Fin stats 2006 - LGRCEU

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					 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                            CONSOLIDATED INCOME STATEMENT



                                                                            YEAR ENDED 31 DECEMBER
                                                                              2006           2005

       Revenue

             Members' subscriptions                                             432,337       393,890
             Rental income                                                        4,909          2,272
             Other income                                                             0        (1,604)
                                         Total revenue                          437,246      394,558

       Expense

             Audit and accountancy fees                                           7,743         9,500
             Interest                                                            61,339        57,237
             Depreciation                                                         2,900         4,019
             Employee costs                                                     266,398       249,675
             Legal fees                                                          11,185         8,243
             Other expenses from ordinary activities                             81,411        78,135
                                         Total expenses                         430,976       406,809

       (SURPLUS) LOSS FOR THE YEAR                                              $(6,270)      $12,251



       The accompanying notes form part of these financial statements.




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Page No. 1   Finstats                                                                                    9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                                CONSOLIDATED BALANCE SHEET

                                                    AT 31 DECEMBER 2006



                                                                           Note   2006           2005

       ASSETS

       CURRENT ASSETS
              Cash at bank                                                            3,397          3,497
              Trade and other receivables                                   4        49,415         37,186
          TOTAL CURRENT ASSETS                                                       52,812         40,683

       NON-CURRENT ASSETS
               Property, furniture and equipment                            6      1,487,312      1,030,212
           TOTAL NON-CURRENT ASSETS
                                                                                   1,487,312      1,030,212

       TOTAL ASSETS                                                                1,540,124      1,070,895

       CURRENT LIABILITIES
              Bank overdraft                                                         73,531         74,653
              Other interest - bearing liabilities                          7       464,469        480,445
              Trade and other payables                                              169,045        304,601
              Amounts owing to or on behalf of employees                    5       420,890        242,988

             TOTAL CURRENT LIABILITIES                                             1,127,935      1,102,687

       NON-CURRENT LIABILITIES
               Amounts owing to or on behalf of employees payable beyond
               one year                                                     5            2,806      25,095
           TOTAL NON-CURRENT LIABILITIES                                                 2,806      25,095

       TOTAL LIABILITIES                                                           1,130,741      1,127,782

       NET ASSETS (DEFICIENCY)                                                     $409,383       ($56,887)



       EQUITY

                 Asset revaluation reserve                                  8      1,267,934        807,934
                 Deduct, accumulated (losses)                                      (858,551)      (864,821)

                 TOTAL EQUITY (DEFICIENCY)                                         $409,383       ($56,887)

       The accompanying notes form part of these financial statements.




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Page No. 2   Finstats                                                                                         9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                   CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

                                         FOR THE YEAR ENDED 31 DECEMBER 2006



                                                                                           Asset
                                                                                                         Accumulated
                                                                                 Note   revaluation
                                                                                                            losses
                                                                                          reserve

       Balance at 31 December 2005                                                          (807,934)          864,821

                 Loss (Surplus) for the year ended 31 December 2006                                             (6,270)

                 Increment arising from revaluation of Charles Street property on 3
                 November 2006                                                              (430,000)
                 Increment arising from revaluation of Denmark property on 1
                 December 2006                                                                (30,000)

       Balance at 31 December 2006                                                        ($1,267,934)        $858,551




                                   CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

                                         FOR THE YEAR ENDED 31 DECEMBER 2005



                                                                                           Asset
                                                                                                         Accumulated
                                                                                 Note   revaluation
                                                                                                            losses
                                                                                          reserve

       Balance at 31 December 2004                                                          (621,934)          852,570

                 Loss for the year ended 31 December 2005                                                       12,251


                 Increment arising from adjustment of carrying value of
                 Denmark freehold land and buildings to independent sworn
                 valuation dated 4 July 2005                                                (186,000)

       Balance at 31 December 2005                                                         ($807,934)         $864,821

       The accompanying notes form part of these financial statements.




