman, Central Supply and Tenders Board,Papua New Guinea

Australian Capital TerritoryChief Minister, Treasury and EconomicDevelopment Directorate

New South WalesDepartment of Finance, Services and Innovation

Northern TerritoryDepartment of BusinessDepartment of Infrastructure

QueenslandDepartment of Housing and Public Works

South AustraliaDepartment of Planning, Transport andInfrastructureDepartment of Treasury and Finance

VictoriaDepartment of Treasury and Finance

Western AustraliaDepartment of FinanceDepartment of Treasury

Papua New GuineaCentral Supply and Tenders Board

APCC COUNCIL


FINANCIALREPORT


COUNCIL’S REPORT


AUDITOR’S REPORT


The accompanying notes form part of these financial statements

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

for the year ended 30 June 2015

Note 2015$

2014$

Operational revenue 2 766,717 722,220

Project revenueGovernment Property Group revenue 85,720 72,086Special project revenue 12,738 3,136

Total project revenue 98,458 75,222

Total revenue 865,175 797,442

Operational expenditureStaffing costs 3 (564,829) (510,168)Depreciation expense 3 (12,888) (12,543)Office and Other Rent (49,179) (48,609)Information technology (6,542) (7,027)Telecommunications (11,217) (12,773)Meeting costs (22,409) (9,905)Travel costs (36,162) (27,526)Other operational expenses (64,168) (60,921)

Total operational expenditure (767,394) (689,472)

Project expenditureGovernment Property Group expenditure (85,720) (72,086)Special project expenditure (12,738) (3,136)

Total project expenditure (98,458) (75,222)

Total expenses (865,852) (764,694)

(Deficit) / surplus before income tax (677) 32,748

Income tax expense - -

(Deficit) / surplus from operations (677) 32,748

Other comprehensive income for the year - -

Total comprehensive income for the year (677) 32,748

STATEMENTS


STATEMENT OF FINANCIAL POSITION

as at 30 June 2015

Note 2015$

2014$

ASSETSCURRENT ASSETSCash and cash equivalents 5 860,403 402,614Financial assets 6 12,925 515,425Trade and other receivables 7 8,852 -Other current assets 8 18,853 6,135

TOTAL CURRENT ASSETS 901,033 924,174

NON-CURRENT ASSETSPlant and equipment 9 14,617 25,105

TOTAL NON-CURRENT ASSETS 14,617 25,105

TOTAL ASSETS 915,650 949,279

LIABILITIESCURRENT LIABILITIESTrade and other payables 10 69,842 91,187Provisions 11 149,167 112,236Other current liabilities 12 668,105 716,643

TOTAL CURRENT LIABILITIES 887,114 920,066

TOTAL LIABILITIES 887,114 920,066

NET ASSETS 28,536 29,213

EQUITYRetained earnings 28,536 29,213

TOTAL EQUITY 28,536 29,213


STATEMENT OF CHANGES IN EQUITYfor the year ended 30 June 2015

RetainedEarnings Total

$ $

Balance at 1 July 2013 (3,535) (3,535)

Surplus attributable tomembers 32,748 32,748

Balance at 30 June 2014 29,213 29,213

(Deficit) attributable tomembers (677) (677)

Balance at 30 June 2015 28,536 28,536

STATEMENT OF CASH FLOWSfor the year ended 30 June 2015

Note 2015 2014$ $

CASH FLOWS FROM OPERATING ACTIVITIESReceipts from members and customers 793,236 901,990Interest received 14,549 15,527Payments to suppliers and employees (850,096) (868,735)

Net cash (used in) / provided by operating activities (42,311) 48,782

CASH FLOWS FROM INVESTING ACTIVITIESProceeds from investments 502,500 19,575Purchase of plant and equipment (2,400) (10,336)

Net cash provided by investing activities 500,100 9,239

Net increase in cash held 457,789 58,021

Cash at beginning of financial year 402,614 344,593

Cash at end of financial year 5 860,403 402,614


NOTES TO THE FINANCIAL STATEMENTS

for the year ended 30 June 2015

Note 1: Statement of Significant Accounting Policies

These financial statements cover Australasian Procurement and Construction Council Incorporated as an individualentity. Australasian Procurement and Construction Council Incorporated is an Association incorporated in NewSouth Wales under the Associations Incorporations Act 1991 (ACT).

