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

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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 2012 2011 $ $ 28. Provisions Current Employee benefits provision Annual leave (a) 1,126,619 1,128,874 Purchased leave (a) 14,971 3,213 Deferred salary scheme (a) 59,279 29,478 Long service leave (b) 664,561 663,793 1,865,430 1,825,358 Other provisions Employment on-costs (c) 51,343 50,240 1,916,773 1,875,598 Non-Current Employee benefits provision Long service leave (b) 698,095 509,427 698,095 509,427 Other provisions Employment on-costs (c) 19,213 14,021 717,308 523,448 Total current & non-current provisions 2,634,081 2,399,046 (a) Annual, deferred and purchased leave liabilities have been classified as current as there is no unconditional right to defer settlement for at least 12 months after the end of the reporting period. Assessments indicate that actual settlement of the liabilities will occur as follows: Within 12 months of the end of the reporting period 1,074,277 1,031,393 More than 12 months after the end of the reporting period 126,592 130,172 1,200,869 1,161,565 98
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 2012 2011 $ $ 28. Provisions continued (b) Long service leave liabilities have been classified as current where there is no unconditional right to defer settlement for at least 12 months after the end of the reporting period. Assessments indicate that actual settlement of the liabilities will occur as follows: Within 12 months of the end of the reporting period 664,561 663,793 More than 12 months after the end of the reporting period 698,095 509,427 1,362,656 1,173,220 (c) The settlement of annual and long service leave liabilities gives rise to the payment of employment on-costs associated with workers’ compensation insurance. The provision is the present value of expected future payments. The associated expense, apart from the unwinding of the discount (finance cost), is disclosed in note 7 ‘Other employee related expenses’. Movements in Other Provisions Movements in each class of provisions during the financial year, other than employee benefits, are set out below: Employment on-costs provision Carrying amount at start of year 64,261 58,995 Additional provisions recognised 43,276 42,942 Payments/other sacrifices of economic benefits (36,981) (37,676) Carrying amount at end of the year 70,556 64,261 29. Unearned income Current Unearned income consists of: Perth Zoo Memberships 589,214 561,300 Grants and sponsorships 824,307 121,118 Other 74,005 14,772 Total current 1,487,526 697,190 99
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Zoological Parks Authority - Parliament of Western Australia - The ...

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