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

Note 24Equity Council GroupActual Actual Actual Actual2012 2011 2012 2011$000 $000 $000 $000RETAINED EARNINGSAs at 1 July 981,477 984,121 1,006,747 1,008,123Transfers from/(to) special funds - - 114 131Transfer from/(to) Group on CCO transfer to Council - - - -Transfers from asset revaluation reserve ondisposal of property 234 157 234 157Surplus/(deficit) for the year (10,749) (2,801) (10,442) (1,664)As at 30 June 970,962 981,477 996,653 1,006,747SPECIAL FUNDSAs at 1 July - - 201 332Transfers (to)/from retained earnings - - (114) (131)As at 30 June - - 87 201FINANCIAL ASSETS AT FAIR VALUETHROUGH OTHER COMPREHENSIVE INCOMEAs at 1 July 75 397 75 397Revaluation of shares in Civic Assurancerecognised in other comprehensive income 29 (322) 29 (322)As at 30 June 104 75 104 75ASSET REVALUATION RESERVETHROUGH OTHER COMPREHENSIVE INCOMEAs at 1 July 199,588 154,237 212,176 166,635Revaluation gains/(losses) recognisedin other comprehensive income (net of deferred tax) - 45,508 1,917 45,698Transfer to retained earnings on disposal of property (234) (157) (234) (157)As at 30 June 199,354 199,588 213,859 212,176ASSET REVALUATION RESERVE CONSISTS OF:Operational assetsLand 1,241 1,469 10,563 10,791Buildings 60,619 60,616 61,430 62,051Improvements - - - -Heritage collection - - 1,374 1,374Art collection - - 2,998 457Financial Statements Note 24Infrastructural assetsWastewater system 25,566 25,567 25,566 25,567Water system 9,215 9,223 9,215 9,223Stormwater system 32,844 32,844 32,844 32,844Roading network 63,608 63,608 63,608 63,608Waste management 92 92 92 92Restricted assetsLand 6,169 6,169 6,169 6,169Total Revaluation Reserve 199,354 199,588 213,859 212,176TOTAL EQUITY 1,170,420 1,181,140 1,210,703 1,219,199Palmerston North City Council Annual Report 2011/12171