The financial statements were authorised for issue on 6 November 2015 by the Chair and Secretary/Treasurer onbehalf of the Council.

Basis of Preparation

Australasian Procurement and Construction Council Incorporated applies Australian Accounting Standards –Reduced Disclosure Requirements as set out in AASB 1053: Application of Tiers of Australian Accounting Standardsand AASB 2010–2: Amendments to Australian Accounting Standards arising from Reduced Disclosure Requirementsand other applicable Australian Accounting Standards – Reduced Disclosure Requirements.

The financial statements are general purpose financial statements that have been prepared in accordance withAustralian Accounting Standards – Reduced Disclosure Requirements of the Australian Accounting Standards Board(AASB) and the Associations Incorporation Act 1991 (ACT). The Association is a not-for-profit entity for financialreporting purposes under Australian Accounting Standards.

Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financialstatements containing relevant and reliable information about transactions, events and conditions. Materialaccounting policies adopted in the preparation of the financial statements are presented below and have beenconsistently applied unless stated otherwise.

The financial statements, except for the cash flow information, have been prepared on an accruals basis and arebased on historical costs, modified, where applicable, by the measurement at fair value of selected non-currentassets, financial assets and financial liabilities. The amounts presented in the financial statements have beenrounded to the nearest dollar.

Accounting Policies

a. Income Tax

The Council is exempt from income tax under the provisions of Section 50-5 of the Income Tax AssessmentAct 1997.

b. Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, deposits held at-call with banks, other short-term highlyliquid investments with original maturities of three months or less, and bank overdrafts.

NOTES


c. Leases

Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor,are charged as expenses on a straight-line basis over the lease term.

d. Trade and other Receivable

Trade and other receivables include amounts due from members as well as amounts receivable fromcustomers for goods sold in the ordinary course of business. Receivables expected to be collected within 12months of the end of the reporting period are classified as current assets. All other receivables are classifiedas non-current assets.

Trade receivables are initially recognised at fair value and subsequently measured at amortised cost usingthe effective interest method, less any provision for impairment. Refer to Note 1(h) for further discussionon the determination of impairment losses.

e. Plant and Equipment

Each class of property, plant and equipment is carried at cost or fair value as indicated less, whereapplicable, any accumulated depreciation and impairment losses.

Plant and equipment are measured on the cost basis and are therefore carried at cost less accumulateddepreciation and any accumulated impairment losses. In the event the carrying amount of plant andequipment is greater than its estimated recoverable amount, the carrying amount is written downimmediately to its estimated recoverable amount and impairment losses recognised either in profit or lossor as a revaluation decrease if the impairment losses relate to a revalued asset. A formal assessment ofrecoverable amount is made when impairment indicators are present (refer to Note 1(h) for details ofimpairment).

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, asappropriate, only when it is probable that future economic benefits associated with the item will flow tothe Council and the cost of the item can be measured reliably. All other repairs and maintenance arerecognised as expenses in profit or loss during the financial period in which they are incurred.

Depreciation

The depreciable amount of all fixed assets is depreciated on a straight-line basis over the asset’s useful lifecommencing from the time the asset is held ready for use. Leasehold improvements are depreciated overthe shorter of either the unexpired period of the lease or the estimated useful lives of the improvements.

The depreciation rates used for each class of depreciable assets are:

Class of Fixed Asset Depreciation RatePlant and equipment 10% - 33%Computer equipment 33%Computer software 33%

The assets’ residual values and useful lives are reviewed and adjusted, if appropriate, at the end of eachreporting period. Gains and losses on disposals are determined by comparing proceeds with the carryingamount. These gains or losses are included in the statement of profit or loss and other comprehensiveincome. When revalued assets are sold, amounts included in the revaluation relating to that asset aretransferred to retained earnings.


f. Financial Instruments

Initial Recognition and Measurement

Financial assets and financial liabilities are recognised when the Council becomes a party to the contractualprovisions of the instrument. For financial assets, this is equivalent to the date that the Council commitsitself to either purchase or sell the asset (i.e. trade date accounting is adopted).

Financial instruments are initially measured at fair value plus transactions costs except where theinstrument is classified at ‘fair value through profit or loss’ in which case transaction costs are expensed toprofit or loss immediately.

