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

Department of Construction and Infrastructure Financial Report 2010-2011 92 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 Department of Construction and Infrastructure (DCI) include cash and deposits, receivables and payables. DCI has limited exposure to financial risks as discussed below. (a) Categorisation of Financial Instruments The carrying amounts of DCIs financial assets and liabilities by category are disclosed in the table below. 2011 2010 $000 $000 Financial Assets Cash and deposits 23,278 13,190 Fair value through profit and loss (FVTPL): Designated as at FVTPL 287 462 Financial Liabilities Fair value through profit and loss (FVTPL): Designated as at FVTPL 8,261 5,763 (b) Credit Risk DCI has limited credit risk exposure (risk of default). In respect of any dealings with organisations external to Government, DCI 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 DCIs 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 4,745 4,745 Overdue for more than 60 Days 33 33 Total 4,778 4,778 Reconciliation of the Allowance for Impairment Losses(a) Opening 33 33 Decrease in allowance recognised in profit or loss (4) (4) Total 29 29 2009-10 Not Overdue 4,932 - 4,932 Overdue for more than 60 Days 1 - 1 Total 4,933 - 4,933 Reconciliation of the Allowance for Impairment Losses(a) Increase in allowance recognised in profit or loss - 33 33 Total - 33 33 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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