Note 23. Cash and Cash Equivalents
The Directorate holds a number of bank accounts. In 2013, as part of the Whole-of-Government banking arrangements, the Directorate transitioned banking services from the Commonwealth Bank to Westpac Banking Corporation. As part of these arrangements, the Directorate received interest at the rate of 3.44% (4.87% in 2012). These funds are able to be withdrawn upon request.
|Cash on Hand||46||47|
|Cash at Banka||9,516||69,332|
|Total Cash and Cash Equivalents||9,562||69,379|
a) The decrease in cash at bank is mainly due to the 2012 balance being unusually high due to the levels of payables associated with cash drawn down from Treasury and the timing of the payment of capital works invoices.