KU Annual Report 2010 - Page 33

15. Reserves 2010 $ 2009 $ Fundraising reserve 1,261,579 1,243,452 Investments revaluation reserve (note 16) 1,109,374 1,049,451 2,370,953 2,292,903 2010 Balance at beginning of financial year Transfer to retained earnings Balance at end of financial year 2009 Balance at beginning of financial year Transfer from retained earnings Balance at end of financial year Fundraising Reserve (i) $ Salary Reco very Fund $ 1,243,452 18,127 1,261,579 Fundraising Reserve (i)$ 1,211,763 31,689 1,243,452 - - - Salary Recovery Fund $ 800,000 (800,000) - Total $ 1,243,452 18,127 1,261,579 Total $ 2,011,763 (768,311) 1,243,452 The fundraising reserve arises from the accumulated efforts of parents and staff to allow services to purchase optional toys and equipment, to assist the service to expand and develop to meet local needs and to allow parents to share in the life of the service and to make a concrete contribution to their children’s lives. (i) Further notes on fundraising are set out in Note 23 16. Investments revaluation reserve Balance at beginning of financial year Valuation (loss)/gain Balance at end of financial year 2010 $ 1,049,451 59,923 2009 $ - 1,049,451 1,109,374 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. 115th Annual Report 2010 33