TIO MAC Report Statement of Corporate Intent 1 July 2008-30 June 2009
Tabled paper 541
Tabled Papers for 11th Assembly 2008 - 2012; Tabled Papers; ParliamentNT
2009-10-19
Deemed paper
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
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https://www.legislation.gov.au/Details/C2019C00042
https://hdl.handle.net/10070/280445
https://hdl.handle.net/10070/416074
MAC BALANCE SHEET AS AT JUNE 2009 Year to date Actual Budget Variance Variance % CURRENT ASSETS Cash assets Receivables Investments Reinsurance and other recoveries receivable Deferred reinsurance expense Deferred acquisition costs 8,734,607 1,706,874 292,590,664 28,529,526 7,000,000 2,100,000 350,835,588 26,792,105 1,734,607 (393,126) (58,244,924) 1,737,421 24.8% (18.7%) (16.6%) 6.5% 0 0 227,551 200,000 27,551 13.8% Total Current Assets 331,789,222 386,927,693 (55,138,471)1 (14.3%)] NON-CURRENT ASSETS Investments Plant & Equipment Reinsurance and other recoveries receivable Deferred tax assets Total Non-Current Assets 31,350,000 2,713,014 24,314,000 926,500 7,036,000 1,786,514 28.9% 34,063,014 25,240,500 8,822,514 35.0% Total Assets 365,852,236 412,168,193 (46,315,957) (11.2%) CURRENT LIABILITIES Outstanding claims Unearned premiums Creditors Unexpired Risk Total Current Liabilities (255,233,339) (22,755,108) (3,307,295) (253,895,943) (21,882,178) (5,850,000) (1,337,396) (872,930) 2,542,705 | 0.5% 4.0% (43.5%) 0 0 (281,295,742) (281,628,^21) 332,380 (0.1%) NON-CURRENT LIABILITIES Deferred tax liabilities Net unearned FSL Subordinated loan 0 0 Total Non-Current Liabilities 0 0 0 Total Liabilities (281,295,742) (281,628,121) 332,380 (0.1%) I Net Assets 84,556,495 130,540,072 (45,983,577)] (35.2%) EQUITY Accumulated Profits/(loss) AIFRS Adj to Accumulated Profits/(Loss) 84,556,495 130,540,072 (45,983,577) (35.2%) 0 0 Total Equity 84,556,495 130,540,072 (45,983,577)1 (35.2%)