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Page No. 3   Finstats                                                                                                     9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                             CONSOLIDATED CASHFLOW STATEMENT

                                            FOR THE YEAR ENDED 31 DECEMBER 2006



                                                                         Note     2006           2005

       CASHFLOW FROM OPERATING ACTIVITIES

             Operating revenue                                                       409,550        396,766
             Payments to suppliers and employees                                   (298,726)      (332,845)

       Net cash provided by (used in) operating activities                          110,824         63,921

       CASHFLOW FROM INVESTING ACTIVITIES

             Purchase of property, furniture and equipment                                  0      (21,820)

       Net cash provided by (used in) investing activities                                  0      (21,820)

       CASHFLOW FROM FINANCING ACTIVITIES

             Repayment of borrowings                                                (48,283)       (14,873)
             Interest and borrowing charges                                         (61,339)       (57,237)

       Net cash provided by (used in) financing activities                         (109,622)       (72,110)

       NET INCREASE (DECREASE) IN CASH RESOURCES                                         1,202     (30,009)

       Net overdraft at beginning of financial year                                 (71,156)       (41,147)
       Net overdraft at end of financial year                                 5     (70,134)       (71,156)
       Decrease (Increase) in net overdraft facility                                   1,022       (30,009)

       Net overdraft comprises
            Bank overdraft                                                          (73,531)       (74,653)
            Deduct, cash at bank                                                       3,397          3,497
                                                                                   ($70,134)      ($71,156)

       The accompanying notes form part of these financial statements




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Page No. 4   Finstats                                                                                         9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                   NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS



       NOTE 1: - PRESENTATION OF ONLY CONSOLIDATED FINANCIAL STATEMENTS


             All membership application forms for both Unions, include the following clause which has been copied from an
             application to join the WA Shire Councils, Municipal Road Boards, Health Boards, Parks, Cemeteries and
             Racecourses, Public Authorities Water Boards Union (WA Division): -

                  "I …(name) … hereby apply to be admitted as a member of the WA Shire Councils, Municipal Road
                  Boards, Health Boards, Parks, Cemeteries and Racecourses, Public Authorities Water Boards Union (WA
                  Division) an organisation registered under the Workplace Relations Act, 1996 as amended, and to be
                  admitted as a member of the Western Australian Municipal Road Boards, Parks and Racecourse Employee
                  Union of Workers. Perth, an organisation registered under the WA industrial Relations Act 1979 (as
                  amended), I pledge myself to the abovementioned organisations."


             It follows that each member of either Union, is a full member of the other Union and is therefore entitled to
             receive from each Union, a report on the affairs of each Union. Such a report would include from each Union, a
             separate statement on the affairs of each Union and consolidated financial statements, showing the affairs of
             both Unions as a consolidated separate reporting entity. Pursuant to the foregoing clause in the application form
             for each Union, with minor exceptions, the information provided by each Union to its members, will be identical.

       For this reason,
             Income received from members of either Union, is accounted for globally, with no attempt being made to account
             for income received from members of either Union, as income belonging exclusively to that Union. Similarly,
       a.
             operating expenses are accounted for globally, with no attempt being made to allocate such expenditure to either
             Union.

             The accounting procedures adopted in the recording and maintenance of the day to day transactions of both
       b.    Unions are such that it is not possible to identify or reconstruct from any individual transaction in the accounting
             records, the identity of the separate Union to which the transaction belongs.

             Under these circumstances, the only meaningful alternative available to the Unions, has been to prepare
             consolidated financial reports showing the information available from the accounting records, covering the
       c.
             combined operations of both Unions. This accounting policy is consistent with prior years and has been
             consistently applied.
       d.    The consolidated financial statements therefore cover both Unions reporting as a single economic entity.


       Contracts and all legal documents are, without exception, entered into using only the registered name of the Union
       concerned.


