South East Queensland: Governance
Accountability statement
1. This water accounting report has been prepared and presented in accordance with the Australian Water Accounting Standard 1, with the following exceptions:
- No assurance statement was prepared because the practice of assurance of water accounting reports are currently not available.
- No information is disclosed about material events that occurred after 30 June 2019, such as extreme precipitation and significant water rights purchases. This information is publicly available elsewhere.
- The volumes of water assets and water liabilities including the volumes of changes to water assets and water liabilities that failed the recognition criteria were reported in the water accounting statements with dashes ('–') in order to highlight data and knowledge gaps that may affect the water accounting statement balances.
2. The report has been compiled from the best data available, as detailed in the water accounting statement notes, in the time available to compile it from a number of sources. The Bureau of Meteorology takes a nationally-consistent approach to report preparation and presentation.
3. All significant and specific interpretations of the Australian Water Accounting Standard 1 for the purpose of the preparation of this report are explained in the 'Water accounting policies' note. The Bureau of Meteorology is responsible for these interpretations.
Dr Robert Argent
General Manager, Water
Bureau of Meteorology
21 February 2020
Water accounting policies
Introduction
The information presented in the South East Queensland region report is based on collaboration between the Bureau of Meteorology and:
- Council of the City of Gold Coast
- Logan City Council
- Qldwater
- Queensland Department of Natural Resources, Mines and Energy
- Queensland Department of Environment and Science
- Queensland Urban Utilities
- Redland City Council
- Seqwater
- Unitywater.
This report has been prepared using an accrual basis of water accounting, with the exception of the physical water flow information. The water attribute being quantified is volume, and the unit of account is megalitres (ML). Where a reported volume is negative, it is shown in brackets. The applicable reporting period is from 1 July 2018 to 30 June 2019.
Recognition of water assets and water liabilities
Only water that is held or managed by the State licensing authority or the urban utilities and from which a future probable benefit can be derived by the region's stakeholders is defined as a water asset.
Water liabilities are constituted by present commitments to supply water, the discharge of which is expected to result in a probable decrease of the region's water assets or a probable increase in another water commitment to supply water.
Provided its volume can be quantified in a way that is complete, neutral, and free from material error, the volume of the water asset or water liability is recognised in the Statement of Water Assets and Water Liabilities.
Water held in storages that has already been abstracted from the entitlement system is deemed not to be part of the region (regardless of the storage's size or connection to the system). This is because the attendant water right has already been exercised.
Recognition of changes in water assets and water liabilities
The increases and decreases to the reported water assets and water liabilities consist of changes that can be quantified in a way that is complete, neutral and free from material error. These volumes are presented in the Statement of Changes in Water Assets and Water Liabilities and the Statement of Water Flows.
Precipitation and evaporation are recognised only in relation to the surfaces of open storage and river volumes. They do not represent all precipitation, evaporation and evapotranspiration within the region (notably, these processes occurring from the landscape are not captured).
That portion of runoff that flows into the surface water store (storages and rivers) is quantified and recognised on the Statement of Changes in Water Assets and Water Liabilities. This runoff includes precipitation captured in the catchment, less evaporation and infiltration, and is recorded as runoff to surface water.
Allocations announced on regulated (supplemented) entitlements have been recognised as increases in water liabilities. Note that the definition of regulated or unregulated entitlements for the purpose of the National Water Account (refer to 'Glossary') may be different to the meaning applied by the jurisdiction. Please refer to the Water access and use note for more information on the allocations.
Water assets and water liabilities that fail the recognition criteria
The volumes of several water assets and water liabilities identified in the South East Queensland region were not recognised in the water accounting statements but replaced by dashes ('–') as they 'failed the recognition criteria' specified in the Australian Water Accounting Standard 1, because:
- they could not be quantified in a way that is complete, neutral, and free from material error
- they were unlikely to provide a future benefit to the region or the region's stakeholders.
Water assets that failed the recognition criteria include lakes and wetlands, and underlying aquifers.
Changes to water assets and water liabilities that fail the recognition criteria
There are no items to report under this category.
Restatement of comparative information
In accordance with the Australian Water Accounting Standard 1, comparative year volumes must be restated in the statements if there is a prior period error or a change in item presentation. Comparative year volumes are not required to be restated if there is a change in scope or methodology or subsequent data availability for the quantification of an item.
Urban water system
Comparative year volumes related to urban water assets were restated from the 2014 Account due to a change in presentation. Urban water assets, which represent water held in distribution pipes and channels, and service reservoirs, were no longer considered as water assets in the region as this water is needed for operation of the system and no direct benefit is derived.
As a result of this change, comparative year unaccounted-for difference volumes were also restated in this account.
Between-store flows
In the 2014–2017 Accounts, transactions between water assets and water liabilities within the region (e.g. between the surface water store and the groundwater store) were not reported in the water accounting statements. In this account, however, these between-store transactions were included as they provide a better understanding of the water movement that occurs at each water store or system. Comparative year volumes for these transactions are also reported.
Groundwater allocation and forfeiture
Comparative year volumes related to groundwater allocation and forfeiture were restated from the 2015, 2016, and 2017 Accounts due to a prior period error. The reported volume for groundwater allocation: individual users incorrectly excluded the volume of allocations relating to the Cooloola Sandmass aquifer. The comparative year items restated in this account include:
- Allocation: individual users
- Adjustment and forfeiture: individual users
Non-allocated diversions
Comparative year volumes related to non-allocated surface water diversions were restated from the 2018 Account due to a prior period error. The reported volume for non-allocated diversion to the urban water system incorrectly included groundwater extraction data. The comparative year items restated in this account include:
- Non-allocated diversion: surface water
- Non-allocated diversion: urban system
Reconciliations
Introduction
The following reconciliation tables verify:
- how the region’s closing water storage in the Statement of Water Flows reconciles to the total water assets reported in the Statement of Water Assets and Water Liabilities
- how the water accounting region’s change in water storage in the Statement of Flows reconciles to the change in net water assets reported in the Statement of Changes in Water Assets and Water Liabilities.
Closing water storage to total water assets
| 2019 ML | |
| Closing water storage presented in the Statement of Water Flows | 1,672,643 |
| Storages | 1,658,789 |
| Rivers | 2,739 |
| Lakes and wetlands | – |
| Groundwater | |
| Water table aquifer | 11,115 |
| Underlying aquifers | – |
| Total water storage as presented in the Statement of Water Assets and Water Liabilities | 1,672,643 |
| add other water assets | 0 |
| Total water assets | 1,672,643 |
Net change in water storage to the change in net water assets
| 2019 ML | |
| Change in net water assets as presented in the Statement of Changes in Water Assets and Water Liabilities | (466,697) |
| adjustments for: | |
| Change in non-physical water assets | 0 |
| Change in water liabilities | |
| Surface water liability | |
| Allocation remaining: individual users and urban system | 0 |
| Groundwater liability | |
| Allocation remaining: individual users | 0 |
| Total change in water liabilities | 0 |
| Net change in water storage as presented in the Statement of Water Flows | (466,697) |