annual report/2006 - University of Melbourne

Notes to and forming part of the Financial Statements
Note 31(a) Reserves (Continued)
CONSOLIDATED
UNIVERSITY
2006 2005 2006 2005
$’000 $’000 $’000 $’000
Works of Art Asset Revaluation Reserve
Balance Beginning of Year 45,077 45,077 43,570 43,570
Changes due to Revaluation 10,310 - 9,603 -
Balance End of Year 55,387 45,077 53,173 43,570
Available-for-Sale Revaluation Reserve
Balance Beginning of Year 355,691 257,987 346,627 246,465
Transfer from/(to) Retained Surplus (4) (1,206) - -
Transfer from/(to) Trust Funds (166) (507) (166) (507)
Transfers to Profit and Loss on Sale (512) - - -
Changes due to Revaluation of Investments 119,155 99,417 114,482 100,669
Balance End of Year 474,164 355,691 460,943 346,627
Special Purpose Reserve
Balance Beginning of Year 22,396 20,694 12,630 11,941
Transfer from/(to) Land Asset Revaluation Reserve - 590 - 590
Transfer from/(to) Retained Surplus 1,054 1,112 105 99
Balance End of Year 23,450 22,396 12,735 12,630
Members Capital Reserve
Balance Beginning of Year 30,130 30,130 - -
Balance End of Year 30,130 30,130 - -
Foreign Currency Translation Reserve
Balance Beginning of Year 58 188 - -
Movement for Year 106 (131) - -
Balance End of Year 164 58 - -
Summary of Transfers
(excluding Members Capital Reserve)
Land Asset Revaluation Reserve - (590) - (590)
Other Collections Asset Revaluation Reserve (218,166) - (218,166) -
Available-for-Sale Revaluation Reserve (170) (1,713) (166) (507)
Trust Fund Reserve 15,679 17,824 15,679 17,825
Special Purpose Reserve 1,054 1,703 105 689
General Reserve 145 35 4 -
(201,458) 17,259 (202,544) 17,417
Note 31(b) Retained Surplus
Balance at Beginning of Year 742,867 683,136 649,550 590,873
Operating Result from Continuing Operations
after related Income Tax Expense 90,007 76,990 84,431 76,095
Transfers from/(to) Reserves 201,458 (17,259) 202,544 (17,417)
Balance at End of Year 1,034,332 742,867 936,525 649,550
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The University of Melbourne Annual Report 2006