14. Fundraising Reserve
2012 2011 $ $
Fundraising reserve 1,195,958 1,192,584
Balance at beginning of financial year 1,192,584 1,261,579 Transfer to general funds 3,374( 68,995) Balance at end of financial year 1,195,958 1,192,584
The fundraising reserve arises from the accumulated efforts of parents and staff to allow services to purchase optional toys and equipment, to assist the service to expand and develop to meet local needs and to allow parents to share in the life of the service and to make a concrete contribution to their children’ s lives.
( i) Further notes on fundraising are set out in Note 21
15. Available-for-Sale Reserve Balance at beginning of financial year |
477,759 |
1,109,374 |
Valuation gain /( loss) |
611,371 |
( 631,615) |
Balance at end of financial year |
1,089,130 |
477,759 |
The Available-for-Sale Reserve arises on the revaluation of available-for-sale financial assets. Where a revalued financial asset is sold that portion of the reserve which relates to that financial asset, and is effectively realised, is recognised in profit or loss. Where a revalued financial asset is impaired that portion of the reserve which relates to that financial asset is recognised in profit or loss.
16. Commitments for Expenditure Operating Leases
Leasing arrangements Operating leases relate to centre facilities and to centre computer equipment. KU does not have an option to purchase the leased assets at the expiry of the lease period.
Non-cancellable operating lease payments Not longer than 1 year |
1,122,005 |
722,418 |
Longer than 1 year and not longer than 5 years |
1,364,390 |
764,215 |
Longer than 5 years |
194,322 |
- |
|
2,680,717 |
1,486,633 |
Building Commitments |
|
|
The company received government funding for the building of the Faulconbridge centre. At year end, the company |
had a commitment for further capital expenditure of $ 1,053,039 to complete the centre. |
Continues...
117th Annual Report 2012 35