Parks Victoria - Annual Report 2009-10

NOTES TO THE FINANCIAL STATEMENTSFor The Financial Year Ended 30 June 201023 Deferred Revenue2010$’0002009$’000(a) Deferred Revenue – CurrentOpening Balance 39,986 31,757Movement in Deferred Revenue – Current:Revenue recognised during the year (53,748) (48,833)Payments received in advance for works to be carried out within 12 months,89,985 57,061with the amounts to be refunded if not undertaken.Net movement in Deferred Revenue – Current 36,237 8,229Total Deferred Revenue – Current 76,223 39,986(b) Deferred Revenue – Non–CurrentOpening Balance 1,085 1,306Movement in Deferred Revenue – Non-Current:Revenue recognised during the year. (280) (221)Net movement in Deferred Revenue – Non-Current (280) (221)Total Deferred Revenue – Non-Current 805 1,085Total Deferred Revenue 77,028 41,07124 Physical asset revaluation surplusMovement in Physical Asset Revaluation SurplusOpening Balance 901,818 901,818Revaluation of Parks Victoria Assets:Crown Land, Land and Land Improvements – –Buildings and Building Improvements – –Net Revaluation Increment on Parks Victoria Assets – –Total physical asset revaluation surplus 901,818 901,818Parks Victoria - Annual Report 2009-10 83