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Statement of financial performance

Model Financial Statements: Te Motu District Council 2007-08

FOR THE YEAR ENDED 30 JUNE 20083,4,5,6

NZ IAS 1.8(b)
NZ IAS 1.104
Note Council Group



Actual
2008
$000		 Budget7
2008
$000		 Actual8
2007
$000		 Actual
2008
$000		 Actual
2007
$000

Income


NZ IAS 1.81(a) Rates revenue 3 17,768 17,324 15,265 17,760 15,258
NZ IAS 1.81(a) Finance income 4 753 700 541 643 431
NZ IAS 1.81(a) Other revenue 5 12,104 10,982 8,821 13,066 9,484
NZ IAS 1.83 Gains 6 593 0 849 593 849
NZ IAS 1.83 Total income
31,218 29,006 25,476 32,062 26,022






Expenditure


NZ IAS 1.91 Personnel costs 7 4,598 4,432 4,321 4,898 4,628
NZ IAS 1.91 Depreciation and amortisation expense 17,18 4,334 4,102 3,095 4,742 3,254
NZ IAS 1.81(b) Finance costs 4 2,549 2,456 2,276 2,682 2,390
NZ IAS 1.91 Other expenses 8 16,116 15,549 17,948 16,236 18,147
NZ IAS 1.83 Total operating expenditure   27,597 26,539 27,640 28,558 28,419





NZ IAS 1.81(c) Share of associate surplus/(deficit) 16 0 0 0 12 10
NZ IAS 1.83 Surplus/(deficit) before tax
3,621 2,467 (2,164) 3,516 (2,387)





NZ IAS 1.81(d) Income tax expense9 9 0 0 0 (96) (62)
NZ IAS 1.81(f) Surplus/(deficit) after tax
3,621 2,467 (2,164) 3,420 (2,449)





NZ IAS 1.82 Attributable to:


NZ IAS 1.82(b) - Te Motu District Council
3,621 2,467 (2,164) 3,379 (2,508)
NZ IAS 1.82(a) - Minority interest
0 0 0 41 59



3,621 2,467 (2,164) 3,420 (2,499)





NZ IAS 1 NZ 41.1 Explanations of major variances against budget are detailed in note 37.

The accompanying notes form part of these financial statements.





3: The terms statement of financial performance, statement of financial position, and surplus/deficit are appropriate equivalents to IFRS terminology as outlined in the forward to NZ IAS 1.

4: NZ IAS 1.85 prohibits any items of income or expense being presented as extraordinary items either on the face of the statement of financial performance or in the notes.

5: Where there are discontinued operations, NZ IAS 1.81(e) requires disclosure of the total of post-tax profit or loss of discontinued operations and the post-tax gain or loss recognised on the measurement to fair value less costs to sell on the disposal of the assets or disposal group(s) constituting the discontinued operation.

6: The statement of financial performance has been prepared using the nature of expense classification. Alternatively, entities may choose to present expenses based on the function of expense. Refer to NZ IAS 1.88, NZ 92.1.

7: NZ IAS 1 NZ 41.1 requires an entity that has published prospective financial information, other than that expressed solely in general terms, to present a comparison of the prospective financial information with the actual financial results being reported. Explanations for major variances shall be given.

8: NZ IAS 1.36 requires comparative information to be disclosed in respect of the previous period for all amounts reported in the financial statements. Comparative information shall also be included for narrative information when it is relevant to an understanding of the current period's financial statements.

9: Some Councils will have taxable activities in the Council parent entity financial statements as well as the group financial statements.

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