Page 93

Forest NSW Annual Report 2012

Notes to and forming part of the financial statements For the year ended 30 June 2012 (iii) Statement of Financial Position – Current Liabilities Economic Economic Statutory Statutory Entity Entity Corporation Corporation 2012 2011 2012 2011 $'000 $'000 $'000 $'000 Forestry Commission Division - - (13 310) (12 130) Total - - (13 310) (12 130) (iv) Statement of Financial Position – Non-Current Liabilities Economic Economic Statutory Statutory Entity Entity Corporation Corporation 2012 2011 2012 2011 $'000 $'000 $'000 $'000 Forestry Commission Division - - (10 526) (4384) Total - - (10 526) (4384) Subsidiaries The consolidated financial statements include the financial statements of the subsidiaries listed in the following table % Equity % Equity Investment Investment Incorporation Country of Interest Interest $'000 $'000 2012 2011 2012 2011 Forestry Commission Division* Australia 100% 100%   - Timber & Carbon Plantations Pty Ltd** Australia - 100%   - Total   - - - - *Special purpose entity consolidated under AASB interpretation 112 **Company liquidated 07/12/2011 Key Management Personnel Dr.Richard Sheldrake Commissioner of the Forestry Commission of NSW Nick Roberts Chief Executive Officer, Forests NSW Barry Heffernan Acting Director-Finance & Technology (09/07/2011-15/01/2012) Anshul Chaudhary Director - Finance & Technology, Forests NSW (Appointed 16/01/2012) Dean Anderson Director - Native Forests Operations Forests NSW Director - Timber & Carbon Plantations Pty Ltd (company liquidated 07/12/2011) Ross Dickson Director - Land Management & Forestry Services, Forests NSW Ian Brown Director - Planted Forests Operations, Forests NSW Rahmat Khaiami Executive Officer – Government and Community Relations, Forests NSW Della Prowse Director - People, Learning & Culture, Forests NSW On DTIRIS payroll from 7/1/2011, resigned 04/05/2012 Sean Hooper Director – Financial & Operational Business Services, Forests NSW (Resigned 8/7/2011) Director – Timber & Carbon Plantation Pty Ltd (Resigned 8/7/2011) Short-Term Post Other Long Termination Share-based Total Employee Employment Term Benefits payment $'000 Benefits Benefits Benefits $'000 $'000 $'000 $'000 $'000 30 June 2012 Total Compensation 1423 - - 34 - 1457 30 June 2011 Total Compensation 1698 - - - - 1698 The Commissioner for Forests NSW receives remuneration for services rendered to Forests NSW of $9966 (2011: $9966). All transactions by Forests NSW with key management personnel are conducted on an arm’s length basis in the normal course of business and on commercial terms and conditions. There are no outstanding balances relating to any key management personnel and no guarantees provided or received as well by the key management personnel. For the year ended 30 June 2012, Forests NSW has not raised any provision for doubtful debts relating to amounts owed by key management personnel (2011 nil). Forests NSW Annual Report 2011–12 Social, Environmental and Economic Performance 93


Forest NSW Annual Report 2012
To see the actual publication please follow the link above