Annual Report - City of Gosnells

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Statement of comprehensive incomeby nature or typefor the year ended 30 June 20122012 2012 Budget 2011$ $ $REVENUERates 49,769,922 49,251,668 46,361,576Operating Grants, Subsidies and Contributions 6,688,374 4,620,145 6,490,522Fees and Charges 16,743,250 16,202,025 16,262,321Interest Earnings 6,294,295 2,861,851 5,554,608Other Revenue 434,052 97,000 182,66279,929,893 73,032,689 74,851,689ExpensesEmployee Costs (29,785,133) (30,392,065) (27,905,464)Materials and Contracts (18,171,191) (22,318,821) (19,725,330)Utility Charges (4,200,858) (4,335,659) (3,533,636)Depreciation on Non-Current Assets (15,772,430) (16,228,704) (15,296,472)Amortisation (182,728) (185,208) (152,681)Interest Expenses (852,197) (1,171,239) (1,479,874)Insurance Expenses (1,683,552) (1,684,646) (1,528,019)Other Expenditure (3,991,654) (744,147) (1,801,364)(74,639,743) (77,060,489) (71,422,840)5,290,150 (4,027,800) 3,428,849Non-Operating Grants, Subsidies and Contributions 14,007,132 11,033,388 12,187,006Fair value adjustments to financial assets at fair valuethrough profit or loss (171,917) 0 232,598Gain on Sale of Investment 114,172 0 0Profit on Asset Disposals 930,670 1,965,507 11,164,886Loss on Asset Disposals (503,094) (778,712) (1,139,712)NET RESULT 19,667,113 8,192,383 25,873,627Other Comprehensive IncomeLand and Building Revaluation 0 0 (90,553,630)Roads and Footpaths Revaluation 334,681,559 0 0Total Other Comprehensive Income 334,681,559 0 (90,553,630)TOTAL COMPREHENSIVE INCOME 354,348,672 8,192,383 (64,680,003)16
DISCUSSION ANDANALYSIS OF THEFINANCIAL STATEMENTSFOR THE YEAR ENDED 30JUNE 2012Statement of financial positionas at 30 June 2012Statement of financialpositionOverall Equity hasincreased during the2011/2012 financialyear by $354,348,672to $833,738,427. Thisprimarily results fromthe changes to the AssetRevaluation Reserve asa result of the Roads andFootpaths revaluation.Current Assets as at 30 June2012 have increased by$12,752,607 comparedto 2010/2011, with anincrease to Cash and CashEquivalents of $12,797,581to $82,646,235.Current Liabilities asat 30 June 2012 havedecreased by $758,481 to$18,697,400 comparedto 2010/2011 primarilyresulting from a reduction intrade and other payables.2012 2011$ $CURRENT ASSETSCash and Cash Equivalents 82,646,235 69,848,654Investments 0 1,692,830Trade and Other Receivables 4,187,730 3,961,514Inventories 3,927,045 2,505,405TOTAL CURRENT ASSETS 90,761,010 78,008,403NON-CURRENT ASSETSInvestments 3,482,202 4,143,544Other Receivables 1,438,741 1,867,132Property, Plant and Equipment 202,142,628 203,084,441Infrastructure 564,299,337 224,111,837TOTAL NON-CURRENT ASSETS 771,362,908 433,206,954TOTAL ASSETS 862,123,918 511,215,357CURRENT LIABILITIESTrade and Other Payables 9,715,252 11,734,238Borrowings 3,583,529 2,782,733Provisions 5,398,619 4,938,910TOTAL CURRENT LIABILITIES 18,697,400 19,455,881NON-CURRENT LIABILITIESBorrowings 9,028,371 11,701,008Provisions 659,720 668,713TOTAL NON-CURRENT LIABILITIES 9,688,091 12,369,721TOTAL LIABILITIES 28,385,491 31,825,602NET ASSETS 833,738,427 479,389,755EQUITYRetained Surplus 320,084,513 303,192,668Reserves - Cash/Investments Backed 46,198,039 42,567,807Reserves - Asset Revaluation 467,455,875 133,629,280TOTAL EQUITY 833,738,427 479,389,75517
Page 2 and 3: Annual Report 2011/12Contents334567
Page 4 and 5: Message from the MayorAs I travel t
Page 6 and 7: CouncillorsCr Wayne BarrettTerm exp
Page 8 and 9: Councillor attendance - July 2011 t
Page 10 and 11: InformationmanagementupdateThe City
Page 12 and 13: 2011/12 performanceA summary of som
Page 14 and 15: Concise Financial Reportfor the yea
Page 18 and 19: Statement of changes in equityfor t
Page 20: Statement of cash flows continued20
Page 24: PO Box 662Gosnells 6990Western Aust

Annual Report - City of Gosnells

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