TORRES STRAIT REGIONAL AUTHORITY
Notes to and forming part of the financial statements for the period ended 30 June 2014
Note 13A: Related Party Disclosures
Loans to Directors and Director-Related Entities
Loans were made to the following directors and director-related entities. They were approved under normal terms and conditions applying to the TSRA's loan schemes. The directors involved took no part in the relevant decisions of the board.
| TSRA Director Name | Council Relationships |
| Mr Joseph | Elu Northern Peninsula Area Regional Council |
| Mr Reginald Williams | Northern Peninsula Area Regional Council |
| Mr Keith Fell | Torres Strait Island Regional Council |
| Mr Getano Lui (Jnr) | Torres Strait Island Regional Council |
| Mr Mario Sabatino | Torres Strait Island Regional Council |
| Mr Willie Lui | Torres Strait Island Regional Council |
| Mr John Abednego | Torres Shire Council |
| Mr Yen Loban | Torres Shire Council |
The table below outlines the loan holder/s and the TSRA director with whom a related party connection exists.
Loans
Seisia Community Torres Strait Islander Corporation
- Joseph Elu - TSRA Chairperson
Seisia Island Council
- Joseph Elu - TSRA Chairperson
Elthies Alion Bowie
- Aven Noah and John Abednego - TSRA Board Members
Ronald George Passi
- Aven Noah - TSRA Board Member
Robert Sagigi
- John Abednego - TSRA Board Member
Anthony Titsey
- Keith Fell - TSRA Board Member
James Mills
- Keith Fell - TSRA Board Member
Michael Paul Mills
- Keith Fell - TSRA Board Member
Quintin Morris Mills
- Keith Fell - TSRA Board Member
Ruth Doolah
- Keith Fell - TSRA Board Member
Triple A Family Values Pty Ltd
- Keith Fell - TSRA Board Member
Mica Newie
- Kiwat Lui - TSRA Board Member
Harry Nona
- Maluwap Nona and Romina Fuji - TSRA Board Members
Thomas Fujii
- Maluwap Nona and Romina Fuji - TSRA Board Members
Bonita Yamashita
- Mario Sabatino - TSRA Board Member
Bamaga Enterprise Pty Ltd
- Reg Williams - TSRA Board Member
Dirk Ernest Laifoo
- Romina Fujii - TSRA Board Member
Harry Nona
- Maluwap Nona and Romina Fuji - TSRA Board Members
Nicholas Charles Loban
- Yen Loban - TSRA Board Member
Karl David Takai
- Yen Loban - TSRA Board Member
Loban Marine
- Yen Loban - TSRA Board Member
Richard Takai
- Yen Loban - TSRA Board Member
Samuel Lewin
- Yen Loban - TSRA Board Member
| 2014 $ | 2013 $ | |
| Loans to directors outstanding at year-end | 22,740 | 10,563 |
| Loans to directors during the year | 40,000 | - |
| Loan repayments by directors during the year | 16,375 | 12,000 |
| Loans to director-related entities outstanding at year-end | 2,219,529 | 1,159,106 |
| Loans to director-related entities during the year | 268,684 | 421,234 |
| Loan repayments by director-related entities during the year | 396,028 | 265,576 |
| Interest revenue included in net cost of services from loans to directors/directorrelated entities | 114,192 | 76,003 |
| Related party loans written off | - | 5,369 |
The TSRA has adopted AASB 139 Financial Instruments - Recognition and Measurement , and treated loans outstanding at year end as Loans and Receivables valued at amortised cost using the effective interest rate method.
TORRES STRAIT REGIONAL AUTHORITY
Notes to and forming part of the financial statements for the period ended 30 June 2014
Note 13B: Related Party Disclosures
Other Transactions with Directors or Director-Related Entities
Grants were made to the following Director-related entities. They were approved under normal terms and conditions applying to the TSRA's grant programs. The Directors involved took no part in the relevant decisions of the TSRA and may not be a representative of the governing body of the entity receiving the grant.
