ALIA annual report

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Balance sheets and cash flows

as at 31 December 1996

	Notes	1996	1995
		$	$
Current assets
Voucher fund investments	1(j)	3 019 330	3 033 177
Short-term deposits	4	1 319 876	968 999
Cash at bank and on hand	4	795 544	1 062 641
Stock on hand		34 906	42 965
Debtors and prepayments	5	156 614	188 485
Other		50 000	--
Total current assets		5 376 270	5 296 267
Non-current assets
Property, plant and equipment	6	2 777 102	2 908 657
Total assets		8 153 372	8 204 924
Current liabilities
Lease liability	7	9 036	9 947
Redeemable vouchers	1(j)	3 019 330	3 033 177
Creditors and accruals		129 547	445 233
Employee benefits		69 874	47 525
Other	8	93 627	213 162
Total current liabilities		3 321 414	3 749 044
Non-current liabilities
Lease liability	7	19 734	6 498
Secured loan	9	1 300 000	1 300 000
Employee benefits		27 480	25 188
Total non-current liabilities		1 347 214	1 331 686
Total liabilities		4 668 628	5 080 730
Net assets		3 484 744	3 124 194
Members' funds
General fund		3 460 159	3 099 609
Capital reserve account		24 585	24 585
Total members' funds		3 484 744	3 124 194

The above balance sheet should be read in conjunction with the accompanying notes.

year ended 31 December 1996

	Notes	1996	1995
		$	$
Cashflows from operating activities
Receipts from members and customers		2 640 831	2 729 178
Payments to members, suppliers and employees		(2 713 174)	(2 142 313)
Interest received		376 744	362 687
Interest paid		(130 167)	(105 848)
Income tax refunded		--	124 896
Grants received		39 981	77 518
Net cashflow from operating activities	10	214 215	1 046 118
Cashflows from investing activities
Payments for property, plant and equipment		(88 987)	(102 862)
Proceeds from sale of property, plant and equipment		21 000	3 880
Payments for deferred asset expenditure		(50 000)	--
Net cashflow from investing activities		(117 987)	(98 982)
Net cashflow from financing activities
Repayment of lease liability		(12 448)	(33 263)
Repayment of secured loan		--	(100 000)
Net cashflow from financing activities		(12 448)	(133 263)
Net increase in cash held		83 780	813 873
Cash at beginning of financial year		2 031 640	1 217 767
Cash at end of financial year	4	2 115 420	2 031 640

The above statement of cashflows should be read in conjunction with the accompanying notes.