2010-11 Annual Report - Taranaki District Health Board
2010-11 Annual Report - Taranaki District Health Board
2010-11 Annual Report - Taranaki District Health Board
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page 79<br />
Notes to the Financial Statements<br />
For the Year Ended 30 June 20<strong>11</strong><br />
30 TERMINATION PAYMENTS<br />
For the period to 30 June 20<strong>11</strong>, 5 employees or former employees of <strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong> received payment in respect of termination of<br />
employment totalling $51,949 (<strong>2010</strong>: 8 payments totalling $77,683).<br />
31 CAPITAL MANAGEMENT<br />
<strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong>'s capital is its Crown equity, reserves, Trust/Special funds and retained earnings/(losses). Equity is represented by net<br />
assets. <strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong> manages its revenues, expenses, assets, liabilities and general financial dealings prudently in compliance with the<br />
budgetary process.<br />
The <strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong>'s policy and objectives of managing the equity is to ensure the <strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong> effectively achieves its<br />
goals and objectives, whilst maintaining a strong capital base. The <strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong> policies in respect of capital management are reviewed<br />
regularly by the governing <strong>Board</strong>.<br />
Changes in public equity are as a result of the Crown either (I) injecting equity for specific funding, or (ii) requiring <strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong> to<br />
repay equity as specified by the Crown.<br />
During the year the Crown advanced $1,514k (<strong>2010</strong>: $2,328k) for (i) Community Oral <strong>Health</strong> Service of $786k (<strong>2010</strong>: $2,066k), (ii) for the interRAI<br />
National DHB Implementation Project of $166k (<strong>2010</strong>: $262k), and (iii) Medicines Reconciliation $561k (<strong>2010</strong>: $0k). Public equity of $959k (<strong>2010</strong>:<br />
$959k) was repaid to the Crown during the year. The repayments in both 20<strong>11</strong> & <strong>2010</strong> was to repay the Ministry of <strong>Health</strong> funding of additional<br />
depreciation expense on buildings revalued at 30 June 2006.<br />
There have been no changes in <strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong>'s management of capital during the year.<br />
<strong>Taranaki</strong> <strong>District</strong> <strong>Health</strong> <strong>Board</strong> is not subject to external banking covenants.<br />
32 EVENTS SUBSEQUENT TO BALANCE DATE<br />
Aside from the renewal of the loan facilities as described in Note 17, there were no material movements or events subsequent to the balance date.
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