Department of Corporate and Information Services annual report 2016-17
Northern Territory. Department of Corporate and Information Services
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Northern Territory. Department of Corporate and Information Services -- Periodical
Northern Territory Government
Department of Corporate and Information Services annual report; Annual report
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Northern Territory Government
Annual Report 2016-17 | Department of Corporate and Information Services 137 DEPARTMENT OF CORPORATE AND INFORMATION SERVICES - FINANCIAL REPORT 17. Notes to the Cash Flow Statement RECONCILIATION OF CASH The total of DCIS 'Cash and deposits' of $46.8 million recorded in the Balance Sheet is consistent with that recorded as Cash in the Cash Flow Statement. Reconciliation of Net Surplus/(Deficit) to Net Cash from Operating Activities 2017 $000 2016 $000 Net Surplus/(Deficit) 12 157 2 717 Non-cash items: Depreciation and amortisation 5 913 5 112 Asset write-offs/write-downs - 38 Asset donations/gifts - (Gain)/Loss on disposal of assets - Repairs and maintenance minor new works (non-cash) 465 Changes in assets and liabilities: Decrease/(Increase) in receivables 1 642 (245) Decrease/(Increase) in prepayments (1 259) 510 Decrease/(Increase) in other assets - (Decrease)/Increase in payables 1 761 (1 421) (Decrease)/Increase in provision for employee benefits 228 (64) (Decrease)/Increase in other provisions 58 (135) (Decrease)/Increase in other liabilities (15) 15 Net Cash from Operating Activities 20 950 6 527 NON-CASH FINANCING AND INVESTING ACTIVITIES DCIS has no finance lease commitments. 18. Financial Instruments A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments held by DCIS include cash and deposits, receivables, and payables. DCIS has limited exposure to financial risks as discussed below. FINANCIAL INSTRUMENTS A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial assets and liabilities are recognised on the Balance Sheet when DCIS becomes a party to the contractual provisions of the financial instrument. DCIS financial instruments include cash and deposits; receivables; advances; investments loan and placements; payables; advances received; borrowings and derivatives. Due to the nature of operating activities, certain financial assets and financial liabilities arise under statutory obligations rather than a contract. Such financial assets and liabilities do not meet the definition of financial instruments as per AASB 132 Financial Instruments Presentation. These include statutory receivables arising from taxes including GST and penalties. Exposure to interest rate risk, foreign exchange risk, credit risk, price risk and liquidity risk arise in the normal course of activities. DCISs investments, loans and placements, and borrowings are predominantly managed through the Northern Territory Treasury Corporation (NTTC) adopting strategies to minimise the risk. Derivative financial arrangements are also utilised to manage financial risks inherent in the management of these financial instruments. These arrangements include swaps, forward interest rate agreements and other hedging instruments to manage fluctuations in interest or exchange rates.
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