1 ROLE AND FUNCTION OF
THE SOUTH AUSTRALIAN FORESTRY CORPORATION

The South Australian Forestry Corporation (SAFC), trading under the name of ForestrySA, was established under the South Australian Forestry Corporation Act 2000 on 1 January 2001. The SAFC is subject to the provisions of the Public Corporations Act 1993. SAFC has the key responsibilities of:

• managing State–owned plantation forests including harvesting and delivery of forest products to customers

• supporting and facilitating forestry industry development

• providing recreational access to forest reserves

• managing native forests for conservation purposes

• providing policy support and advice to Government, the industry and the community.

In addition to its business operations, SAFC is funded for the provision of certain community service obligations (CSOs). These are:

• forest industry development

• forestry policy and legislative support

• community use of forests

• native forest management; and

• community protection (including fire protection).

			CONTENTS

Contents ForestrySA Home
	NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
	1 ROLE AND FUNCTION OF THE SOUTH AUSTRALIAN FORESTRY CORPORATION The South Australian Forestry Corporation (SAFC), trading under the name of ForestrySA, was established under the South Australian Forestry Corporation Act 2000 on 1 January 2001. The SAFC is subject to the provisions of the Public Corporations Act 1993. SAFC has the key responsibilities of: • managing State–owned plantation forests including harvesting and delivery of forest products to customers • supporting and facilitating forestry industry development • providing recreational access to forest reserves • managing native forests for conservation purposes • providing policy support and advice to Government, the industry and the community. In addition to its business operations, SAFC is funded for the provision of certain community service obligations (CSOs). These are: • forest industry development • forestry policy and legislative support • community use of forests • native forest management; and • community protection (including fire protection).		CORPORATE PROFILE CORPORATE SCORECARD EXECUTIVE INTRODUCTION CORPORATE OVERVIEW LEGISLATION ADMINISTERED BY FORESTRYSA SIGNIFICANT ACHIEVEMENTS AND INITIATIVES 2003-2004 KEY INITIATIVES AND TARGETS FOR 2004-2005 CORPORATE STRUCTURE SOUTH AUSTRALIAN FORESTRY CORPORATION BOARD AND CORPORATE GOVERNANCE FREEDOM OF INFORMATION STATEMENT CHARTER OF THE SOUTH AUSTRALIAN FORESTRY CORPORATION SOCIAL SOCIAL SCORECARD COMMUNITY FORESTRY SPONSORSHIPS AND MAJOR COMMUNITY EVENTS Forest Reserves COMMUNITY EVENTS FORESTRY DEVELOPMENT POLICY ABORIGINAL RECONCILIATION STATEMENT HUMAN RESOURCES MATTERS ORGANISATIONAL DEVELOPMENT EQUAL EMPLOYMENT OPPORTUNITY PROGRAMS OCCUPATIONAL HEALTH, SAFETY & INJURY MANAGEMENT ENVIRONMENTAL ENVIRONMENTAL SCORECARD FORESTRYSA’S ENVIRONMENTAL MANAGEMENT POLICY INTEGRATED MANAGEMENT SYSTEMS AND CONTINUAL IMPROVEMENT INTEGRATED RISK MANAGEMENT RESEARCH AND FOREST HEALTH NATIVE FOREST MANAGEMENT FOREST FIRE PROTECTION ENERGY EFFICIENCY ACTION PLAN ECONOMIC ECONOMIC SCORECARD BUSINESS PERFORMANCE PRODUCTION ACTIVITIES CONTRACTURAL ARRANGEMENTS FRAUD USE OF CONSULTANTS ACCOUNT PAYMENT SUMMARY INTERNATIONAL TRAVEL FOREST STATISTICS FINANCIAL STATEMENT STATEMENT OF FINANCIALperformance AT 30 JUNE 2004 STATEMENT OF FINANCIAL POSITION AT 30 JUNE 2004 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2004 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS 1 ROLE AND FUNCTION OF THE SOUTH AUSTRALIAN FORESTRY CORPORATION 2 summary of significant accounting policies 3 CHANGES IN ACCOUNTING POLICIES 4 FUNDING 5 CHANGE IN NET MARKET VALUE OF GROWING TIMBER 6 PROFIT 7 INCOME TAX 8 BAD AND DOUBTFUL DEBTS 9 AUDITORS REMUNERATION 10 RECEIVABLES 11 INVENTORIES 12 OTHER CURRENT ASSETS 13 (a) PROPERTY, PLANT AND EQUIPMENT 13 (b) PROPERTY, PLANT AND EQUIPMENT MOVEMENT SCHEDULE 14 Tax asssets 15 CREDITORS AND ACCRUALS 16 Employee benefits 17 INTEREST BEARING LOAN 18 tax liabilities 19 OTHER LIABILITIES 20 EQUITY 21 contributed equity 22 RETAINED PROFITS 23 DIVIDENDS PAID AND PROPOSED 24 RESERVES 25 EXPENDITURE COMMITMENTS 26 STATEMENT OF CASH FLOWS 27 SCHEDULE OF ADMINISTERED ITEMS 28 REMUNERATION OF DIRECTORS AND EMPLOYEES 29 RELATED PARTY DISCLOSURES 30 FINANCIAL INSTRUMENTS AUDITOR GENERAL’S REPORT GLOSSARY

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