ALIA annual report

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Balance sheets and cash flows

as at 31 December 1997

	Notes	1997 $	1996 $
Current assets
Voucher fund investments	1j	3 406 290	3 019 330
Short-term deposits	4	1 572 019	1 319 876
Cash at bank and on hand	4	1 065 467	795 544
Receivables	5	102 436	134 296
Stock on hand		27 589	34 906
Other	6	73 637	72 318
Total current assets		6 247 438	5 376 270
Non-current assets
Property, plant and equipment	7	2 737 664	2 777 102
Total assets		8 985 102	8 153 372
Current liabilities
Lease liability	8	2 829	9 036
Redeemable vouchers	1j	3 406 290	3 019 330
Creditors and accruals		443 675	129 547
Employee benefits		79 710	69 874
Other	9	181 791	93 627
Total current liabilities		4 114 295	3 321 414
Non-current liabilities
Lease liability	8	16 905	19 734
Secured loan	10	1 300 000	1 300 000
Employee benefits		35 442	27 480
Total non-current liabilities		1 352 347	1 347 214
Total liabilities		5 466 642	4 668 628
Net assets		3 518 460	3 484 744
Members' funds
General fund		3 493 875	3 460 159
Capital reserve account		24 585	24 585
Total members' funds		3 518 460	3 484 744

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

year ended 31 December 1997

	Notes	1997 $	1996 $
Cashflows from operating activities
Receipts from members and customers		2 356 788	2 640 831
Payments to members, suppliers and employees		(1 946 516)	(2 713 174)
Interest received		327 854	376 744
Interest paid		(129 480)	(130 167)
Grants received		36 441	39 981
Net cashflow from operating activities	11	645 087	214 215
Cashflows from investing activities
Payments for property, plant and equipment		(114 534)	(88 987)
Proceeds from sale of property, plant and equipment		550	21 000
Payments for deferred asset expenditure		--	50 000
Net cashflow from investing activities		(113 984)	(117 987)
Net cashflow from financing activities
Repayment of lease liability		(9 037)	(12 448)
Net cashflow from financing activities		(9 037)	(12 448)
Net increase in cash held		522 066	83 780
Cash at beginning of financial year		2 115 420	2 031 640
Cash at end of financial year	4	2 637 486	2 115 420

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