2007 Annual report (PDF 8.1 Mb) - University of Melbourne
2007 Annual report (PDF 8.1 Mb) - University of Melbourne
2007 Annual report (PDF 8.1 Mb) - University of Melbourne
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NOTES TO AND FORMING PART OF THE<br />
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER <strong>2007</strong><br />
NOTE 32: FINANCIAL INSTRUMENTS (CONTINUED)<br />
(c) Liquidity Risk<br />
Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due.<br />
Liquidity risk is managed by the <strong>University</strong>’s Finance Committee through the monitoring <strong>of</strong> current forecasts and key ratios.<br />
Management also monitors the <strong>University</strong>’s cash position and cash flows regularly throughout the year. The <strong>University</strong> has<br />
established a standby bill facility <strong>of</strong> $10.0 million to provide short-term cash should the need arise.<br />
Maturity analysis – liquidity and interest rate risk tables<br />
The following tables disclose the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the <strong>report</strong>ing<br />
date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows, including interest<br />
that will be incurred on those liabilities that are interest-bearing. The adjustment column represents the possible future cash flows<br />
attributable to the instrument included in the maturity analysis which are not included in the carrying amount <strong>of</strong> the financial liability on the<br />
Balance Sheet.<br />
<strong>2007</strong><br />
Non-<br />
Interest<br />
Bearing<br />
Interest earning maturing in<br />
1 year<br />
or less<br />
Between 1<br />
to 5 years<br />
More than<br />
5 years<br />
Adjustment<br />
Consolidated<br />
carrying<br />
amount<br />
as per<br />
Balance<br />
Sheet<br />
$’000 $’000 $’000 $’000 $’000 $’000<br />
Financial Liabilities<br />
Payables 79,534 - - - - 79,534<br />
Borrowings - 12,680 50,599 205,082 (110,995) 157,366<br />
Finance Lease Liabilities - 918 847 - (138) 1,627<br />
Total Financial Liabilities 79,534 13,598 51,446 205,082 (111,133 238,527<br />
2006<br />
Non-<br />
Interest<br />
Bearing<br />
Interest earning maturing in<br />
1 year<br />
or less<br />
Between 1<br />
to 5 years<br />
More than<br />
5 years<br />
Adjustment<br />
Consolidated<br />
carrying<br />
amount<br />
as per<br />
Balance<br />
Sheet<br />
$’000 $’000 $’000 $’000 $’000<br />
Financial Liabilities<br />
Payables 81,120 - - - 81,120<br />
Borrowings - 12,573 50,633 217,728 (141,121) 139,813<br />
Finance Lease Liabilities - 1,006 1,547 - (253) 2,300<br />
Total Financial Liabilities 81,120 13,579 52,180 217,728 (141,374) 223,233
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