2011/12 MCG Trust Annual Report - Melbourne Cricket Ground

NOTES TO FINANCIAL STATEMENTS
(CONTINUED)
NOTES TO FINANCIAL STATEMENTS
(CONTINUED)
31 MARCH 2012 Notes 2012
$’000
2011
$’000
31 MARCH 2012 Notes 2012
$’000
2011
$’000
9. RESERVES AND ACCUMULATED FUNDS
Asset revaluation 9 (a) 107,919 61,512
Special purpose – NSM 9 (b) 48 48
107,967 61,560
Accumulated funds 9 (c) 69,957 69,870
(a)
Asset revaluation
(i) Nature and purpose of reserve
The asset revaluation reserve is used to record increments and
decrements in the value of non-current assets.
(ii) Movements in reserve
Balance at beginning of year 61,512 61,512
Revaluation increments / (decrements) on revaluation of:
- Crown land - MCG 12,417 -
- Crown land – Yarra Park 34,380 -
- AGOS-OM Collection (390) -
Balance at end of year 107,919 61,512
(b) Special purpose – NSM
(i) Nature and purpose of reserve
The NSM reserve records donations provided to the Trust for the
purchase of sporting memorabilia.
(ii) Movements in reserve
Balance at beginning of year 48 48
Transfers from / (to) other equity accounts:
- Accumulated funds - -
Balance at end of year 48 48
10. CASH FLOW INFORMATION
(a) Reconciliation of net result to the net cash flows from operations
Net result 87 100
Changes in assets and liabilities
(Increase)/decrease in trade & other receivables (4) 20
Increase/(decrease) in trade & other payables (11) 17
Net cash flow from/(used in) operating activities 72 137
(b) Reconciliation of cash
Cash and cash equivalents comprises:
- cash at bank 155 114
- short term deposits 930 899
Cash and cash equivalents at end of year 1,085 1,013
Cash at bank earns interest at floating rates based on daily bank
deposit rates.
Short-term deposits are at call and earn interest at the respective
short-term deposit rates.
Melbourne Cricket Ground Trust
(c) Accumulated funds
Balance at beginning of year 69,870 69,770
Net result for the year 87 100
Transfers from / (to) other equity accounts:
- Asset revaluation reserve
- Special purpose – NSM
-
-
-
-
Balance at end of year 69,957 69,870
Melbourne Cricket Ground Trust
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