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Annual Financial Statements for year ended 30 June 2012
46
10. Finance Expenses
Lender
2011-2012
$
2010-2011
$
Interest On Loans:
SA Government Finance Authority
0
11,100
Local Govt. Finance Authority
1,508,047
1,669,397
Total Finance Costs
1,508,047
1,680,497
11. Depreciation Expenses
Expense Item
2011-2012
$
2010-2011
$
Buildings
3,983,670
3,912,896
Plant and equipment
1,578,894
1,510,514
Furniture and fittings
260,022
583,883
Infrastructure
16,558,654
15,695,792
Other assets – Library book stock
1,317,161
1,213,273
Other assets – Waste bins
351,705
341,656
Other assets – Software
47,720
0
Total Depreciation
24,097,826
23,258,014
12. Physical Resources Received Free of Charge
Resource
2011-2012
$
2010-2011
$
Traffic control
87,681
87,182
Roadways
5,490,659
2,732,533
Footways
1,857,174
898,982
Stormwater drainage
3,854,726
3,017,840
Kerb & water table
1,713,688
924,523
total
13,003,928
7,661,060
13. Current Assets – Cash & Cash Equivalents
Nature of Account
2011-2012
$
2010-2011
$
Cash on hand
15,410
15,410
Cash at bank
4,271,232
1,742,301
Deposits with banks
12,692,387
19,981,208
Deposits with Local Govt. Fin. Auth
22,241,579
10,364,900
Total
39,220,608
32,103,819
14. Current Assets – Trade & Other Receivables
Nature of Debtor
2011-2012
$
2010-2011
$
Rates receivable
2,500,842
2,085,637
GST recoupment
337,403
544,784
Fuel Tax claimable
5,089
8,826
Prepayments
792,092
15,530
Other debtors
1,493,467
1,419,075
Less
: provision for doubtful debts (see below)
(119,377)
(127,824)
Total
5,009,516
3,946,028
Trade and other receivables are considered impaired where there is significant doubt that the carrying amount
is recoverable. The debts are considered doubtful as the present value of expected future proceeds are zero.
Notes to the Financial Statements