Classification and subsequent measurement

Finance instruments are subsequently measured at either fair value, amortised cost using the effectiveinterest rate method or cost. Fair value represents the amount for which an asset could be exchanged or aliability settled, between knowledgeable, willing parties. Where available, quoted prices in an active marketare used to determine fair value. In other circumstances, valuation techniques are adopted.

Amortised cost is calculated as the amount at which the financial asset or financial liability is measured atinitial recognition less principal repayments and any reduction for impairment, and adjusted for anycumulative amortisation of the difference between that initial amount and the maturity amount calculatedusing the effective interest method.

The effective interest method is used to allocate interest income or interest expense over the relevantperiod and is equivalent to the rate that exactly discounts estimated future cash payments or receipts(including fees, transaction costs and other premiums or discounts) through the expected life (or when thiscannot be reliably predicted, the contractual term) of the financial instrument to the net carrying amountof the financial asset or financial liability. Revisions to expected future net cash flows will necessitate anadjustment to the carrying amount with a consequential recognition of an income or expense item in profitor loss.

Fair value is determined based on current bid prices for all quoted investments. Valuation techniques areapplied to determine the fair value for all unlisted securities, including recent arm’s length transactions,reference to similar instruments and option pricing models.

(i) Financial assets at fair value through profit and loss

Financial assets are classified at “fair value through profit or loss” when they are held for trading for thepurpose of short-term profit taking, where they are derivatives not held for hedging purposes, or whenthey are designated as such to avoid an accounting mismatch or to enable performance evaluation where agroup of financial assets is managed by key management personnel on a fair value basis in accordance witha documented risk management or investment strategy. Such assets are subsequently measured at fairvalue with changes in carrying value being included in profit or loss.


Note 1: Statement of Significant Accounting Policies (cont’d)

f. Financial Instruments (cont’d)

(ii) Loans and receivables

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are notquoted in an active market and are subsequently measured at amortised cost. Gains or losses arerecognised in profit or loss through the amortisation process and when the financial asset is derecognised

Loans and receivables are included in current assets, except for those which are not expected to maturewithin 12 months after the end of the reporting period, which will be classified as non-current assets.

(iii) Held-to-maturity investments

Held-to-maturity investments are non-derivative financial assets that have fixed maturities and fixed ordeterminable payments, and it is the Council’s intention to hold these investments to maturity. They aresubsequently measured at amortised cost. Gains or losses are recognised in profit or loss through theamortisation process and when the financial asset is derecognised.

(iv) Available-for-sale financial assets

Available-for-sale investments are non-derivative financial assets that are either not capable of beingclassified into other categories of financial assets due to their nature or they are designated as such bymanagement. They comprise investments in the equity of other entities where there is neither a fixedmaturity nor fixed or determinable payments.

They are subsequently measured at fair value with any remeasurements other than impairment losses andforeign exchange gains and losses recognised in other comprehensive income. When the financial asset isderecognised, the cumulative gain or loss pertaining to that asset previously recognised in othercomprehensive income is reclassified into profit or loss.

Available-for-sale financial assets are classified as non-current assets when they are expected to be soldwithin 12 months after the end of the reporting period. All other available-for-sale financial assets areclassified as current assets.

(v) Financial liabilities

Non-derivative financial liabilities other than financial guarantees are subsequently measured at amortisedcost. Gains or losses are recognised in profit or loss through the amortisation process and when thefinancial liability is derecognised.



f. Financial Instruments (cont’d)

Impairment

At the end of each reporting period, the Council assesses whether there is objective evidence that afinancial asset has been impaired. A financial asset (or a group of financial assets) is deemed to be impairedif, and only if, there is objective evidence of impairment as a result of one or more events (a “loss event”)having occurred, which has an impact on the estimated future cash flows of the financial asset(s).

In the case of available-for-sale financial assets, a significant or prolonged decline in the market value of theinstrument is considered to constitute a loss event. Impairment losses are recognised in profit or lossimmediately. Also, any cumulative decline in fair value previously recognised in other comprehensiveincome is reclassified into profit or loss at this point.

In the case of financial assets carried at amortised cost, loss events may include: indications that thedebtors or a group of debtors are experiencing significant financial difficulty, default or delinquency ininterest or principal payments; indications that they will enter bankruptcy or other financial reorganisation;and changes in arrears or economic conditions that correlate with defaults.

