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
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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