133 q Annual Report 2013-2014


HORSHAM RURAL CITY COUNCIL


NOTES TO THE FINANCIAL STATEMENT (Cont.) FOR THE YEAR ENDED 30th JUNE, 2014


36 FINANCIAL INSTUMENTS (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


2014 $'000


Financial Assets Cash & Cash Equivalents Trade & Other Receivables Financial Assets Accrued Income


Total financial assets


Financial Liabilities Trade & Other Payables Trust Funds and deposits Interest Bearing Liabilities Total financial liabilities


Net Financial Assets/(Liabilities)


1,470 - - -


1,470


- - - -


1,470


2013 $'000


1 Year or Less


2014 $'000


-


2013 $'000


744 15,576 19,126 - - -


3,000 -


- - - -


- -


561 561


- - -


744 18,576 19,126


- -


778 778


Over 1 to 5 Years


2014 $'000


- - - - -


- -


1,845 1,845


2013 $'000


- - - - -


- -


1,924 1,924


Over 5 Years


2014 $'000


- - - - -


- -


1,086 1,086


2013 $'000


- - - - -


- -


1,567 1,567


744 18,015 18,348 (1,845) (1,924) (1,086) (1,567) Non Interest Bearing


2014 $'000


2,149 2,375 -


1,164 5,688


3,914 654 -


4,568 1,120


(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 Financial Assets Accrued income


Total Financial Assets


2) Financial liabilities Trade and Other Payables Trust Funds and deposits Interest Bearing Liabilities Total Financial Liabilities


2014 $'000


2013 $'000


2,674 -


Aggregate Net Fair Value


2014 $'000


1,522


2,197 3,000 1,164


3,914 654


3,492 8,060


2013 $'000


19,195 19,985 19,195 19,985 2,375 3,000 1,164


3,914 654


3,492 8,060


4,225 700


4,269 9,194


2,265 -


1,522 25,734 24,181 25,556 23,772


4,225 700


4,269 9,194


(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.


2013 $'000


2,674 -


Total Carrying Amount


2014 $'000


2013


Weighted Average Interest Rate


2014 $'000 % 1,522


4,225 700 -


4,925


115 19,195 19,985 3.18 2,375 3,000 1,164


1,522 4,311 25,734 24,181


3,914 654


3,492 8,060


4,225 700


2,674 10.50 -


3.25


- -


- -


4,269 6.55 9,194


(614) 17,674 14,987 -


2013 %


4.36


10.50 - - -


- -


6.56 -


Page 52


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