Australian Government - Royal Australian Mint

Annual Report 2005-06

• Skip to content
• Table of Contents
• Financial Reports

Finance and Systems

Assets Management

The Mint manages both current and non-current assets in accordance with guidelines set out in the Chief Executive Instructions and Australian Accounting Standards.

The Mint's non-current assets are subject to an annual stocktake to ensure accuracy of records. The Mint's asset revaluation strategy ensures correctness of the carrying fair value amount as at the reporting date. In 2005-06, the Australian Valuation Office conducted a desktop revaluation of the Mint's plant and equipment and leasehold improvements.

The Mint manages four types of fixed asset classes: plant and equipment, leasehold improvements, intangibles and the National Coin Collection. These assets have a total net value of $14.2 million, including $0.6 million work in progress associated with the Mint building refurbishment project.

All assets were assessed for impairment at the reporting date.