RACING AND WAGERING WESTERN AUSTRALIA - RWWA Home

DISCLOSURES AND LEGAL COMPLIANCE
21 Notes to the Statement of Cash Flows
Cash at bank earns interest at floating rates based on daily bank deposit rates.
2012 2011
$000 $000
Short-term deposits are made for varying periods of between one and three months, depending upon the immediate
cash requirements of RWWA and earn interest at the respective short-term deposit rates.
Reconciliation of cash
Cash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the
Statement of Financial Position as follows:
Cash and cash equivalents
Cash at bank 23,123 16,532
Cash on hand 51 51
Short-term deposits 33,000 23,000
56,174 39,583
Reconciliation of profit to net cash flows provided by/(used in) operating activities
Profit/(Loss) for the period 10,858 (8,991)
Non cash items:
Depreciation and amortisation expense 13,086 12,243
Doubtful debts expense 25 36
Net (gain)/loss on sale of property, plant and equipment (171) 13
Net (gain)/loss on disposal of investment 117 -
Grants and Subsidies from State Government (36,154) (26,944)
(Increase)/decrease in assets:
Receivables / Accrued Income (410) 535
Current inventories 24 (142)
Prepayments (48) 1,749
Increase/(decrease) in liabilities:
Trade creditors (449) 207
Other creditors (643) 630
Other liabilities 102 (477)
Annual leave and long service leave provisions 272 (336)
Other current provisions 34 469
Net GST Receipts/Payments 7 320
Change in GST Receivables/Payables - -
Net cash (used in)/provided by operating activities (13,349) (20,689)