Annual Report - City of Bayswater
Annual Report - City of Bayswater Annual Report - City of Bayswater
Max Tulley Office & Information CentreAnnual financial statementsThe financial statement is a generalpurpose financial statement whichhas been prepared in accordancewith Australian AccountingStandards (as they apply tolocal governments and not-forprofitentities), other mandatoryprofessional reporting requirementsand the Local Government Act 1995(as amended) and accompanyingregulations (as amended).The preparation of a financialreport in conformity with AustralianAccounting Standards requiresmanagement to make judgements,estimates and assumptions thateffect the application of policies andreported amounts of assets andliabilities, income and expenses.The local governmentreporting entityAll funds through which the Councilcontrols resources to carry on itsfunctions have been included in thefinancial statements forming part ofthis financial statement.Principles of consolidationAll entities through which Councilcontrols resources to carry onits operation have been includedin the financial statements. Thisencompasses:• Main entityThe Municipality of the City ofBayswater• ConsolidationThe Municipality of the City ofBayswaterThe City of Bayswater Child CareCentre Association (Inc)Statement of financialpositionThe 2009-10 statement of financialposition results indicates that theCity of Bayswater experienced anincrease in net assets during thefinancial year.Borrowing costs decreased from$3.641 million to $0.409 millionmainly as a result of a reduction inloan liability.Statement of changes inequityThe 2009-10 Equity Statementshows that the City experienced adecrease in reserves (cash backed)of $4.985 million to $8.707 million.Statement ofcomprehensive incomeThe Statement of ComprehensiveIncome for 2009-10 revealed anincrease in operating revenue of$1.974 million and a $1.895 millionincrease in operating expenditure.Grants and contributions for thedevelopment of assets decreasedfrom $12.431 million to $2.117 millionthis is mainly due to a $10 million grantreceived from the CommonwealthGovernment for the multipurposecentre, Maylands.The significant movement inoperations from the previous financialyear which reported a $1.149 millionsurplus to a $11.601 million surplusis mainly attributed to a $9.496million revaluation of the City roadinfrastructures and $1.233 millionincrease in equity movement ofthe joint ventures with the EasternMetropolitan Regional Council (EMRC).Joint ventureThe City of Bayswater is in jointventures with:(a) Homeswest - CommunityHousing ProjectTen (10) Houses• Stage 1 No 2 Haddrill Street(4 Units)• Stage 2 No 28 Francis Street(6 Units)The City has a 25% interest in theproject. Operating costs are fundedby rental receipts. Excess income overexpenditure is retained as a restrictedcash item for future communityhousing projects.28 city of bayswater annual report 2009-10
(b) Eastern Metropolitan Regional CouncilThe City of Bayswater is a participant in the Eastern MetropolitanRegional Council (EMRC).The EMRC comprising six member councils and is primarily concernedwith refuse removal and the provision of other services includingEconomic Development/Tourism Services.Equity 09/10 08/09City of Bayswater $10,338,914 $9,105,568City of Belmont $5,816,483 $5,063,683Town of Bassendean $2,448,370 $2,156,793Shire of Mundaring $6,457,434 $5,661,487City of Swan $18,572,210 $15,976,605Shire of Kalamunda $9,236,067 $8,086,194$52,869,478 $46,050,330The City’s interest in the joint venture calculated by the EMRC auditors asat 30 June 2010 is 19.555% representing its share of the net assets of$10,338,914.The City’s interest in the assets and liabilities of the EMRC is as follows:2010 2009Interest in the joint venture asat 30 June $10,338,914 $9,105,568Represented by share of JointVenture entity’s financialposition:Current Assets $6,067,272 $5,232,818Non - Current Assets $5,704,156 $4,660,256Total Assets $11,771,428 $9,893,074Current Liabilities $1,154,829 $526,918Non - Current Liabilities $277,685 $260,588Total Liabilities $1,432,514 $787,506Net Assets $10,338,914 $9,105,568GrantsThe City received $8.576 million in grants and subsidies.These were used in the following areas:Operating $6,458,761Non-operating $2,117,312$8,576,073General purpose funding $1,812,278Law order and public safety $117,271Health $36,918Education and welfare $5,247,488Community amenities $3,924Recreation and culture $269,622Transport/community amenities $991,031Economic Services $97,541$8,576,073$RatesRecord ServicesThe City received $26.629 million inrates income during 2009-10. Rateswere based on the Gross RentalValue (GRV) of the property asdetermined by the Valuer General’sOffice. Gross rental values in thedistrict as at 30 June 2010 were$422.272 million.Financial managementThe Financial Services Division isresponsible for the overall financialmanagement of the City, includingthe preparation of the annualbudget and its compliance withfinancial statutes.city of bayswater annual report 2009-1029
