Note 6.1 Assets held in trust

Comcare Beneficiaries Trust Account (BTA)

The BTA was established on 1 December 1988 to administer compensation benefits paid under both the Compensation (Commonwealth Government Employees) Act 1971 and the SRC Act to beneficiaries that are under a legal disability. The vast majority of these are children under the age of 18 who have been awarded compensation following the death of a parent under compensable circumstances.

These monies are not available for other purposes of Comcare and are not recognised in the financial statements.

    2016
$'000
2015
$'000
Cash at Bank
Total amount held by Comcare at the beginning of the reporting period   1,176 1,245
Add: Funds deposited 140 -
Interest earned 70 49
Available for payment 1,386 1,294
Less: Final payouts 71 118
Ad-hoc payments - -
71 118
Total value held by Comcare at the end of the reporting period   1,315 1,176
Total 1,315 1,176

The above values are estimated at fair value at the time when acquired.