Disability Services Commission Annual Report

4.1 Financial Statements
24. Other liabilities 2008
$‘000
2007
$‘000
Current
Income received in advance 9,810 -
Total Current 9,810 -
25. Equity
Equity represents the residual interest in the net assets of the Commission. The Government holds the equity interest in the
Commission on behalf of the community. The asset revaluation reserve represents that portion of equity resulting from the
revaluation of non-current assets.
Contributed equity
Balance at start of year 8,909 15,883
Contributions by owners
Capital contribution (a) 7,441 811
Total contributions by owners 16,350 16,694
Distributions to owners
Transfer of net assets to other agencies - (7,785)
Total distributions to owners - (7,785)
Balance at end of year 16,350 8,909
(a) Capital Contributions (appropriations) and non-discretionary (non-reciprocal) transfers of net assets from other State
government agencies have been designated as contributions by owners in Treasurer’s Instruction TI 955 ‘Contributions by
Owners Made to Wholly Owned Public Sector Entities’ and are credited directly to equity.
Reserves
Asset revaluation reserve:
Balance at start of year 55,060 44,851
Net revaluation increments/(decrements):
Land and Buildings 6,816 10,209
Balance at end of year 61,876 55,060
Accumulated surplus/(deficit) (Retained Earnings)
Balance at start of year (28,990) (29,874)
Adjustment for change in accounting policy - (1,376)
Result for the period 3,021 2,260
Balance at end of year (25,969) (28,990)
26. Notes to the Cash Flow Statement
(a) Reconciliation of cash
Cash at the end of the financial year as shown in the Cash Flow Statement is reconciled to the related items
in the Balance Sheet as follows:
Cash and cash equivalents 2,792 1,974
Restricted cash and cash equivalents ( refer to note 15) 13,100 1,427
15,892 3,401
72 Disability Services Commission Annual Report 2007–2008