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.
|Cash at Bank|
|Total amount held by Comcare at the beginning of the reporting period||1,176||1,245|
|Available for payment||1,386||1,294|
|Total value held by Comcare at the end of the reporting period||1,315||1,176|
The above values are estimated at fair value at the time when acquired.