2011-2012 Annual Report - Full Version - PDF - Palmerston North ...

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Statement of Changes in Equityfor the year ended 30 June 2012Palmerston North City CouncilCouncilGroupActual Budget Actual Actual Actual2012 2012 2011 2012 2011$000 $000 $000 $000 $000BALANCE AT 1 JULY 1,181,140 1,238,527 1,138,755 1,219,199 1,175,487Total comprehensiveincome previously reported (10,720) 8,185 42,385 (8,496) 43,712BALANCE AT 30 JUNE 1,170,420 1,246,712 1,181,140 1,210,703 1,219,199Financial Statements Statement of Changes in Equity◊The accompanying notes form part of thesefinancial statements.136Palmerston North City Council Annual Report 2011/12
Statement of Cash Flowsfor the year ended 30 June 2012Palmerston North City CouncilCouncilGroupActual Budget Actual Actual Actual2012 2012 2011 2012 2011Note $000 $000 $000 $000 $000CASH FLOWS FROM OPERATING ACTIVITIESReceipts from rates revenue 69,028 68,366 65,554 68,698 65,311Interest received 927 1,298 1,997 981 2,078Dividends received 211 150 143 - -Receipts of grants 408 - 345 428 1,122Receipts from other revenue 26,626 27,551 25,099 32,758 30,272Revenue for capital expenditure 3,649 5,711 4,113 3,649 4,113Receipts from taxation losses 166 - 139 166 139Payments to suppliers and employees (69,719) (70,807) (68,527) (73,428) (71,535)Interest paid (9,991) (11,121) (10,086) (10,433) (10,552)Income tax paid (net) - - - (179) (167)Goods and services tax (net) (156) - 214 (60) 120NET CASH FROMOPERATING ACTIVITIES 25 21,149 21,148 18,991 22,580 20,901CASH FLOWS FROM INVESTING ACTIVITIESProceeds from sale of property 732 - 669 733 672Proceeds from sale of biological assets 280 513 796 280 796Purchase of intangible assets (188) - (136) (189) (143)Purchase of property, plant and equipment (23,315) (49,139) (31,087) (24,820) (33,045)Purchase of investment property (1) - (68) (1) (68)Other advances made, repayment received (147) - 177 (147) 177Repayment, acquisition of investments (196) - - (93) (47)NET CASH FROM INVESTING ACTIVITIES (22,835) (48,626) (29,649) (24,237) (31,658)CASH FLOWS FROM FINANCING ACTIVITIESProceeds from borrowings 650 29,683 - 1,750 800Reduction in investment fund 1,700 2,000 13,966 1,700 13,966Repayment of borrowings (406) (4,205) (3,565) (1,706) (4,865)Payment of finance lease liabilities (1) - (4) (1) (4)NET CASH FROM FINANCING ACTIVITIES 1,943 27,478 10,397 1,743 9,897Net (decrease)/increase in cash,cash equivalents and bank overdrafts 257 - (261) 86 (860)Cash, cash equivalents and bankoverdrafts at the beginning of the year 112 2,000 373 1,929 2,789CASH, CASH EQUIVALENTSAND BANK OVERDRAFTSAT THE END OF THE YEAR 10 369 2,000 112 2,015 1,929Financial Statements Statement of Cash Flows◊The income tax paid (net) and GST (net)component of operating activities reflects therespective net amounts paid and received withthe Inland Revenue Department. These havebeen presented on a net basis, as the grossamounts do not provide meaningful informationfor financial statement purposes.◊The accompanying notes form part of thesefinancial statements.Palmerston North City Council Annual Report 2011/12137
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Palmerston North City CouncilAnnual
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Contents1. OVERVIEWCouncil’s Visi
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OverviewPalmerston North City Counc
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Year in ReviewAgainst the backdrop
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Overview Year in ReviewLocal Govern
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The following table details how we
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Funding Source Proportions for Oper
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Asset Base1,3601,3401,3201,300$ Mil
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Borrowing Ratios20%Policy Maximum16
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Overview What's Happening in the Ci
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Overview What's Happening in the Ci
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Overview How Do We Operate?Election
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Role of Management and EmployeesOve
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ActualAmount Paid2011/12$Annual Pla
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Overview Funding Support to Externa
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What the Council DoesPalmerston Nor
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Tying these pillars together at the
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What the Council DoesLeadershipLead
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Activity - Councillor Leadership an
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Financial ResultsActivity Operation
