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Financials - Sydney Metropolitan Development Authority Notes to the Financial Statements for year ending 30 June 2012 (k) Valuation method and principal actuarial assumptions at the balance sheet date {AASB 119 – paragraph 120A(n)} (i) Valuation Method The Projected Unit Credit (PUC) valuation method was used to determine the present value of the defined benefit obligations and the related current service costs. This method sees each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. (ii) Economic Assumptions 30-Jun-12 30-Jun-11 Salary increase rate (excluding promotional increases) 2.5% pa 3.5% pa Rate of CPI Increase 2.5% pa 2.5% pa Expected rate of return on assets 8.60% 8.60% Discount rate 3.06% pa 5.28% pa (iii) Demographic Assumptions The demographic assumptions at 30 June 2012 are those that were used in the 2009 triennial actuarial valuation plus an additional allowance for staff reductions consistent with the Labour Expense Cap advised in the 2012-13 Budget. The triennial review report is available from the <strong>NSW</strong> Treasury website. (l) Historical information {AASB119 – paragraph 120A(p)} NB. AASB 119 requires an entity to disclose this information for the current and previous four annual reporting periods. SASS SANCS SSS TOTAL 30-Jun-12 30-Jun-12 30-Jun-12 30-Jun-12 $’000 $’000 $’000 $’000 Present value of defined benefit obligation 93 170 -- 263 Fair value of Fund assets (30) (38) -- (68) (Surplus)/Deficit in Fund 63 133 -- 196 Experience adjustments – Fund liabilities (2) 11 -- 9 Experience adjustments – Fund assets (2) 3 -- 1 SASS SANCS SSS TOTAL 30-Jun-11 30-Jun-11 30-Jun-11 30-Jun-11 $’000 $’000 $’000 $’000 Present value of defined benefit obligation 83 146 -- 229 Fair value of Fund assets (24) (35) -- (59) (Surplus)/Deficit in Fund 59 111 -- 170 Experience adjustments – Fund liabilities (18) 4 -- (14) Experience adjustments – Fund assets 68 6 -- 74 46 SYDNEY METROPOLITAN DEVELOPMENT AUTHORITY
SASS SANCS SSS TOTAL 30-Jun-10 30-Jun-10 30-Jun-10 30-Jun-10 $’000 $’000 $’000 $’000 Present value of defined benefit obligation 293 248 -- 541 Fair value of Fund assets (238) (146) -- (384) (Surplus)/Deficit in Fund 54 101 -- 155 Experience adjustments – Fund liabilities 62 18 -- 80 Experience adjustments – Fund assets (51) 4 -- (47) SASS SANCS SSS TOTAL 30-Jun-09 30-Jun-09 30-Jun-09 30-Jun-09 $’000 $’000 $’000 $’000 Present value of defined benefit obligation 64 110 -- 174 Fair value of Fund assets (26) (31) -- (57) (Surplus)/Deficit in Fund 38 79 -- 117 Experience adjustments – Fund liabilities (79) 30 -- (49) Experience adjustments – Fund assets 231 22 -- 253 SASS SANCS SSS TOTAL 30-Jun-08 30-Jun-08 30-Jun-08 30-Jun-08 $’000 $’000 $’000 $’000 Present value of defined benefit obligation 465 143 -- 608 Fair value of Fund assets (464) (114) -- (578) (Surplus)/Deficit in Fund 1 29 -- 30 Experience adjustments – Fund assets -- -- -- -- (m) Expected contributions {AASB119 – paragraph 120A(q)} Expected employer contributions to be paid in the next reporting period SASS SANCS SSS TOTAL 30-Jun-12 30-Jun-12 30-Jun-12 30-Jun-12 $’000 $’000 $’000 $’000 3 4 -- 7 Expected employer contributions to be paid in the next reporting period SASS SANCS SSS TOTAL 30-Jun-11 30-Jun-11 30-Jun-11 30-Jun-11 $’000 $’000 $’000 $’000 6 8 -- 2011-12 ANNUAL REPORT 47
Page 1 and 2: SYDNEY METROPOLITAN DEVELOPMENT AUT
Page 3 and 4: Contents 4 To the Minister 5 Statem
Page 5 and 6: Statement from the Chairperson and
Page 7 and 8: Board Members Dr Col Gellatly AO B
Page 9 and 10: Giovanni Cirillo BUrbRegPlan (Hons)
Page 11 and 12: Redfern-Waterloo Precinct Redfern W
Page 13 and 14: -- Ensure interpretive devices and
Page 15 and 16: Social Inclusion Socially Inclusive
Page 17 and 18: Statement by Members of the Board S
Page 19 and 20: 2011-12 ANNUAL REPORT 19
Page 21 and 22: Financials - Sydney Metropolitan De
Page 23 and 24: Financials - Sydney Metropolitan De
Page 25 and 26: (g) Accounting for the Goods and Se
Page 27 and 28: -- Buildings 40 years -- Leasehold
Page 29 and 30: Unused non-vesting sick leave does
Page 31 and 32: 2 Expenses Excluding Losses (a) Con
Page 33 and 34: Consolidated Consolidated SMDA SMDA
Page 37 and 38: 10 (b) Reconciliation of movements
Page 41 and 42: SASS SANCS SSS TOTAL 30-Jun-12 30-J
Page 43 and 44: (c) Reconciliation of the fair valu
Page 45: (f) Amounts recognised in other com
Page 49 and 50: 16 Increase in Net Assets from Equi
Page 53 and 54: (a) Financial instruments categorie
Page 55 and 56: (c ) Liquidity risk Liquidity risk
Page 57 and 58: Interest rate risk $’000 Consolid
Page 59 and 60: Consolidated Impact on profit/loss
Page 61 and 62: Internal Audit and Risk Management
Page 63 and 64: 2011-12 ANNUAL REPORT 63
Page 65 and 66: Financials - The Office of Sydney M
Page 73 and 74: 30 June 2012 30 June 2011 $’000 $
Page 75 and 76: SASS SANCS SSS TOTAL 30-Jun-11 30-J
Page 77 and 78: (c) Reconciliation of the fair valu
Page 79 and 80: (e) Expense recognised in income st
Page 81 and 82: (iii) Demographic Assumptions The d
Page 83 and 84: (d) Economic assumptions The econom
Page 85 and 86: Staff Numbers by Employment Basis a
Page 87 and 88: Payment of Accounts All agreed acco
Page 89 and 90: Table A: Number of applications by
Page 91 and 92: Index Aims & Objectives 6 Appendice

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