FINANCIALS 2019
13. Provisions
2019 2018
$ $
Current
Employee Benefits:
Provision for annual leave and rostered days off 9,363,974 8,956,685
Provision for long service leave 6,732,619 6,305,743
16,096,593 15,262,428
Provision for Make Good Liability:
Make good liability 605,095 1,462,514
16,701,688 16,724,942
Non-current
Employee Benefits:
Provision for long service leave 2,354,601 2,111,979
Provision for Make Good Liability:
Make good liability 1,135,563 278,144
3,490,164 2,390,123
KU
20
19
14. General Funds
2019 2018
$ $
Balance at beginning of financial year 35,697,199 32,817,471
Effect of change on accounting policy for leases (132,332) -
Net surplus 931,615 2,858,879
Transfers from General Funds (Note 15) 31,115 20,849
Balance at end of financial year 36,527,597 35,697,199
15. Fundraising Reserve
2019 2018
$ $
Balance at beginning of financial year 1,128,281 1,149,130
Transfer (to) general funds (31,115) (20,849)
Balance at end of financial year 1,097,166 1,128,281
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.
Further notes on fundraising are set out in Note 23.
16. Non-current assets - right-of-use assets
2019 2018
$ $
Right-of-use assets 11,072,319 -
Less: Accumulated depreciation (2,527,219) -
Balance at end of financial year 8,545,100 -
30