Department of Corporate and Information Services annual report 2016-17
Annual report 2016-17
Northern Territory. Department of Corporate and Information Services
E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report
2017
Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).
English
Northern Territory. Department of Corporate and Information Services -- Periodical
Northern Territory Government
Darwin
Department of Corporate and Information Services annual report; Annual report
2016/2017
application/pdf
1835-2332
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
https://creativecommons.org/licenses/by/4.0
https://hdl.handle.net/10070/304926
https://hdl.handle.net/10070/361114
Annual Report 2016-17 | Department of Corporate and Information Services 173 NT FLEET FINANCIAL REPORT 17. Notes to the Cash Flow Statement RECONCILIATION OF CASH The total of NT Fleet 'Cash and deposits' of $24 million recorded in the Balance Sheet is consistent with that recorded as Cash in the Cash Flow Statement. Reconciliation of Net Surplus to Net Cash from Operating Activities 2017 $000 2016 $000 Net Surplus 7 097 6 922 Non-cash items: Depreciation and amortisation 17 076 16 851 (Gain)/Loss on disposal of assets (3 375) (2 954) Changes in assets and liabilities: Decrease/(Increase) in receivables 253 1 034 Decrease/(Increase) in prepayments (3) (1) Decrease/(Increase) in other assets - (Decrease)/Increase in payables (33) 34 (Decrease)/Increase in provision for employee benefits 5 (43) (Decrease)/Increase in other provisions 77 (379) (Decrease)/Increase in deferred income (307) 35 Net Cash from Operating Activities 20 790 21 501 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 NT Fleet include cash and deposits, receivables, payables and finance leases. NT Fleet 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 NT Fleet becomes a party to the contractual provisions of the financial instrument. NT Fleets 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. NT Fleets investments, loans and placements, and borrowings are predominantly managed through the Northern Territory Treasury Corporation (NTTC) adopting strategies to minimise the risk.