Annual Report - QPAC

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QUEENSLAND PERFORMING ARTS TRUST Note 22 Contingent assets and liabilities Litigation in Progress As at balance date the Trust has no case filed against it in the courts. Other The Trust is not aware of any contingent assets or liabilities of a significant nature at balance date. Note 23 Financial Instruments (a) General Objectives, Policies and Processes The Trust is exposed to risks that arise from its use of financial instruments. This note describes the Trust’s objectives, policies and processes for managing those risks and the methods used to measure them. Further quantitative information in respect of these risks is presented throughout these financial statements. There have been no substantive changes in the Trust’s exposure to financial instrument risks, its objectives, policies and processes for managing those risks or the methods used to measure them from the previous periods unless otherwise stated in this note. The Board of Trustees has overall responsibility for the determination of the Trust’s risk management objectives and policies and, designing and operating processes that ensure the effective implementation of the objectives and policies to the Trust. The Trust’s risk management policies and objectives are therefore designed to minimise the potential impacts of these risks on the results of the Trust, where such impacts may be material. The Risk Management Audit Committee (RMAC) receives quarterly reports from the Trust’s Director of Corporate Services, through which it reviews the effectiveness of the processes put in place and the appropriateness of the objectives and policies it sets. The Trust’s internal auditors also review the risk management policies and processes and report their findings to the RMAC, which in turn reports to the Board. The overall objective of the Board is to set polices that seek to reduce risk as far as possible without unduly affecting the Trust’s competitiveness and flexibility. Further details regarding these policies are set out below: Notes to the Financial <strong>Report</strong> for the year ended 30 June 2009 60
QUEENSLAND PERFORMING ARTS TRUST Note 23 Financial Instruments (cont’d) (b) Interest Rate Risk The exposure to interest rate risks and the effective interest rates of financial assets and financial liabilities, both recognised and unrecognised at balance date are as follows: Financial Assets Floating 1 Year or Non Total Weighted Interest less Interest Average Rate Bearing Rate 2009 2009 2009 2009 2009 $’000 $’000 $’000 $’000 % Cash on hand and at bank 773 – 101 874 3.80% Short term securities – 4,459 – 4,459 5.90% Receivables – – 6,101 6,101 0.00% Financial Liabilities Payables – – 3,477 3,477 0.00% Financial Assets 2008 2008 2008 2008 2008 $’000 $’000 $’000 $’000 % Cash on hand and at bank 165 – 80 245 2.18% Short term securities – 9,057 – 9,057 7.30% Receivables – - 4,264 4,264 0.00% Financial Liabilities Payables – – 2,742 2,742 0.00% Notes to the Financial <strong>Report</strong> for the year ended 30 June 2009 61
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QUE E N SL AND PERFORMING ARTS CE N
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16 September 2009 The Honourable An
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The Best In Live Performance The Qu
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Chairman’s Report I am very pleas
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Director’s Report I am delighted
Page 12 and 13: Organisational Structure QPAC Board
Page 14 and 15: Summary of Outcomes FOCUS PRIORITIE
Page 16 and 17: Entertainment From the spectacle of
Page 18 and 19: Cultural Centre QPAC is ideally pos
Page 20 and 21: a second booking and further commun
Page 22 and 23: Engagement An impressive demonstrat
Page 24 and 25: Industry partners Based on common g
Page 26 and 27: Commercial Opportunities Delivering
Page 28 and 29: Redevelopment In order to deliver i
Page 30 and 31: The Queensland Performing Arts Trus
Page 32 and 33: FUTURE DIRECTION 30 Caroline O’Co
Page 34 and 35: BOARD OF TRUSTEES 32 Doch and the C
Page 36 and 37: a new stage production of The Pirat
Page 38 and 39: JULY LYRIC THEATRE 8 - 12 July Gise
Page 40 and 41: 21 - 22 November Dancing Feet Ashgr
Page 42 and 43: Operating Expenditure for the year
Page 44 and 45: QUEENSLAND PERFORMING ARTS TRUST IN
Page 46 and 47: QUEENSLAND PERFORMING ARTS TRUST CA
Page 48 and 49: QUEENSLAND PERFORMING ARTS TRUST NO
Page 50 and 51: QUEENSLAND PERFORMING ARTS TRUST (d
Page 52 and 53: QUEENSLAND PERFORMING ARTS TRUST (o
Page 54 and 55: QUEENSLAND PERFORMING ARTS TRUST No
Page 66 and 67: QUEENSLAND PERFORMING ARTS TRUST CE
Page 68 and 69: Independence The Financial Administ
Page 70: Queensland Performing Arts Centre C
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Annual Report - QPAC

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