Page 40 - Statement of Intent 2015/16
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Table: Statement of Prospective Position
Forecast Statement of Financial Position
2013/14 $000 A CTUA L
2014/15 $000 FORECA ST
2015/16 $000 PL A NNED
2016/17 $000 PL A NNED
2017/18 $000 PL A NNED
2018/19 $000 PL A NNED
CROWN EQUITY
239,656
234,455
234,491
234,750
234,957
235,130
CURRENT ASSETS:
Bank balances, deposits and cash
17
16
20
20
20
7,850
Receivables
27,688
38,908
39,183
39,465
39,733
40,010
Inventory
9,064
9,937
10,007
10,077
10,147
10,218
36,769
48,861
49,210
49,563
49,900
58,079
CURRENT LIABILITIES:
Short Term Loans
1,533
234
234
121
121
121
Payables and Accruals
102,781
116,313
111,672
110,838
112,307
104,986
Payroll Accruals
70,692
71,894
73,115
74,358
75,622
76,908
175,006
188,440
185,021
185,317
188,050
182,015
Net Working Capital
(138,237)
(139,579)
(135,811)
(135,754)
(138,150)
(123,936)
NON CURRENT ASSETS:
Fixed Assets
597,500
594,028
610,443
625,227
626,767
601,664
Investments
6,807
7,184
7,184
7,184
6,597
6,010
604,307
601,212
617,627
632,411
633,364
607,674
NON CURRENT LIABILITIES:
Payroll Liabilities
14,058
14,744
14,691
29,274
27,623
25,974
Term Loans
212,355
212,434
232,634
232,634
232,633
222,634
226,413
227,178
247,325
261,908
260,257
248,608
NET ASSETS
239,656
234,456
234,491
234,750
234,957
235,130
3.1 Fixed Assets
Fixed assets carrying value is reviewed annually and there are no material issues in valuation. We conduct annual desktop revaluations and revalue periodically in accordance with international financial reporting standards. Our last full asset revaluation was on 30 June 2014.
3.1.2 Disposal of Land
We follow the processes as set out in legislation and administered by the Ministry of Health. The process for disposal of land that we follow is:
Identify that there is no service need for a piece of land either now or for the foreseeable future;
Seek by resolution from the Board, endorsement of the view that there is no service need for the land and also by resolution obtain approval for the disposal process to be commenced;
Advertise that the land is to be disposed of and seek public comment on the proposal;
As a result of submissions received seek either Board confirmation or amendment of the proposal to dispose of the land;
Obtain Ministerial approval;
Obtain an up-to-date valuation of the land;
Invite tangata whenua to consider purchase of the land;
Dispose of the land on the open market if tangata whenua are not interested.
We cover a significant area and have many parcels of land required by historical patterns of service delivery. All land is assessed on an annual basis against the models of service delivery to apply for the future. If it is concluded that land is not required for the foreseeable
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