Complete annual report 2010-11 - Land - NSW Government

State Property Authority
Notes to and Forming Part of the Financial Statements
For the Year Ended 30 June 2011
(d) Net Gain/(Loss) on Revised Estimate of Land 2011 2010
Remediation Liability $'000 $'000
Net Loss on Revised Estimate of Liability Remaining on
Property, Plant and Equipment (Note 11(b)) - (2,201)
Net Gain/(Loss) on Revised Estimate - (2,201)
(e) Net Gain/(Loss) on Residual Value Reassessments 2011 2010
of Finance Lease Receivables $'000 $'000
Gain of Reassessment 1,355 0
Loss on Reassessment - (221)
Net Gain/(Loss) on Reassessment 1,355 (221)
5. CASH AND CASH EQUIVALENTS 2011 2010
$'000 $'000
(a) Reconciliation of Cash and Cash Equivalents
Cash at Bank 124,438 124,738
Restricted Cash - which remains part of cash and cash
equivalents in the Statement of Financial Position (i) 6,700 6,337
131,138 131,075
Represented in the Statement of Financial Position as:
Current Assets - Cash and Other Cash Equivalents 131,138 131,075
(i) Included in the cash balance is $92.376 million ($99.930m in 2009-10) set aside for remediation on land acquired by the
Crown from BHP Billiton in 2002. Of the amount held at 30 June 2010, $3.496 million was held "on trust" on behalf of
the Newcastle City Council and the University of Newcastle in relation to the funding proposal for the implementation of
the Revised Heritage Interpretation Strategy. This amount was paid out in full during 2010-11 (Note 10).
At 30 June 2011, $6.700 million ($2.841m in 2009-10) was also held "on trust" for cash received in advance from other
government agencies for property acquisitions in progress, negotiations for which were being undertaken by the
Authority under formal agreement with those agencies (Note 10).
For the purposes of the Statement of Cash Flows, cash includes cash on hand, cash at bank and "restricted cash".
(b) Reconciliation of Net Cash Provided by Operating 2011 2010
Activities to Operating Result $'000 $'000
Net Surplus/(Deficit) for the Year 43,358 (3,545)
Non Cash Expenses/(Revenues):
Emerging Asset Increment/(Decrement) (Note 2(f)) (400) 3,000
Depreciation and Amortisation (Note 3(e)) 27,045 25,313
Loss on Disposal of Non-Current Assets (Note 4(a)) (446) (148)
Other Losses/(Gains) on Revaluation of
Non-Current Assets (Notes 4(b) to 4(c)) (1,042) 13,467
Changes in Operating Assets and Liabilities:
Decrease/(Increase) in Receivables (62,086) (49,679)
Increase/(Decrease) in Payables 337 (7,596)
Increase/(Decrease) in Provisions 45,752 55,479
Increase/(Decrease) in Other Operating Liabilities 10,532 (1,408)
Net Cash Flow From Operating Activities 63,050 34,883
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State Property Authority