Annual Report 2010 - Christchurch City Council

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Financial instrument risks (continued) Financial statements Annual Report Christchurch Otautahi 2010 p229. Notes to financial statements 39. Financial instrument risks (continued) Liquidity risk Liquidity risk is the risk that the group will encounter difficulty raising liquid funds to meet commitments as they fall due. Prudent liquidity risk management implies maintaining sufficient cash, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. In meeting its liquidity requirements, the group manages its investments and borrowings in accordance with its written investment policies. In general the group generates sufficient cash flows from its operating activities to meet its obligations arising from its financial liabilities and has funding arrangements in place to cover potential shortfalls. The following tables analyse the parent company’s and group’s contractual cash flows for its financial assets and liabilities into relevant maturity groupings based on the remaining period at year end to the contractual maturity date. The amounts disclosed in the tables are the contractual undiscounted cash flows: Parent Balance sheet Contractual cash flows Less than 1 year 1-2 years 2-5 years 5 years + $000s $000s $000s $000s $000s $000s Jun 10 Financial liabilities: Creditors and other payables 75,626 75,626 75,626 - - - Net settled derivative liabilities 9,963 7,261 512 4,834 1,534 381 Commercial paper 5,000 5,000 5,000 - - - Bonds and other fixed rate borrowing 81,566 97,132 5,481 4,713 86,936 2 Floating rate notes 100,000 123,598 5,837 7,378 110,383 - Loans from external parties 79,623 100,546 41,430 6,038 17,952 35,126 Loans from group entities 41,194 52,804 5,190 2,644 29,484 15,486 392,972 461,967 139,076 25,607 246,289 50,995 Financial assets: Cash and cash equivalents 80,892 80,892 80,892 - - - Bank deposits with maturity > 1 year 8,000 8,000 - 8,000 - - CCC - short term deposits 98,243 100,090 100,090 - - - Debtors and other receivables 43,954 44,454 44,454 - - - Related party receivables 2,132 2,132 2,132 - - - Local authority stock 33,000 38,884 15,867 1,257 16,422 5,338 Stocks and bonds 26,106 34,290 4,813 9,977 8,395 11,105 Loans and advances 876 3,959 48 53 2,787 1,071 Related party loans 188,110 350,861 21,037 17,542 65,283 246,999 Net settled derivative assets 1,609 (1,100) 986 (595) (1,491) - Financial guarantee - 200 200 - - - 482,922 662,662 270,519 36,234 91,396 264,513
p230. Annual Report Christchurch Otautahi 2010 Financial statements Financial instrument risks (continued) Notes to financial statements 39. Financial instrument risks (continued) Parent Balance sheet Contractual cash flows Less than 1 year 1-2 years 2-5 years 5 years + $000s $000s $000s $000s $000s $000s Jun 09 Financial liabilities: Creditors and other payables 64,562 64,562 64,562 - - - Net settled derivative liabilities 3,861 1,748 1,382 775 (280) (129) Commercial paper 5,000 5,000 5,000 - - - Floating rate notes 60,000 83,360 (11,590) 4,455 90,495 - Loans from external parties 60,807 85,182 20,758 5,279 18,084 41,061 Loans from group entities 83,194 99,728 49,545 5,249 29,457 15,477 Financial guarantees - 200 200 - - - 277,424 339,780 129,857 15,758 137,756 56,409 Financial assets: Cash and cash equivalents 84,383 84,383 84,383 - - - CCC - short term deposits 17,000 17,000 17,000 - - - Debtors and other receivables 41,790 41,790 41,790 - - - Related party receivables 571 571 571 - - - Local authority stock 42,245 47,557 16,013 15,263 10,606 5,675 Stocks and bonds 27,679 34,813 3,294 4,740 18,305 8,474 Loans and advances 5,578 5,578 5,578 - - Related party loans 152,823 284,731 (9,306) 16,217 50,906 226,914 Net settled derivative assets 349 340 275 65 - - 372,418 516,763 159,598 36,285 79,817 241,063
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Annual Report 2010 - Christchurch City Council

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