Parks Victoria - Annual Report 2009-10

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FINANCIAL REPORTNOTES TO THE FINANCIAL STATEMENTSFor The Financial Year Ended 30 June 201027 Contingent Liabilities and Contingent Assets2010$’0002009$’000(a) Contingent Liabilities – Other Outstanding ClaimsThere are no material claims against Parks Victoria arising out of various matters connected with itsoperating activities.(b) Contingent AssetsThere are no claims lodged by Parks Victoria arising out of matters connected with its operating activities.28 Commitments(a) Capital CommitmentsValue of commitments for capital expenditure at 30 June 2010 for the supply of works, services and materialsnot provided for in the financial statements:Not Later than One Year 5,974 6,153Later than One Year and Not Later than Five Years – –Later than Five Years – –Total Capital Commitments 5,974 6,153(b) Lease CommitmentsTotal expenditure contracted for at balance date but not provided for in the financial statements in relation to noncancellableoperating leases is as follows:Not Later than One Year 9,823 8,483Later than One Year and Not Later than Five Years 16,927 8,771Later than Five Years 9,426 674Total Non Cancellable Operating Leases 36,176 17,928Leasing arrangementsOperating leases relate to building facilities with lease terms of between three to seven years, with an optionto extend for a further three years. All operating lease contracts contain market review clauses in the eventthat Parks Victoria exercises its option to renew. Parks Victoria does not have an option to purchase theleased asset at the expiry of the lease period.86 Parks Victoria - Annual Report 2009-10
NOTES TO THE FINANCIAL STATEMENTSFor The Financial Year Ended 30 June 201029 SuperannuationParks Victoria contributes, in respect of its employees (including salary sacrifice), to the superannuation schemes as follows:Scheme Type of Scheme Contribution RateAMP Flexible Lifetime Super Accumulation Various 49 26AMP SuperLeader Accumulation Various 13 14ANZ One Answer Super Accumulation Various 52 47Asgard Capital Management Ltd Accumulation Various 59 69Australian Ethical Retail Superannuation Accumulation Various 10 –Australian Government Employee Superannuation Trust Accumulation Various 18 12Australiansuper Pty Ltd Accumulation Various 119 60Barkly Terrace Superannuation Fund SMSF Various 38 –Care Super Accumulation Various 21 22Chris and Helen Rose Superannuation Fund SMSF Various 16 –Colonial First State Accumulation Various 93 85Construction and Building Union Superannuation Fund Accumulation Various 32 19Emergency Services Superannuation Fund Accumulation Various 98 97Emergency Services Superannuation Fund Defined 16% – 17Government Superannuation Office Defined Various 1,681 1,432Government Superannuation Office – Revised Defined 17% – 178Government Superannuation Office – SERBS Defined 13% – 16HESTA Accumulation Various 22 –Host Plus Pty Ltd Accumulation Various 30 22Kerry Tait & Chris Hayward Super Fund SMSF Various 25 –Legal Super Accumulation Various 28 23Macquarie Personal Superannuation Plan Accumulation Various 12 17MC & EB Private Superannuation Fund SMSF Various 24 –Mead Superannuation Fund SMSF Various 39 –MLC Nominees Pty Limited Accumulation Various 10 –MTAA Superannuation Fund Accumulation Various 36 –Navigator Business Super Accumulation Various 17 –Perpetuals Investor Choice Superannuation Fund Accumulation Various 14 19Portfolio Service RF Accumulation Various 64 63PortfolioCare Super Accumulation Various 46 29Private Superannuation Funds Accumulation Various – 221Recruitment Super Accumulation Various 14 16Retail Employees Superannuation Trust Accumulation Various 31 26Solid Rock Superannuation Fund Accumulation Various 19 –Superwrap Accumulation Various – 20The Michelson Superannuation Fund Accumulation Various 27 –The Sally Nowlan Superannuation Fund Accumulation Various 19 –The Select Master Superannuation Fund Accumulation Various 14 62UniSuper Limited Accumulation Various 42 76Vicsuper Pty Ltd Accumulation Various 1,674 1,454Vision Super – Local Authorities Plan Defined 9% – 45Vision Super – Super Saver Accumulation Various 3,816 2,787Vision Super – Transport Scheme Defined Various – 80Vision Super – Water Industry Plan Defined Various – 699Others 97 109Total Contributions to All Funds 8,418 7,8632010$’0002009$’000Parks Victoria - Annual Report 2009-10 87
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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 85: 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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