Territory Stories

Batchelor Institute of Indigenous Tertiary Education annual report 2015

Details:

Title

Batchelor Institute of Indigenous Tertiary Education annual report 2015

Creator

Batchelor Institute of Indigenous Tertiary Education (N.T.)

Collection

E-Publications; E-Books; PublicationNT; Batchelor Institute of Indigenous Tertiary Education annual report; Annual Report

Date

2015

Notes

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Batchelor Institute of Indigenous Tertiary Education (N.T.); Periodicals; Aboriginal Australians; Education; Northern Territory; Batchelor; Teachers; Training of; Annual report

Publisher name

Batchelor Institute press

Place of publication

Batchelor

Series

Batchelor Institute of Indigenous Tertiary Education annual report; Annual Report

Volume

1 January to 31 December 2015

Previously known as

Batchelor College annual report

File type

application/pdf

ISSN

1324-8685

Use

Copyright

Copyright owner

Batchelor Institute of Indigenous Tertiary Education (N.T.)

License

https://www.legislation.gov.au/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/264495

Citation address

https://hdl.handle.net/10070/468306

Page content

Annual Report 2015 51 NOTE 23: OTHER LIABILITIES Economic Entity 2015 2014 $000 $000 Current Australian Government and NT Government unspent grants 2,377 2,540 Total current other liabilities 2,377 2,540 NOTE 24: RESERVES AND RETAINED EARNINGS Economic Entity 2015 2014 $000 $000 (a) Reserves Property, plant and equipment revaluation surplus 14,776 14,776 Gifted asset reserve 15,617 15,617 Total reserves 30,393 30,393 Movements Property, plant and equipment revaluation surplus Balance at 1 January 14,776 14,776 Balance at 31 December 14,776 14,776 Gifted asset reserve Balance at 1 January 15,617 15,617 Balance at 31 December 15,617 15,617 (b) Retained earnings Movements in retained earnings were as follows: Retained earnings at 1 January 15,874 17,191 Operating result for the period (3,186) (1,317) Retained earnings at 31 December 12,688 15,874 (c) Nature and purpose of reserves Property, plant and equipment revaluation surplus The property, plant and equipment revaluation surplus arises from the revaluation of non-current assets. Where a revalued asset is sold, the portion of the revaluation reserve which relates to that asset is transferred to retained earnings. Gifted asset reserve During the year ended 31 December 2002, the Northern Territory Government gifted to Batchelor Institute certain land and buildings which it occupied. The fair values of these land and buildings were determined on the basis of valuations performed by the Valuer-General as at 1 July 2002. The valuation was determined on the basis of fair value for land amounting to $290,000 and depreciated replacement cost for buildings of $15,109,000 making a total of $15,399,000. These values were recognised in the financial statements during 2002 via the gifted asset revaluation. These and other assets have been revalued in accordance with Batchelor Institutes revaluation policy as described in Note 1(l).


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