When the terms of financial assets that would otherwise have been past due or impaired have beenrenegotiated, the Council recognises the impairment for such financial assets by taking into account theoriginal terms as if the terms have not been renegotiated so that the loss events that have occurred areduly considered.

Derecognition

Financial assets are derecognised when the contractual right to receipt of cash flows expires or the asset istransferred to another party whereby the entity no longer has any significant continuing involvement in therisks and benefits associated with the asset. Financial liabilities are derecognised when the relatedobligations are discharged or cancelled, or have expired. The difference between the carrying amount ofthe financial liability extinguished or transferred to another party and the fair value of consideration paid,including the transfer of non-cash assets or liabilities assumed, is recognised in profit or loss.

g. Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GSTincurred is not recoverable from the Australian Taxation Office (ATO).

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amountof GST recoverable from, or payable to, the ATO is included with other receivables or payables in thestatement of financial position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing orfinancing activities which are recoverable from, or payable to, the ATO are presented as operating cashflows included in receipts from customers or payments to suppliers.



h. Impairment of Assets

At the end of each reporting period, the Council assesses whether there is any indication that an asset maybe impaired. If such an indication exists, an impairment test is carried out on the asset by comparing therecoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use,to the asset’s carrying amount. Any excess of the asset’s carrying amount over its recoverable amount isrecognised immediately in profit or loss, unless the asset is carried at a revalued amount in accordance withanother Standard (eg in accordance with the revaluation model in AASB 116). Any impairment loss of arevalued asset is treated as a revaluation decrease in accordance with that other Standard.Where it is not possible to estimate the recoverable amount of an individual asset, the Council estimatesthe recoverable amount of the cash-generating unit to which the asset belongs.

Where the future economic benefits of the asset are not primarily dependent upon the asset’s ability togenerate net cash inflows and when the entity would, if deprived of the asset, replace its remaining futureeconomic benefits, value in use is determined as the depreciated replacement cost of an asset.

Where an impairment loss on a revalued asset is identified, this is recognised against the revaluationsurplus in respect of the same class of asset to the extent that the impairment loss does not exceed theamount in the revaluation surplus for that class of asset.

i. Revenue and Other Income

When grant revenue is received whereby the Council incurs an obligation to deliver economic value directlyback to the contributor, this is considered a reciprocal transaction and the grant revenue is recognised inthe statement of financial position as a liability until the service has been delivered to the contributor,otherwise the grant is recognised as income on receipt.

If conditions are attached to the grant which must be satisfied before it is eligible to receive thecontribution, the recognition of the grant as revenue will be deferred until those conditions are satisfied.

Non-reciprocal grant revenue is recognised in profit or loss when the Council obtains control of the grant, itis probable that the economic benefits gained from the grant will flow to the Council and the amount of thegrant can be measured reliably.

Donations and bequests are recognised as revenue when received.

Revenue from the sale of goods is recognised at the point of delivery as this corresponds to the transfer ofsignificant risks and rewards of ownership of the goods and the cessation of all involvement in those goods.

Interest revenue is recognised using the effective interest rate method, which, for floating rate financialassets is the rate inherent in the instrument. Dividend revenue is recognised when the right to receive adividend has been established.

All revenue is stated net of the amount of goods and services tax (GST).



j. Trade and Other Payable

Trade and other payables represent the liabilities outstanding at the end of the reporting period for goodsand services received by the Council during the reporting period that remain unpaid. The balance isrecognised as a current liability with the amounts normally paid within 30 days of recognition of theliability.

k. Employee Provisions

Short-term employee benefits

Provision is made for the association’s obligation for short-term employee benefits. Short-term employeebenefits are benefits (other than termination benefits) that are expected to be settled wholly before 12months after the end of the annual reporting period in which the employees render the related service,including wages, salaries and personal leave. Short-term employee benefits are measured at the(undiscounted) amounts expected to be paid when the obligation is settled.

The association’s obligations for short-term employee benefits such as wages, salaries and personal leaveare recognised as a part of current trade and other payables in the statement of financial position.

