Territory Stories

February 2008 report to the Legislative Assembly

Details:

Title

February 2008 report to the Legislative Assembly

Collection

Report to the Legislative Assembly; Reports; PublicationNT

Date

2008

Description

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

Notes

Date:2008-02

Language

English

Subject

Northern Territory. Auditor-General's Office -- Periodicals; Finance, Public -- Northern Territory -- Accounting -- Periodicals; Northern Territory -- Appropriations and expenditures -- Periodicals

Publisher name

Northern Territory Auditor-General's Office

Place of publication

Darwin

ISSN

1323-7128

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/223559

Citation address

https://hdl.handle.net/10070/686148

Page content

Auditor-General for the Northern Territory February 2008 Report 147 Power and Water Corporation cont Abridged Balance Sheet of the Consolidated Entity 2007 2006 $000 $000 Current Assets 122,413 135,310 Less Current Liabilities (132,123) (142,238) Working Capital (9,710) (6,928) Add Non Current Assets 1,057,900 1,104,136 1,048,190 1,097,208 Less Non Current Liabilities (496,710) (473,720) Net assets 551,480 623,488 Represented by: Retained profits 554,284 623,488 Reserves (2,804) - Equity 551,480 623,488 The decline in the value of net assets is directly relatable to the impairment write down in the value of water and sewerage assets of $146.4 million. The net cash provided by operations of $92.3 million supplemented by the net proceeds of borrowings of $18.9 million were used to pay for investment in property plant and equipment of $113 million and the dividend payment of $10.2 million for 2005/06. This has resulted in an $11.7 million reduction in cash reserves as compared to the prior year.


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