Territory Stories

Annual report 2003-2004, Department of Corporate and Information Services

Details:

Title

Annual report 2003-2004, Department of Corporate and Information Services

Other title

Department of Corporate and Information Services annual report 2003 - 2004

Creator

Northern Territory. Department of Corporate and Information Services

Collection

E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report

Date

2004-10-14

Notes

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

Language

English

Subject

Northern Territory. Department of Corporate and Information Services -- Periodical

Publisher name

Northern Territory Government

Place of publication

Darwin

Series

Department of Corporate and Information Services annual report; Annual report

Volume

2003/2004

File type

application/pdf

ISSN

1835-2332

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/10070/231111

Citation address

https://hdl.handle.net/10070/669431

Page content

NT Fleet Financial Statements 177 2004 $'000 2003 $'000 16 NOTES TO THE STATEMENT OF CASHFLOWS Reconciliation of net profit from ordinary activities after income tax to net cash used in operations Net Profit 4,878 4,716 Non-Cash Items Depreciation 11,506 11,079 Net profit on disposal of non-current assets (1,673) (1,650) Changes in Assets and Liabilities Decrease/(Increase) in trade and other receivables (339) 498 (Increase) in inventory (1) (1) Decrease/(Increase) in interest receivable 9 (4) (Increase) in prepayments (2) (Increase) in other assets - (170) Increase/(Decrease) in trade and other creditors (293) 371 (Decrease)/Increase in provision for employee benefits (11) 26 Increase in other provisions 9 1 Decrease in GST 165 157 Increase in income tax liabilities 70 432 (Decrease) in deferred income - (2) Net cash flows from operating activities 14,319 15,453 17 SERVICES RECEIVED FREE OF CHARGE Internal audits and reviews - 20 - 20 18 FINANCIAL INSTRUMENTS A financial instrument is any contract resulting in a financial asset of one entity and a financial liability of another entity. The entitys operating account earns quarterly interest at a variable interest rate (NT Treasury Corporations weighted average cash return less 50 basis points). An existing loan of $2,250,000 borrowed from NT Treasury Corporation was paid out in full on 19th January 2004. Interest on this loan was charged at 6.07% p a. An overdraft facility is available to the extent of $2,000,000 with interest payable quarterly at a variable rate (NT Treasury Corporations weighted average cash return plus 50 basis points). (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.


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