SURF LIFE SAVING AUSTRALIA ANNUAL REPORT 2007–08

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2008
15. SPECIAL FUNDS
Funds have been set aside for specifi c purpose
and are detailed as follows:
2008
$
Consolidated Parent Entity
Building Fund 404,664 440,968 404,664 440,968
Academy Interest Fund 496,507 231,884 496,507 231,884
Lifesaving Equipment Fund 18,546 28,388 18,546 28,388
Lifesaving Projects – NSW – 10,000 – 10,000
Lifesaving Touring Team – 5,771 – 5,771
Lifesaving Surveillance Cameras 50,000 50,000 50,000 50,000
Overseas Touring Fund 62,956 62,956 62,956 62,956
Strategic Development Fund 25,594 25,594 25,594 25,594
Long Term Reserve 962,173 1,628,651 962,173 1,628,651
Movement in Special Funds
2007
$
2008
$
2007
$
2,020,440 2,484,212 2,020,440 2,484,212
Balance at beginning of fi nancial year 2,484,212 2,134,259 2,484,212 2,134,259
Plus:
Appropriation of income received relating to funds 264,623 511,923 264,623 511,923
Less:
Approved expenditure from funds (728,395) (161,970) (728,395) (161,970)
Balance at end of fi nancial year 2,020,440 2,484,212 2,020,440 2,484,212
This year $728,395 of Special Funds were drawn down to run specifi c programs as per the SLSA Business Plan.
16. DETAILS OF CONTROLLED ENTITIES
Country of
Incorporation
Percent of shares held
Southern Region SLSA Helicopter Rescue Service Pty Ltd (1) Australia 100 100
Northern Region SLSA Helicopter Rescue Service Pty Ltd (1) (2) Australia 100 100
SLSA Helicopters Pty Ltd Australia 100 100
Surf Sports Australia Pty Ltd Australia 100 100
(1) Compliance with the fi nancial disclosure requirements of the Charitable Fundraising Act 1991 (NSW)
has been disclosed in the fi nancial statements of these entities.
(2) Not Audited by PKF.
80 SURF LIFE SAVING AUSTRALIA—ANNUAL REPORT 2007–08
2008
%
2007
%