ANNUAL REPORT 2005 - MVCB - Murray Valley Citrus Board

18.
MURRAY VALLEY CITRUS BOARD
NOTES TO AND FORMING PART OF THE ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2005
2005 2004
$ $
RECONCILIATION OF CASH FLOWS
Profit from ordinary activities (175,422) (94,682)
Depreciation 39,807 33,108
(Profit) on sale of assets (522) (2,048)
Changes in Assets and Liabilities
(136,137) (63,622)
(Increase)/Decrease in Receivables 262,842 (140,224)
(Increase)/Decrease in Inventories (21,641) 5,622
Increase/(Decrease) in Payables (17,501) (31,915)
Increase/(Decrease) in Employee Entitlements 15,903 1,689
Net Cash provided by Operating Activities 103,466 (228,450)
19. SUPERANNUATION CONTRIBUTIONS
Fund
No. of
Employees
Contributions Made Contributions
Outstanding
04/05 03/04 04/05 03/04 04/05 03/04
National FlexiSuper Plus 2 2 $25,443 $24,864 $1,949 Nil
Australian Retirement Fund 0 1 Nil $12,174 Nil Nil
Colonial First State Investments 1 1 $22,551 $12,816 $2,061 Nil
Australian Primary 1 1 $4,824 $4,914 $94 Nil
VicSuper 1 1 $59 $144 Nil Nil
Macquarie Investment Management Ltd 1 1 $1,342 $1,340 $111 Nil
Westpac Financial Services 1 1 Nil $215 Nil Nil
IRSF Pty Ltd 1 1 Nil $5,634 Nil Nil
CARE Super 1 1 $2,828 $1,483 $243 Nil
Australian Skandia Limited 1 0 $2,532 Nil $206 Nil
Vision Super 1 0 $193 Nil Nil Nil
General
- Applies to above Superannuation funds.
- At 30 June 2005 there was no unfunded superannuation liability.
- Contributions are paid at the rate of 10% of Gross Normal Earnings for the Field
Manager and as per contracts of employment and at the rate of 9% for the remaining
employees. The remainder of contributions comes from salary sacrifice
arrangements.
- There were no loans to the entity from the Superannuation Scheme.
- Each employee can nominate an approved superannuation fund to contribute their
superannuation.
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