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Annual Financial Statements for year ended 30 June 2012
55
(b) Reconciliation of Net Surplus Resulting from Operations to Cash Inflows from Operating Activities
Activities
2011-2012
$
2010-2011
$
Net Surplus Resulting from Operations.
17,209,849
12,848,466
Depreciation
24,097,826
23,258,014
Resources received free of charge
(13,003,928)
(7,661,060)
(Gain)/Loss on disposal or revaluation of assets
1,436,240
977,146
Increase long service leave
527,453
167,242
Increase/(Decrease)productivity incentive
29,440
(28,601)
(Decrease)/Increase Western Region Waste Management
Authority liability deficit.
(11,071)
8,642)
Decrease/(Increase) in trade & other receivables
(1,063,488)
(247,411)
Decrease/(Increase) inventory
147,780
39,636
(Decrease)/Increase in trade & other payables
3,777,077
(1,414,786)
Capital subsidies & grants
(1,755,068)
(1,498,260)
Net Cash provided by Operating Activities
31,392,110
26,431,744
(c) Financing Facilities
Use of Facility
2011-2012
$
2010-2011
$
Amount Unused
250,000
250,000
Total
250,000
250,000
Council’s bank overdraft facility is reviewed annually and payable at call.
(d) Non Cash Financing and Investment Activities
Means of Acquisition
2011-2012
$
2010-2011
$
Physical assets received free of charge (Note 12)
13,003,928
7,661,060
Total
13,003,928
7,661,060
28. Joint Ventures
The Parks Community Centre
The Council has an agreement with the State government to manage designated services at the Centre until
30 th September 2013. The incomes and expenditures incurred under the agreement have been consolidated
within the Financial Statements.
Western Region Waste Management Authority
The Western Region Waste Management Authority is a Regional Subsidiary that is incorporated under the
Local Government Act 1999
. The Authority manages the closure of the landfill operation on Garden Island on
behalf of the constituent councils. The constituent councils are: City of West Torrens, City of Charles Sturt, City
of Holdfast Bay and the City of Port Adelaide Enfield. The Council does not have a controlling interest and has
therefore not consolidated the financial results within the Financial Statements. Subject to a Deed of
Agreement, Council provides funds as and when required to meet the cost of the Garden Island site
remediation. A provision is maintained for Council’s share, being 13.77%, of the Authority’s deficiency as
scheduled below:
Change in Provisions for Western Region Waste Management
Authority
2011-2012
$
2010-2011
$
Current
Opening balance July 1
0
0
Increase in provision
0
0
Decrease in provision
0
0
Closing balance June 30
0
0
Deferred
Opening balance July 1
126,619
135,261
Increase in provision
0
0
Decrease in provision
(11,071)
(8,642)
Closing balance June 30
115,548
126,619
Total Provisions
115,548
126,619
Notes to the Financial Statements