Other long-term employee benefits

Provision is made for employees’ long service leave entitlements not expected to be settled wholly within12 months after the end of the annual reporting period in which the employees render the related service.Other long-term employee benefits are measured at the present value of the expected future payments tobe made to employees. Expected future payments incorporate anticipated future wage and salary levels,durations of service and employee departures, and are discounted at rates determined by reference tomarket yields at the end of the reporting period on government bonds that have maturity dates thatapproximate the terms of the obligations. Any remeasurements of obligations for other long-termemployee benefits for changes in assumptions are recognised in profit or loss in the periods in which thechanges occur.

The association’s obligations for long-term employee benefits are presented as non-current provisions in itsstatement of financial position, except where the association does not have an unconditional right to defersettlement for at least 12 months after the reporting date, in which case the obligations are presented ascurrent provisions.

l. Comparative Figures

Where required by Accounting Standards, comparative figures have been adjusted to conform to changesin presentation for the current financial year.



m. Key Estimates

Key estimates – Impairment

The Council assesses impairment at the end of each reporting period by evaluation of conditions and eventsspecific to the Council that may be indicative of impairment triggers. Recoverable amounts of relevantassets are reassessed using value-in-use calculations which incorporate various key assumptions.

The Council determined conditions of impairment through obtaining market information about the cost ofthe existing assets in which would cost to purchase at current arm’s length market prices.

n. Key Judgements

Employee benefits

For the purpose of measurement, AASB 119: Employee Benefits (September 2011) defines obligations forshort-term employee benefits as obligations expected to be settled wholly before 12 months after the endof the annual reporting period in which the employees render the related services. As the Associationexpects that all of its employees would use all of their annual leave entitlements earned during a reportingperiod before 12 months after the end of the reporting period, the Association believes that obligations forannual leave entitlements satisfy the definition of short-term employee benefits and, therefore, can bemeasured at the (undiscounted) amounts expected to be paid to employees when the obligations aresettled.

o. New accounting standards and interpretations

New accounting standards and interpretations have been assessed and concluded to have no effect on thefinancial statements on their initial application, such that no disclosures under AASB 108: AccountingPolicies, Changes in Accounting Estimates and Errors or other transitional disclosures have been triggered.


2015 2014$ $

Note 2: Revenue and other income

Operational revenue:— membership subscriptions 656,795 637,364— special project officer funding 75,000 48,868— UNSPCC membership 5,544 5,173— royalties from sale of books 732 790— interest received 14,549 15,527— management fee income from GPG 9,600 9,600— other income 4,497 4,898

Total Revenue 766,717 722,220

Note 3: Deficit for the year

a. Expenses

Rental expense on operating lease— minimum lease payments 46,807 48,609

b. Significant Expenses

The following significant expense items are relevant inexplaining the financial performance:

Depreciation 12,888 12,543Staffing Costs 564,829 491,274(Includes salaries, internal and external consultant costs,annual and long service leave provisions, staff development,and workers compensation).

Note 4: Key Management Personnel Compensation

The totals of remuneration paid to Key Management Personnel (KMP) of the Council during the year are as follows:

Key management personnel compensation– Salary and wages 196,767 178,737


Note 5: Cash and Cash Equivalents

Cash at bank 859,843 402,064Cash on hand 550 550

860,403 402,614

Reconciliation of Cash

Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in thestatement of financial position as follows:

Cash and cash equivalents 860,403 402,614

Note 6: Financial Assets

CURRENTTerm deposits - 500,000Bank guarantee 12,925 12,925Other financial assets - 2,500

12,925 515,425

Note 7: Trade and Other Receivables

CURRENTTrade receivables 946 -Other receivables 7,906 -

8,852 -

Financial assets classified as loans and receivablesTrade receivables 14 8,852 -

Note 8: Other Current Assets

CURRENTPrepayments 18,225 5,581Accrued income 628 554

18,853 6,135

2015 2014$ $


Note 9: Plant and Equipment

Plant and Equipment at cost 48,589 48,589Less accumulated depreciation (39,815) (32,178)

8,774 16,411

Computer Equipment at cost 118,222 115,822Less accumulated depreciation and impairment (112,517) (107,608)

5,705 8,214

Computer Software at cost 21,396 21,396Less accumulated amortisation (21,258) (20,916)

138 480

Total Plant and Equipment 14,617 25,105

Movements in carrying amounts

Movements in carrying amounts for each class of Plant and Equipment between the beginning and the end of thecurrent financial year.

