Department of Construction and Infrastructure annual report 2010-2011
Northern Territory. Department of Construction and Infrastructure
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Northern Territory. Department of Construction and Infrastructur; Public works; Construction industry; Infrastructure (Economics); Periodicals; Annual report
Northern Territory Government
Department of Construction and Infrastructure annual report; Annual Report
Department of Infrastructure
Department of Planning and Infrastructure
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Northern Territory Government
CONSTRUCTION DIVISION Department of Construction and Infrastructure Financial Report 2010-2011 113 Market Sensitivity Analysis Changes in the variable rates of 100 basis points (1 per cent) at reporting date would have the following effect on Construction Divisions profit or loss and equity. Profit or Loss and Equity 100 basis points increase 100 basis points decrease $000 $000 30 June 2011 Financial assets cash at bank 66 (66) Net Sensitivity: 66 (66) 30 June 2010 Financial assets cash at bank 220 (220) Net Sensitivity: 220 (220) ii) Price Risk The Construction Division is not exposed to price risk as it does not hold units in unit trusts. iii) Currency Risk The Construction Division 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. 14. FINANCIAL INSTRUMENTS (continued) (e) Net Fair Value The carrying amount of financial assets and financial liabilities recorded in the financial statements approximates their respective net fair value. Where differences exist, these are not material. 2011 $000 2010 $000 15. COMMITMENTS Operating Lease Commitments The Construction Division leases property under noncancellable operating leases expiring in 3 years. Leases generally provide the Construction Division with a right of renewal at which time all lease terms are renegotiated. The Agency also leases items of plant and equipment under non-cancellable operating leases. Future operating lease commitments not recognised as liabilities are payable as follows: Within one year 107 107 Later than one year and not later than five years 170 276 277 383 16. CONTINGENT LIABILITIES AND CONTINGENT ASSETS a) Contingent liabilities The Construction Division has entered into agreements which contain indemnity clauses. The contingent liability arising from the indemnities are unquantifiable, but expected to be immaterial. However, for all the events that would give rise to the liabilities, the entity has comprehensive risk management procedures in place. b) Contingent assets The Construction Division has no contingent assets at 30 June 2011 or 30 June 2010. 17. EVENTS SUBSEQUENT TO BALANCE DATE No events have arisen between the end of the financial year and the date of this report that require adjustment to, or disclosure in these financial statements. 18. WRITE-OFFS, POSTPONEMENTS AND WAIVERS The Construction Division had no write-offs, postponements or waivers in 2010-11 and 2009-10. 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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