Table Of Content

PRINCE ALBERT MUNICIPALITY [These financial statements have not been audited FINANCIAL STATEMENTS 30 JUNE 2010 PRINCE ALBERT MUNICIPALITY Index Cor ts General Information Approval ofthe Financial Statements Report af the Aucitor General Report of the CFO ‘Statement af Financial Postion ‘Statement of Financial Performance Statement of Changes in Net Assets Gash Flow Statement 1 2 3 4 5 6 7 a ° ‘Accounting Poticies Noles to the Financial Statements 28-62 APPENDICES ‘Schedule of External Loans 6 Analysis of Property, Plant and Equioment 64-25 ‘Segmental Analysis of Property, Plant and Equipment - Munlopal Votes. 66 ‘Segmental Analysis of Property, Plant and Equipment - GFS 87 ‘Segmental Statement of Financial Performance -GFS 28 a9900mF Disclosure of Grants and Subsidies In Terms of Section 123 of MMA, 88 of 2003 6 PRINCE ALBERT MUNICIPALITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 0 JUNE 2010, ‘GENERAL BIFORIMATION tinea pyc nme ei Wein meinen oe 8 Seam atom sey 8 cy io Maho ys Me sp Sate ht tr? “ans aet pyeis ee es Wen thn Fin aero th a Seo uk Sana al fk 1 6 itunes ft 03 0 "uit Fring an acme ean Ragintars ‘at Si An ah ‘Mumope ears At nat 2006 elena ams oT, ‘tke Cea nee ero) Erez uy Sl ne. 01 a Urameymie aon Alarm et 6 oui Carine Cpe at ema 7d 0 te Channteagcn Repo ae PRINCE ALBERT MUNICIPALITY MEMBERS OF THE PRINCE ALBERT MUNICIPALITY war councittoR Prseatinea as, Bonin Prowations er A Pons Propo i. sles Prosopen Mae #2 cen Prowationa Mr JPG Prog He NS Aas APPROVAL OF FINANCIAL STATEMENTS. Lar resgersb fore aspera anne Hn lemon, witcher a ae fon popes "20 60 tome o Sactan 1 (+ the Hunioosl nance anageen et fndwhion have signa on sate of he Marcas | eony the te soaring, allemancos and nena ol Courailors 28 rsclosent noe 21 ot Inene 2-rusl anil sateen ate = = ip Ihe nour k OnaNed > Becton 219 ol hy Cousstoy, el wl ee Menlo La. Ooo Bore Sells Miler ui onde te soe ovsine st Moanin eects va he et 81 Aagudus a2 PRINCE ALRERT MUNICIPALITY [STATEMENT OF FINANCIAL POSITION AT sO JUNE 2010, NET ASSETS AND ABILTIES Net Assets Housing Dovelapment und Ceptal Replacement Reserve Acruroulates Sums Ue Now: Current Lineuition Longer taptnes Empioyee Berets Current Liabitiee Ccrmumor Depots Short Tem Eriplyee Benefts Trade ane ote poyaois [Unspant Gondtonal Goverment Gras ard Receipts ‘Unspent Condinal Pus Corr tone and Reecpta Toxes ‘Shortt Laans Operating Lease L abiity (Gash and Gash Faqatents Curent Parion of Long-ierm Listes ‘otal Net Asgets and Laultles ASSETS Non-Corrat Assets Fropaty, Mant and Eamon! ‘Non-Cutrae Ate Hod fr Se Iruesimert Property Ienge Assets Invesiments LingrTarm Receivables ‘Curent Ascot Inventory “ead Receivables am axchange transactions ‘ther Revotvabie fem non-exehange Wanetlns Unpaid Carciteral Government Garis and Recaite Gperatng Lente asset Taxes Current Porton of Long term Recsivabes Cand ane Comm Equeaaris, Total Assots notes 10 seo mane soon cose | _ cosa pina || assiee digsiom || zt zea sats 20s Tamas 708828 samo | zones eave || rss stein | sSeaae sihames | Ssn0% ena | : ‘aoe! 6 ener sana maaan seassan PRAISES RSET soavs rom urea suite Fionaors —_ahasnee7 ec 2a went] ators tae ee fies || vara tsso2ss | eroass saon4aed || _teansatd Taree sana PRINCE ALBERT MUNICIPALITY ‘STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 90 JUNE 2040 Prop force covert Crass ard Sues de Combcled Peper Pun and Exuiorent Other Hever Tress aymene hanes Fae vane rer Rates penaliesImpucd aa cate taro Semee Cham ‘aa Sansee Aston Contbaen FRevotef ies ane Equpmer Irs Forres ern Inet taro -utteadng donee Inet Agent Secs ‘hnrineone Bepresisten ad Ano saton FRepals end Mantsnance Firenea Gharze ‘rans st Sin Pa (er Oper rant Penne hanes 9 Fa Vale Tool Expensive ‘Operating Surplus forthe Yat Lassen lapoal af Pope Pan at Ea pect ‘Ga cn daporal of Prory, Pan: Cage NET 6URPLUSKEFIONT FOR THE YEAR eferto Append for explanation ofvaiances ” 2aaunts 5360008 ETE Ee) PETZ) Ei) asISSTe "eau szazeee || saet OH75I0 ashe? Eo ronaat 9m 38 13.398 Cr cme 23088 ss 1200" Sry Ex Sra eae eat Wee precy =e a por eres mae eae PRINCE ALBERT MUNICIPALITY ‘GASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2010, (GASH FLOW FROM OPERATING ACTIVITIES Gash receipts rom ratepayers, government and other (Gasn pald to uppers anc employees Cash genoratedlatsrbad by operaions Interest Raceivea Inmerest Paid Cchenge in sccounting policy - Note 40.4 CASH FLOW FROM INVESTING ACTIVITIES. Purchase ol Property, Mant ond Lqvipme eaooads on Disposal of Fiked ASSEIS (IncreasayDeereaeo in Inlangibie Assets (UncreaseDacrease in Long-term Rooaivables lIncraaseyDeerease in Non-curtank Rv@stmnens Net Cash from Investing Acthities CASH FLOW FROM FINANCING ACTIVITIES Now loans risedirepsid) InerenseliDecrease) in Consumer Jeposits Net Cash fromm Financing Activities NET INCREASEOECREASE} IN CASH AND CASH EQUIVALENTS. Gash and Cash Equivalents tthe begining of the ya {Gash and Gash Eqcivalems al he end of tre year NET INGREASE/DECREAS®! IN GASH AND GASH EQUIVALENTS: 2 2010 2009 Nowe R R s4c05008 2.045.285 (basa (47556315 2 SA51SI4 AaB 2 FinPert 11382972 2380.853 Fin-Pert 75.342 (210.358) 336880 6,550,548 2 waenars) easasy3y 6 essa) wom . at (1asaa20) (534,760) App. (25873) e2a7 5 18.564 23725 (18,170) 8) ___ 18,989,705) ares.ear weasest2 17.414 785 a 13482827 1es08612 15,093,735) sneer PRINCE ALBERT MUNGIPALETY ACCOUNTING PRINCIPLES AND POLICIES NOTES APPLIED IN THE FINANCIAL STATEMENTS. BASIS OF PREPARATION “The annul fnarcsal ststemants have been prepared onan secrsel asin of accounting andar in accordance vith ristoical cost convention unless spectied omerwis. ‘Thess annual financial ststoments havo been propared in accordance with Directive 5 ‘Determining ha CRAP Reporting Framawork’, sued bythe Accounting Standards Beard “The stndands are summarised 2a flows: TGRAP1 1 Prosentatien of Financial Statements GRAPZ " Gash Flow Staterante NG@Raps | Acsountng Policies, Charges in Aosaunting Estimaies ard Eviors GRAF ‘Tha Effects ofchanges in Fersign Exchange Rates GRAF S Borwingots CRAPS Gonsocsted