       NOTE 2 - CHANGES IN ACCOUNTING POLICIES

       a.    Membership income
             In prior years, membership fees were accounted for on a cash-received basis. Therefore, at 31 December 2005
             and prior years, no adjustment was made for membership fees receivable in respect of the year ended on that
             date but not received until after that date.

             In the year ended 31 December 2006, this policy was changed and membership fees were accounted for on an
             accruals basis for the first time. Therefore, at 31 December 2006, membership fees recoverable in respect of the
             year ended on that date but not received until after that date, were brought to account as income of the year
             ended 31 December 2006.




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Page No. 5   Finstats                                                                                                               9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth




                                    NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS



       NOTE 2 - CHANGES IN ACCOUNTING POLICIES (Continued)


             As a result of this change, membership fees income for the year ended 31 December 2006 and receivables at
             that date were $22,787 higher than it would have been if the previous accounting policy had been continued.


       b.    Employee superannuation
             In March 2010, it was resolved to pay interest on all arrears of superannuation payments for current employees
             and to reflect this change in the financial statements for the year ended 31 December 2006 and subsequent
             years. As a result of this decision, $11,190 was charged against the results of the year ended 31 December
             2006, of which $7,635 related to prior years.


       NOTE 3: - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

        a.   Basis of Preparation
             Except where stated, the accounting procedures and policies set out in these notes, are consistent with the
             accounting procedures and policies used in prior years in the day to day activities of the Unions and in preparing
             financial statements.
        b. Recognition of income from membership fees

             As stated in Note 2 above, in the year ended 31 December 2006, membership fees were accounted for on an
             accruals basis for the first time. Therefore, at 31 December 2006, membership fees recoverable in respect of the
             year ended on that date but not received until after that date, were brought to account as income of the year
             ended 31 December 2006.

        c.   Income tax
             No provision for income tax is necessary for either Union because both are exempt from income tax under
             section 23(f) of the Income Tax Assessment Act. Tax effect accounting is therefore neither applicable nor
             applied in the preparation of these financial statements.
        d. Property, furniture and equipment
             The Executive Committee obtains sworn valuations of freehold properties every three to five years and adjusts
             the book values of the relevant properties to agree with the sworn valuations.
             Furniture and equipment is carried at cost less accumulated depreciation.

             The carrying amount of furniture and equipment is reviewed annually by the Executive Committee to ensure it is
             not in excess of the expected net proceeds receivable from the asset's disposal at the end of its useful life.

        e.   Depreciation
             The Executive Committee believes that, as freehold properties are adjusted to values determined by sworn
             valuations from time to time, there is no need to provide for depreciation of the structures erected on those
             properties.
             Items of furniture and equipment are depreciated at ten percent per annum on a straight line basis over their
             useful lives commencing from the time the asset is held ready for use. The assets' residual values and useful
             lives are reviewed, and adjusted if appropriate, at each balance date. An asset's carrying amount is written down
             to its recoverable amount if its carrying amount is greater than the higher of the asset's fair value less costs to
             sell and value in use, compared to the asset's carrying value. Realised gains and losses on disposals are
             included in the income statement.




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Page No. 6   Finstats                                                                                                              9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                   NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS



       NOTE 3: - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

        f.   Employee benefits
             Provision is made in accordance with the Workplace Relations Act 1996, for the organisations' liability for
             accrued employee benefits owing as at 31 December 2006 arising from services rendered by employees to that
             date.
             Long service leave is provided for in respect of employees with more than three years of service.
        g. Provisions

             Provisions are established when the Unions have a legal or constructive obligation, as a result of past events, for
             which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

        h. Borrowing costs
             Borrowing costs are recognised in full in the income statement in the period in which they are incurred.
        i.   Goods and services tax (GST)
             Revenues, expenses and assets are recognised net of GST, except where the amount of GST incurred is not
             recoverable from the Australian Taxation Office. In these circumstances, the GST is recognised as part of the
             cost of the asset or the expense. Receivables and payables in the balance sheet are shown exclusive of GST.

        j.   Comparative figures

             Comparative figures have been adjusted to conform to changes in presentation for the current financial year.

        k.   Critical accounting estimates and judgments
             The Executive Council evaluates estimates and judgments incorporated into the financial report based on
             historical knowledge and best available current information. Estimates assume a reasonable expectation of
             future events based on current trends and economic data.

