FINANCIAL REPORT
15 . Fundraising Reserve
2020 2019
$ $ Balance at beginning of financial year 1,097,166 1,128,281 Transfer to general funds ( 19,235 ) ( 31,115 ) Balance at end of financial year 1,077,931 1,097,166
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
2020 2019
$ $ Right-of-use assets 12,067,882 11,072,319 Less : Accumulated depreciation ( 5,359,473 ) ( 2,527,219 ) Balance at end of financial year 6,708,409 8,545,100
Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial period are set out below .
Balance at beginning of year 8,545,100 - Adoption of AASB 16 on 1 January 2019 - 3,801,975 Additions 995,564 6,942,548 Depreciation Expense ( 2,832,255 ) ( 2,199,423 )
Balance at end of year 6,708,409 8,545,100
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