Annual Report 2004-2005 - City of Vincent

More documents

Recommendations

Info

NOTES TO AND FORMING PARTS OF THE FINANCIAL STATEMENTS Notes to and forming parts of the Financial Statements for the year ended 30 June 2005 1. SIGNIFICANT ACCOUNTING POLICIES (CONT) (f) Investments All investments are made in accordance with the Trustees Act and are valued at cost with interest revenue recognised as accrued. (g) Leases The Council has no obligations under finance leases at balance date. In respect of operating leases, where the lessor effectively retains substantially the entire risks and benefits incidental to ownership of the leased items, lease payments are charged to expense over the lease term. (h) Rates, Grants, Donations and other Contributions The rating and reporting periods coincide. Control over assets acquired from rates is obtained at the commencement of the rating period or, where earlier, upon receipt of rates. Grants, donations and other contributions are recognised as revenues when the Council obtains control over the assets comprising the contributions. Control over granted assets is normally obtained upon their receipt or upon prior notification that a Grant has been secured, and the timing of commencement of control depends upon the arrangements that exist between the grantor and the Council. Contributions not received over which the Council has control are recognised as receivables. Where contributions recognised as revenues during the reporting period were obtained on the condition that they be expended in a particular manner or used over a particular period, and those conditions were undischarged at the reporting date, the nature of and amounts pertaining to those undischarged conditions are disclosed in Note 5. The note also discloses the amount of contributions recognised as revenues in a previous reporting period which were obtained in respect of the Council’s operations for the current reporting period. (i) Stock on Hand and Work in Progress Stock on hand and work in progress are valued at the lower of cost and net realisable value. (j) Interest in Regional Council The Council is participant with 6 other Councils, namely the cities of Joondalup, Wanneroo, Stirling, Perth and the Towns of Cambridge and Victoria Park. Information about the Mindarie Regional Council is set out in Note 20. (k) Payables Trade payables and other accounts payable are recognised when the Council becomes obliged to make future payments resulting from the purchase of goods and services. (l) Rounding All figures shown in the financial report have been rounded off to the nearest dollar and some minor variations between schedules may result. (m) Comparatives Comparative figures are, where appropriate, reclassified as to be comparable with the figures presented for the current financial year. (n) Goods and Services Tax In accordance with recommended practice, revenues, expenses and assets capitalised are stated net of any GST recoverable. Receivables and payables in the Statement of Financial Position are stated inclusive of applicable GST. 82 TOWN OF VINCENT _ A NNUAL R EPORT 2004-2005
NOTES TO AND FORMING PARTS OF THE FINANCIAL STATEMENTS Notes to and forming parts of the Financial Statements for the year ended 30 June 2005 2. CHANGES IN ACCOUNTING POLICY There were no changes in accounting policy. 3. COMPONENT FUNCTIONS/ACTIVITIES In order to discharge its responsibilities to the community, the Council has developed a set of operational and financial objectives. These objectives have been established both on an overall basis reflected by the Council’s Mission and Vision Statement and for each of its broad activities/programmes. These objectives provide a framework for the future direction of the Town of Vincent. Council Mission Statement “Nurturing our diverse Community” Council Vision Statement Our Vision is for Vincent to continue to be a vibrant, multicultural community. Our community will have a strong sense of belonging and will relate to Vincent as a special place, which has its own distinctive identity. We will be a safe urban village, rich in history and heritage. Trees, gardens and parks will create an environment which is leafy and green. Our buildings will achieve a successful blending of old and new. Our dwellings, businesses, restaurants, cafés, entertainment areas, and sporting and recreational facilities will give Vincent its own style and character. We will create a prosperous and dynamic business environment. Festivals and events will bring the community together and celebrate our history, heritage and culture. Vincent will be a place of opportunity for all people, no matter what their needs or abilities. The Council and staff will reflect the diversity, informality and passion of Vincent’s people. Working together, Council and community will create the future we want. The Operating Statements are presented in a programme format using the following classifications: GOVERNANCE This schedule details costs and revenues associated with Governance of the Town. These include Members of Council and other costs involved in supporting members and governing the Town. GENERAL PURPOSE FUNDING This schedule records detail of rate revenue and general purpose grants allocated by the WA Local Government Grants Commission as well as expenditures associated with this (rates collection, investment of funds). LAW, ORDER AND PUBLIC SAFETY This programme covers costs associated with Animal Control, Fire Prevention and other Law and Order services generally associated with Local Law control. TOWN OF VINCENT _ A NNUAL R EPORT 2004-2005 83
Page 1 and 2:
Annual Report 2004-2005 Enhancing a
Page 3 and 4:
C ONTENTS Contents Mayor’s Report
Page 5 and 6:
M AYOR’ S R EPORT Beatty Park Lei
Page 7 and 8:
C OUNCIL I NFORMATION Council Infor
Page 9 and 10:
C OUNCIL I NFORMATION Audit Committ
Page 11 and 12:
C HIEF E XECUTIVE O FFICER’ S R E
Page 13 and 14:
C HIEF E XECUTIVE O FFICER’ S D I
Page 15 and 16:
S ENIOR O FFICERS Senior Officers T
Page 17 and 18:
C ORPORATE S ERVICES Concert at Ban
Page 19 and 20:
C ORPORATE S ERVICES Arts The Wetla
Page 21 and 22:
C ORPORATE S ERVICES Outcome 5: Opp
Page 23 and 24:
C ORPORATE S ERVICES Compliance wit
Page 25 and 26:
C ORPORATE S ERVICES Health and Fit
Page 27 and 28:
E NVIRONMENTAL AND D EVELOPMENT S E
Page 29 and 30:
Page 31 and 32:
Page 33 and 34: E NVIRONMENTAL AND D EVELOPMENT S E
Page 35 and 36: T ECHNICAL S ERVICES Technical Serv
Page 37 and 38: T ECHNICAL S ERVICES Worm Farms and
Page 39 and 40: T ECHNICAL S ERVICES • Robertson
Page 41 and 42: T ECHNICAL S ERVICES The redevelopm
Page 43 and 44: P RINCIPAL A CTIVITIES P LAN Princi
Page 45 and 46: P RINCIPAL A CTIVITIES P LAN PRINCI
Page 53 and 54: P RINCIPAL A CTIVITIES P LAN PARKIN
Page 55 and 56: P RINCIPAL A CTIVITIES P LAN STATIS
Page 61 and 62: P RINCIPAL A CTIVITIES P LAN Effici
Page 63 and 64: P RINCIPAL A CTIVITIES P LAN KEY PE
Page 67 and 68: P RINCIPAL A CTIVITIES P LAN State
Page 69 and 70: C OMPETITION P RINCIPLES A GREEMENT
Page 71 and 72: T OWN P ROFILE The Viking by Vaness
Page 73 and 74: T OWN M AP Area of Parks and Garden
Page 75 and 76: F INANCIAL R EPORT FOR THE YEAR END
Page 77 and 78: S TATEMENT BY C HIEF E XECUTIVE O F
Page 79 and 80: S TATEMENT OF F INANCIAL P OSITION
Page 81 and 82: S TATEMENT OF C ASH F LOWS Statemen
Page 83: NOTES TO AND FORMING PARTS OF THE F
Page 87 and 88: NOTES TO AND FORMING PARTS OF THE F
Page 111 and 112: T OWN OF V INCENT L OGO In late 199
show all

Annual Report 2004-2005 - City of Vincent

Create successful ePaper yourself

Delete template?

Save as template?