Financial Statements of Waikato River Authority
for the period ended 30 June 2012
The impact of these amendments on the Authority’s financial statements has not
yet been determined.
4 Determination of fair values
A number of the Authority’s accounting policies and disclosures require the
determination of fair value, for both financial and non-financial assets and liabilities.
Where applicable, further information about the assumptions made in determining
fair values is disclosed in the notes specific to that asset or liability.
5 Government grants
2012
2011
Government grant received
910,000
1,250,000
Government grant received on behalf of
Waikato River Clean Up Trust
(607,368)
-
302,632
1,250,000
The Crown provides $910,000 directly to the Waikato River Authority to cover
reasonable operational costs for the Waikato River Authority and Waikato River Clean
Up Trust. $607,368 of the total funds were applied to operational costs incurred by
Waikato River Clean Up Trust. In the 2011 year it was determined there were no Trust
costs apportioned during the year.
6 Operating expenses
Note
2012
2011
Operational expenses include:
Accounting fees
96,819
44,191
Auditors remuneration audit fees
13,750
15,000
Consultants fees
123,799
219,116
Trustees’ fees
18
17,148
60,386
Trustees’ and governance expenses
18
1,842
3,591
Operating leases
15
3,663
1,221
Other operating expenses
143,586
54,680
400,607
398,185
7 Personnel Costs
2012
2011
Staffing wages
15,039
-
15,039
-
8 Cash and cash equivalents
2012
2011
Bank balances
28,750
963,122
Cash and cash equivalents in the
statement of cash flows
28,750
963,122
The carrying value of cash at bank and short-term deposits with maturities less than
three months approximates their fair value.
20