Parks Victoria - Annual Report 2009-10

FINANCIAL REPORTNOTES TO THE FINANCIAL STATEMENTSFor The Financial Year Ended 30 June 201025 Contributed Capital2010$’0002009$’000Opening Balance 334,465 328,784Cash transferred – DSE (1) 10,788 5,681Yarra Bend Park Trust net assets transferred (2) 242,413 –Total Contributed Capital 587,667 334,465(1) The cash transferred for Bikes and Trails for a Liveable City Initiative, Urban parks and Trails initiative,Bays and Maritime Initiative, Great Parks for a Liveable City Initiative, Piers and Jetties Initiative, VisitorManagement System, Asset Replacement and Renewal and Frankston Reservoir.(2) Parks Victoria were appointed as Committee of Management over the Yarra Bend Park commencing 17December 2009, and all assets and liabilities transfer from the Yarra Bend Park Trust by way of an AllocationStatement to Parks Victoria as follows : Cash and Deposits $812k, Receivables $87k, Property, Plant andEquipment $241,798k, Payables ($256k) and Reveniue received in advance ($28K).A Management Arrangements Review commissioned by the Department of Sustainability and Environmenton behalf of the responsible Minister, recommended the Government transfer the management of YarraBend Park from the Yarra Bend Park Trust to Parks Victoria.The changes in management arrangements will ensure the future of the Park is sustained long term throughimproved access to the State’s resources and expertise, as is the case with other Melbourne parks.The transfer comprised of Cash and Deposits, Receivables, Property, Plant and Equipment, Payables andRevenue received in advance.84 Parks Victoria - Annual Report 2009-10