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Statutory Budget TOWN OF EAST FREMANTLE BUDGET FOR THE YEAR ENDED 30TH JUNE 2011 TABLE OF CONTENTS Statement of Comprehensive Income by Nature or Type 2 Statement of Comprehensive Income by Program 3 Statement of Cash Flows 4 Rate Setting Statement 5 Notes to and Forming Part of the Budget 6 to 27 TOWN OF EAST FREMANTLE STATEMENT OF COMPEREHENSIVE INCOME BY NATURE OR TYPE FOR THE YEAR ENDED 30TH JUNE 2011 NOTE 2010/11 2009/10 2009/10 Budget Actual Budget $$$ REVENUE Rates 8 5,104,693 4,780,733 4,795,777 Operating Grants, Subsidies and Contributions 779,944 765,016 837,211 Fees and Charges 11 1,076,480 1,539,872 893,327 Service Charges 10 0 0 0 Interest Earnings 2(a) 162,000 223,891 107,000 Other Revenue 108,200 248,964 166,700 7,231,317 7,558,476 6,800,015 EXPENSES Employee Costs (2,695,372) (1,996,865) (2,220,359) Materials and Contracts (3,275,369) (2,990,202) (3,075,660) Utility Charges (190,500) (265,214) (275,031) Depreciation 2(a) (702,205) (704,033) (670,670) Interest Expenses 2(a) (35,827) (45,006) (45,603) Insurance Expenses (201,180) (196,218) (184,700) Other Expenditure (99,900) (137,391) (99,500) (7,200,353) (6,334,929) (6,571,523) Non-Operating Grants, Subsidies and Contributions 787,922 251,240 424,862 Profit on Asset Disposals 4 46,000 16,330 40,170 Loss on Asset Disposals 4 (1,470) 0 NET RESULT 863,416 1,491,117 693,524 Other Comprehensive Income 000 TOTAL COMPREHENSIVE INCOME 863,416 1,491,117 693,524 Please note, Other Comprehensive Income (if any) is impacted upon by external forces and is not able to be reliably estimated. It is anticipated, in all instances, any other comprehensive income will relate to non-cash transactions and as such, have no impact on this budget document. This statement is to be read in conjunction with the accompanying notes. Page 2 TOWN OF EAST FREMANTLE STATEMENT OF COMPEREHENSIVE INCOME BY PROGRAM FOR THE YEAR ENDED 30TH JUNE 2011 NOTE 2010/11 2009/10 2009/10 Budget Actual Budget $$$ REVENUE (Refer Notes 1,2,8 to 13) Governance 23,200 42,013 14,200 General Purpose Funding 5,549,293 5,283,604 5,177,117 Law, Order, Public Safety 18,600 39,651 17,000 Health 3,140 10,483 2,540 Education and Welfare 649,130 684,596 603,037 Housing 74,360 44,386 55,380 Community Amenities 224,400 188,375 173,570 Recreation and Culture 292,214 337,748 272,361 Transport 250,000 524,222 258,500 Economic Services 136,780 141,916 148,030 Other Property and Services 10,200 261,483 78,280 7,231,317 7,558,477 6,800,015 EXPENSES EXCLUDING FINANCE COSTS (Refer Notes 1,2 & 14) Governance (587,808) (559,695) (495,118) General Purpose Funding (270,571) (176,618) (210,695) Law, Order, Public Safety (155,600) (119,680) (148,240) Health (112,734) (78,259) (101,630) Education and Welfare (678,756) (660,302) (680,386) Housing (35,110) (35,531) (35,010) Community Amenities (1,876,869) (1,544,923) (1,777,799) Recreation & Culture (1,487,630) (1,308,533) (1,275,619) Transport (1,731,903) (1,577,843) (1,492,078) Economic Services (168,945) (155,813) (172,815) Other Property and Services (58,600) (71,724) (136,530) (7,164,526) (6,288,921) (6,525,920) FINANCE COSTS (Refer Notes 2 & 5) Governance (7,728) (9,606) (9,053) Community Amenities (1,802) (2,406) (2,211) Recreation & Culture (8,845) (9,197) (10,889) Transport (17,452) (24,799) (23,450) (35,827) (46,008) (45,603) NON-OPERATING GRANTS, SUBSIDIES AND CONTRIBUTIONS Welfare 85,000 57,306 40,700 Recreation 273,844 49,678 37,500 Transport 429,078 144,256 346,662 787,922 251,240 424,862 PROFIT/(LOSS) ON DISPOSAL OF ASSETS (Refer Note 4) 44,530 16,330 40,170 44,530 16,330 40,170 NET RESULT 863,416 1,491,118 693,524 Other Comprehensive Income 000 TOTAL COMPREHENSIVE INCOME 863,416 1,491,118 693,524 Please note, Other Comprehensive Income (if any) is impacted upon by external forces and is not able to be reliably estimated. It is anticipated, in all instances, any other comprehensive income will relate to non-cash transactions and as such, have no impact on this budget document. This statement is to be read in conjunction with the accompanying notes. Page 3 TOWN OF EAST FREMANTLE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30TH JUNE 2011 NOTE 2010/11 2009/10 2009/10 Budget Actual Budget Cash Flows From