HORSHAM RURAL CITY COUNCIL
NOTES TO THE FINANCIAL REPORT (Cont.) FOR THE YEAR ENDED 30th JUNE, 2012
36 FINANCIAL INSTRUMENTS (Cont.)
(e) Risks and mitigation (cont.) The ageing of Trade and Other Receivables that have been individually determined as impaired at reporting date was:
2012
Past due between 31 and 180 days Past due between 181 and 365 days Past due by more than 1 year
Total Receivables 2011 $$
--------------- ----------------- 7,866 -
805 2,838 55,423
--------------- ----------------- 63,289
41,341 44,984
======== ==========
Liquidity risk Liquidity risk includes the risk that, as a result of our operational liquidity requirements: - we will not have sufficient funds to settle a transaction on the date; - we will be forced to sell financial assets at a value which is less than what they are worth; or - we may be unable to settle or recover a financial assets at all.
To help reduce these risks we: - have readily accessible standby facilities and other funding arrangements in place; - have a liquidity portfolio structure that requires surplus funds to be invested within various bands of liquid instruments; - monitor budget to actual performance on a regular basis; and - set limits on borrowings relating to the percentage of loans to rate revenue and percentage of loan principal.
The Council's exposure to liquidity risk is deemed insignificant based on prior periods' data and current assessment of risk.
The table below lists the contractual maturities for Council's Financial Liabilities. These amounts represent undiscounted gross payments including both principal and interest amounts.
2012
Trade and other payables
Trust funds and
deposits Interest-bearing
loans and liabilities 2011
Trade and other payables
Trust funds and
deposits Interest-bearing
loans and liabilities 110 Horsham Annual Report 2011 - 2012
6 mths Between Between Between Over 5 Contracted Carrying or less 6 - 12 mths 1 - 2 years 2 - 5 years years Cash Flows Amount $ '000 $ '000 $ '000 3,463
-
579 468
- 437 2,972 - 1,030
$ '000 $ '000 -
- - 2,431 - 2,907 $ '000
6,435 579
7,273 $ '000
6,435 579
5,006
6 mths Between Between Between Over 5 Contracted Carrying or less 6 - 12 mths 1 - 2 years 2 - 5 years years Cash Flows Amount $ '000 $ '000 $ '000 4,411
-
561 400
- 368 - - 905
$ '000 $ '000 -
- - 2,419 - 2,629 $ '000
4,411 561
6,721
Page 48
$ '000
4,411 561
4,632
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