Zoological Parks Authority - Parliament of Western Australia - The ...

Zoological Parks Authority ANNUAL REPORT 2012
Disclosures and Legal Compliance
Financial Statements
Zoological Parks Authority
Notes to the Financial Statements for the Year Ended 30 June 2012 continued
33. Explanatory statement continued
(B) Significant variances between actual results for the financial year and prior year actual results
Reasons for significant variations between actual revenue and expenditure and the corresponding item of the preceding year are detailed below.
2011 2012
Actual Actual Variation
$ $ $
Expenses
(i) Loss on disposal of non-current assets 19,188 123,890 (104,702)
The previous year figure included the demolition of building and infrastructure assets in preparation for
capital developments. The current year figure includes the demolition of a minor building and the
disposal of obsolete or unserviceable equipment.
Revenue
(ii) Retail shop sales 1,311,190 1,191,218 119,972
Record admission numbers of 640,642 during the period assisted in increasing retail shop sales.
Retail shop sales declined in the previous year as did admission numbers. There was a 4.7% increase
in admission numbers in 2011-12 and a 10% increase in retail shop sales.
(iii) Other revenue 380,035 238,549 141,486
Due mainly to insurance revenue received in settlement of claims associated with damage sustained
during Perth’s March 2010 hail storm. There were also refunds of expenditure from previous years.
Gains
(iv) Other gains 200,000 – 200,000
The Australian Wetlands exhibit sustained significant structural damage during Perth’s March 2010 hail storm.
In 2009-10 an impairment loss of $200,000 was recognised for this asset. During 2011-12, the damage was
repaired and the exhibit upgraded. The previously recognised impairment loss has now been reversed.
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