Annual Report 2009 (PDF 2 MB) - Wellington Institute of Technology

2009 2009 2008Actual Budget Actual$000 $000 $0007.CURRENT INVENTORIESWork in progress - at cost 164 - 28Finished goods - at cost 13 8 5177 8 338.FINANCIAL ASSETS IN THE NATURE OF INVESTMENTSDeposits with banks:FINANCIAL STATEMENTS- ASB (interest rate 8.95%, matured 09/03/09) - - 2,150- Citibank (interest rate 8.85%, matured 09/03/09) - - 2,0009.PROPERTY, PLANT AND EQUIPMENT2009 Actual $000Gross Carrying AmountLand &BuildingsLeaseholdImprovements Equipment HardwareFurniture &FittingsLibraryCollection- - 4,150Assets underConstructionTotalBalance as at 1 January 42,840 8,141 6,911 5,232 1,726 1,105 154 66,109Additions 6,981 77 364 640 202 226 256 8,746Disposals - - (44) (150) - - - (194)Reclassifications 5,087 (4,967) (7) 9 29 3 (154 ) -Net revaluation decrement (5,212) - - - - - - (5,212)Balance as at 31 December 49,696 3,251 7,224 5,731 1,957 1,334 256 69,449Accumulated DepreciationBalance as at 1 January - 4,943 1,573 2,543 1,142 555 - 10,756Depreciation Expense 1,411 790 1,082 1,464 184 212 - 5,143Disposals - - (34) (150) - - - (184)Reclassifications 3,675 (3,675) - - - - - -Net revaluation decrement (5,086) - - - - - - (5,086)Balance as at 31 December - 2,058 2,621 3,857 1,326 767 - 10,629Net Book Value 49,696 1,193 4,603 1,874 631 567 256 58,8202008 Actual $000Land &BuildingsLeaseholdImprovements Equipment HardwareFurniture &FittingsLibraryCollectionAssets underConstructionTotalGross Carrying AmountBalance as at 1 January 35,995 7,609 6,275 3,536 1,170 888 1,133 56,606Additions 3,353 1,374 868 1,772 557 217 154 8,295Disposals - (1,082) (232) (76) (1) - - (1,391)Reclassifications 893 240 - - - - (1,133) -Net revaluation increments 2,599 - - - - - - 2,599Balance as at 31 December 42,840 8,141 6,911 5,232 1,726 1,105 154 66,10940WELLINGTON INSTITUTE OF TECHNOLOGY | 2009 ANNUAL REPORT