CQUniversity Annual Report - Central Queensland University

40
Central Queensland University
and Controlled Entities
Notes to the Financial Statements
for the year ended 31 December 2012
Consolidated
Parent Entity
Notes 2012 2011 2012 2011
$'000 $'000 $'000 $'000
Note 31. Reserves and retained surpluses
(a) Reserves
Property, plant and equipment revaluation reserve 78,452 75,171 78,451 75,171
Available for sale financial assets 5,990 2,402 5,923 2,704
Foreign currency translation reserve 34 - - -
Total reserves 84,476 77,573 84,374 77,875
Non-controlling interest (17) - - -
Total reserves attributable to parent entity 84,459 77,573 84,374 77,875
Movements:
Property, plant and equipment revaluation reserve
Balance 1 January 75,171 72,584 75,171 72,584
Revaluation increment/(decrement)
Buildings 1,718 1,583 1,718 1,583
Land 401 596 401 596
Infrastructure 71 61 71 61
Library heritage collection 1,167 - 1,167 -
Artwork (77) 347 (77) 347
Balance 31 December 78,451 75,171 78,451 75,171
Available for sale financial assets reserve
Balance 1 January 2,402 5,996 2,704 6,275
Fair value increment/(decrement) 3,588 (3,594) 3,219 (3,571)
Balance 31 December 5,990 2,402 5,923 2,704
Foreign currency translation reserve
Balance 1 January - - - -
Fair value increment/(decrement) 34 - - -
Balance 31 December 34 - - -
(b) Retained surplus
Movements in retained surplus were as follows:
Retained surplus at 1 January 207,196 210,474 202,527 205,469
Net operating result for the year (25,896) (3,278) (24,636) (2,942)
Retained surplus on acquisition of subsidiary (166) - - -
Retained surplus at 31 December 181,134 207,196 177,891 202,527
(c) Nature and purpose of reserves
The property, plant and equipment revaluation reserve includes the net revaluation increments and decrements arising from the
revaluation.
Available for sale financial assets reserve represents fair value movements in financial assets.
The share revaluation reserve includes the net revaluation increments and decrements arising from the revaluation.
The foreign currency translation reserve relates to the translation of the results and position of CQU Institute of Higher Learning Pte
Ltd whose functional and presentation currency is Singapore dollars into the group accounts which are presented in Australian
dollars.