       NOTE 4: - TRADE AND OTHER RECEIVABLES                                         Note       2006                2005

             Potential amount to be offset against a possible future claim against
             liabilities included in trade and other creditors                        5              18,595              18,595
             Other items receivable                                                  2a.             30,818               9,366
                                                                                                    $49,413             $27,961

             The amount of $18,595 includes an amount of $6,595, being the written down value of vehicles and furniture
             unaccounted for in February 2005.
             In addition to the amount of $18,595 shown above, the Unions have an additional substantial portfolio of
             evidence to put forward as counter-claims in the event of any possible future claim becoming a reality. Part of
             this evidence relates to an amount of $26,309 written off in the year ended 31 December 2004 and described in
             the financial statements of that year as " Unidentified expenses". The amounts arose from cheques drawn during
             the year for which no subsequent accounting or explanations were received.




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Page No. 7   Finstats                                                                                                              9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                    NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS



       NOTE 5: - AMOUNTS OWING TO OR ON BEHALF OF CURRENT EMPLOYEES

                                                                                   Note   2006           2005

             Current liabilities
                  Salaries owing from February 2005                                          32,770         33,000
                  Unpaid expense claims                                                       5,374
                  Entitlements for
                      Annual leave, including leave loading                                  39,083         46,572
                      Sick leave                                                             77,394         72,842
                      Long service leave                                                     42,374         12,132
                      Superannuation                                               2b.       78,073         92,113
                                     Total current liabilities                              275,068        256,659
             Non-current liabilities

                   Entitlements for long service leave                                           2,806           0
                                   Total non-current liabilities                                 2,806           0

             Total owing to current employees at 31 December 2006                          $277,874       $256,659

       NOTE 6: - PROPERTY, FURNITURE AND EQUIPMENT

             Freehold land and buildings at independent sworn valuation dated 4
             July 2005                                                                                     670,000
             Freehold land and buildings at independent sworn valuation dated
             10 July 2003                                                                                  340,000
             Freehold land and buildings at independent sworn valuation dated 3
             November 2006                                                                 1,100,000
             Freehold land and buildings at independent sworn valuation dated 1
             December 2006                                                                  370,000

             Furniture and equipment at cost                                                 21,820         21,820
             Less, accumulated depreciation                                                  (4,508)        (1,608)
       Total property, furniture and equipment                                            $1,487,312     $1,030,212

       Movements in the carrying amounts for each class of asset between
       the beginning and the end of the financial year:

       Freehold land and buildings
             Carrying amount at the beginning of the year                                  1,010,000       929,566
                   Increment arising from revaluation of the Denmark property on
                   4 July 2005                                                                              80,434
                  Increment arising from adoption of sworn valuation of Charles
                                                                                            430,000
                  St property dated 3 November 2006
                  Increment arising from adoption of sworn valuation of
                                                                                             30,000
                  Denmark property dated 1 December 2006
             Carrying amount at the end of the year                                       $1,470,000     $1,010,000




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Page No. 8   Finstats                                                                                                 9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                   NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS



       NOTE 6: - PROPERTY, FURNITURE AND EQUIPMENT (Continued)


       Furniture and equipment
             Carrying amount at the beginning of the year                                   20,212          400
                  Additions                                                                      0       16,209
                  Transfer to prepaid expenses of the written down value of
                  furniture and equipment missing in February 2005                   4                      320
                  Depreciation expense                                                      (2,900)           0
             Carrying amount at the end of the year                                        $17,312      $16,929

       Total property, furniture and equipment                                           $1,487,312   $1,026,929

       Title to one property

             The title to the Denmark property is registered in the name of the
             Australian Municipal, Administrative, Clerical and Services Union.
             This organisation has been ordered by the Federal Court, pursuant
             to its Order No. W108 issued on 14 November 2002, to lodge a
             Transfer of Land in our favour. At the date of preparation of these
             financial statements, this transfer has not been effected. The matter
             is being handled by the Unions' solicitors.