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The District PlanThe Council has co
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What the Council DoesCommunitySuppo
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Activity - CemeteriesWhat the Counc
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How did we performLevels of Service
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Activity - Community DevelopmentWha
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The Youth Library, located within t
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The Papaioea Place project will pro
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EconomicDevelopmentEconomic Develop
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Activity - Economic DevelopmentWhat
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How did we performPerformance Measu
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LeisureGroup DescriptionThe Leisure
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Activity - Arts and CultureWhat the
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Activity - City LibraryWhat the Cou
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Significant Activity Capital Projec
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What happened in the yearSportsfiel
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How did we performLevels of Service
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Levels of ServicePerformance Measur
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j. Programme not completed due to s
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Environmental Sustainability and He
Page 93 and 94: Activity - RegulatoryWhat the Counc
Page 95 and 96: District Licensing Agency staff hav
Page 97 and 98: Levels of ServicePerformance Measur
Page 99 and 100: Activity - Roading and ParkingWhat
Page 101 and 102: Major issues relating to Roading an
Page 103 and 104: Levels of ServicePerformance Measur
Page 105 and 106: Significant Activity Capital Projec
Page 107 and 108: Activity - Rubbish and RecyclingWha
Page 109 and 110: How did we performPerformance Measu
Page 113 and 114: How did we performLevels of Service
Page 115 and 116: Activity - WastewaterWhat the Counc
Page 117 and 118: How did we performPerformance Measu
Page 121 and 122: Several projects were put on hold t
Page 123 and 124: Financial ResultsActivity Operation
Page 125 and 126: Support ServicesGroup DescriptionTh
Page 127 and 128: Activity - Commercial or Strategic
Page 131 and 132: Activity - Corporate SupportWhat th
Page 135 and 136: How did we performLevels of Service
Page 137 and 138: Financial StatementsFinancial State
Page 139 and 140: Independent Auditor’s ReportTo th
Page 141 and 142: Statement of Compliance and Respons
Page 143: Statement of Financial PositionAS A
Page 147 and 148: PNCC measures the cost of a busines
Page 149 and 150: PNCC’s investments in its subsidi
Page 151 and 152: Carpark leasesAcquired carpark leas
Page 153 and 154: Critical accounting estimates and a
Page 155 and 156: Comprehensive detail of both financ
Page 157 and 158: Note 3Rates RevenueCouncilActual Ac
Page 159 and 160: Note 6Other gains/(losses)CouncilGr
Page 161 and 162: Note 10Cash and cash equivalentsCou
Page 163 and 164: ◊As of 30 June 2012 and 2011, all
Page 165 and 166: Accounting policies require that lo
Page 167 and 168: Current Reversal of Current year Cu
Page 169 and 170: Current Reversal of Current year Cu
Page 171 and 172: ◊reality is that infrastructure l
Page 173 and 174: Note 17Forestry assets Council Grou
Page 175 and 176: Note 21Provisions Council GroupActu
Page 177 and 178: Note 23BorrowingsCouncilGroupActual
Page 179 and 180: Note 24Equity Council GroupActual A
Page 181 and 182: Note 26Capital commitments and oper
Page 183 and 184: Carbon Credits◊◊PNCC has an agr
Page 185 and 186: Transactions with Councillors and K
Page 187 and 188: SalaryWith the enactment of the Loc
Page 189 and 190: Note 33Fair value hierarchy disclos
Page 191 and 192: PNCC’s maximum credit exposure fo
Page 193 and 194: The table below analyses PNCC’s f
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2012 2011$000 $000 $000 $000 $000 $
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Council Controlled OrganisationsCou
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Council Controlled OrganisationsThe
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Globe Theatre Trust BoardObjectives
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Te Manawa Museums Trust BoardObject
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Palmerston North Airport LtdObjecti
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AppendicesAppendicesPalmerston Nort
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How to Find usPostal AddressPrivate
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www.pncc.govt.nz
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