15. Reserves
2009
$
Salary Recovery Fund
Fundraising reserve
Investments revaluation reserve (note 16)
2009
Balance at beginning of financial year
Transfer to retained earnings
Balance at end of financial year
2008
Balance at beginning of financial year
Transfer to retained earnings
Balance at end of financial year
(i) Further notes on fundraising are set out in Note 24
2008
$
-
1,243,452
1,049,451 800,000
1,486,422
-
2,292,903 2,011,763
Fundraising
Reserve (i)
$
1,211,763
31,689
1,243,452 Salary Recovery
Fund
$
800,000
(800,000)
-
Fundraising
Reserve (i)
$
1,085,035
126,728
1,211,763 Salary Recovery
Fund
$
800,000
-
800,000
Total
$
2,011,763
(768,311)
1,243,452
Total
$
1,885,035
126,728
2,011,763
16. Investments revaluation reserve
2009
$
2008
$
Balance at beginning of financial year
Cumulative unrealised loss transferred to the income statement
Valuation (loss)/gain recognised on impairment of financial assets -
-
1,049,451 373,155
1,486,422
(1,859,577)
Balance at end of financial year 1,049,451 -
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...
114th Annual Report 2009
33