ARTA Annual Report 2009 - Auckland Transport

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Standards, amendments and interpretations issued that are not yet effective and have not been early adopted NZ IAS1 (International Accounting Standard) Presentation of Financial Statements (revised 2007) replaces NZ IAS 1 Presentation of Financial Statements (issued 2004) and is effective for reporting periods beginning on or after 1 January 2009. The revised NZ IAS1 requires an entity to present all owner changes in equity separate from non-owner changes in equity in a Statement of Changes in Equity. All non-owner changes in equity (i.e. comprehensive income) are required to be presented in one Statement of Comprehensive Income or in two statements (an Income Statement and a Statement of Comprehensive Income). Components of comprehensive income are not permitted to be presented in the Statement of Changes in Equity. ARTA intends to adopt this standard for the year ending 30 June 2010, and will prepare two statements (an Income Statement and a separate Statement of Comprehensive Income). This is not expected to have a material effect on ARTA. NZ IAS23 Borrowing Costs (revised 2007) replaces NZ IAS23 Borrowing Costs (issued 2004) and is effective for reporting periods beginning on or after 1 January 2009. The revised standard requires an entity to capitalise borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset (one that takes a substantial period of time to get ready for use or sale) as part of the cost of the asset. The option of immediately expensing these borrowing costs has been removed. ARTA intends to adopt this standard for the year ending 30 June 2010. It is not expected to have a material impact on ARTA as ARTA’s rules prevent it from borrowing without the written permission of the ARC. NZ IFRS8 Operating Segments is effective for annual reporting periods beginning on or after 1 July 2009. NZ IFRS8 makes compliance with the standard mandatory for non-qualifying profit-oriented entities and changes how operating segments are defined and their results disclosed in notes to the financial statements. ARTA intends to take up the exemption offered to public benefit entities not to apply this standard. Measurement Base The financial statements have been prepared on an historical cost basis, modified by the revaluation of certain assets and liabilities as identified in specific policies below. The financial statements are presented in New Zealand dollars. 82
Revenue Recognition Revenue is measured at the fair value of consideration received or receivable. ARTA receives revenue from three main sources: • funding from the Auckland Regional Council (ARC); • subsidies from the New Zealand Transport Agency (NZTA); • fare box recovery from public transport users. Auckland Regional Council Funding ARTA is funded by its parent, the ARC, in order to deliver the agreed annual operational and capital programmes. This funding is recognised as income when the expenditure it covers is incurred, i.e. on an accrual basis. The ARC requires ARTA to report quarterly to the council finance committee on financial and non-financial performance and to comply with ARC group policies on expenditure. New Zealand Transport Agency Grants ARTA receives government grants from NZTA, which funds administration, operational and capital expenditure. Grants distributions from NZTA are recognised as income when the expenditure they cover is incurred, i.e. on an accrual basis. Sometimes there are conditions attached to grants provided. NZTA performs a biannual audit on ARTA’s processes and if they find an anomaly then ARTA is obliged to pay the relevant funds back. Fare Income ARTA receives fare box revenue from certain bus and ferry and all rail services. This revenue is recognised when the ticket is purchased. Grant Expenditure Non-discretionary grants are those grants that are awarded if the grant application meets the specified criteria and are recognised as expenditure when an application that meets the specified criteria for the grant has been received. Discretionary grants are those grants where ARTA has no obligation to award on receipt of the grant application and are recognised as expenditure when a successful applicant has been notified of ARTA’s decision. 83
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THE JOURNEY Auckland Regional Trans
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2010 New stations due to open at Ne
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TABLE OF CONTENTS SUCCESS STORIES..
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SUCCESS STORIES ARTA is Auckland’
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FERRY tripS Pine Harbour and West H
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Total mobility Providing Aucklander
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ARTA is training for the Rugby Worl
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ARTA is focused on delivering an in
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The historic Downtown Ferry Termina
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OUR VALUES - The principles that de
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CONTINUOUS IMPROVEMENT TO SERVICES
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Service to the airport expanded In
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Reliable services drive growth ARTA
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“ARTA’s goal is to get at least
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Developing Auckland’s transport i
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Case study: PROGRESS ON FERRIES The
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Revitalising Newmarket train statio
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The Northern Busway: A North Star b
Page 37 and 38: “The projected cost of upgrading
Page 40 and 41: how customers give feedback on thei
Page 42 and 43: • Visits to the maxx.co.nz intera
Page 44 and 45: • The installation of 150 ‘Type
Page 46 and 47: • Veolia and ARTA are conducting
Page 48 and 49: 42 Waitakere Primary School: Jessic
Page 50 and 51: Travelwise TravelWise is a partners
Page 52 and 53: TravelWise - Tertiary students get
Page 54 and 55: Case study: Auckland Airport Travel
Page 56 and 57: Cycle maps and seasonal campaigns D
Page 58 and 59: Finding out what stakeholders think
Page 60 and 61: 100 million PT boardings per annum
Page 62 and 63: 56 The popular Airbus Express at Au
Page 64 and 65: 1.1 Patronage targets Outcome Perfo
Page 66 and 67: 1.2 Transport outcome measures cont
Page 68 and 69: Key projects for 2008/09 The follow
Page 70 and 71: Ferry Programme of Action Improveme
Page 72 and 73: ARTA’S PROFILE ARTA was establish
Page 74 and 75: • developing travel plans to enco
Page 76 and 77: Board Profiles Rabin Rabindran BOAR
Page 78 and 79: Tony Marks Tony Marks is a director
Page 80 and 81: Working at ARTA Attracting and reta
Page 82 and 83: Case study - Special Events PLANNIN
Page 84 and 85: Health and safety record ARTA holds
Page 86 and 87: STATEMENT OF COMPLIANCE AND RESPONS
Page 90 and 91: Public Equity Equity is the shareho
Page 92 and 93: ARTA documents at the inception of
Page 94 and 95: Items of property, plant and equipm
Page 96 and 97: ii) Operating leases - Land The ope
Page 98 and 99: Leases Finance Leases A finance lea
Page 100 and 101: Provisions Provisions are recognise
Page 102 and 103: Statement Of Changes in Equity For
Page 104 and 105: Statement Of Cash Flows For the yea
Page 106 and 107: NOTES TO THE FINANCIAL STATEMENTS 1
Page 108 and 109: 3 Public Equity 2009 2009 2008 2008
Page 110 and 111: Past Due But Not Impaired - Trade A
Page 112 and 113: Accumulated depreciation & Carrying
Page 114 and 115: 8 Intangible Assets Accumulated amo
Page 116 and 117: TRANSPORT GRANTS PAYABLE Fair value
Page 118 and 119: The instruments Fund Managers may u
Page 120 and 121: The table below analyses ARTA’s f
Page 122 and 123: 15 Related Party Transactions ARTA
Page 124 and 125: Details of net assets acquired and
Page 126 and 127: 21 Capital Management ARTA’s capi
Page 128 and 129: Material misstatements are differen
Page 130 and 131: GLOSSARY AMETI Auckland-Manukau Eas
Page 132: 126 Sandringham Road, New North Roa
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ARTA Annual Report 2009 - Auckland Transport

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