2011/12 MCG Trust Annual Report - Melbourne Cricket Ground

NOTES TO FINANCIAL STATEMENTS
(CONTINUED)
31 MARCH 2012
NOTES TO FINANCIAL STATEMENTS
(CONTINUED)
31 MARCH 2012 Notes 2012
$’000
2011
$’000
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d)
(m) Expense payments
Payments to third parties are recognised as an expense in the reporting period in which they are paid or payable. They include
transactions such as the contribution to the Club for repayment of Great Southern Stand and Northern Stand Re-development debt.
(n) Employee leave benefits
The Trust employed nil employees during the year (2011: nil employees). No employee leave benefits are owed at balance date
(2011: nil benefits owed).
(o) Rounding
The amounts contained in this report and in the financial report have been rounded off to the nearest $1,000 where rounding
is applicable (or in certain cases to the nearest dollar), under the option available to the Trust under Standing Direction 4.2(d).
The Trust is an entity to which the Standing Direction applies.
3. REVENUES
Lease rental from the Club 16 4,036 3,899
Total revenues from operating activities 4,036 3,899
Other revenues
Interest revenue 65 62
State Government of Victoria contribution – Yarra Park landscape
upgrade
2,000 -
Total other revenues 2,065 62
Total revenues 6,101 3,961
4. EXPENSES
Operating expenses 129 111
5. TRADE AND OTHER RECEIVABLES
GST receivable 97 92
Other receivables - 1
97 93
Melbourne Cricket Ground Trust
Melbourne Cricket Ground Trust
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