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Notes to the Financial Statements for the year ended 30 June 2005 NOTE 17. PROVISIONS Consolidated Corporation 2005 2004 2005 2004 $’000 $’000 $’000 $’000 Current Dividends 18,100 29,764 18,100 29,764 Employee benefits 45,220 41,462 45,220 41,462 Provision for Merger with Australian Inland (refer note 32) 3,321 - 3,321 - Provision for environmental rectification 4,575 1,910 4,575 1,910 Other provisions 3,990 4,251 3,990 3,751 Total Current Provisions 75,206 77,387 75,206 76,887 Non-Current Employee benefits 107,301 96,761 107,301 96,761 84 Total Non-Current Provisions 107,301 96,761 107,301 96,761 Movement in Provisions (i) Dividends Opening carrying amount 29,764 29,764 Additional provision 18,100 18,100 Amounts utilised during the year (29,764) (29,764) Closing carrying amount 18,100 18,100 (ii) Provision for Merger with Australian Inland Closing carrying amount 3,321 3,321 The provision was recognised for the first time during the year. (iii) Provision for environmental rectification Opening carrying amount 1,910 1,910 Additional provision 2,700 2,700 Amounts utilised during the year (35) (35) Closing carrying amount 4,575 4,575 (iv) Other provisions Opening carrying amount 4,251 3,751 Additional provision 1,690 1,690 Amounts utilised during the year (1,951) (1,451) Closing carrying amount 3,990 3,990 Other provisions reflect liabilities arising in the course of the Corporation’s operating activities. NOTE 18. OTHER LIABILITIES Consolidated Corporation 2005 2004 2005 2004 $’000 $’000 $’000 $’000 Current Deferred interest 584 648 584 648 Other liabilities 1,978 2,924 21 611 Total Current Other liabilities 2,562 3,572 605 1,259 Non-Current Deferred Interest 2,867 3,451 2,867 3,451 Under-funded superannuation liability 2 24 2 24 Other liabilities 1,594 - 1,594 - Total Non-Current Other Liabilities 4,463 3,475 4,463 3,475 COUNTRY ENERGY ANNUAL REPORT 2004–2005
Notes to the Financial Statements for the year ended 30 June 2005 NOTE 19. COMPONENTS OF EQUITY Consolidated Corporation 2005 2004 2005 2004 $’000 $’000 $’000 $’000 Contributed Equity Opening Balance 95,563 95,563 95,563 95,563 Contributed Equity Closing Balance 95,563 95,563 95,563 95,563 Asset Revaluation Reserve Opening balance 347,205 347,205 347,205 347,205 Revaluation increment on land and buildings (refer note 1(h)(ii) ) 14,658 - 14,658 - Asset Revaluation Reserve Closing Balance 361,863 347,205 361,863 347,205 Retained Profits Opening Balance 280,987 232,619 296,413 251,111 85 Movement: Profit from ordinary activities after income tax expense 98,719 78,339 97,036 75,273 Dividends Provided and Paid (18,100) (29,971) (18,100) (29,971) Retained Profits Closing Balance 361,606 280,987 375,349 296,413 The Asset Revaluation Reserve comprises increments and decrements resulting from revaluations of property, plant and equipment. NOTE 20. FINANCE FACILITIES Consolidated Corporation 2005 2004 2005 2004 $’000 $’000 $’000 $’000 At balance date the Corporation had access to the following finance facilities: Bank overdraft 12,000 12,000 12,000 12,000 Lines of credit 313,530 287,930 313,530 287,930 Loans 1,712,000 1,621,000 1,712,000 1,621,000 Total available finance facilities 2,037,530 1,920,930 2,037,530 1,920,930 At balance date the unused amounts of those facilities listed above were: Bank overdraft 12,000 12,000 12,000 12,000 Lines of credit 279,290 119,795 279,290 119,795 Loans 7,692 105,929 7,692 105,929 Total unused finance facilities 298,982 237,724 298,982 237,724 COUNTRY ENERGY ANNUAL REPORT 2004–2005
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Becoming Australia’s leading util
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Priorities in 2004-2005 Country Ene
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A leader in safety 5 COUNTRY ENERGY
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Detailed audit schedules have been
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Workers compensation In addition to
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A successful national retailer 11 C
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Looking inside We recognise that ou
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This resulted in the campuses reduc
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The best network manager 17 COUNTRY
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The table below highlights some exa
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• Large snowfalls in the Snowy Mo
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Vegetation management The managemen
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Information services In addition to
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A responsible environmental manager
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One of the most rewarding aspects o
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Our increasing involvement in proje
Page 33 and 34: Waste management A code of practice
Page 35 and 36: A valued part of the community 35 C
Page 37 and 38: Increased presence Our program of r
Page 39 and 40: Nu 1000 0 2002-2003 2003-2004 2004-
Page 41 and 42: Sponsorship spend $82,424 $125,000
Page 43 and 44: An employer of choice 43 COUNTRY EN
Page 45 and 46: Apprentices by region / operational
Page 47 and 48: Employees also initiated a fundrais
Page 49 and 50: Employee assistance program Country
Page 51 and 52: Our Executive Craig Murray - Managi
Page 53 and 54: Director Current appointment Board
Page 55 and 56: Risk management Country Energy appr
Page 57 and 58: Executive remuneration At the end o
Page 59 and 60: Consultants A total of $1.3 million
Page 61 and 62: • Electricity Industry Act 2000 N
Page 63 and 64: Financial statements contents Indep
Page 65 and 66: Statement by Members of the Board 6
Page 67 and 68: Statement of Financial Position as
Page 69 and 70: Notes to the Financial Statements f
Page 83: Notes to the Financial Statements f
Page 97 and 98: Customer information The following
Page 99 and 100: Index A Achievements inside cover A
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