KU Annual Report 2010 - Page 23

KU Financial Report Statement of Changes in Equity for the Financial Year Ended 31 December 2010 Retained Earnings Salary Recovery Fund Fundraising Reserve Investment revaluation reserve Total $ $ $ $ $ Balance at 1 January 2009 7,347,893 800,000 1,211,763 - 9,359,656 Deficit for the year (48,086) - - - (48,086) Transfer (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 Balance at 1 January 2010 8,068,118 - 1,243,452 1,049,451 10,361,021 Deficit for the year (1,178,344) - - - (1,178,344) Net transfers (from) / to retained earnings (18,127) - 18,127 - - Valuation gain recognised - - - 59,923 59,923 Balance at 31 December 2010 6,871,647 - 1,261,579 1,109,374 9,242,600 Statement of Cash Flows for the financial year ended 31 December 2010 Note 2010 2009 $ $ Cash flows from operating activities Receipts from customers, government bodies and centres 93,404,875 74,506,668 Receipts from Government brokered programs 19,540,721 52,546,466 Total receipts 112,945,596 127,053,134 Payments to suppliers and employees (91,501,395) (80,969,748) Allocations to recipients of brokered programs (30,559,957) (31,893,298) Total Payments (122,061,352) (112,863,046) Net cash (utilised) / provided by operating activities 21(a) (9,115,756) 14,190,088 Cash flows from investing activities Payment for property, plant and equipment (2,410,411) (3,043,969) Interest received 136,331 162,160 Dividends 376,134 138,931 Proceeds from sale of property, plant and equipment 32,274 13,090 Net cash used in investing activities (1,865,672) (2,729,788) Net (decrease) / increase in cash and cash equivalents (10,981,428) 11,460,300 Cash and cash equivalents at the beginning of the financial year 27,608,816 16,148,516 Cash and cash equivalents at the end of the financial year 21(b) 16,627,388 27,608,816 Notes to the financial statements are included on pages 24 to 39. 115th Annual Report 2010 23 KU Financial Report Statement of Changes in Equity for the Financial Year Ended 31 December 2010 Retained Earnings $ Balance at 1 January 2009 Deficit for the year Transfer (from) / to retained earnings Valuation gain recognised Balance at 31 December 2009 Balance at 1 January 2010 Deficit for the year Net transfers (from) / to retained earnings Valuation gain recognised Balance at 31 December 2010 7,347,893 (48,086) 768,311 - 8,068,118 8,068,118 (1,178,344) (18,127) - 6,871,647 Salary Recovery Fund $ Fundraising Reserve $ 800,000 - (800,000) - - - - - - - 1,211,763 - 31,689 - 1,243,452 1,243,452 - 18,127 - 1,261,579 Investment revaluation reserve $ - - - 1,049,451 1,049,451 1,049,451 - - 59,923 1,109,374 Total $ 9,359,656 (48,086) - 1,049,451 10,361,021 10,361,021 (1,178,344) - 59,923 9,242,600 Statement of Cash Flows for the financial year ended 31 December 2010 Note 2010 $ 2009 $ Cash flows from operating activities Receipts from customers, government bodies and centres 93,404,875 74,506,668 Receipts from Government brokered programs 19,540,721 52,546,466 Total receipts 112,945,596 127,053,134 Payments to suppliers and employees (91,501,395) (80,969,748) Allocations to recipients of brokered programs (30,559,957) (31,893,298) (122,061,352) (112,863,046) (9,115,756) 14,190,088 (2,410,411) (3,043,969) Interest received 136,331 162,160 Dividends 376,134 138,931 32,274 13,090 (1,865,672) (10,981,428) (2,729,788) 11,460,300 27,608,816 16,148,516 16,627,388 27,608,816 Total Payments Net cash (utilised) / provided by operating activities 21(a) Cash flows from investing activities Payment for property, plant and equipment Proceeds from sale of property, plant and equipment Net cash us VBfW7Fr7FfFW0WBFV7&V6R7&V6R66B66WVfVG066B66WVfVG2BFR&VvrbFRf6V 66B66WVfVG2BFRVBbFRf6V #"FW2FFRf67FFVVG2&R6VFVBvW2#BF3WFV&W'B##