Parks Victoria - Annual Report 2009-10

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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 ($28K).A Management Arrangements Review commissioned by the Department of Sustainability and Environmenton behalf of the responsible Minister, recommended the Government transfer the management of YarraBend Park from the Yarra Bend Park Trust to Parks Victoria.The changes in management arrangements will ensure the future of the Park is sustained long term throughimproved access to the State’s resources and expertise, as is the case with other Melbourne parks.The transfer comprised of Cash and Deposits, Receivables, Property, Plant and Equipment, Payables andRevenue received in advance.84 Parks Victoria - Annual Report 2009-10
NOTES TO THE FINANCIAL STATEMENTSFor The Financial Year Ended 30 June 201026 Cash Flow Information2010$’0002009$’000(a) Reconciliation of cash and cash equivalentsTotal cash and cash equivalents disclosed in the balance sheet 36,543 48,593Bank overdraft – –Balance as per cash flow statement 36,543 48,593(b) Non–cash financing and investing activitiesRestructuring of administrative arrangementsTransfer of Assets from – Yarra Bend Park Trust 241,798 –(c) Reconciliation of Net Results for the period to Net cash Flows from Operating ActivitiesNet result for the period (7,726) (1,452)Non–cash movements:Depreciation and Amortisation for the Year 5,815 5,294Provision for doubtful debts 305 (145)Net assets (received) / provided free of charge (70) (132)Loss / (gain) on sale, retirement and / or revaluation of assets 11 45Finance costs – 67Reversal of provision for dismantling (642) –Change in Assets and Liabilities:Decrease / (Increase) in receivables (3,153) (395)Decrease / (Increase) in inventories 4 (29)Decrease / (Increase) in other current assets 100 136Increase / (Decrease) in provisions 3,418 3,075Increase / (Decrease) in payables 1,839 3,455Increase / (Decrease) in deferred revenue 35,958 8,007Net Cash from/(used in) Operating Activities 35,859 17,926(d) Credit Card and Merchant FacilitiesTotal Credit Card Facility 2,000 2,000Total Merchant Facility 370 370Parks Victoria - Annual Report 2009-10 85
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CONTENTSREPORT OF OPERATIONSChairma
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CHIEF EXECUTIVE’S MESSAGEParks Vi
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ABOUT PARKS VICTORIAParks Victoria
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ABOUT PARKS VICTORIATotal meeting a
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ABOUT PARKS VICTORIAThe Year in Rev
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HEALTHY PARKSNew River Red Gum park
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❚ Treating more than 6,000 hectar
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For the first time, Parks Victoria
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HEALTHY PEOPLEQueenscliffHarbour.Im
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HEALTHY PEOPLEParklands to EastLink
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HEALTHY PEOPLECurriculum-based prog
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eakout overset copyHEALTHY PEOPLEco
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HEALTHY PEOPLECULTURAL HERITAGEFor
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HEALTHY PEOPLEPROM’S RICH HISTORY
Page 35 and 36: SUPPORTING HEALTHY PARKS HEALTHY PE
Page 37 and 38: SIGNS OF RECOVERY AT KINGLAKE NATIO
Page 39 and 40: COMMERCIAL OPERATIONSParks Victoria
Page 41 and 42: RESPONSIBLY MANAGING OUR RESOURCESP
Page 43 and 44: Workforce dataEmployee(Headcount)On
Page 45 and 46: Parks Victoria’s services are del
Page 47 and 48: CORPORATE PERFORMANCEIndicator2005-
Page 49 and 50: FINANCIAL PERFORMANCEFive year fina
Page 51 and 52: FINANCIAL REPORTCOMPREHENSIVE OPERA
Page 53 and 54: BALANCE SHEETAs at 30 June 2010Note
Page 55 and 56: CASH FLOW STATEMENTFor The Financia
Page 57 and 58: Note 14Note 15Note 16Note 17Note 18
Page 59 and 60: NOTES TO THE FINANCIAL STATEMENTSFo
Page 79 and 80: Piers, Jetties andRiver Improvement
Page 83: NOTES TO THE FINANCIAL STATEMENTSFo
Page 97 and 98: RISK MANAGEMENT ATTESTATIONRISK MAN
Page 99 and 100: AUDITOR’S REPORTParks Victoria -
Page 101 and 102: NOTESParks Victoria - Annual Report
Page 103 and 104: SIGNS OF RECOVERY - KINGLAKE NATION
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Parks Victoria - Annual Report 2009-10

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