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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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