2012 wintec annual report
2012 wintec annual report
2012 wintec annual report
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WINTEC ANNUAL<br />
REPORT <strong>2012</strong><br />
35<br />
STATEMENT OF<br />
COMPREHENSIVE INCOME<br />
For the year ended 31 December <strong>2012</strong>.<br />
CONSOLIDATED<br />
PARENT<br />
Notes<br />
Actual<br />
<strong>2012</strong><br />
$’000<br />
Budget<br />
<strong>2012</strong><br />
$’000<br />
Actual<br />
2011<br />
$’000<br />
Actual<br />
<strong>2012</strong><br />
$’000<br />
Budget<br />
<strong>2012</strong><br />
$’000<br />
Actual<br />
2011<br />
$’000<br />
Income<br />
Government grants 3(a) 46,931 47,218 46,714 46,931 47,218 46,714<br />
Student tuition fees 3(b) 29,677 28,790 26,297 29,677 28,790 26,297<br />
Other income 3(c) 10,772 13,023 10,135 8,966 9,424 8,803<br />
Finance income 3(d) 338 154 216 272 124 196<br />
Total Income 87,717 89,185 83,362 85,846 85,556 82,010<br />
Expenditure<br />
Personnel costs 3(e) (48,467) (49,373) (47,584) (46,333) (46,600) (46,682)<br />
Depreciation and<br />
amortisation expense<br />
8, 9 (6,416) (7,016) (6,028) (6,393) (7,016) (5,963)<br />
Other expenses 3(f) (28,522) (27,173) (25,823) (28,223) (26,266) (25,331)<br />
Finance costs 3(d) (695) (656) (658) (691) (653) (654)<br />
Total Expenditure (84,101) (84,218) (80,093) (81,640) (80,536) (78,629)<br />
Share of associates<br />
surplus/(deficit)<br />
- - - - - -<br />
Surplus/(Deficit) 3,616 4,967 3,269 4,206 5,020 3,381<br />
Total surplus attributable to:<br />
The Waikato Institute of Technology<br />
3,631 4,967 3,380 4,206 5,020 3,381<br />
Non-controlling interest (15) - (111) - - -<br />
Other Comprehensive Income<br />
Property revaluations - - 2,917 - - 2,917<br />
Impairment of assets (1,111) - - (1,111) - -<br />
Total Other Comprehensive<br />
Income/ (Expense)<br />
(1,111) - 2,917 (1,111) - 2,917<br />
Total Comprehensive<br />
Income/ (Expense)<br />
2,505 4,967 6,186 3,095 5,020 6,298<br />
FINANCIAL PERFORMANCE<br />
Total comprehensive income<br />
attributable to:<br />
The Waikato Institute of Technology<br />
2,520 4,967 6,297 3,095 5,020 6,298<br />
Non-controlling interest (15) - (111) - - -<br />
Explanation of major variances against budget are provided in note 22.<br />
The accompanying notes form part of these financial statements<br />
1<br />
2<br />
3<br />
4<br />
5<br />
6<br />
7<br />
8<br />
9<br />
10
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