Annual Report 2016-2017 Department of the Legislative Assembly
Tabled paper 405
Tabled Papers for 13th Assembly 2016 - 2020; Tabled Papers; ParliamentNT
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DEPARTMENT OF THE LEGISLATIVE ASSEMBLY NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2017 DLA Annual Report 2016-17 Page 38 2017 2016 $000 $000 8. CASH AND DEPOSITS Cash on hand 5 5 Cash at bank 5,315 4,659 5,320 4,664 For the purposes of the Balance Sheet and the Cash Flow Statement, cash includes cash on hand, cash at bank and cash equivalents. Cash equivalents are highly liquid short-term investments that are readily convertible to cash. Cash at bank includes monies held in the Accountable Officers Trust Account (AOTA) that are ultimately payable to the beneficial owner refer also to Note 25. 9. RECEIVABLES Current Accounts receivable 15 35 Less: Allowance for impairment losses - - GST receivables 69 62 Other receivables 14 - 98 97 Non-Current Other receivables - - - - Total Receivables 98 97 Receivables include accounts receivable and other receivables and are recognised at fair value less any allowance for impairment losses. The allowance for impairment losses represents the amount of receivables the agency estimates are likely to be uncollectible and are considered doubtful. Analyses of the age of the receivables that are past due as at the reporting date are disclosed in an aging schedule under credit risk in Note 21 Financial Instruments. Reconciliation of changes in the allowance accounts is also presented. Accounts receivable are generally settled within 30 days and other receivables within 30 days. Prepayments Prepayments represent payments in advance of receipt of goods and services or that part of expenditure made in one accounting period covering a term extending beyond that period.