HORSHAM RURAL CITY COUNCIL


NOTES TO THE FINANCIAL REPORT (Cont.) FOR THE YEAR ENDED 30th JUNE, 2012


25 INTEREST BEARING LOANS AND BORROWINGS Current


Loans - secured


Non-current Loans - secured


2012 2011 $$


------------------- -------------------- 725,248


614,493 =========== ============ 4,238,305


Security for Borrowings The bank loans and overdraft are secured over the general rates of Council.


The Maturity profile for Council's borrowings is: Not later than one year


Later than one year and not later than five years Later than five years


725,248


2,220,884 2,017,421


614,493


2,516,806 1,446,747


------------------- -------------------- 4,963,553


4,578,046 =========== ============


Finance Leases Council has the following obligations under finance leases for the lease of equipment (the sum of which is recognised as a liability after deduction of future lease finance charges included in the obligation): Not later than one year


Later than one year and not later than five years


Current Leases


Non-current Leases


3,963,553 =========== ============


Page 36


11,457 30,553


11,457 42,010


------------------- -------------------- 42,010


53,467


=========== ============ 11,457


11,457 =========== ============ 42,010


Aggregate carrying amount of interest-bearing loans and borrowings: Current


Non-current 736,705


------------------- -------------------- 5,005,563


4,268,858


4,005,563 4,631,513


=========== ============


26 EQUITY - ACCUMULATED SURPLUS Rate determination surplus/(deficit)


Accruals adoption component 625,950


=========== ============ 30,553


6,328,224 12,242,365 207,221,577 189,071,009


------------------- -------------------- 213,549,801 201,313,374 =========== ============


98 Horsham Annual Report 2011 - 2012


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