Territory Stories

Department of Construction and Infrastructure annual report 2010-2011

Details:

Title

Department of Construction and Infrastructure annual report 2010-2011

Creator

Northern Territory. Department of Construction and Infrastructure

Collection

E-Publications; PublicationNT; E-Books; Department of Construction and Infrastructure annual report; Annual Report

Date

2011

Notes

Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT)

Language

English

Subject

Northern Territory. Department of Construction and Infrastructur; Public works; Construction industry; Infrastructure (Economics); Periodicals; Annual report

Publisher name

Northern Territory Government

Place of publication

Darwin

Series

Department of Construction and Infrastructure annual report; Annual Report

Volume

2009-2010

Now known as

Department of Infrastructure

Previously known as

Department of Planning and Infrastructure

File type

application/pdf

Use

Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government

License

https://creativecommons.org/licenses/by/4.0

Parent handle

https://hdl.handle.net/10070/236244

Citation address

https://hdl.handle.net/10070/642761

Page content

CONSTRUCTION DIVISION Department of Construction and Infrastructure Financial Report 2010-2011 111 14. 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 the Construction Division include cash and deposits, receivables, payables and finance leases. The Construction Division has limited exposure to financial risks as discussed below. (a) Categorisation of Financial Instruments The carrying amounts of the Construction Divisions financial assets and liabilities by category are disclosed in the table below. 2011 2010 $000 $000 Financial Assets Cash and deposits 6,600 21,959 Receivables 12,364 8,329 Financial Liabilities Amortised Cost Payables 3,388 1,824 Deposits held 5,635 11,156 (b) Credit Risk The Agency has limited credit risk exposure (risk of default). In respect of any dealings with organisations external to Government, the Agency has adopted a 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 allowances for losses, represents the Construction Divisions maximum exposure to credit risk without taking account of the value of any collateral or other security obtained. Receivables Receivable balances are monitored on an ongoing basis to ensure that exposure to bad debts is not significant. A reconciliation and aging analysis of receivables is presented below. Aging of Receivables Aging of Impaired Receivables Net Receivables $000 $000 $000 2010-11 Not Overdue 11,490 11,490 Overdue for less than 30 Days 379 379 Overdue for 30 to 60 Days 115 115 Overdue for more than 60 Days 390 10 380 Total 12,374 10 12,364 Reconciliation of the Allowance for Impairment Losses Opening - Increase in allowance recognised in profit or loss 10 10 Total 10 10 Aging of Receivables Aging of Impaired Receivables Net Receivables 2009-10 Not Overdue 7,167 7,167 Overdue for less than 30 Days 837 837 Overdue for more than 60 Days 325 325 Total 8,329 8,329 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011


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