Annual report 2012
16 Equity
Group Group Parent Parent
2012 2011 2012 2011
$’000 $’000 $’000 $’000
Retained Earnings
Balance at 1 January
121,293 114,007 104,066 95,610
Surplus/(deficit) for the year
7,947
7,286
9,091
8,456
Capital Contributions from the Crown
-
-
-
-
Balance at 31 December
129,240 121,293 113,157 104,066
Property revaluation reserves
Balance at 1 January
12,485 12,485 12,437 12,437
Land and buildings net revaluation gains/ (losses)
(2,961)
- (3,035)
-
Balance at 31 December
9,524 12,485
9,402 12,437
Total Equity
138,764 133,778 122,559 116,503
Capital contributions
The Crown has made equity contributions to Te Wānanga o Aotearoa in line with the recommendations outlined
in the Wānanga Capital Establishment Report - Waitangi Tribunal Report 1999 (WAI 718). To date, the Crown has
made Equity contributions of $71,811,000. During 2012 an adjustment from Retained Earnings to Crown Equity
of $11,811,000 was made to correct a prior period classification error. As at 31 December 2011, the balance was
$60,000,000.
Suspensory loan
The equity contributions for the suspensory loan agreed to in 1999 were completed in 2010 ($20,000,000) and
were recognised directly in equity on receipt to reflect the substance of the transactions and that it was more than
probable all the funding deliverables would be achieved. The final confirmation of the equity conversion for the
suspensory loan was received in 2011.
Property revaluation reserves
Group Group Parent Parent
2012 2011 2012 2011
$’000 $’000 $’000 $’000
Land and buildings
9,524
12,485
9,402
12,437
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