2010-11 Annual Report - Taranaki District Health Board

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Notes to the Financial Statements For the Year Ended 30 June 2011 (r) Income Tax Taranaki District Health Board is a public authority under the New Zealand Public Health and Disability Act 2000 and is exempt from income tax under Section CB3 of the Income Tax Act 1994. (s) Goods and Services Tax (GST) The Financial Statements have been prepared exclusive of goods and services tax (GST) apart from receivables and payables which are stated inclusive of GST. Where GST is irrecoverable as an input tax then it is recognised as part of the related asset or expense. The net amount of GST recoverable from, or payable to, the Inland Revenue Department is included as part of receivables or payables in the balance sheet. The net GST paid to, or received from the IRD, including the GST relating to investing and financing activities, is classified as an operating cash flow in the statement of cash flows. Commitments and contingencies are disclosed exclusive of GST. (t) New standards adopted and interpretations not yet adopted (i) Changes in accounting policy and disclosures There have been no changes in accounting policies during the year. (ii) Standards, amendments, and interpretaions issued that are not yet effective and have not been early adopted NZ IFRS standards, amendments, and interpretations issued but not yet effective that have not been early adopted, and which are relevant to Taranaki District Health Board, are: NZ IFRS 9 Financial Instruments will eventually replace NZ IAS 39 Financial Instruments: Recognition and Measurement. NZ IAS 39 is being replaced through the following main phases: Phase 1 Classification and Measurement, Phase 2 Impairment Methodology, and Phase 3 Hedge Accounting. Phase 1 has been completed and has been published in the new financial instrument standard NZ IFRS 9. NZ IFRS 9 uses a single approach to determine whether a financial asset is measured at amortised cost or fair value, replacing the many different rules in NZ IAS 39. The approach in NZ IFRS 9 is based on how an entity manages its financial assets and the contractual cash flow characteristics of the financial assets. The financial liability requirements are the same as those of NZ IAS 39, except for when an entity elects to designate a financial liability at fair value through the surplus or deficit. The new standard is required to be adopted for the year ended 30 June 2014. Taranaki District Health Board has not yet assessed the effect of the new standard and expects it will not be early adopted. FRS-44 New Zealand Additional Disclosures and Amendments to NZ IFRS to harmonise with IFRS and Australian Accounting Standards (Harmonisation Amendments) - These were issued in May 2011 with the purpose of harmonising Australia and New Zealand's accounting standards with source IFRS and to eliminate many of the differences between the accounting standards in each jurisdiction. The amendments must first be adopted for the year ended 30 June 2012. Taranaki District Health Board has not yet assessed the effects of FRS-44 and the Harmonisation Amendments.
page 57 Notes to the Financial Statements For the Year Ended 30 June 2011 1 REVENUE Group Parent 2011 2010 2011 2010 $000 $000 $000 $000 Health and disability services (MoH contracted revenue) 295,015 286,705 294,954 286,611 ACC revenue 6,592 8,400 6,592 8,400 Inter District Patient Inflows 5,110 4,137 5,110 4,137 Interest received 2,087 1,870 2,080 1,866 Dividends received 2 1 2 1 Bad debts recovered 7 6 7 6 Other revenue 2,906 3,829 2,511 3,156 311,719 304,948 311,256 304,177 2 OTHER INCOME Group Parent 2011 2010 2011 2010 $000 $000 $000 $000 Donations and bequests received 25 831 25 831 Gain on sale of property, plant and equipment 36 4 36 4 61 835 61 835 3 EMPLOYEE BENEFIT COSTS Group Parent 2011 2010 2011 2010 $000 $000 $000 $000 Wages and salaries 100,788 98,660 97,512 96,014 Increase/(Decrease) in employee benefits provisions 1,006 1,203 981 914 101,794 99,863 98,493 96,928 4 OTHER EXPENSES Group Parent 2011 2010 2011 2010 $000 $000 $000 $000 Impairment of trade receivables (bad and doubtful debts) 70 51 70 51 Loss on sale of property, plant and equipment 3 206 3 206 Audit fees - Ernst & Young (for the audit of the annual financial statements) 216 205 189 181 Audit fees - Verification New Zealand Limited (ACC partnership plan) 1 3 1 3 Audit fees - Healthshare Limited (Pharmacy Quality Audits) 30 21 30 21 Board members fees 236 220 221 220 Operating lease expenses 766 807 296 341 1,322 1,513 810 1,023 5 CAPITAL CHARGE District Health Boards are required to pay a capital charge to the Crown based on the greater of its actual or budgeted closing equity at year end, less adjustments for donated assets. The capital charge rate for the period ended 30 June 2011 was 8% (2010: 8%).
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Annual Report 2010-11 Taranaki Dist
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Taranaki Together, a Healthy Commun
Page 5 and 6: page 5 John Young ONZM JP, sadly pa
Page 7 and 8: page 7 Mock Bedroom and Operating T
Page 9 and 10: page 9 MAIN ENTRANCE The new entran
Page 11 and 12: page 11 Target 90% Achieved 90% 4.I
Page 13 and 14: page 13 We have 104,280 Taranaki re
Page 15 and 16: page 15 $4.7m $2m $.9m Other Progra
Page 17 and 18: page 17 A dAY in tHE liFE of tARAna
Page 19 and 20: page 19 During the last year Hauora
Page 21 and 22: page 21 South Taranaki - Alive with
Page 23 and 24: page 23 Medicines Reconciliation Th
Page 25 and 26: page 25 Releasing Time to Care This
Page 27 and 28: page 27 Technology Connects Patient
Page 29 and 30: page 29 Workplace Profile At 30 Jun
Page 31 and 32: page 31 Governance Structure The go
Page 33 and 34: page 33 Ella BorrOWs Ella has had w
Page 35 and 36: page 35 Te WHARE PUNANGA KORERO Mā
Page 37 and 38: page 37 BOARD MEMBERS, COMMITTEE ME
Page 39 and 40: page 39 Audit Report INDEPENDENT AU
Page 41 and 42: page 41 Audit Report Responsibiliti
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Page 45 and 46: page 45 Statement of Comprehensive
Page 47 and 48: page 47 Statement of Changes in Equ
Page 49 and 50: page 49 Statement of Cash Flows For
Page 51 and 52: page 51 Notes to the Financial Stat
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Page 83 and 84: page 83 Statement of Service Perfor
Page 91: page 91 Reporting on “good employ
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2010-11 Annual Report - Taranaki District Health Board

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