| 2012 $’000 | 2011 $’000 | |
|---|---|---|
|
The APSC currently has 4 (2011: 5) agreements for the leasing of premises which have provisions requiring the APSC to restore the premises to their original condition at the conclusion of the lease. The APSC has made a provision to reflect the present value of this obligation. On 30 June 2011 an independent valuer conducted a revaluation of restoration obligations. The provision decreased by $15,000. An increment of $15,000 was credited to the asset revaluation surplus as this reversed previous decrements to the revaluation surplus for the relevant asset class. This increment to the asset revaluation surplus was included in the equity section of the balance sheet |
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| Note 9a: Employee provisions | ||
| Leave | 6,354 | 5,634 |
| Superannuation | 506 | 505 |
| Total employee provisions | 6,860 | 6,139 |
| Employee provisions are expected to be settled in: | ||
| No more than 12 months | 2,860 | 2,348 |
| More than 12 months | 4,000 | 3,791 |
| Total employee provisions | 6,860 | 6,139 |
| Note 9b: Provision for restoration obligations | ||
| Carrying amount 1 July | 458 | 332 |
| Additional provisions made | 6 | 185 |
| Amounts used | (26) | - |
| Amounts reversed | - | (80) |
| Unwinding of discount or change in discount rate | 22 | 21 |
| Closing balance 30 June | 460 | 458 |
| Provision for restoration obligations are expected to be settled in: | ||
| No more than 12 months | 38 | 26 |
| More than 12 months | 422 | 432 |
| Total provision for restoration obligations | 460 | 458 |
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