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Belyuen Community Government Council annual report 2018-19



Belyuen Community Government Council annual report 2018-19


Belyuen Community Government Council


E-Publications; E-Books; PublicationNT; Belyuen Community Government Council annual report; Annual Report




Made available via the Publications (Legal Deposit) Act 2004 (NT).




Belyuen Community Government Council; Local government; Periodical

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Belyuen Community Government Council

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Belyuen Community Government Council annual report; Annual Report



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Belyuen Community Government Council



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BELYUEN COMMUNITY GOVERNMENT COUNCIL 27 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 NOTE 6: TRADE AND OTHER RECEIVABLES (Contd) Credit Risk Credit risk is the risk of financial loss to the Council if a customer or counterparty to a financial instrument fails to meet its contractual obligations. Exposure to credit risk is monitored by management on an ongoing basis. The maximum exposure to credit risk, excluding the value of any collateral or other security, is limited to the total carrying value of financial assets, net of any provisions for impairment of those assets, as disclosed in the balance sheet and notes to the financial statements. The Council does not have any material credit risk exposure to any single debtor or group of debtors under financial instruments entered into by the Council. The following table details the Councils trade and other receivables exposed to credit risk with ageing analysis. The balances of receivables that remain within 30 days are considered to be of high credit quality. 2019 2018 $ $ Receivables are aged as follows: Current 1 30 days 5,960 14,875 31 60 days 3,818 11,748 61 90 days 2,893 1,568 Over 90 days 23,636 34,543 36,307 62,734 The provision for doubtful debts is age as follows: Over 90 days 4,856 2,758 NOTE 7: OTHER ASSETS CURRENT Prepayments 101,725 96,228 Total Other Assets 101,725 96,228 NOTE 8: INVENTORY CURRENT Store Inventory 35,839 63,831 Total Inventory 35,839 63,831 All inventories are expected to be sold within 12 months.

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