Portland District Health Annual Report 2007 - South West Alliance of ...

Portland District Health
Notes to and forming part of the Financial Statements
for the year ended 30 June 2007
(c) Net Fair Value of Financial Assets and Liabilities
The carrying amount of financial assets and liabilities contained within these financial statements is representative of the net fair value of each financial asset or liability.
2006-07 2005-06
Net Fair Value Book Net Fair Book Net Fair
Value Value Value Value
$’000 $’000 $’000 $’000
Financial Assets
Cash at Bank 2,597 2,597 933 933
Trade Debtors 951 951 1,375 1,375
Other Assets 203 203 217 217
Total Financial Assets 3,751 3,751 2,525 2,525
Financial Liabilities
Payables 2,724 2,724 1,363 1,363
Borrowing:
- Treasury Corporation Victoria - Current 171 171 171 171
- Treasury Corporation Victoria - Non-Current 1,436 1,436 1,619 1,619
Total Financial Liabilities 4,331 4,331 3,153 3,153
*Net fair values are capital amounts
Net fair values of financial instruments are determined on the following basis:
1. Cash, deposit investments, cash equivalents and non-interest bearing financial assets and liabilities (trade debtors, other receivables, trade creditors
and advances) are valued at cost which approximates net fair value.
2. Interest Bearing Liabilities amounts are based on the present value of expected future cash flows, discounted at current market interest rates,
quoted for trade (Treasury Corporation of Victoria)
NOTE 7: INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD
2007 2006
$’000 $’000
Investment in Jointly Controlled Entities 142 225
Total 142 225
Principal Country of Ownership Interest Published Fair Value
Activity Incorporation
2007 2006 2007 2006
% % $’000 $’000
South West Alliance of Rural Hospitals (SWARH) Information Australia 10.65 10.65 142 225
Technology
The voting power of all partners in the Joint Venture are the same.
2007 2006
$’000 $’000
Share of Jointly Controlled Entities loss 82 35
Total 82 35
PORTLAND DISTRICT HEALTH • ANNUAL REPORT 06/07 61