KU Annual Report 2009 | Page 23

KU Financial Report

Statement of Changes in Equity

for the Financial Year Ended 31 December 2009
Retained Earnings
$
Salary Recovery Fund
$
Fundraising Reserve
$
Investment revaluation reserve $
Total
$
Balance at 1 January 2008
10,403,915
800,000
1,085,035
373,155
12,662,105
Deficit for the year
( 2,929,294 )
-
-
-
( 2,929,294 )
Transfer ( from ) / to retained earnings
( 126,728 )
-
126,728
-
-
Valuation loss on recognised on impairment of financial asset
-
-
-
( 1,859,577 )
( 1,859,577 )
Cumulative unrealised loss transferred to income statement
-
-
-
1,486,122
1,486,122
Balance at 31 December 2008
7,347,893
800,000
1,211,763
-
9,359,656
Balance at 1 January 2009
7,347,893
800,000
1,211,763
-
9,359,656
Deficit for the year
( 48,086 )
-
-
-
( 48,086 )
Net transfers ( from ) / to retained earnings
768,311
( 800,000 )
31,689
-
-
Valuation gain recognised
-
-
-
1,049,451
1,049,451
Balance at 31 December 2009
8,068,118
-
1,243,452
1,049,451
10,361,021

Statement of Cash Flows for the financial year ended 31 December 2009

Note 2009 $
Cash flows from operating activities Receipts from customers , government bodies and centres
74,506,668
73,767,929
Receipts from Government brokered programs
52,546,466
1,222,337
Total receipts
127,053,134
74,990,266
Payments to suppliers and employees
( 80,969,748 )
( 70,138,753 )
Allocations to recipients of brokered programs
( 31,893,298 )
( 994,700 )
Total Payments
( 112,863,046 )
( 71,133,453 )
Net cash provided by operating activities
22 ( a )
14,190,088
3,856,813
Cash flows from investing activities Payment for property , plant and equipment
( 3,043,969 )
( 2,206,824 )
Interest received
162,160
394,234
Dividends
138,931
-
Proceeds from sale of property , plant and equipment
13,090
-
Net cash used in investing activities
( 2,729,788 )
( 1,812,590 )
Net increase in cash and cash equivalents
11,460,300
2,044,223
Cash and cash equivalents at the beginning of the financial year
16,148,516
14,104,293
Cash and cash equivalents at the end of the financial year
22 ( b )
27,608,816
16,148,516
2008 $
114th Annual Report 2009 23