Note 15: Transition to Australian equivalents to international financial reporting standards

Account Name	Opening balance 1 July 2006 $	Receipts $	Payments $	Closing balance 30 June 2007 $
Critchley Parker Junior Student Loan Fund	15,850	1,023	1,202	15,671
The Woodward Visual Arts Bequest	822	13	835	-
Sir John Morris Memorial Fund	945,924	143,710	25,111	1,064,523
TM Crisp Memorial Sporting Library	15,881	776	700	15,957

The department acts under a trustee arrangement in the administration of certain library and student funds. These funds are neither administered nor controlled. Accordingly they are not recognised in the financial statements. However, disclosure is made in aggregate the amount collected and distributed to external parties during the reporting period and any amount undistributed at 30 June 2007.

The Woodward Visual Arts Bequest was finalised and closed during 2006-07.

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