Notes to Financial Statements as at 30 June 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 $000s $000s $000s $000s $000s $000s $000s $000s $000s $000s Port Marlborough NZ Ltd Special Dividend Reserve Purpose: Defined amounts to be available to the Blenheim Vicinity, Picton Vicinity and General Rural geographic rating areas, or the interest on any unspent balance to be used to subsidise General rates in those areas. Activities to which it relates Various. Opening balance 4,313 4,313 4,313 4,313 4,313 4,313 4,313 4,313 4,313 4,313 Transfer to reserve 237 237 237 237 237 237 237 237 237 237 Transfer from reserve (237) (237) (237) (237) (237) (237) (237) (237) (237) (237) Closing balance 4,313 4,313 4,313 4,313 4,313 4,313 4,313 4,313 4,313 4,313 Wairau Rivers reserve Purpose: Accumulates each year-end surplus or deficit from the Wairau Valley River Works rates. Activities to which it relates: Rivers and Land Drainage on the Wairau Plain. Opening balance 2,305 1,171 (257) (1,251) (1,069) (853) (690) (471) (450) (144) Transfer to reserve 1,059 1,064 1,005 1,039 1,120 1,133 1,140 1,164 1,176 1,209 Transfer from reserve (512) (638) (533) (677) (586) (669) (690) (840) (571) (723) Capex transfer from reserve (1,680) (1,854) (1,466) (180) (319) (301) (231) (303) (299) (269) Closing balance 1,171 (257) (1,251) (1,069) (853) (690) (471) (450) (144) 73 12.2 Accumulated funds Purpose: technical accounting reserve to accumulate Council surplus's, amounts transferred to/from other reserves are deducted-from/added-to this balance. Activities to which it relates: All. Opening balance 583,930 605,631 626,353 636,255 655,902 660,484 663,230 661,876 666,847 666,711 Surplus from Operations 13,760 7,632 5,726 4,387 7,219 8,518 11,095 12,272 13,693 14,878 Transfer from (to) General Reserves (13,008) (5,073) (3,527) (12,344) 2,642 4,394 11,063 4,427 9,908 11,888 Transfer from (to) Corporate Reserves 20,948 18,163 7,703 27,604 (5,279) (10,166) (23,512) (11,728) (23,737) (28,325) Closing balance 605,631 626,353 636,255 655,902 660,484 663,230 661,876 666,847 666,711 665,153 12.3 Reserve funds - Activity specific These reserves are "owned" by a specific activity or individual scheme etc and exist for the following purposes: General Reserve: to accumulate targeted rates or other revenue for use in subsequent years. Depreciation Reserve: to accumulate rates levied to fund depreciation expense, may be used to fund capital expenditure or repayment of debt raised to fund capital expenditure. Landfill Aftercare Reserve:to accumulate "dump fees" charged from the operation of the landfill (or of a stage) required to fund its closure and management once it is fully utilised. Development Contribution Reserve: to accumulate development and financial contributions to fund qualifying capital expenditure. Total of low balance reserves not separately disclosed: Opening balance 995 300 878 1,482 1,664 1,693 1,771 1,167 1,221 870 Transfer to reserve 313 1,002 920 553 348 376 341 387 354 428 Transfer from reserve (593) (306) (270) (271) (269) (273) (897) (285) (654) (280) Capex transfer from reserve (416) (118) (47) (100) (50) (25) (48) (48) (51) (51) Closing balance 300 878 1,482 1,664 1,693 1,771 1,167 1,221 870 966 2018-2028 Long Term Plan Page 257