geoff hawkings - Waiariki Institute of Technology

note 21: asset revaluation reserve
equipment and computers
2006 2005
$000s $000s
Balance 1 January 1,404 1,404
Revaluation
Balance 31 December 1,404 1,404
Plant and Machinery
Balance 1 January 186
Revaluation 186
Balance 31 December 186 186
Furniture and Fittings
Balance 1 January 799 799
Revaluation
Balance 31 December 799 799
Motor Vehicles
Balance 1 January 82 82
Revaluation
Balance 31 December 82 82
buildings
Balance 1 January 2,179 2,179
Crown Owned Revaluation 3,646
Institute Owned Revaluation 4,787
Balance 31 December 10,612 2,179
land and improvements
Balance 1 January 370 370
Crown Owned Revaluation 798
Balance 31 December 1,168 370
TOTAL REVALUATION RESERVE 14,251 5,020
note 22: related Party
2006
During the year, Waiariki Institute of Technology purchased $1,518.75 services from APR Consultants,
a firm of which Mr Deryck Shaw, the Chairperson of Waiariki Institute of Technology, is a director. These
services were supplied on normal commercial terms (2005: cost $21,674.25).
There was $330.00 paid to Techlogic NZ for the services provided to the Institute in 2006. The councillor
Ms Raukawa-Doughty’s interest in the company was by way of a 50% share (being a marital share of her
husband’s company).
There were no other related party transactions.
2005
During the year, Waiariki Institute of Technology purchased $21,674.25 services from APR Consultants,
a firm of which Mr Deryck Shaw, the Chairperson of Waiariki Institute of Technology, is a director. These
services were supplied on normal commercial terms (2004: cost $181,542.50).
There was $540.00 paid to Techlogic NZ for the services provided to the Institute in 2005. The councillor
Ms Raukawa-Doughty’s interest in the company was by way of a 50% share (being a marital share of her
husband’s company).
There were no other related party transactions.
62 2006 ANNUAL REPORT