| Directors'Name | Council | Grants Received | Grants Received |
| 2014 $ | 2013 $ |
||
| * | Northern Peninsula Area Regional Council | 60,500 | 476,850 |
| * | Torres Shire Council | 2,530,000 | 254,000 |
| * | Torres Strait Island Regional Council | 3,267,350 | 5,967,536 |
| A Noah | Andrew Passi | - | 5,000 |
| K Bedford | Australian Rural Leadership Foundation | 50,000 | - |
| M Nona | Badhulgaw Kuthinaw Mudh (Torres Strait Islanders) Corporation | 80,000 | - |
| M Nona & W Guivarra | Badhulgaw Kuthinaw Mudh (Torres Strait Islanders) Corporation | - | 25,000 |
| M Nona | Badu Art Centre | - | 124,000 |
| M Nona | Badu Island Foundation Ltd | 7,500 | - |
| M Nona & W Guivarra | Badu Island Foundation Ltd | - | 101,440 |
| R Williams | Bamaga Enterprises Limited | 8,000 | - |
| F Pearson | Buthu Lagau Saral (TSI) Corporation | 15,000 | - |
| F Pearson & P Mosby | Buthu Lagau Saral (TSI) Corporation | - | 45,000 |
| M Sabatino | Ceferino Sabatino | - | 10,000 |
| S Savage | Community Enterprises Australia Ltd | 1,665,366 | - |
| K Lui & S Savage | Community Enterprises Australia Ltd | - | 4,608,204 |
| S Maka | Dauanalgaw | - | 10,000 |
| K Lui | Denis Allan Newie | 6,500 | - |
| K Fell | Department of Transport and Main Roads | 5 00,000 | - |
| S Savage | DFK Kidsons - Grant Controller for kaurareg Native Title Aboriginal Corporation | 117,100 | - |
| M Sabatino | Edwin Turner | - | 10,500 |
| K Bedford | Erub Erwer Meta (TSI) Corporation | 92,000 | 60,000 |
| K Bedford | Erub FisheriesManagement Association | - | 9,460 |
| K Bedford | Erubam Le Traditional Land and Sea Owners Corporation (RNTBC) | 12,000 | - |
| F Pearson | Fred David | 8,350 | 5,000 |
| K Bedford | George Kapua Gutchen | 10,000 | - |
| G Lui (Jnr) & W Makie | Iama Mura Mabaigal (Torres Strait Islanders) Corporation | - | 15,000 |
| H Mosby | Kailag Enterprises | 8,373 | - |
| S Savage | Kaurareg Native Title Aboriginal Corporation | 28,800 | - |
| K Lui | Kaziw Asesered Le Association | 30,000 | 21,615 |
| J Stephen & F Bero | Kos and Abob Fisheries (Torres Strait Islanders) Corporation | - | 30,000 |
| H Mosby, J Mosby, W Makie, P Mosby & W Lui | Kulkalgal (central Islands) Development Association Inc | - | 12,712 |
| F Pearson | Kulkalgal Torres Strait Islander Corporation | 10,000 | - |
| R Fujii | Lena Passi Womens Cntre | 15,000 | - |
| E Peter | Malau Ki'ai (TSI) Corporation | 8,400 | - |
| H Mosby | Masigalagal (TSI) Corporation RNTBC | 11,500 | - |
| A Noah | Mer Gedkem Le (TSI) Corporation | 30,100 | - |
| A Noah & R Day | Mer Gedkem Le (TSI) Corporation | - | 39,000 |
| M Nona & W Guivarra | Mura Badulgal (Torres Strait Islanders) Corporation Registered Native Title Body Corporate | - | 14,000 |
| R Fujii | Mura Kosker Sorority Inc | 524,000 | - |
| R Fujii & N Pearson | Mura Kosker Sorority Inc | - | 697,000 |
| S Savage & D Bosun | Ngalmun Lagau Minaral TSI Corporation | - | 50,000 |
| R Fujii | Port Kennedy Association | 606,000 | 790,500 |
| F Pearson | Porumalgal (TSI) Corporation RNTBC | 2,500 | 14,000 |
| J Abednego | Relationships Australia Queensland | - | 98,000 |
| C Aniba | Saibai Community Development (TSI) Corp | 10,000 | - |
| C Aniba & R Enosa | Saibai Community Development (TSI) Corp | - | 7,700 |
| J Elu | Seisia Community (TSI) Corporation | - | 39,000 |
| W Lui | Tony Harry | - | 5,000 |
| C Aniba, A Noah & J Abednego | Torres Strait Islanders Media Association | 798,780 | - |
| J Abednego & A Noah | Torres Strait Islanders Media Association | - | 1,347,636 |
| K Fell | Torres Strait Major Infrastructure and Other projects Trust | 13,817,413 | - |
| K Fell | Torres Strait Youth and Recreation Sporting Association Inc | 325,000 | - |
| K Fell & W Guivarra | Torres Strait Youth and Recreation Sporting Association Inc | - | 1,183,000 |
| K Lui | Wug Danalaig Incorporated | 25,000 | - |
| K Lui & JT Kris | Wug Danalaig Incorporated | - | 30,000 |
*Please refer to Note 13A for information regarding Director relationships with these entities.