Plant &Equipment

ComputerEquipment

ComputerSoftware

Total

$ $ $ $Balance at 1 July 2014 16,411 8,214 480 25,105Additions - 2,400 - 2,400Depreciation expense (7,637) (4,909) (342) (12,888)

Carrying amount at 30 June 2015 8,774 5,705 138 14,617

Note 10: Trade and Other Payables

CURRENTTrade creditors and accruals 19,202 32,910GST payable 41,488 51,648Superannuation and PAYG payable 9,152 6,629

69,842 91,187

(a) Financial liabilities at amortised cost classified as trade and other payable

Trade and other payables 69,842 91,187Less GST and FBT payableLess superannuation and PAYG payable

(41,488)(9,152)

(51,648)(6,629)

Financial liabilities as trade and other payables 14 19,202 32,910

2015 2014$ $

Note 2015 2014$ $


Note 11: Provisions

CURRENTProvision for annual leave 96,033 68,012Provision for long service leave 53,134 44,224

149,167 112,236

Analysis of ProvisionsAnnual leave Long service

leaveTotal

$ $ $Opening Balance at 1 July 2014 68,012 44,224 112,236Additional provisions raised during the year 28,021 8,910 36,931

Balance at 30 June 2015 96,033 53,134 149,167

Provision for Employee BenefitsEmployee provisions represent amounts accrued for annual leave and long service leave.

The current portion for this provision includes the total amount accrued for annual leave entitlementsand the amounts accrued for long service leave entitlements that have vested due to employees havingcompleted the required period of service. Based on past experience, the association does not expect thefull amount of annual leave or long service leave balances classified as current liabilities to be settledwithin the next 12 months. However, these amounts must be classified as current liabilities since theassociation does not have an unconditional right to defer the settlement of these amounts in the eventemployees which to use their leave entitlement.

The non-current portion for this provision includes amounts accrued for long service leave entitlementshave not yet vested in relation to those employees who have not yet completed the required period ofservice.

Note 12: Other current liabilities

CURRENTMembership subscriptions received in advance 544,727 551,170Income received in advance – consultancy 123,378 165,473

668,105 716,643

Note 2015 2014$ $

Note 2015 2014$ $


Note 13: Capital and Leasing Commitments

2015$

2014$

a. Operating Lease Commitments

Non-cancellable operating leases contracted for butnot capitalised in the financial statements

Payable — minimum lease payments— not later than 12 months 54,221 52,642— between 12 months and 5 years 9,081 63,302

63,302 115,944

The property lease at Unit 4, 2 Geils Court, Deakin is a non-cancellable lease with a five-year term, with rentpayable monthly in advance. Contingent rental provisions within the lease agreement specify fixed reviewdates and new rent amounts. This lease began on 1 September 2011.

Note 14: Financial Risk Management

The Council’s financial instruments consist mainly of deposits with banks, short term investments, accountsreceivable and accounts payable.

The totals for each category of financial instruments, measured in accordance with AASB 139 as detailed inthe accounting policies of these financial statements, are as follows

NOTE 2015$

2014$

Financial assets

Cash and cash equivalents 5 860,403 402,614Financial assets 6 12,925 515,425Receivables 7 8,852 -

882,180 918,039Financial liabilities

Financial liabilities at amortised cost- Trade and other payables 10a 19,202 32,910

19,202 32,910

Fair Values

Fair values of held-to-maturity investments are based on maturity value of the term deposit at the end of thereporting period.


Note 15: Contingent Liabilities and Contingent Assets

As at balance date the Council has no known contingent liabilities or contingent assets.

Note 16: Events After Balance Sheet Date

No matters or circumstances have arisen since the end of the financial year to the date of this report that havesignificantly affected or may significantly affect the operations of the Council, the results of those operations or thestate of affairs of the Council in future financial years.

Note 17: Related Party Transactions

The Council did not receive any remuneration in connection with services provided and transactions between theCouncil and member entities are on normal commercial terms.

Note 18: Council Details

The registered office and principal place of business of the Council is:

Australasian Procurement and Construction CouncilSuite D2 Geils CourtDeakin ACT 2600


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Australasian Procurement and Construction Council

Suite D, 2 Geils Court, Deakin ACT 2600+61 2 6285 2255

[email protected] | www.apcc.gov.au

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