Annual Report 2011 - Sydney Opera House

9320. MOVEMENTS IN EQUITY2011 2010$’000 $’000Changes in aCCumulated fundsBalance at 1 July 231,280 212,500Revaluation movements on disposal of assets 3,714 33,168Deficit (5,007) (14,388)Balance 30 June 229,987 231,280The unspent balance of the Annual Giving Program (refer note 18(a) was $789k ($332kfor 2010) of which $496k ($192k for 2010) is restricted to specific objectives. Theunspent balance of the Foster Bequest (refer note 18(b)) was $117k ($117k for 2010).Changes in Asset Revaluation and Hedge Reserveasset Revaluation Reserve Hedge Reserve TOTal2011 2010 2011 2010 2011 2010$’000 $’000 $’000 $’000 $’000 $’000Balance 1 July 1,902,973 1,586,078 (332) (143) 1,902,641 1,585,935Recognised (3,714) (33,168) 332 143 (3,382) (33,025)Revaluation 21,896 350,063 - - 21,896 350,063Hedge reserve - - (66) (332) (66) (332)Balance 30 June 1,921,155 1,902,973 (66) (332) 1,921,089 1,902,641The Hedge Reserve represents the unrealised losses on forward foreign exchangecontracts. The Asset Revaluation Reserve represents net increments arising on therevaluation of non-current physical assets.21. COMMITMENTS(a) Other expenditure commitmentsGoods and services contracted for at 30 June but not recognised as liabilities are asfollows:2011 2010$’000 $’000Payable:Within one year 5,675 5,344Later than one year and not later than five years 4,657 7,653Later than five years 2,976 5,886Total including GST 13,308 18,883Goods and services contracted for at year end are of a general business nature. Thecommitments include input tax credits of $1,178k recoverable from the AustralianTaxation Office ($1,716k for 2010).