Annual Report 2017-18 | Monash Health

Notes to the Financial Statements
Monash Health Annual Report 2017/2018
Note 8.1: Equity
(a) Surpluses
Property, Plant and Equipment Revaluation Surplus
Consolidated Consolidated
2018 2017
$'000
$'000
Balance at the beginning of the reporting period 641,545 641,545
Revaluation increment
- Land 35,000 -
Balance at the end of the reporting period* 676,545 641,545
* Represented by:
- Land 158,864 123,864
- Buildings 516,917 516,917
- Cultural assets 447 447
- Motor vehicles 317 317
676,545 641,545
Restricted Specific Purpose Surplus
Balance at the beginning of the reporting period 14,953 8,203
Transfer from accumulated surplus 5,762 6,750
Balance at the end of the reporting period 20,715 14,953
Total Surpluses 697,260 656,498
(b) Contributed Capital
Balance at the beginning of the reporting period 403,093 403,048
Capital contribution received from Victorian Government 827 45
Balance at the end of the reporting period 403,920 403,093
(c) Accumulated Surpluses
Balance at the beginning of the reporting period 133,689 32,982
Net result for the year 15 107,457
Transfers to restricted specific purpose surplus (5,762) (6,750)
Prior year adjustment 36 -
Balance at the end of the reporting period 127,978 133,689
Total equity at end of year 1,229,158 1,193,280
Contributed Capital
Consistent with Australian Accounting Interpretation 1038 Contributions by Owners Made to
Wholly-Owned Public Sector Entities and FRD 119A Contributions by Owners , appropriations
for additions to the net asset base have been designated as contributed capital. Other
transfers that are in the nature of contributions to or distributions by owners that have been
designated as contributed capital are also treated as contributed capital.
Transfers of net assets arising from administrative restructurings are treated as contributions
by owners. Transfers of net liabilities arising from administrative restructures are to go
through the Comprehensive Operating Statement.
Property, Plant and Equipment Revaluation Surplus
The asset revaluation surplus is used to record increments and decrements on the revaluation
of non-current physical assets.
Specific Restricted Purpose Surplus
A specific restricted purpose surplus is established where Monash Health has possession or
title to the funds but has no discretion to amend or vary the restriction and/or condition
underlying the funds received.
124 Monash Health Annual Report 2017-18