Financial Statements 2008–2009

Part five

Aboriginal and Torres Strait Islander Land Account (Administered)	2009 $'000	2008 $'000
Legal Authority: Aboriginal and Torres Strait Islander Act 2005; section 192W
Appropriation: Financial Management and Accountability Act 1997; section 21
Purpose: to provide a secure stream of income to the Indigenous Land Corporation in perpetuity to provide economic, environmental, social and cultural benefits for Aboriginal people and Torres Strait Islanders by assisting in the acquisition and management of an Indigenous land base.
This account is interest bearing
Balance carried from previous period	166	313
Realised investments	1,713,697	1,895,918
Interest receipts	122,663	82,146
Total credits	1,836,526	1,978,377
Payments made to the Indigenous Land Council	(44,789)	-
Investments debited from the special account (FMA s39)	(1,791,416)	(1,978,211)
Total debits	(1,836,205)	(1,978,211)
Balance carried to next period (excluding investment balances) and represented by:	321	166
Cash - held by the agency	321	166
Total balance carried to the next period	321	166

Aboriginal and Torres Strait Islander Land Account Investment of Public Money: Special Appropriations under section 39 of the FMA Act	2009 $'000	2008 $'000
Opening Balance	1,635,510	1,553,217
Investments made:
From special account	1,791,416	1,978,211
Investments realised	(1,713,697)	(1,895,918)
Closing Balance	1,713,229	1,635,510