KU Annual Report 2010 | Page 23

KU Financial Report

Statement of Changes in Equity for the Financial Year Ended 31 December 2010

Retained Earnings
Salary Recovery Fund
Fundraising Reserve
Investment revaluation reserve
Total
$ $ $ $ $
Balance at 1 January 2009 7,347,893 800,000 1,211,763 - 9,359,656 Deficit for the year ( 48,086 ) - - - ( 48,086 ) Transfer ( from ) / to retained earnings 768,311 ( 800,000 ) 31,689 - - Valuation gain recognised - - - 1,049,451 1,049,451 Balance at 31 December 2009 8,068,118 - 1,243,452 1,049,451 10,361,021 Balance at 1 January 2010 8,068,118 - 1,243,452 1,049,451 10,361,021 Deficit for the year ( 1,178,344 ) - - - ( 1,178,344 ) Net transfers ( from ) / to retained earnings ( 18,127 ) - 18,127 - - Valuation gain recognised - - - 59,923 59,923 Balance at 31 December 2010 6,871,647 - 1,261,579 1,109,374 9,242,600

Statement of Cash Flows for the financial year ended 31 December 2010

Note 2010 2009 $ $
Cash flows from operating activities
Receipts from customers , government bodies and centres
93,404,875
74,506,668
Receipts from Government brokered programs 19,540,721 52,546,466 Total receipts 112,945,596 127,053,134 Payments to suppliers and employees ( 91,501,395 ) ( 80,969,748 ) Allocations to recipients of brokered programs ( 30,559,957 ) ( 31,893,298 ) Total Payments ( 122,061,352 ) ( 112,863,046 )
Net cash ( utilised ) / provided by operating activities
21 ( a )
( 9,115,756 )
14,190,088
Cash flows from investing activities Payment for property , plant and equipment
( 2,410,411 )
( 3,043,969 )
Interest received
136,331
162,160
Dividends
376,134
138,931
Proceeds from sale of property , plant and equipment
32,274
13,090
Net cash used in investing activities
( 1,865,672 )
( 2,729,788 )
Net ( decrease ) / increase in cash and cash equivalents
( 10,981,428 )
11,460,300
Cash and cash equivalents at the beginning of the financial year
27,608,816
16,148,516
Cash and cash equivalents at the end of the financial year
21 ( b )
16,627,388
27,608,816
Notes to the financial statements are included on pages 24 to 39 .
115th Annual Report 2010 23