Financial Statements

Statement of Financial Position

As at 30 June 2014

    Council Group
  Note Actual
2014
$000
Budget
2014
$000
Actual
2013
$000
Actual
2014
$000
Actual
2013
$000
ASSETS            
Current assets            
Cash and cash equivalents 10 52,573 2,622 44,389 56,853 50,518
Derivative financial assets 11 - 108 409 - 409
Trade and other receivables 12 37,387 41,658 49,556 39,664 52,047
Other financial assets 13 20,000 - - 20,400 400
Prepayments   11,643 14,211 15,048 11,723 15,233
Inventories 14 969 866 875 1,755 1,901
Non-current assets classified as held for sale 15 1,367 - 272 1,367 272
Total current assets   123,939 59,465 110,549 131,762 120,380
Non-current assets            
Derivative financial assets 11 4,428 949 3,280 4,428 3,280
Trade and other receivables 12 - 12,675 - - -
Other financial assets 13 9,849 8,392 8,369 9,849 8,369
Intangibles 16 16,750 13,900 13,549 16,820 13,588
Investment properties 17 192,901 200,474 205,951 192,901 205,951
Property, plant and equipment 18 6,536,012 6,768,587 6,546,292 6,547,197 6,558,933
Investment in subsidiaries 40 3,809 3,809 3,809 - -
Investment in associates 41 19,504 19,519 19,519 174,631 170,453
Total non-current assets   6,783,253 7,028,305 6,800,769 6,945,826 6,960,974
TOTAL ASSETS   6,907,192 7,087,770 6,911,318 7,077,588 7,081,354
LIABILITIES            
Current liabilities            
Derivative financial liabilities 11 180 469 404 180 404
Trade and other payables 19 57,638 53,217 57,945 60,322 62,352
Revenue in advance 20 12,105 11,889 11,405 13,224 11,892
Borrowings 21 129,371 129,572 155,562 129,375 155,565
Employee benefit liabilities and provisions 22 5,228 6,638 5,698 6,440 6,988
Provision for other liabilities 23 30,781 16,797 34,501 30,781 34,501
Total current liabilities   235,303 218,582 265,515 240,322 271,702
Non-current liabilities            
Deferred tax 9 - - - 1,279 1,427
Derivative financial liabilities 11 4,788 23,812 12,831 4,788 12,831
Trade and other payables 19 630 - 630 630 630
Borrowings 21 289,747 246,063 232,768 289,750 232,775
Employee benefit liabilities and provisions 22 1,207 1,649 1,474 1,288 1,564
Provision for other liabilities 23 35,422 27,288 49,702 35,422 49,702
Total non-current liabilities   331,794 298,812 297,405 333,157 298,929
TOTAL LIABILITIES   567,097 517,394 562,920 573,479 570,631
EQUITY            
Accumulated funds and retained earnings 24 4,953,719 4,985,988 4,922,977 5,005,007 4,970,809
Revaluation reserves 25 1,372,033 1,593,814 1,417,323 1,482,005 1,529,130
Hedging reserve 26 (403) (23,896) (9,955) (403) (9,956)
Fair value through other comprehensive income reserve 27 63 586 93 63 93
Restricted funds 28 14,683 13,884 17,960 17,437 20,647
TOTAL EQUITY   6,340,095 6,570,376 6,348,398 6,504,109 6,510,723
TOTAL EQUITY AND LIABILITIES   6,907,192 7,087,770 6,911,318 7,077,588 7,081,354

The notes on pages 116 to 198 form part of and should be read in conjunction with these financial statements