Annual report 2003-2004, Department of Corporate and Information Services
Department of Corporate and Information Services annual report 2003 - 2004
Northern Territory. Department of Corporate and Information Services
E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report
Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).
Northern Territory. Department of Corporate and Information Services -- Periodical
Northern Territory Government
Department of Corporate and Information Services annual report; Annual report
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
DCIS General Financial Statements 112 13 FINANCIAL INSTRUMENTS (Continued) Fixed Interest Maturity Weighted Average interest rate % Variable interest $000 Under 1 year $000 1 to 5 years $000 Over 5 years $000 Non- Interest bearing $000 Total $000 2003 Financial Assets Cash assets 4.5% 386 3,957 4,343 Receivables 2,001 2,001 5,958 6,344 Financial Liabilities Accounts payable 1,874 1,874 Lease liabilities 1,874 1,874 Net Financial Assets/(Liabilities) 386 4,084 4,470 (b) Credit risk The Agency principally deals with Government Agencies. In respect of any dealings with organisations external to Government, the Agency has adopted the 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 provisions for losses, represents the Agencys maximum exposure to credit risk without taking account of the value of any collateral or other security obtained. 2004 $000 2003 $000 14 COMMITMENTS (i) Non-cancellable operating lease expense commitments Future operating lease commitments not provided for in the financial statements and payable: Within one year 32,428 32,277 One year and no later than five years 84,705 70,143 Greater than five years 70,679 53,649 187,812 156,069 The Agency leases property under non-cancellable operating leases expiring from 1 month to 25 years. Leases generally provide the Agency with a right of renewal at which time all terms are negotiated. (ii) Other non-cancellable contract commitments Other future commitments not provided for in the financial statements and payable: Within one year - 8 One year and no later than five years Greater than five years - 8
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