CQUniversity Annual Report - Central Queensland University

40Central Queensland Universityand Controlled EntitiesNotes to the Financial Statementsfor the year ended 31 December 2012ConsolidatedParent EntityNotes 2012 2011 2012 2011$'000 $'000 $'000 $'000Note 31. Reserves and retained surpluses(a) ReservesProperty, plant and equipment revaluation reserve 78,452 75,171 78,451 75,171Available for sale financial assets 5,990 2,402 5,923 2,704Foreign currency translation reserve 34 - - -Total reserves 84,476 77,573 84,374 77,875Non-controlling interest (17) - - -Total reserves attributable to parent entity 84,459 77,573 84,374 77,875Movements:Property, plant and equipment revaluation reserveBalance 1 January 75,171 72,584 75,171 72,584Revaluation increment/(decrement)Buildings 1,718 1,583 1,718 1,583Land 401 596 401 596Infrastructure 71 61 71 61Library heritage collection 1,167 - 1,167 -Artwork (77) 347 (77) 347Balance 31 December 78,451 75,171 78,451 75,171Available for sale financial assets reserveBalance 1 January 2,402 5,996 2,704 6,275Fair value increment/(decrement) 3,588 (3,594) 3,219 (3,571)Balance 31 December 5,990 2,402 5,923 2,704Foreign currency translation reserveBalance 1 January - - - -Fair value increment/(decrement) 34 - - -Balance 31 December 34 - - -(b) Retained surplusMovements in retained surplus were as follows:Retained surplus at 1 January 207,196 210,474 202,527 205,469Net operating result for the year (25,896) (3,278) (24,636) (2,942)Retained surplus on acquisition of subsidiary (166) - - -Retained surplus at 31 December 181,134 207,196 177,891 202,527(c) Nature and purpose of reservesThe property, plant and equipment revaluation reserve includes the net revaluation increments and decrements arising from therevaluation.Available for sale financial assets reserve represents fair value movements in financial assets.The share revaluation reserve includes the net revaluation increments and decrements arising from the revaluation.The foreign currency translation reserve relates to the translation of the results and position of CQU Institute of Higher Learning PteLtd whose functional and presentation currency is Singapore dollars into the group accounts which are presented in Australiandollars.