Annual Report 2012/2013 Department of Housing
Tabled paper 575
Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT
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The following table detail the agency's remaining contractual maturity for its financial assets and liabilities. It should be noted that these values are undiscounted, and conseguently, totals may not reconcile to the carrying amounts presented in the Balance Sheet. Interest Bearing More Non Lessthan Fixed or a Year Variable $000 1 to 5 than 5 Interest Years Years Bearing $000 $000 $000 $000 Weighted Total Average2013 Maturity analysis for financial assets and liabilities % ASSETS Cash and deposits Receivables Advances Investment, loans and placements TOTAL FINANCIAL ASSETS 86 207 86 207 3 727 3 727 1 223 1 223 91 157 91 157 LIABILITIES Deposits held and unearned revenue Payables Provisions Borrowings Finance lease liabilities 7 648 7 648 21 861 21 861 6 554 6 554 81 028 15 594 15 594 79 665 5 1 657 132 685 1 363 79 665 12.90 TOTAL FINANCIAL LIABILITIES 1 363 d) Market Risk Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. It comprises interest rate risk, price risk and currency risk. i. Interest Rate Risk The Department of Housing has limited exposure to interest rate risk as agency Financial assets and financial liabilities, with the exception of Treasury loans, are non-interest bearing. Finance lease arrangements are established on a fixed interest rate and as such do not expose the Department of Housing to interest rate risk. ii. Price Risk The Department of Housing is not exposed to price risk as it does not hold units in unit trusts. iii. Currency Risk The Department of Housing is not exposed to currency risk as it does not hold borrowings denominated in foreign currencies or transactional currency exposures arising from purchases in a foreign currency. e) Net Fair Value The fair value of financial instruments is estimated using various methods. These methods are classified into the following levels: Level 1 - derived from quoted prices in active markets for identical assets or liabilities. Level 2 - derived from inputs other than quoted prices that are observable directly or indirectly. Level 3 - derived from inputs not based on observable market data. 80 DEPARTMENT OF HOUSING ANNUAI REPORT 2012-13
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