Only water that is held or managed by the state licensing authority is identified as a water asset. Provided its volume can be quantified accurately, the asset is recognised in the Statement of Water Assets and Water Liabilities. Where a water asset or water liability does not meet the recognition criteria, it is reported in the Statement of Water Assets and Water Liabilities with a dash (–). Water held in off-channel private storages that has already been abstracted from the entitlement system is deemed not to be part of the water report region (no matter their size or connection to the system). This is because the attendant water right has already been exercised.
While water within Line item 1.2 Unregulated channel is a vital water asset for the conveyance of water within the water report region, it cannot be quantified accurately due to a lack of reliable information.
Details of volumes of water stored in lakes and wetlands are available in Line item 1.4 Lakes and wetlands – connected. The line item includes information only for Lake Albert and Lake Alexandrina. Volume of water stored in other lakes and wetlands are not available.
The volume of Line item 2.3 Groundwater store assets included in the water accounting statements will be the long-term average extraction limit plus basic landowner right of groundwater, representing the ‘extractable portion’ that is required under Exposure Draft of Australian Water Accounting Standard 1 (WASB, 2010, p. 13, paragraph 71). The relationship (i.e. depth/distance) between the water table and the environmentally sustainable limit changes during the year and on a year-to-year basis. As such, in any one year the actual depth of the water table or piezometric surface may be very different to the long-term average level. Due to the fact that information about the actual groundwater levels is not available, the long-term average information may be an appropriate quantification method for the groundwater asset.
The increases and decreases to the water assets and water liabilities reported consist only of changes that can be quantified accurately. Where a change to a water asset or water liability does not meet the recognition criteria, it is reported in the Statement of Changes in Water Assets and Water Liabilities and the Statement of Physical Water Flows with a dash (–). These increases and decreases form part of:
Precipitation and evaporation are recognised only in relation to the storage surfaces (Line item 13.1 Precipitation on connected surface water and Line item 14.1 Evaporation from connected surface water). It does not represent all precipitation, evaporation and evapotranspiration within the water report region (notably, these processes occurring from the landscape are not captured).
The portion of run-off that flows into the connected surface water store is quantified and recognised. This run-off includes precipitation captured in the catchment less estimated evaporation and seepage and recorded as Line item 13.4.1 Run-off to connected surface water.
The volume of water that returns from irrigation (Line item 13.4.2 Diffuse return of irrigation water to connected surface water) to the Unregulated channel (Line item 1.2) and Regulated channel (Line item 1.3) meets the identification criteria as an increase to water assets; however, as it cannot be quantified accurately, it is not recognised in the Statement of Changes in Water Assets and Water Liabilities and Statement of Physical Water Flows. The imbalance is reported in Line item 14.10 that accounts riparian and floodplain use.
The volume of water that returns after urban use (Line item 13.7.1 Discharge of urban wastewater to connected surface water) meets the identification criteria as an increase to water assets; wherever it could be quantified accurately it is recognised in the Statement of Changes in Water Assets and Water Liabilities and Statement of Physical Water Flows, and information is provided in the Notes.
The accounting concepts for ‘regulated’ and ‘unregulated’ applied for the National Water Account 2010 may differ from the legislative interpretation in some jurisdictions. See the note ‘Water rights, entitlements, allocations and trade’ for more details.
When water is managed under a bulk entitlement in Victoria (see sections 2.1.1.2 and 3.2 of the contextual statement) the National Water Account 2010 reports at the level of the collective retail water access entitlements issued under the bulk entitlements. This means that the water liabilities identified against the water report region are the allocations announced on these retail entitlements. Where a bulk entitlement holder has a claim over water located outside the water report region, that claim will likewise be identified as a water asset of the water report region.
It is assumed that all water traded (allocation trade) within the Murray–Darling Basin has been provided to an account holder within the Murray–Darling Basin region, even though delivery may be provided via the distribution network to a location outside of the region. As a result, water trades do not impact on the consolidated Water Assets and Water Liabilities of the water report region, thus they are not reported in the water accounting statements. Some water trades result in the conversion of the category and purpose of use, which will affect their classification in the water accounting statements. Information about inter-state, inter-valley and intra-valley trade is included in the Notes.
Transfers of water that occur across the boundaries of the Murray–Darling Basin region and impact on the Water Asset and Water Liabilities of the water report region are reported in the water accounting statements. Information about these transfers is also provided in the Notes.
The following external transfers are reported in the water accounting statements:
The following transfers form part of allocation diversion volumes, and are not reported separately in the water accounting statements:
The following transfer is not reported in the water accounting statements as it is a direct import by the Toowoomba Council distribution system, which is not considered part of the water report region:
National Water Account 2010
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