Operating Activities $ $ $ Receipts Rates 5,104,693 4,713,561 4,795,777 Operating Grants, Subsidies and Contributions 779,944 765,016 837,211 Fees and Charges 1,076,480 1,508,853 893,327 Service Charges 0 0 0 Interest Earnings 162,000 254,910 107,000 Other 108,200 248,964 166,700 7,231,317 7,491,304 6,800,015 Payments Employee Costs (2,695,372) (1,996,865) (2,220,359) Materials and Contracts (3,275,369) (3,151,344) (3,075,660) Utility Charges (190,500) (265,214) (275,031) Insurance Expenses (201,180) (196,218) (184,700) Interest Expenses (35,827) (45,006) (45,603) Other (99,900) (137,391) (99,500) (6,498,148) (5,792,038) (5,900,850) Net Cash Provided By Operating Activities 15(b) 733,169 1,699,266 899,165 Cash Flows from Investing Activities Payments for Purchase of Property, Plant & Equipment 3 (1,934,925) (626,740) (1,129,100) Payments for Construction of Infrastructure 3 (2,032,026) (517,901) (1,171,364) Non-Operating Grants, Subsidies and Contributions used for the Development of Assets 787,922 251,240 424,862 Proceeds from Sale of Plant & Equipment 4 85,000 59,154 117,000 Proceeds from Advances Net Cash Used in Investing Activities (3,094,029) (834,247) (1,758,602) Cash Flows from Financing Activities Repayment of Debentures 5 (123,088) (123,116) (126,051) Proceeds from Self Supporting Loans 3,980 3,980 Proceeds from New Debentures 5 1,200,000 0 Net Cash Provided By (Used In) Financing Activities 1,076,912 (119,136) (122,071) Net Increase (Decrease) in Cash Held (1,283,948) 745,883 (981,508) Cash at Beginning of Year 4,755,872 4,009,989 3,860,000 Cash and Cash Equivalents at the End of the Year 15(a) 3,471,924 4,755,872 2,878,492 This statement is to be read in conjunction with the accompanying notes. Page 4 TOWN OF EAST FREMANTLE RATE SETTING STATEMENT FOR THE YEAR ENDED 30TH JUNE 2011 NOTE 2010/11 2009/10 2009/10 Budget Actual Budget $$$ REVENUES 1,2 Governance 23,200 42,013 18,440 General Purpose Funding 444,600 502,871 381,340 Law, Order, Public Safety 18,600 39,651 17,000 Health 3,140 10,483 7,480 Education and Welfare 649,130 684,596 658,737 Housing 74,360 44,386 55,380 Community Amenities 224,400 188,375 173,570 Recreation and Culture 292,214 337,748 321,861 Transport 1,037,922 524,222 608,262 Economic Services 136,780 141,916 148,920 Other Property and Services 10,200 261,483 78,280 2,914,546 2,777,744 2,469,270 EXPENSES 1,2 Governance (587,808) (570,695) (526,171) General Purpose Funding (270,571) (176,618) (210,695) Law, Order, Public Safety (155,600) (119,680) (180,240) Health (112,734) (78,259) (101,630) Education and Welfare (678,756) (660,302) (680,386) Housing (35,110) (35,531) (35,010) Community Amenities (1,876,869) (1,544,923) (1,873,010) Recreation & Culture (1,487,630) (1,308,533) (1,286,508) Transport (1,731,903) (1,609,843) (1,552,448) Economic Services (168,945) (155,813) (172,815) Other Property and Services (58,600) (71,724) (136,530) (7,164,526) (6,331,921) (6,755,443) Adjustments for Cash Budget Requirements: Non-Cash Expenditure and Revenue (Profit)/Loss on Asset Disposals 4 (44,530) (19,614) (40,170) Depreciation on Assets 2(a) 702,205 704,033 670,670 Capital Expenditure and Revenue Purchase Land and Buildings 3 (1,642,711) (377,588) (851,130) Purchase Infrastructure Assets - Roads 3 (1,936,048) (517,901) (1,171,364) Purchase Infrastructure Assets - Parks 3 (95,978) 00 Purchase Plant and Equipment 3 (224,000) (243,366) (261,470) Purchase Furniture and Equipment 3 (68,214) (5,786) (16,500) Proceeds from Disposal of Assets 4 85,000 72,295 105,000 Repayment of Debentures 5 (123,087) (123,116) (126,051) Proceeds from New Debentures 5 1,200,000 0 0 Self-Supporting Loan Principal Income 0 3,980 3,980 Transfers to Reserves (Restricted Assets) 6 (207,000) (830,704) (202,000) Transfers from Reserves (Restricted Assets) 6 398,298 91,419 526,820 ADD Estimated Surplus/(Deficit) July 1 B/Fwd 7 1,103,808 1,142,666 857,167 LESS Estimated Surplus/(Deficit) June 30 C/Fwd 7 1,854 1,103,808 4,556 Amount Required to be Raised from Rates 8 (5,104,091) (4,761,667) (4,795,777) This statement is to be read in conjunction with the accompanying notes. Page 5 TOWN OF EAST FREMANTLE NOTES TO AND FORMING PART OF THE BUDGET FOR THE YEAR ENDED 30TH JUNE 2011 1.
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