13.1 Adjustment and forfeiture of surface water allocation
The volume recognised in the water accounting statements (14,266 ML) represents the total forfeiture of water allocations for all surface water supply to individual users in the Ord region during the 2011–12 year.
The portion of surface water allocation that has not been abstracted at the end of the 2011–12 year is forfeited. The forfeiture is calculated as the total annual allocation for each licence minus total allocation diversion; however, given that the volume of abstraction is estimated to be the full allocation (refer to line item 17.11), this component of the forfeiture is assumed to be zero.
Entitlements that are terminated during the 2011–12 year are also considered to be forfeitures.
Assumptions, limitations, caveats and approximations
Forfeiture is calculated based on available abstraction data. Where the abstraction data are estimated, the forfeiture is subject to the same assumptions and limitations of the abstraction data (refer to line item 17.11).
The uncertainty estimate was not quantified.