Annual Report 30 June 1999

1999 Budget $				1999 Actual $	1998 Actual $
			Note
		Current Assets
89,000		Cash at Bank		58,734	90,135
--		Short Term Deposits		150,000	300,000
15,000		G.S.T. Receivable		7,676	16,541
15,000		Sundry Debtors and Prepayments		45,327	12,696
119,000		Total Current Assets		261,737	419,372
467,000		Fixed Assets	5	451,468	389,409
$586,000		Total Assets		$713,205	$808,781
		Current Liabilities
118,000		Creditors and Accruals	6	101,812	117,450
		Equity
370,000		Accumulated Funds		513,105	593,043
98,000		Asset Revaluation Reserve		98,288	98,288
468,000		Total Equity		611,393	691,331
$586,000		Total Equity and Liabilities		$713,205	$808,781

E.H. Abernethy Chairman 13 July 1999

J. Farrell Chief Executive 13 July 1999

1999 Budget $				1999 Actual $	1998 Actual $
691,000		Equity at start of period		691,331	615,870
(223,000)		Surplus (Deficit) for year		(79,938)	63,335
--		Increase in revaluation reserve		--	12,126
		Total recognised revenues and expenses
(223,000)		for the year		(79,938)	75,461
$468,000		Equity at end of period		$611,393	$691,331

1999 Budget $				1999 Actual $	1998 Actual $
		Cash Flows from Operating Activities
		Cash was provided from:
2,063,000		- Government Grant & Other Sources		2,084,781	2,258,180
38,000		- Interest		28,052	49,083
		Cash was disbursed to:
(2,211,000)		- Suppliers & Employees		(2,123,625)	(2,163,439)
(110,000)		Net Cash Flows from Operating Activities	4	(10,792)	143,824
		Cash Flows from Investing Activities
		Cash was provided from:
--		- Sale		--	9,000
300,000		- Net Decrease in Bank Deposits	7	150,000	--
		Cash was applied from:
(191,000)		- Purchase of Fixed Assets		(170,609)	(73,733)
--		- Net Increase in Bank Deposits	7	--	(30,000)
109,000		Net Cash Flows from Investing Activities		(20,609)	(94,733)
(1,000)		Net Increase (Decrease) in Cash Balances		(31,401)	49,091
90,000		Add Opening Cash Balance		90,135	41,044
$89,000		Closing Cash Balance carried forward		$58,734	$90,135