Annual Report 2004-2005 - City of Vincent
Annual Report 2004-2005 - City of Vincent
Annual Report 2004-2005 - City of Vincent
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NOTES TO AND FORMING PARTS OF THE FINANCIAL STATEMENTS<br />
Notes to and forming parts <strong>of</strong> the Financial Statements<br />
for the year ended 30 June <strong>2005</strong><br />
12 NOTES TO THE STATEMENT OF CASH FLOWS<br />
(a)<br />
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO OPERATING SURPLUS FOR THE YEAR<br />
ENDED 30 JUNE <strong>2004</strong><br />
2003/04 <strong>2004</strong>/05<br />
$ $<br />
4,908,758 Change in Net Assets Resulting from Operations 688,284<br />
Adjustment for items not involving the movement <strong>of</strong> Cash:<br />
4,764,951 Depreciation 5,277,042<br />
(72,892) (Gain)/Loss on Sale <strong>of</strong> Property, Plant and Equipment (105,189)<br />
9,600,457 5,860,137<br />
Revenues Provided by:<br />
(721,394) Government Grants – Operating (2,245,367)<br />
(5,836,134) Government Grants – Non-Operating (544,306)<br />
(6,557,528) (2,789,673)<br />
0 Change in Operating Assets and Liabilities<br />
268,329 Increase/(Decrease) in Provisions 239,361<br />
9,540 Increase/(Decrease) Income Received in Advance 128,885<br />
0 Increase/(Decrease) in Accrued Expenses (47,800)<br />
0 Increase/(Decrease) in Bonds 0<br />
359,051 Increase/(Decrease) in Creditors (717,381)<br />
(619,203) Decrease/(Increase) in Debtors 510,941<br />
0 Decrease/(Increase) in Deferred Assets 0<br />
0 (Decrease)/Increase in Prepaid Receivables 0<br />
(33,862) Decrease/(Increase) in Prepayments (45,911)<br />
49,080 (Increase)/Decrease in Stock on Hand 21,918<br />
(246,948) GST Movement 119,497<br />
128,978 Mindarie Regional Council Rebate 0<br />
46,822 (Increase)/Decrease in Accrued Interest 33,514<br />
(38,213) 243,024<br />
$3,005,076 Net Cash Provided by Operating Activities $3,313,489<br />
(b)<br />
RECONCILIATION OF CASH<br />
For the purposes <strong>of</strong> the statement <strong>of</strong> cash flows the Town <strong>of</strong> <strong>Vincent</strong> considers cash to include cash on hand and in banks and<br />
investments net <strong>of</strong> outstanding bank overdrafts and non-cash investments. Cash at the end <strong>of</strong> the reporting period as shown in the<br />
statement <strong>of</strong> cash flows is reconciled to the related items in the statement <strong>of</strong> financial position as follows:<br />
2003/04 <strong>2004</strong>/05<br />
$ $<br />
6,377 Cash on Hand 8,568<br />
850,885 Cash at Bank 1,284,014<br />
8,923,266 Short Term Investments 8,272,135<br />
$9,780,528 $9,564,717<br />
TOWN OF VINCENT _ A NNUAL R EPORT <strong>2004</strong>-<strong>2005</strong><br />
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