Gawler 2012-13 Annual Report - page 166

Town of Gawler Annual Report 2012/13
Page 166
introduction • summary • strategic directions •
statutory information
• index
Gawler River Floodplain Management Authority
Notes to the Financial Statements for the year ended 30
th
June 2013
Key Estimates
Impairment
The subsidiary assesses impairment at each reporting date by evaluating conditions specific to the
subsidiary that may lead to impairment of assets. Where an impairment trigger exists, the recoverable
amount of the asset is determined. Value-in-use calculations performed in assessing recoverable
amounts incorporate a number of key estimates.
(p) Going Concern Basis
The Board of Management of the Gawler River Floodplain Management Authority has prepared the
financial statements on a going concern basis.
(q) New accounting standards for application in future periods
The Australian Accounting Standards Board has issued new and amended Accounting Standards and
Interpretations that have mandatory application dates for future reporting periods. The Authority has
assessed that it is not expected to be materially impacted by those changes.
2 Functions / Activities of the Association
(a) Revenues and expenses have been attributed to the following functions / activities, descriptions of
which are set out in Note b.
(b) The activities of the Authority are categorised into the following function / activities:
Administration:
The operations of the Authority and its Board
Other Environment: Flood Mitigation
Note 2b Functions of the Gawler River Floodplain Management Authority
(excluding depreciation)
Year
Grants Other
Total
Revenue
% Expenses
Total
% Surplus
(Deficit)
Administration
2013
66,045 66,045
2.4% 50,068 1.3% 15,977
2012
107,334 107,334 3.9% 71,871 1.8% 35,463
Other Environment:
Flood Mitigation
2013 90,972 16,544 107,516 3.9% 106,130 2.7% 1,386
2012 2,644,510 16,000 2,660,510 96.1% 3,922,604 98.2%
(1,262,094)
Total
2013 90,972 82,589 173,561
6.3%
156,198
3.9%
17,363
2012 2,644,510 123,334 2,767,844
100.0%
3,994,475
100.0%
(1,226,631)
Revenue
Expenses
1...,156,157,158,159,160,161,162,163,164,165 167,168,169,170,171,172,173,174,175
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