       NOTE 7: - OTHER INTEREST BEARING LIABILITIES

             Third party loans                                                             390,000      392,334
             Debt owing to Australian Taxation Office (ATO)                                 74,469       88,111
                                                                                          $464,469     $480,445

       Movements in the debt owing to the ATO
             Balance brought forward from 31 December 2004, comprising the
             unpaid balance of the following charges, which arose in the years
             ended 31 December 2000 to 2004 inclusive:
                  Unpaid goods and services tax                                                        (151,502)
                  Unpaid employees' PAYG tax deductions                                                (336,076)
                  Interest charged by the ATO                                                           (42,918)
                                                                                                       (530,496)
                  Deduct, debt repayments                                                                444,061
             Balance owing at 1 January 2006 (Carried forward)                             (88,111)     (86,435)




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Page No. 9   Finstats                                                                                              9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                    NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS



       NOTE 7: - INTEREST BEARING LIABILITIES (continued)                            2006         2005

       Movements in the debt owing to the ATO
           Balance owing at 1 January 2006 (Bought forward)                            (88,111)     (86,435)
           Add, charges in the year ended 31 December 2005
            Net unpaid goods and services tax
                Current year                                                                         (4,681)
                Prior year                                                                           (4,813)
            Net unpaid employees' PAYG tax deductions
                Current year                                                                         (4,514)
                Prior year                                                                           (3,816)
            Interest charged by the ATO
                Current year                                                           (10,358)     (13,231)
                                                                                       (98,469)    (117,490)

              Deduct, debt repayments during the year                                    24,000       29,379
              Balance owing at 31 December 2005                                       $(74,469)    $(88,111)

              Since February 2005, amounts owing to the ATO for goods and
              services tax and employees' PAYG tax instalments, have been
              settled by regular monthly payments. Accordingly, the total of these
              charges and payments have been offset and excluded from the
              above figures.

       NOTE 8: ASSET REVALUATION RESERVE

       The Asset Revaluation Reserve records unrealised increments and
       decrements arising from differences between sworn valuations of
       freehold properties from time to time, and the book values of the
       properties as at the date of valuation.

              Balance at the beginning of the year                                     807,934      621,934
                   Increment arising from adoption of sworn valuation of Charles
                                                                                                    186,000
                   St property dated 4 July 2005
                   Increment arising from adoption of sworn valuation of Charles
                                                                                       430,000
                   St property dated 3 November 2006
                   Increment arising from adoption of sworn valuation of
                                                                                        30,000
                   Denmark property dated 1 December 2006
              Balance at the end of the year                                         $1,267,934    $807,934

       NOTE 9: - KEY MANAGEMENT PERSONNEL

              Key Management Personnel - Executive Council members
                   Federal secretary - Andrew Johnson
                   Federal assistant secretary - Andrea Ballantyne
                   federal president - David James
                   Federal treasurer - Stuart Barron
                   Federal vice president - Dean Stephens
                   Federal union trustees - Vacant positions




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Page No. 10     Finstats                                                                                       9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                     NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS



       NOTE 11: - SEGMENT REPORTING

              Both Unions operate predominantly in one business and geographical segment being the industrial relations
              sector, providing services to members of their organisations throughout Western Australia.
              The Federal entity is registered in Australia under the Workplace Relations Act 2006.
              The State entity is registered under the Western Australian Industrial Relations Act 1979.


       NOTE 12: - FINANCIAL INSTRUMENTS

              Credit Risk
              Neither Union has any material credit risk exposure to any single debtor or group of debtors under financial
              instruments entered into by either Union.
              Net Fair Values
              The net fair value of assets and liabilities approximates their carrying value.

