sch.5B-sec.24Accounting disclosure notes for capital replacement fund, maintenance reserve fund and general services charges fund

### sch.5B-sec.24 Accounting disclosure notes for capital replacement fund, maintenance reserve fund and general services charges fund An annual financial statement must include the following accounting disclosure notes for each of the capital replacement fund, maintenance reserve fund and general services charges fund— for each line item of expected expenditure of the fund that is material expenditure and is made up of more than 1 expense type—a note stating the breakdown, purpose and amounts of expense types forming part of the line item (to the extent not otherwise separately disclosed in the annual financial statement); For a line item for administration and management expenses, the note may list the types of expenses (for example, ‘accounting’, ‘human resources’, ‘web services’, ‘IT support’, ‘other’) and amounts forming part of the line item. if a line item of expenditure of the fund includes a shared expense—a note stating— the other entities, types of entities or purposes for which the expense is expected to be incurred; and the method used to calculate the portion of the shared expense to be paid from the fund; if no amounts are paid into or from the fund—an explanation of why no amounts are paid into or from the fund; an explanation of any material differences between— the income or expenditure of the fund and the corresponding amount in the fund budget; and any surplus or deficit of the fund and the corresponding amount in the fund budget. The statement must also include the following accounting disclosure notes for the capital replacement fund— for each amount received under an insurance policy that was paid into the fund under section 94 (1) (a) of the Act —a note stating particulars of the payment; a note stating the amount of the capital replacement reserve under section 92 (3) of the Act ; a note explaining any material difference between the amount of the capital replacement reserve and the amount recommended in the capital replacement quantity surveyor report. The statement must also include the following accounting disclosure notes for the maintenance reserve fund— a note stating the amount of the maintenance reserve under section 98 (3) of the Act ; a note explaining any material difference between the amount of the maintenance reserve and the amount recommended in the maintenance and repair quantity surveyor report for the fund. (sch.5B-sec.24-ssec.1) An annual financial statement must include the following accounting disclosure notes for each of the capital replacement fund, maintenance reserve fund and general services charges fund— for each line item of expected expenditure of the fund that is material expenditure and is made up of more than 1 expense type—a note stating the breakdown, purpose and amounts of expense types forming part of the line item (to the extent not otherwise separately disclosed in the annual financial statement); For a line item for administration and management expenses, the note may list the types of expenses (for example, ‘accounting’, ‘human resources’, ‘web services’, ‘IT support’, ‘other’) and amounts forming part of the line item. if a line item of expenditure of the fund includes a shared expense—a note stating— the other entities, types of entities or purposes for which the expense is expected to be incurred; and the method used to calculate the portion of the shared expense to be paid from the fund; if no amounts are paid into or from the fund—an explanation of why no amounts are paid into or from the fund; an explanation of any material differences between— the income or expenditure of the fund and the corresponding amount in the fund budget; and any surplus or deficit of the fund and the corresponding amount in the fund budget. (sch.5B-sec.24-ssec.2) The statement must also include the following accounting disclosure notes for the capital replacement fund— for each amount received under an insurance policy that was paid into the fund under section 94 (1) (a) of the Act —a note stating particulars of the payment; a note stating the amount of the capital replacement reserve under section 92 (3) of the Act ; a note explaining any material difference between the amount of the capital replacement reserve and the amount recommended in the capital replacement quantity surveyor report. (sch.5B-sec.24-ssec.3) The statement must also include the following accounting disclosure notes for the maintenance reserve fund— a note stating the amount of the maintenance reserve under section 98 (3) of the Act ; a note explaining any material difference between the amount of the maintenance reserve and the amount recommended in the maintenance and repair quantity surveyor report for the fund. - (a) for each line item of expected expenditure of the fund that is material expenditure and is made up of more than 1 expense type—a note stating the breakdown, purpose and amounts of expense types forming part of the line item (to the extent not otherwise separately disclosed in the annual financial statement); Example— For a line item for administration and management expenses, the note may list the types of expenses (for example, ‘accounting’, ‘human resources’, ‘web services’, ‘IT support’, ‘other’) and amounts forming part of the line item. - (b) if a line item of expenditure of the fund includes a shared expense—a note stating— (i) the other entities, types of entities or purposes for which the expense is expected to be incurred; and (ii) the method used to calculate the portion of the shared expense to be paid from the fund; - (i) the other entities, types of entities or purposes for which the expense is expected to be incurred; and - (ii) the method used to calculate the portion of the shared expense to be paid from the fund; - (c) if no amounts are paid into or from the fund—an explanation of why no amounts are paid into or from the fund; - (d) an explanation of any material differences between— (i) the income or expenditure of the fund and the corresponding amount in the fund budget; and (ii) any surplus or deficit of the fund and the corresponding amount in the fund budget. - (i) the income or expenditure of the fund and the corresponding amount in the fund budget; and - (ii) any surplus or deficit of the fund and the corresponding amount in the fund budget. - (i) the other entities, types of entities or purposes for which the expense is expected to be incurred; and - (ii) the method used to calculate the portion of the shared expense to be paid from the fund; - (i) the income or expenditure of the fund and the corresponding amount in the fund budget; and - (ii) any surplus or deficit of the fund and the corresponding amount in the fund budget. - (a) for each amount received under an insurance policy that was paid into the fund under section 94 (1) (a) of the Act —a note stating particulars of the payment; - (b) a note stating the amount of the capital replacement reserve under section 92 (3) of the Act ; - (c) a note explaining any material difference between the amount of the capital replacement reserve and the amount recommended in the capital replacement quantity surveyor report. - (a) a note stating the amount of the maintenance reserve under section 98 (3) of the Act ; - (b) a note explaining any material difference between the amount of the maintenance reserve and the amount recommended in the maintenance and repair quantity surveyor report for the fund.