The following tables contain abridged financial information which show how financially healthy we were at 30 June 2008.
Statement of net assets
| Assets |
$30 June 2007 |
$30 June 2008 |
| Investments |
217,035,819 |
238,574,569 |
| Cash at Bank |
7,126,304 |
3,925,352 |
| Sundry Debtors |
15,367 |
33,579 |
| Deferred Tax Assets |
5,724 |
6,341,774 |
| GST Receivable |
28,704 |
41,661 |
| Total Assets |
224,211,918 |
248,916,935 |
| Less Liabilities |
| Benefits Payable |
350,000 |
175,297 |
| Administration Fees Payable |
474,330 |
615,598 |
| Insurance Premiums Payable |
38,157 |
43,079 |
| Cash Clearing Account |
1,872,352 |
375,816 |
| Other Amounts Payable |
79,133 |
46,283 |
| Income Tax Payable |
6,450,625 |
3,716,031 |
| Deferred Tax Liabilities |
996,099 |
1,845 |
| Total Liabilities |
10,260,696 |
4,973,949 |
| Net Assets Available to Pay Benefits at 30 June |
213,951,222 |
243,942,986 |
| Represented by: Liabilities for Accrued Benefits |
| Allocated to Members’ Accounts |
213,124,549 |
242,565,098 |
| Unallocated |
826,673 |
1,377,888 |
| Total |
213,951,222 |
243,942,986 |
Statement of changes in net assets
| Changes in Net Assets |
$2007 |
$2008 |
| Net Assets at 1 July |
213,951,222 |
243,942,986 |
| Plus Income |
| Trust Distribution Income |
20,518,605 |
17,789,237 |
| Interest |
184,451 |
247,067 |
| Other Investment Income |
109,836 |
172,017 |
| Changes in Net Market Value of Assets |
7,310,453 |
52,284,101 |
| Employer Contributions |
32,552,511 |
44,572,796 |
| Member Contributions |
16,346,921 |
14,117,537 |
| Transfers In |
52,589,065 |
27,525,925 |
| Insurance Proceeds |
350,000 |
304,447 |
| Government Co-Contributions |
1,213,031 |
1,308,727 |
| Total Income |
131,174,873 |
53,753,652 |
| Less Outgoings |
| Insurance Premiums |
397,206 |
508,513 |
| Administration Expenses |
1,465,178 |
2,338,098 |
| Operating Expenses |
0 |
0 |
| Total Outgoings |
2,044,327 |
287,468 |
| Benefits Accrued before Income Tax |
129,130,546 |
50,879,184 |
| Benefits Paid before Income Tax |
8,309,476 |
19,840,914 |
| Less Income Tax Expenses |
7,015,343 |
1,046,506 |
| Net Assets Available to Pay Benefits at 30 June |
213,951,233 |
243,942,986 |