Portland District Health Annual Report 2007 - South West Alliance of ...

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Portland District Health Notes to and forming part of the Financial Statements for the year ended 30 June 2007 NOTE 18: LEASED ASSETS Total Total 2007 2006 $’000 $’000 Cost Finance Leased Assets - Plant & Equipment - 6 less Accumulated Amortisation - (6) Total Written Down Value - - Reconciliation of the carrying amounts of Leased Assets at the beginning and end of the current and previous financial year are set out below Leased Assets Leased Assets $’000 $’000 Carrying amount at start of year - 4 Amortisation Expense - (4) Carrying amount at end of year - - NOTE 19: RECONCILIATION OF NET RESULT FOR THE YEAR TO NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES 2007 2006 $’000 $’000 Net Result for the Year (509) (1,465) Depreciation 1,369 1,590 Long Service Leave Expense 211 267 Long Service Leave Paid (213) (221) Net Gain on Sale of Plant & Equipment (23) 3 Changes in Operating Assets and Liabilities: Increase/(Decrease) in Payables 1,361 167 Increase/(Decrease) in Employee Benefits 277 228 Increase/(Decrease) in Other Current Liabilities (263) (97) (Increase)/Decrease in Prepayments - 11 (Increase)/Decrease in Stores (17) 3 (Increase)/Decrease in Receivables 259 46 (Increase)/Decrease in Other Current Assets 179 (113) Net Cash Flows From Operating Activities 2,631 419 66 PORTLAND DISTRICT HEALTH • ANNUAL REPORT 06/07
Portland District Health Notes to and forming part of the Financial Statements for the year ended 30 June 2007 NOTE 20: LEASE LIABILITIES Aggregate Lease Expenditure contracted for at Balance Date. 2007 2006 Operating Lease $’000 $’000 Not later than one year 63 55 Later than 1 but not later than five years 48 28 Total 111 83 NOTE 21: CONTINGENT LIABILITIES/ASSETS As at balance date the Board of Management is unaware of the existence of any contingent liabilities/assets that may have a material effect on the Operating Statement as a result of any future event which may or may not happen. NOTE 22: SUPERANNUATION Superannuation contributions for the reporting period are included as part of employee benefits and on costs in the Operating Statement of the Hospital. The name and details of the major employee superannuation fund and contributions made by the Hospital are as follows: Contribution for the year 2007 2006 $000 $000 Health Super Fund 1,522 1,497 Total 1,522 1,497 The bases for contributions are determined by the various schemes. The unfunded superannuation liability in respect to members of State Superannuation Schemes and Health Super Scheme is not recognised in the Balance Sheet. Portland District Health’s total unfunded superannuation liability in relation to these funds has been assumed by and is reflected in the financial statements of the Department of Treasury and Finance. The above amounts were measured as at 30 June of each year, or in the case of employer contributions they relate to the years ended 30 June. All employees of the agency are entitled to benefits on retirement, disability or death from the Government Employees Super Fund. This fund provides defined lump sum benefits based on years of service and annual average salary. In accordance with the Directions of the Minister for Finance under the Financial Management Act 1994, contributed income sector bodies are required to make certain disclosures regarding superannuation. Accordingly the following items are disclosed; (i) Name of the Fund - Health Super Fund (ii) Total contributions made by the Hospital to the schemes during 2006-07 were $1,522,155 (iii) As at balance date there were no outstanding contributions in respect of the 2006-07 financial year; (iv) Contributions are paid in accordance with the Hospitals Superannuation Act 1988 and the State Superannuation Act 1988; (v) There were no loans made from the Hospitals Superannuation Fund to the Hospital. NOTE 23: REMUNERATION OF AUDITORS Audit fees paid to the Victorian Auditor-General’s Office for audit of the Hospitals financial report Total Total 2006-07 2005-06 $’000 $’000 Paid as at 30 June 2007 2 2 Payable as at 30 June 2007 9 9 PORTLAND DISTRICT HEALTH • ANNUAL REPORT 06/07 67
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Portland District Health President
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The hospital and health service has
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Portland District Health Board Comm
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MRS. MERLYN MENZEL BOARD MEMBER Div
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Portland District Health Organisati
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Portland District Health Service Ac
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Portland District Health 2006/07 Ye
Page 19 and 20: Simple, effective and inexpensive m
Page 21 and 22: ALEX TRAHAR Electrician 18 months a
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Page 25 and 26: We continue to provide student plac
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Page 33 and 34: The Occupational Therapy department
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Page 45 and 46: Portland District Health FINANCIAL
Page 47 and 48: Portland District Health Balance Sh
Page 49 and 50: Portland District Health Cash Flow
Page 51 and 52: Portland District Health Notes to a
Page 69: Portland District Health Notes to a
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Portland District Health Annual Report 2007 - South West Alliance of ...

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