annual report 2011â12 - Parliament of New South Wales - NSW ...

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A.C.N. 156 211 906 Pty Ltd Notes to the financial statements For the period from 12 March 2012 to 30 June 2012 21. Financial Instruments (cont’d) This note presents information about the Group’s exposure to liquidity, credit and market price risk and its objectives, policies and processes for measuring and managing risk. Further quantitative disclosures are included throughout these financial statements. (b) Financial Instruments categories: (c) Liquidity risk Liquidity risk is the risk that the Group will not be able to fund its obligations as they fall due. The Group manages liquidity risk by monitoring forecast cash flows and ensuring that adequate liquid funds are available to meet normal operating expenses. Where the forecast cash flows have identified a liquidity shortfall, the Group board submits a funding request to Transport for NSW, as the sole shareholder, for bridging finance to meet this shortfall. (d) Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Group manages credit risk by monitoring regularly its trade and other receivables. The Group’s credit risk is minimal on the basis of materiality of the Group’s trade and other receivables. The Group does not carry “past due” or impaired debtors at balance date. (e) Market price risk Market price risk is the risk that changes in market prices such as interest rates, foreign exchange rates, and equity prices will affect the Group’s income or the value of its holdings of financial instruments. The Group is not exposed to changes in market prices that will affect the Group’s financial performance as detailed below: 222 Transport for NSW Annual Report 2011–12
21. Financial Instruments (cont’d) (i) Interest rate risk A.C.N. 156 211 906 Pty Ltd Notes to the financial statements For the period from 12 March 2012 to 30 June 2012 Interest rate risk refers to the risk that the value of financial instruments or cash flows associated with the instrument will fluctuate due to changes in market interest rates. The Group has no material exposure to interest rate fluctuations on its cash at bank and cash on deposit. It does not have a material risk in relation to its interest-bearing loans. Sensitivity analysis: A change of 1% in interest rates at the reporting date would, with all other variables held constant, would have minimal impact on the Group’s profits. (ii) Currency risks Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Group has no material exposure to currency risks because it sources its goods and services in Australia. (iii) Equity price risk Equity price risk arises from fluctuations in the market values of available-for-sale securities. The Group does not hold available-for-sale securities and, therefore, has no exposure to equity price risks. 22. Related parties and related-party transactions (a) Directors’ compensation The directors who are all officers of the Transport for NSW, act in an honorary capacity and receive no compensation for their services or reimbursement of incidental expenses. Financial statements (b) Transactions with director related entities and economic dependency All transactions between the Group and director related entities are disclosed in Note 7 above. The Group is dependent on the ongoing strategic, financial, and technical support of Transport for NSW to ensure the continuance of its operations. The directors of A.C.N. 156 211 906 Pty Ltd are also officers of Transport for NSW. (c) Key management personnel compensation Mr K. Warrell is the Chief Executive of the Metro Transport Sydney Pty Ltd and its Group. The compensation paid to Mr K Warrell was $68K. 23. After balance date events No adjusting or significant non-adjusting events have occurred between the reporting date and the date of authorisation. End of audited financial statements Financial statements 223
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ANNUAL REPORT 2011-12
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Contents Overview 2 Director Genera
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Overview We place the customer at t
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NSW 2021 NSW 2021 is the NSW Govern
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Interim Corporate Plan Overview Tra
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Corporate Framework The Results in
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Job Descriptions Director General
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How Transport has changed It has be
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Operational performance Operational
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The insights gained from researchin
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Poster image used to promote the ne
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Responding to customer feedback Tra
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Travel Waratah train fleet Sydney
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Central Sydney Traffic and Transpor
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Accessibility South West Rail Link
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Barangaroo Integrated Transport Pla
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Vehicle registration initiatives A
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Asset Asset enhancements TfNSW is w
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NSW speed zones reviewed A State-wi
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Figure 2 - Trends in Road Fatalitie
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National Rail Safety Regulator All
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Review of GIPA functions All NSW Go
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• TfNSW’s payroll system was es
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Financial performance summary Durin
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Department of Transport Financial s
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Financial statements Financial stat
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Department of Transport Statement o
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Department of Transport Statement o
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Department of Transport Service gro
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Department of Transport Service gro
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Department of Transport Summary of
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Department of Transport Notes to th
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Financial statements Financial stat
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Transport for NSW Statement of comp
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Transport for NSW Statement of chan
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Transport for NSW Service group sta
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Transport for NSW Service group sta
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Transport for NSW Notes to the fina
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Page 173 and 174: Transport for NSW Notes to the fina
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Page 205 and 206: 1. Corporate Information A.C.N. 156
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Page 219 and 220: 9. Business combination A.C.N. 156
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Page 227 and 228: Sydney Metro Financial statements F
Page 251 and 252: Appendices Appendices Appendices 24
Page 253 and 254: Appendix 1: Acts administered by th
Page 255 and 256: Director General, Transport NSW v A
Page 257 and 258: Table B: Number of applications by
Page 259 and 260: Number of access applications recei
Page 261 and 262: Appendix 5: Management and structur
Page 263 and 264: • Instigated substantial progress
Page 265 and 266: Name: Anthony Braxton-Smith Positio
Page 267 and 268: Name: Arthur Diakos Position: Chief
Page 269 and 270: Name: John Karaboulis Position: Exe
Page 271 and 272: Name: Stephen Enticott Position: Ge
Page 273 and 274: Name: Anthony Wing Position: Genera
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Name: Bevan Brown Position: Technic
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Name: Anand Thomas Position: Projec
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Performance indicator 09/10 10/11 1
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Internal reviews During the year th
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Previous year’s Announced Announc
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Appendix 7: Response to matters rai
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Appendix 14: Internal audit and ris
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Appendix 15: Risk management and in
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Appendix 17: Human Resources In 201
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Movement in salaries, wages and all
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Appendix 19: Occupational Health an
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Outcome areas Targets Actual Perfor
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Transport Pathways to Good Dental H
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Appendix 24: Payment of accounts Pa
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Appendix 26: Grants to non-governme
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Community Transport Service Provide
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LGA State electorate Proponent Proj
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Appendix 29: Research and developme
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Appendix 31: Bus contract region ma
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Appendix 33: CountryLink network ma
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Index Index Index 319
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N S Summary review of operations 4
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Local and Community Transport Regio
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