15. Reserves
Salary Recovery Fund
Fundraising reserve
2008 2007
$ $
800,000 800,000
1,211,763 1,085,035
- 373,155
2,011,763 2,258,190
Investments revaluation reserve (note 16)
2008
Fundraising
Reserve (i) Salary
Recovery
Fund Total
$ $ $
Balance at beginning of financial year
Transfer to retained earnings
Balance at end of financial year
2007
1,085,035 800,000 1,885,035
126,728 - 126,728
1,211,763 800,000 2,011,763
Fundraising
Reserve (i) Salary
Recovery
Fund Total
$ $ $
Balance at beginning of financial year 969,655 1,873,427 2,843,082
Transfer from retained earnings 115,380 (1,073,427) (958,047)
Balance at end of financial year 1,085,035 800,000 1,885,035
(i) Further notes on fundraising are set out in Note 23
16. Investments revaluation reserve
Balance at beginning of financial year
Cumulative unrealised loss transferred to the income statement
Valuation (loss)/gain recognised on impairment of financial assets
Balance at end of financial year
2008 2007
$ $
373,155 512,945
1,486,422 -
(1,859,577) (139,790)
- 373,155
The investments revaluation 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.
Continues...
113th Annual Report 2008
33