2011
$
2010
$
19. Notes to the Cash Flow Statement
(a) Reconciliation of Surplus for the period to Net Cash Flows From Operating Activities
Surplus for the period 2,055,973 291,793
Depreciation and amortisation of non-current assets
Loss/ (Gain) on sale of non-current assets
Unrealised Loss on investments
Dividends received
Interest received 703,248
(19,490)
-
(586,899)
(115,217) 648,088
14,164
-
(376,134)
(136,331)
Changes in net assets and liabilities:
Decrease / (Increase) in current receivables and other assets
(Decrease) / Increase in current payables and other liabilities
Increase in provisions (2,296,526)
(4,272,852)
258,916 362,490
(9,583,212)
1,133,524
Net cash from operating activities (4,272,847) (7,645,618)
10,872,656 16,627,388
(b) Reconciliation of Cash and Cash Equivalents
For the purposes of the cash flow statement, cash and cash equivalents
include cash at bank and on hand. Cash and cash equivalents at the end
of the financial year as shown in the cash flow statement is reconciled to
the related items in the balance sheet as follows:
Cash and cash equivalents
Cash includes $4,289,237 (2010: $11,235,604) which is held for
disbursement in accordance with government funding agreements,
including to organisations other than KU.
20. Reclassifications and Prior Period Adjustments
a) Leasehold improvements:
During the previous financial year, leasehold improvements of $1,470,138 were expensed to the statement
of comprehensive income. These costs are now recognised in the statement of financial position as leasehold
improvements and included in property plant and equipment. The adjustment has the effect of increasing the
2010 surplus by $1,470,138 and increasing property plant and equipment by $1,470,138.
b) Child Care Centres:
During the previous financial year, the gross income and expenditure in respect of certain centres were not
disclosed on a gross basis. This adjustment has the effect of increasing revenue by $716,909 and increasing
expenses by $716,909.
These errors have been corrected by restating each of the affected financial statement line items in the
statement of financial position in the previous year.
Continues...
116th Annual Report 2011
37