TOURISM VICTORIA ANNUAL REPORT

notes to the financial statements
30 june 2008 (continued)
Note 15: cash flow information
2008 2007
$ $
a) Reconciliation of cash and cash equivalents
For the purposes of the Cash Flow Statement, cash and cash equivalents includes
cash on hand and in banks and investments in money market instruments, net of
outstanding bank overdrafts. Cash at the end of the financial year as shown in the
Cash Flow Statement is reconciled to the related items in the Balance Sheet as follows:
Cash at bank and on hand 7,396,255 2,303,488
Term deposits and investments 8,800,000 11,900,000
Cash advance - (held at overseas offices) 215,569 219,383
Total cash and cash equivalents 16,411,824 14,422,871
b) Non cash financing and investing activities
Acquisition of plant and equipment by way of finance lease – –
Total non cash financing and investing activities – –
c) Reconciliation of net result for the period to net cash flows from operating activities.
Net result for the reporting period 2,897,419 (395,330)
Non-cash movements
(Gain)/Loss on disposal of non-current assets 42,609 (2,169)
(Gain)/Loss on revaluation of non-current assets – –
Depreciation and amortisation of non-current assets 232,262 254,359
Allowance for doubtful debts – –
Other non cash items – 3,322
Movements in assets and liabilities
Changes in net assets and liabilities
(Increase)/decrease in assets
Current receivables (1,471,291) 897,706
Other current assets (804,047) (61,345)
Increase/(decrease) in liabilities
Current payables 1,048,182 (573,324)
Current provisions 126,562 65,309
Non-current provisions 13,128 (39,120)
Net cash flows from operating activities 2,084,824 149,408
FINANCIAL REPORT 2007–2008
93