Berry Street Web Docs Financial Report 2013 | Page 24

BERRY STREET VICTORIA INC. ABN 24 719 196 762 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2013 NOTE 16: CASH FLOW INFORMATION (a) Non-cash financing and investment activities The were no non-cash financing activities during the year ended 30 June 2013 (b) Credit stand-by arrangement and loan facilities There were no credit stand-by arrangements or loan facilities at 30 June 2013. NOTE 17: KEY MANAGEMENT PERSONNEL COMPENSATION Short-term benefits Salary and fees $ Long-term benefits Superannuation contribution $ Long service leave $ Total $ 2013 Total compensation 647,108 63,723 217,189 928,020 2012 Total compensation 570,985 56,198 216,080 843,263 NOTE 18: CONTINGENT LIABILITIES Included in Land and Buildings are three residential properties which were purchased in prior years with grants from the Department of Human Services, totalling 50% of the original purchase prices. A liability th exists to pay the Department 50% of the net proceeds of sale when realised. Based on the 30 June 2012 valuations of those properties, it is estimated that a contingent liability exists for $1,085,000 in the event of sale. Following the establishment in January 2013 of the Royal Commission into Institutional Responses to Past Child Sexual Abuse requests made of child welfare agencies from past clients for reparations, support and assistance have generally increased. Should requests for reparations, support and assistance arise, they will be assessed at the time. As such, no reliable estimate can be made of any costs, legal or otherwise that may be incurred in resolving these requests. NOTE 19: RELATED PARTY TRANSACTIONS Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other persons unless otherwise stated. (a) Berry Street Victoria is in partnership with Mindful and LaTrobe University to deliver the statewide Take Two Program. (b) Board member Kate Jenkins is a partner of Her