The University of Waikato - Te Whare Wananga o WaikatoThe University of Waikato - Te Whare Wananga o Waikato

2008 Annual Report

   
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Notes to the Financial Statements 

Note 7: Other Reserves

Consolidated University
Ref This Year Last Year This Year Last Year
$000 $000 $000 $000
Asset Revaluation Reserve i 119,985 120,086 119,985 120,086
University Created Reserves ii - - - -
Restricted Reserves iii 2,967 2,833 2,967 2,833
Total Other Reserves 122,952 122,919 122,952 122,919

 

 

i) Asset Revaluation Reserve

Consolidated University
This Year Last Year This Year Last Year
$000 $000 $000 $000
Opening Balance 120,086 120,086 120,086 120,086
Revaluation - - - -
Transfer on disposal of assets (101) - (101) -
Increase/(Decrease) in Asset Revaluation Reserve (101) - (101) -
Closing Balance 119,985 120,086 119,985 120,086
 
Represented by:
Land
Opening Balance 836 836 836 836
  Revaluation - - - -
Closing Balance 836 836 836 836
 
Buildings
Opening Balance 111,882 111,882 111,882 111,882
Revaluation - -   - -
Transfer on disposal of assets (101) - (101) -
Closing Balance 111,781 111,882 111,781 111,882
 
Infrastructural Assets
Opening Balance 7,368 7,368 7,368 7,368
Revaluation - - - -
Closing Balance 7,368 7,368 7,368 7,368


ii) University Created Reserves

These are reserves established for an external research purpose and for which conditions have been imposed.

Consolidated University
This Year Last Year This Year Last Year
$000 $000 $000 $000
External Research
Opening Balance - 2,025 - 2,025
add appropriation of Net Surplus 24,663 25,182 24,663 25,182
less transfer to Accumulated Surplus (24,663) (27,207) (24,663) (27,207)
Closing Balance - - - -


iii) Restricted Reserves

The Prizes, Scholarships and Trust Funds Reserves represent funds held by the University on behalf of others and funds provided to the University by various people for specific purposes. Revenue received for these items and disbursements to authorised recipients are shown in the Income Statement.

Fund balances remaining are shown as restricted reserves.

Consolidated University
This Year Last Year This Year Last Year
$000 $000 $000 $000
Prizes, Scholarships and Trust Funds
Opening Balance 2,833 2,732 2,833 2,732
add appropriation of Net Surplus 939 607 939 607
less application to Prizes, Scholarships and Trust Funds (805) (506) (805) (506)
Closing Balance 2,967 2,833 2,967 2,833


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