KU Annual Report 2012 | Page 35

14 . Fundraising Reserve
2012 2011 $ $
Fundraising reserve 1,195,958 1,192,584
Balance at beginning of financial year 1,192,584 1,261,579 Transfer to general funds 3,374 ( 68,995 ) Balance at end of financial year 1,195,958 1,192,584
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 21
15 . Available-for-Sale Reserve Balance at beginning of financial year
477,759
1,109,374
Valuation gain / ( loss )
611,371
( 631,615 )
Balance at end of financial year
1,089,130
477,759
The Available-for-Sale 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 .
16 . Commitments for Expenditure Operating Leases
Leasing arrangements Operating leases relate to centre facilities and to centre computer equipment . KU does not have an option to purchase the leased assets at the expiry of the lease period .
Non-cancellable operating lease payments Not longer than 1 year
1,122,005
722,418
Longer than 1 year and not longer than 5 years
1,364,390
764,215
Longer than 5 years
194,322
-
2,680,717
1,486,633
Building Commitments
The company received government funding for the building of the Faulconbridge centre . At year end , the company
had a commitment for further capital expenditure of $ 1,053,039 to complete the centre .
Continues ...
117th Annual Report 2012 35