Horsham Annual Report 2011 - 2012
107
HORSHAM RURAL CITY COUNCIL
NOTES TO THE FINANCIAL REPORT (Cont.) FOR THE YEAR ENDED 30th JUNE, 2012
36 FINANCIAL INSTRUMENTS (Cont.)
(b) Interest Rate Risk The Council's exposure to interest rate risk and the effective interest rates of financial assets and financial liabilities, both recognised and unrecognised, at balance date are as follows: Fixed Interest maturing In
Floating Interest Rate 1 Year or Less
2012 $'000
Financial Assets Cash & Cash Equivalents Trade & Other Receivables Accrued Income
Total financial assets
Financial Liabilities Trade & Other Payables Trust Funds and deposits Interest Bearing Liabilities Total financial liabilities
Net Financial Assets/(Liabilities)
877 - -
877
- - -
- 877
2011 $'000
2012 $'000
- -
2011 $'000
1,968 13,529 17,885 - -
- -
1,968 13,529 17,885
- - -
-
- -
737 737
- -
626 626
Over 1 to 5 Years
2012 $'000
- - - -
2,972 -
2,251 5,223
2011 $'000
- - - -
- -
2,559 2,559
Over 5 Years
2012 $'000
- - - -
- -
2,017 2,017
2011 $'000
- - - -
- -
1,447 1,447
1,968 12,792 17,259 (5,223) (2,559) (2,017) (1,447)
Non Interest Bearing Total Carrying Amount Weighted Average Interest Rate
2012 $'000
105
2,547 5,516 8,168
3,463 579 -
4,042 4,126
(c) Net Fair Value The aggregate net fair values of financial assets and financial liabilities, both recognised and unrecognised, at balance date are as follows:
Total Carrying Amount as per Balance Sheet
Financial Instruments
1) Financial assets Cash and Cash Equivalents Trade and Other Receivables Accrued income
Total Financial Assets
2) Financial liabilities Trade and Other Payables Trust Funds and deposits Interest Bearing Liabilities Total Financial Liabilities
2012 $'000
2011 $'000
2,561 3,676
Aggregate Net Fair Value
2012 $'000
2,342 5,516
2011 $'000
14,511 20,004 14,511 20,004 2,547 5,516
2,355 3,676
22,574 26,241 22,369 26,035
6,435 579
5,006 12,020
4,411 561
4,632
6,435 579
5,006 9,604 12,020
4,411 561
4,632 9,604
(d) Credit Risk The maximum exposure to credit risk at balance date in relation to each class of recognised financial asset is represented by the carrying amount of those assets as indicated in the Balance Sheet.
2011 $'000
2,561 3,676
2012 $'000
2011 2012 $'000 %
151 14,511 20,004 4.36 2,547 5,516
6,388 22,574 26,241
4,411 561 -
6,435 579
5,006 4,972 12,020
4,411 561
4,632 6.56 9,604
1,416 10,554 16,637
2,561 10.50 3,676
2011 %
4.77
- -
- -
-
10.50 - -
- -
6.72 -
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