Annual Report 2003/2004 Department of Business Industry and Resource Development
Tabled paper 1496
Tabled Papers for 9th Assembly 2001 - 2005; Tabled papers for 9th Assembly 2001 - 2005; Tabled papers; ParliamentNT
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An nu al R ep or t (a) Credit risk The agency principally deals with Government agencies. In respect of any dealings with organisations external to Government, the Agency has adopted the policy of only dealing with credit worthy organisations and obtaining sufficient collateral or other security where appropriate, as a means of mitigating the risk of financial loss from defaults. The carrying amount of financial assets recorded in the financial statements, net of any provisions for losses, represents the agencys maximum exposure to credit risk without taking account of the value of any collateral or other security obtained. (b) Net Fair Values The carrying amount of financial assets and financial liabilities recorded in the financial statements represents their respective net fair values. 2004 2003 SOOO S'000 16 COMMITMENTS Estimated capital expenditure contracted for at balance date but not provided for and payable: Within one year 34 56 One year or no later than five years Nil Nil Greater than five years Nil Nil / 34 iy 56 17 CONTINGENT LIABILITIES AND CONTINGENT ASSETS NIL. 18 EVENTS SUBSEQUENT TO BALANCE DATE NIL. 19 DEPOSITS HELD ACCOUNTABLE OFFICER'S TRUST ACCOUNT Nature of Trust Money Opening Balance 01/07/03 Receipts Payments Closing Balance 30/06/04 Compensation Liabilities 226 121 1 346 Aboriginal Land Rents J 736 1 251 1 439 548 Bond 1 285 241 193 1 333 Miscellaneous 10 61 5 . 66 Award Money 23 - 1 22 Levy Money 33 106 137 BTEC Loan repayment to Cwth 3 180 3 180 2 J14 1960 1 777 2 497 CLEARING ACCOUNTS Opening Balance 01/07/03 Receipts Payments Closing Balance 30/06/04 35 - 24 110 Department of Business, Industry & Resource Development
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