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
2004-10-14
Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).
English
Northern Territory. Department of Corporate and Information Services -- Periodical
Northern Territory Government
Darwin
Department of Corporate and Information Services annual report; Annual report
2003/2004
application/pdf
1835-2332
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
https://creativecommons.org/licenses/by/4.0
https://hdl.handle.net/10070/231111
https://hdl.handle.net/10070/669431
Data Centre Services Financial Statements 155 19 FINANCIAL INSTRUMENTS (continued) (a) Interest Rate Risk The entitys exposure to interest rate risk and the average interest rate for classes of financial assets and financial liabilities is set out below. The average interest rate is based on the outstanding balance at the start of the year. Weighted Variable Fixed Interest Maturity Non- Total Average interest rate % Interest $000 Under 1 year $'000 1 to 5 years $'000 Over 5 years $'000 interest bearing $'000 $'000 2004 Financial Assets Cash assets 5.00 4,745 - - - - 4,745 Receivables - - - - 218 218 4,745 - - - 218 4,963 Financial Liabilities Payables - - - - 613 613 Employee Benefits - - - - 418 418 Dividends Payable - - - - 1,177 1,177 - - - - 2,208 2,208 Net Financial Assets/ (Liabilities) 4,745 - - - (1,990) 2,755 2003 Financial Assets Cash assets 4.50 2,507 - - - - 2,507 Receivables - - - - 1,311 1,311 2,507 - - - 1,311 3,818 Financial Liabilities Payables - - - - 892 892 Lease Liabilities 5.29 - 1,154 - - - 1,154 Dividends Payable - - - - 560 560 Employee Benefits - - - - 427 427 - 1,154 - - 1,879 3,033 Net Financial Assets/ (Liabilities) 2,507 (1,154) - (568) 785 (b) Credit risk In respect of any dealings with organisations external to Government, the entity 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 entitys maximum exposure to credit risk without taking account of the value of any collateral or other security obtained.