Notes to and forming part of the financial statements
For the year ended 30 June 2007
- Note 1: Summary of Significant Accounting Policies
- Note 2: Economic Dependency
- Note 3: Events Occuring After Reporting Date
- Note 4: Income
- Note 5: Operating Expenses
- Note 6: Financial Assets
- Note 7: Non-Financial Assets
- Note 8: Provisions
- Note 9: Payables
- Note 10: Cash Flow Reconciliation
- Note 11: Director Remuneration
- Note 12: Related Party Disclosures
- Note 13: Executive Remuneration
- Note 14: Remuneration of Auditors
- Note 15: Average Staffing Levels
- Note 16: Financial Instruments
- Note 17: Reporting of Outcome
Note 16: Financial Instruments
|Financial Instrument||Notes||Floating Interest Rate||Fixed Interest Rate Maturing In||Non Interest bearing||Total||Weighted Average Effective Interest Rate|
|1 Year or less||1 to 5 years||> 5 years|
|Floating rate notes||6C||-||10,034||-||10,034||-||6.11|
|Investments accounted for using equity method||6D||83||-||83||-||n/a||n/a|
|Total Financial Assets||4,600||12,071||86,146||90,838||-||10,034||8,899||9,206||99,645||122,149|
Contributions not yet utilised
|Total Financial Liabilities||39,948||44,658||39,948||44,658|
|Total carrying amount||Aggregate net fair value||Total carrying amount||Aggregate net fair value|
|Deposits at call||6A||4,600||4,600||12,071||12,071|
|Floating rate notes||6C||-||-||-||-|
|Investments under equity method||6D||83||83||90,838||90,838|
|Total Financial Assets||99,645||99,645||122,149||122,149|
|Contributions not yet utilised||10C||361||361||1,727||1,727|
|Total Financial Liabilities||39,948||39,948||44,658||44,658|
The fair values of deposits at call and receivables approximate their carrying amounts.
The fair value of floating rate notes is based on discounted cash flows using current interest rates for assets with similar risk profiles.
The fair value of the Individually Managed Fund is the quoted market value at reporting date, adjusted for the transaction costs necessary for realisation.
The fair value of investments in associates is the initial cost of the investment in the associate adjusted for the Corporation’s share of the post-acquisition change in the net assets of the associate.
The fair value of shares in unlisted companies is the Corporation’s proportion of the estimated net asset position of the company.
The fair values of trade creditors, project liabilities and contributions not yet utilised approximate their carrying amounts.
Note 16C - Credit Risk Exposures
The Corporation's maximum exposure to credit risk at reporting date in relation to each class of recognised financial assets is the carrying amount of those assets as indicated in the Balance Sheet.
The Corporation has no significant exposures to any concentrations of credit risk.