       NOTE 13: - ORGANISATION DETAILS

              The registered office and principal place of business of both Unions, is
                                            112 Charles St
                                      WEST PERTH WA 6005

       NOTE 14: - USE OF "LGRCEU" IN UNION ACTIVITIES

              These initials stand for "Local Government, Racecourses and Cemeteries Employees' Union", which the
        a.    Executive Committee believes, is a generic description of the activities of either or both of the Unions, the
              consolidated financial statements of which are included in this document.
              The initials LGRCEU are used extensively in the day to day activities including stationery used by either or both
        b.
              Unions , in situations where;
              (i) the matter under consideration can have equal application to either or both Unions or, when part of the
              matter pertains to only one Union, that Entity and the application of that part of the matter to that Union, is clearly
              identified, and/or
              (ii) the matter being dealt with, will have application to only one of the Unions but which Union is not yet
              determined.
              Neither the initials "LGRCEU" nor the name "Local Government, Racecourses and Cemeteries Employees'
        c. Union" are registered under the Business Names Act 1962 of Western Australia.


       NOTE 15: - PRESCRIBED INFORMATION NOTICE


       The following section 272 of the Workplace Relations Act 1996 RAO Schedule is brought to the attention of members:


                   A member of a reporting unit, or a Registrar, may apply to the reporting unit for specified prescribed
               1
                   information in relation to the reporting unit to be made available to the person making the application;

                   The application must be in writing and must specify the period within which, and the manner in which, the
               2   information is to be made available. The period must not be less than 14 days after the application is given
                   to the reporting unit; and
               3   A reporting unit must comply with an application made under subsection 1.




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Page No. 11     Finstats                                                                                                                9/3/2011
 WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES AND RACECOURSES,
                       PUBLIC AUTHORITIES WATER BOARDS UNION WA Division
WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE, EMPLOYEES' UNION OF WORKERS
                                             Perth



                                        DETAILED CONSOLIDATED INCOME STATEMENT



                                                                                 2006          2005

       Income

                  Members' subscriptions                                           432,337       393,890
                  Rent received                                                         4909       2272
                  Other income                                                                       604

       Total income from ordinary activities                                       437,246       396,766

       Expenditure
                 Wages                                                             242,518       222,173
                 Interest Expense                                                   61,339        57,237
                 Insurance                                                          24,942        21,024
                 Superannuation                                                     23,879        27,501
                 Legal Fees                                                         11,185         8,242
                 Total motor vehicle expenses                                                     11,184
                 Fuel                                                                8,646
                 Bank Fees                                                           8,175            1,816
                 Telephone                                                           8,083            7,915
                 Audit and accountancy                                               7,743            9,500
                 Car hire                                                            6,104
                 Printing, Postage & Stationery                                      4,736        10,030
                 Administration                                                      4,072         2,684
                 Building Expense                                                    3,603        10,957
                 Electricity                                                         3,255         1,829
                 Depreciation                                                        2,900         4,019
                 Office Equip Exp                                                    2,256
                 Vehicle maintenance                                                 1,891
                 Meeting expenses                                                    1,880         1,413
                 Rates and taxes                                                     1,752         9,069
                 Member Expenses                                                     1,237         2,324
                 Travel and accommodation                                              446             0
                 Office requisites                                                     334           100
       Total expenditure on ordinary activities                                    430,976       409,017

       Surplus/(Deficit) attributable to members                                    $6,270      ($12,251)




                                                     NOT FOR RELEASE
                                                   FOR DISCUSSION ONLY
Page No. 12   Finstats                                                                                        9/3/2011
                                       Economic Entity:

WA SHIRE COUNCILS, MUNICIPAL ROAD BOARDS, HEALTH BOARDS, PARKS, CEMETERIES
         AND RACECOURSES, PUBLIC AUTHORITIES WATER BOARDS UNION
                          Western Australian DIVISION

