Financial Statements

Statement of Changes in Equity


For the year ended 30 June 2013

    Council Group
  Note Actual
2013
$000
Budget
2013
$000
Actual
2012
$000
Actual
2013
$000
Actual
2012
$000
             
EQUITY - Opening balances            
Accumulated funds and retained earnings 24 4,897,679 4,870,224 4,819,507 4,943,343 4,890,529
Revaluation reserves 25 1,417,693 1,414,606 1,369,106 1,529,500 1,447,476
Hedging reserve 26 (23,896) (9,173) (9,173) (24,050) (10,399)
Fair value through other comprehensive income reserve 27 154 748 748 154 748
Restricted funds 28 14,701 16,018 16,085 17,301 18,383
             
TOTAL EQUITY - Opening balance   6,306,331 6,292,423 6,196,273 6,466,248 6,346,737
             
CHANGES IN EQUITY            
             
Retained earnings            
Net surplus for the year 24 28,187 37,426 62,186 30,442 49,962
Adjustment for wind-up of St James   - - 14,577 - -
Adjustment - disposal of a subsidiary by an associate 41 - - - - 1,745
Transfer to restricted funds 24 (4,072) (765) (517) (4,639) (1,273)
Transfer from restricted funds 24 813 765 1,901 1,293 2,355
Transfer from revaluation reserves 24 370 - 25 370 25
             
Revaluation reserves            
Fair value movement - property, plant and equipment - net 25 - - 48,612 - 82,049
Transfer to retained earnings 25 (370) - (25) (370) (25)
             
Hedging reserve            
Movement in hedging reserve 26 13,941 - (14,723) 14,094 (13,651)
             
Fair value through other comprehensive income reserve            
Movement in fair value 27 (61) (432) (594) (61) (594)
             
Restricted funds            
Transfer to retained earnings 28 (813) (765) (1,901) (1,293) (2,355)
Transfer from retained earnings 28 4,072 765 517 4,639 1,273
             
Total comprehensive income   42,067 36,994 110,058 44,475 119,511
             
EQUITY - Closing balances            
Accumulated funds and retained earnings 24 4,922,977 4,907,650 4,897,679 4,970,809 4,943,343
Revaluation reserves 25 1,417,323 1,414,606 1,417,693 1,529,130 1,529,500
Hedging reserve 26 (9,955) (9,173) (23,896) (9,956) (24,050)
Fair value through other comprehensive income reserve 27 93 316 154 93 154
Restricted funds 28 17,960 16,018 14,701 20,647 17,301
             
TOTAL EQUITY - Closing balance   6,348,398 6,329,417 6,306,331 6,510,723 6,466,248
             

The notes on pages 110 to 188 form part of and should be read in conjunction with these financial statements.