and Separate Fiencia Statemets “GRAFT Tnvesiments in Aseaciate “ona Tneresis m Jom venwies — ~ JaRAPe avenue from Exchange Transactions 1" GRAP 10 Tiraneral Reporting in Hyperintationary Eoonomlcs — GRAF 14 ‘Gonstruetion Gartracts ferapy2 —|imentone [rap 1s Tease [omar Evens afr the reporting dale forar te” [InesmentPropery oo GRaP aT Property, Plant ane Equbment (PPE) GRAP TS Prausions, Cortngent Liabilias and Contingent Assets GRAP 190 NorvCutrenl Assets Held for Sale ane Discontinued Operators ‘GRAPADT [Aacutural [araptoz imanglessets 1PSAS20 _ Releled Party Dicelosure [IRS 3 (ACT#O) Business Cambinatione IFRS A(AC141) _Insurance Con acts . TFRS6(AC143) _ Expbraton for and Evahiation of Minaral Recoureats IFRS 7(AC144) —Franstl instruments: Disclosure ~— “TPRS-12 (R102) reame Taxes Accounting Potey - 2010 apa 12. PRINCE ALBERT MuNVCIPALITY TERS i8TAE1) “Enyce Bove TERS 9 (AST) _ Freel israrois Poseiaton i IF 9 (ACTH) Rov and Reseuement SIC 20 {ACAP1) “Inoame Taxes - Resouery of Revalisied Nov Deprociale Asses [6= 25 AGH) _lavoreTess Change inte Tax Sats on an Eni orfe Shorea [SC 28 (ACA2E)_, Senice oncessions Arangements— Disclosures TFRIC 2 (AC436) | Mombars’ Shares in Co-operative Elita and Simi sir smants ERIC 4 (AC37) | Detennining whether an Arongement contains a Lease WERIC 9 (ACA) | Reaseessmert of Embedded Deriatves lrRuc 12 (AG845)_ | Series Concescion Arangements [ERIC 13 (ACKG) | Customer Loyaty Programmes i TERIC 14 [ACA47)_| Tha Limit on a Defined Bonaft Asset, Minimure Funding Recuiramente and ther Ieerac ‘asements Ter he Connracinn ot alain Lirias 1 cao) “| Hodges ina Nerimesmenina For Opersien | ‘Accounting pobcias for mateialtransactlns, events of earttions net covered by the above [GRAP have bean develope in aecotdance wih paragiarh 7,11 2nd2 ol GRAP 2 A suramary of the significant acca ming pila, which have been cansstendy eppied except ‘where an exertion a ravsttanalproision haa been greed, te cgclosed Helaw ‘coats, “abt, raven je and expenses have not been ofsataxcept when oflesting s permit or reuired by a Standard of GRAP. “Tho accounting po cies applied are consistent with those usad {o pracent the pravicus ya's inane slatemerts. untost explily slated. Tha deals of any cheaiges in accucrtiy patios are expand inthe evar Notes othe Francia Stalements In terms of Dtecive 4: “Transtional Provcions for Macum and Low Capacity Municipals issued by the Accounting Standards Board the municipality haa adopted the tranational prodsions for tha fallowing GRAP Standards ‘GRAP 12 —mnventaies GRAP 13 Lessee ‘GRAP 13 — Investment Propery GRAP 17 ~ Propet, Plant and Equioment ‘GRAP 19 Provisions. Contingent Listltiés and Contant Aes. ‘GRAP 100 Non-ourent Ase Hes fo" Sala and Disconfnued Operations ‘GRAP 102 Inisngibe Assets PRESENTATION CURRENCY Amacals fefetea in the finaacial statements ae in Sous Acar Rend and at aval valves. No ‘inancal values are gar in an sbbrevisted display format. Na foreign exchange transactions S72 inelided nthe eatemerts, ‘Accounting Policy 2010 ps0