- Page 3 and 4: ContentsMayor’s Report 2Members o
- Page 5 and 6: Council MembersCouncil Members - Ju
- Page 7 and 8: Maylands Sport and Recreation Club
- Page 10 and 11: Administration &Community ServicesR
- Page 12 and 13: Community ServicesHome and Communit
- Page 14: Gerry Leeuwangh public library, Mor
- Page 17 and 18: Technical ServicesTechnical Service
- Page 19 and 20: Sustainable environmentGobba LakeDu
- Page 21 and 22: Waste transfer station, BayswaterEn
- Page 23 and 24: Waste ManagementThe City’s waste
- Page 25 and 26: Artists impression of the proposed
- Page 27 and 28: Multipurpose centre in Maylands und
- Page 29: Financial ServicesFinancial Service
- Page 33 and 34: Statutory ReportingDisability Acces
- Page 35 and 36: Abridged FinancialStatementsThe fol
- Page 37 and 38: Statement by the Chief Executive Of
- Page 39 and 40: Statement of Changes in Equityfor t
- Page 41 and 42: Grants/Contributionsfor the Develop
- Page 43 and 44: Statement of Cash Flowsfor the year
- Page 45 and 46: Rate Setting Statementfor the year
- Page 48: w w w . b a y s w a t e r . w a . g
(b) Eastern Metropolitan Regional CouncilThe <strong>City</strong> <strong>of</strong> <strong>Bayswater</strong> is a participant in the Eastern MetropolitanRegional Council (EMRC).The EMRC comprising six member councils and is primarily concernedwith refuse removal and the provision <strong>of</strong> other services includingEconomic Development/Tourism Services.Equity 09/10 08/09<strong>City</strong> <strong>of</strong> <strong>Bayswater</strong> $10,338,914 $9,105,568<strong>City</strong> <strong>of</strong> Belmont $5,816,483 $5,063,683Town <strong>of</strong> Bassendean $2,448,370 $2,156,793Shire <strong>of</strong> Mundaring $6,457,434 $5,661,487<strong>City</strong> <strong>of</strong> Swan $18,572,210 $15,976,605Shire <strong>of</strong> Kalamunda $9,236,067 $8,086,194$52,869,478 $46,050,330The <strong>City</strong>’s interest in the joint venture calculated by the EMRC auditors asat 30 June 2010 is 19.555% representing its share <strong>of</strong> the net assets <strong>of</strong>$10,338,914.The <strong>City</strong>’s interest in the assets and liabilities <strong>of</strong> the EMRC is as follows:2010 2009Interest in the joint venture asat 30 June $10,338,914 $9,105,568Represented by share <strong>of</strong> JointVenture entity’s financialposition:Current Assets $6,067,272 $5,232,818Non - Current Assets $5,704,156 $4,660,256Total Assets $11,771,428 $9,893,074Current Liabilities $1,154,829 $526,918Non - Current Liabilities $277,685 $260,588Total Liabilities $1,432,514 $787,506Net Assets $10,338,914 $9,105,568GrantsThe <strong>City</strong> received $8.576 million in grants and subsidies.These were used in the following areas:Operating $6,458,761Non-operating $2,117,312$8,576,073General purpose funding $1,812,278Law order and public safety $117,271Health $36,918Education and welfare $5,247,488Community amenities $3,924Recreation and culture $269,622Transport/community amenities $991,031Economic Services $97,541$8,576,073$RatesRecord ServicesThe <strong>City</strong> received $26.629 million inrates income during 2009-10. Rateswere based on the Gross RentalValue (GRV) <strong>of</strong> the property asdetermined by the Valuer General’sOffice. Gross rental values in thedistrict as at 30 June 2010 were$422.272 million.Financial managementThe Financial Services Division isresponsible for the overall financialmanagement <strong>of</strong> the <strong>City</strong>, includingthe preparation <strong>of</strong> the annualbudget and its compliance withfinancial statutes.city <strong>of</strong> bayswater annual report 2009-1029
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