    WESTERN AUSTRALIAN MUNICIPAL ROAD BOARDS, PARKS AND RACECOURSE,
                     EMPLOYEES' UNION OF WORKERS
                                Perth WA



                                    FINANCIAL REPORTS

                                   FOR THE YEAR ENDED

                                     31 DECEMBER 2006




 In these financial statements, for reasons set out in Note 1 to the financial statements, the
                    above entities are referred to collectively, as LGRCEU
                      LGRCEU                                                           LGRCEU
     Statement of source and application of funds                                Statement of cashflow
           Year ended 31 December 2006                                       Year ended 31 December 2006


Loss (Profit) for the year                          (6,270)      Operating revenue                             (432,337)
Non-cash charges                                                 Less, non-cash increase                          22,787
      Depreciation                                   2,900                                                    ($409,550)
      Provision for employee entitlements


                                                    (3,370) Purchase of furniture                                      0
                                                            Creditors @ Dec 06
      Additions to fixed assets                                  Trade and other payables                        169,045
                                                                 Amounts owing to or on behalf of employees      420,890
      Increase in Drs                               12,229       Interest - bearing liabilities                  464,469
      Less non-cash increase to debtors           (22,787)                                                     1,054,404
      Current + non- current liabilities @ 05   (1,127,782) Creditors @ Dec 05
      Current + non- current liabilities @ 06    1,130,741       Trade and other payables                      (304,601)
      Adjusted for non-cash increase in 06
                                                     9,767       Amounts owing to or on behalf of employees    (242,988)
      liabilities
                                                                 Interest - bearing liabilities                (555,098)
                                                     2,168                                                    (1,102,687)
                                                                 Net repayment of borrowings                      48,283
      Difference in cashflow as above                1,202       Interest and borrowing charges                   61,339
                                                                 Payments to suppliers and employees             300,950
      movement in bank                              (1,202)                                                      410,572
                                                         0
                                                              Net cash outflow for the year                       $1,022


Resources at 31 December 2005
      Cash at bank                                   3,497 Net overdraft at beginning of financial year         (71,156)
      Bank overdraft                              (74,653) Net overdraft at end of financial year               (70,134)
                                                  (71,156) Decrease (Increase) in net overdraft facility          $1,022


Resources at 31 December 2006                              Net overdraft comprises
      Cash at bank                                   3,397    Bank overdraft                                    (73,531)
      Bank overdraft                              (73,351)    Deduct, cash at bank                                 3,397
                                                  (69,954)       Bank overdraft                                ($70,134)


(Decrease) Increase in net overdraft facility       (1,202)




C:\Docstoc\Working\pdf\d5d6efc3-7316-4a8e-96ac-39c40fed94fd.xls                      Cashflow 06                    9/3/2011
LGRCEU
Fixed assets schedule
Year ended 31 December 2006

                                                 COST                          PROVISIONS FOR DEPRECIATION

                                 Cost ! Jan Additio Dispo Cost 31 Dec     Provision 1 Rate on Dep'n for
                                    06        ns     sals      06           Jan 06     cost     year


Boardroom table                      400                          400           15     5%          20
Carpet                             1,626                        1,626           81    15%         244
Computer intel                       908                          908           95    25%         227
Copier Aficio 340                  3,091                        3,091          386    15%         464
Executive desk                       320                          320            4     5%          16
Fire escape doors                  1,346                        1,346           17     8%         101
Furniture-small items              4,377                        4,377          657    20%         875
Punch large                          445                          445           16     5%          22
Refrigerator Westinghouse            330                          330           26    10%          33
Telephone system                   8,705                        8,705          290    10%         871

                                  21,548     -        -        21,548        1,587              2,873


Denmark refrigerator                  272                         272            20 10%             27

TOTALS                           $21,820         $0       $0   $21,820      $1,607             $2,900


Accum. Depn in accounts                                         (4,508)
Written down value in accounts                                  17,312

				
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