2012 wintec annual report

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NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2012. 10 assets held for sale Assets held for sale under non-current assets include 14.2ha of the Rotokauri campus which the Council has identified as surplus and available for sale. This includes the compulsory purchase of the land by New Zealand Transport Agency for the new road. It is expected that this land will be sold within the next 12 months. 2012 $'000 2011 $'000 Assets held for sale Current assets 2,393 5,623 Non current assets - - Total Assets held for sale 2,393 5,623 11 CREDITORS AND OTHER PAYABLES CONSOLIDATED 2012 $'000 2011 $'000 2012 $'000 PARENT 2011 $'000 Trade payables 2,488 1,601 2,413 1,836 Other payables 5,229 4,178 4,243 3,741 Total 7,717 5,779 6,656 5,577
WINTEC ANNUAL REPORT 2012 63 12 employee entitlements CONSOLIDATED 2012 $'000 2011 $'000 2012 $'000 PARENT 2011 $'000 Employee entitlements At 1 January 5,460 2,831 5,382 2,831 Additions during the year 3,593 5,580 3,361 5,482 Utilised during the year (3,929) (2,951) (3,803) (2,931) At 31 December 5,124 5,460 4,940 5,382 Current portion 4,770 4,973 4,587 4,895 Non-current portion 354 487 354 487 Total 5,124 5,460 4,940 5,382 Expected future payments are discounted using forward discount rates derived from the yield curve of New Zealand Government bonds. The discount rates used have maturities that match, as closely as possible, the estimated future cash outflows. The salary inflation factor has been determined after considering historical salary inflation patterns and after obtaining independent advice. If the salary inflation factor were to increase or decrease by 1% from that used, with all other factors held constant, the carrying amount of the retirement gratuity liability would be an estimated $29,283 higher/lower (2011 $37,346). If the discount rates used were to increase or decrease by 1% from that used, with all other factors held constant, the carrying amount of the retirement gratuity liability would be an estimated $100 higher/lower (2011 $90). 13 REVENUE IN ADVANCE FINANCIAL PERFORMANCE CONSOLIDATED 2012 $'000 2011 $'000 2012 $'000 PARENT Student fees 15,083 14,910 15,083 14,910 Other revenue in advance 462 231 209 201 Total 15,545 15,141 15,293 15,111 Current portion 15,545 15,141 15,293 15,111 Non-current portion - - - - Total 15,545 15,141 15,293 15,111 2011 $'000 1 2 3 4 5 6 7 8 9 10
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2012 wintec annual report
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WINTEC ANNUAL REPORT 2012 5 OVERVIE
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WINTEC ANNUAL REPORT 2012 7 1995 La
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WINTEC ANNUAL REPORT 2012 09 Qualit
Page 12 and 13: In 2012 we drove further innovation
Page 14 and 15: We continued to develop relationshi
Page 16 and 17: 6 4 2 1 3 7 5 Our Council On April
Page 19 and 20: WINTEC ANNUAL REPORT 2012 19 HIGHLI
Page 21 and 22: WINTEC ANNUAL REPORT 2012 21 The ac
Page 23 and 24: WINTEC ANNUAL REPORT 2012 23 World
Page 25 and 26: WINTEC ANNUAL REPORT 2012 25 TEC Fu
Page 27 and 28: WINTEC ANNUAL REPORT 2012 27 EQUAL
Page 29: WINTEC ANNUAL REPORT 2012 29 Equal
Page 32 and 33: Statement of Responsibility The Cou
Page 34 and 35: AUDIT REPORT (Continued) We did not
Page 36 and 37: STATEMENT OF FINANCIAL POSITION As
Page 38 and 39: STATEMENT OF CHANGES IN EQUITY As a
Page 40 and 41: STATEMENT OF CASH FLOWS (Continued)
Page 42 and 43: NOTES TO THE FINANCIAL STATEMENTS F
Page 82 and 83: The Investment Plan is Wintec’s f
Page 84 and 85: PARTICIPATION AND PROVISION (Contin
Page 86 and 87: EDUCATIONAL OUTCOMES Educational pe
Page 88 and 89: EDUCATIONAL OUTCOMES (Continued) In
Page 90 and 91: CUSTOMERS AND STAKEHOLDERS (Continu
Page 92 and 93: RESEARCH Our research and commercia
Page 94 and 95: FINANCE, CAPITAL ASSETS AND PERFORM
Page 96 and 97: FINANCE, CAPITAL ASSETS AND PERFORM
Page 98 and 99: TEACHING AND LEARNING AND CAPABILIT
Page 101 and 102: WINTEC ANNUAL REPORT 2012 101 ackno
Page 103 and 104: WINTEC ANNUAL REPORT 2012 103 Hamil
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2012 wintec annual report

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