ANNUAL REPORT 2007-2008 CITY OF GREATER GEELONG

ANNUAL FINANCIAL REPORT CONTENTS
FINANCIAL REPORT Note Page
Financial Statements
Income Statement 139
Balance Sheet 140
Statement of Changes in Equity 141
Cash Flow Statement 142
Notes to Financial Statements
Introduction 143
Significant Accounting Policies 1 143
Rates and Charges 2 148
Fees and Charges 3 149
Grants 4 150
Capital Income 5 151
Employee Benefits 6 152
Materials and Services 7 152
Provisions Expense 8 152
Bad and Doubtful Debts 9 152
Depreciation and other Write Downs 10 153
Gain / (Loss) on Disposal of Assets 11 153
Previously Unrecognised Assets 12 153
Investments in Associates 13 154
Contributions - Non Monetary Assets 14 155
Net Asset Revaluation Increment 15 155
Cash and Cash Equivalents 16 156
Trade and Other Receivables 17 156
Financial Assets 18 156
Note
Page
Other Assets 19 157
Inventories 20 157
Property, Infrastructure, Plant and Equipment 21 157
Trade and Other Payables 22 164
Refundable Deposits 23 164
Employee Benefits 24 164
Interest Bearing Loans and Borrowings 25 166
Landfill Provision 26 166
Other Liabilities 27 166
Reserves 28 167
Reconciliation of Cash Flows from Operating
Activities to Surplus (Deficit) 29 169
Reconciliation of Cash and Cash Equivalents 30 169
Financing Arrangements 31 169
Superannuation 32 170
Commitments 33 172
Operating Leases 34 173
Contingent Liabilities and Contingent Assets 35 174
Financial Instruments 36 175
Events Occurring after Balance Date 37 180
Related Party Transactions 38 180
Revenue, expenses and assets by functions/activities 39 182
Financial Ratios (Performance indicators) 40 184
Capital Expenditure 41 186
Pending Accounting Standards 42 187
Auditors Remuneration 43 187
Certification of the Financial Report 188
138