Annual Report 2004-2005 - City of Vincent

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
10 CASH RESERVES (CONT)
(m)
LEEDERVILLE OVAL RESERVE
This reserve was established in 1998/99 with the allocation of $1,000,000 from the Infrastructure Account established under the City
of Perth Restructuring Act. The purpose of this reserve is for the redevelopment of Leederville Oval.
(n)
LEN FLETCHER PAVILION RESERVE
This reserve was established in 1998/99 with the allocation of $250,000 from the Infrastructure Account established under the City
of Perth Restructuring Act. The purpose of this reserve is for works associated with the renovation/maintenance/repairs/demolition of
Len Fletcher Pavilion and associated land.
(o)
HERITAGE LOW INTEREST LOAN SCHEME RESERVE
This reserve was established in 1998/99 with the allocation of $20,000 to the newly-created Heritage Loan Reserve.
The purpose of the Heritage Loan Reserve is to be changed to the Heritage Low Interest Loan Scheme and the funds held to be
applied to that new Reserve to enable the funds to be transferred to the proposed Western Australian Municipal Association scheme.
(p)
LIGHT FLEET REPLACEMENT RESERVE
This reserve was established in the budget for 2001/02 to fund the replacement of the light vehicle fleet which is now contracted to
occur every three years. An annual transfer will be made to this reserve, which minimises the impact of the capital outlay for the light
vehicle fleet in the year of the replacement of the fleet.
(q)
UNDERGROUND POWER RESERVE
This reserve was established in 1998/99 with the allocation of $20,000 for the purpose of funding Council’s possible contribution to
underground power projects considered by State Government.
{r)
OFFICE BUILDING RESERVE
This reserve was established at the Ordinary Council meeting of 13 May 2003. It was agreed to establish this new Office Building
Reserve for major building upgrade, maintenance, repairs, renovation and replacement of fixtures and fittings associated with the new
Department of Sport and Recreation land and building.
(s)
PERTH OVAL RESERVE
This reserve was established at the Special Council meeting of 30 October 2001 for the purpose of funding work associated with the
maintenance, repairs, upgrade and replacement of Perth Oval buildings, fixtures, fittings and associated land.
(t) PERTH OVAL RESERVE STAGE 2
This reserve was established for the purpose of funding work associated with the redevelopment, maintenance, repairs, upgrade and
replacement of Perth Oval Stage 2 project of buildings, fixtures, fittings and associated land.
(u)
STATE INDOOR MULTI-USE SPORTS CENTRE RESERVE
At the Ordinary Council meeting of 23 July 2002, it was agreed to establish a new State Indoor Multi-Use Sports Centre for the
following purpose:
“For works associated with the maintenance, repairs, alterations, upgrade and replacement of the proposed State Indoor Multi-Use
Sports Centre buildings, major plant and equipment, fixtures, fittings and associated land.”
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TOWN OF VINCENT _ A NNUAL R EPORT 2004-2005