Annual Report 2007 - Publications Unit - The University of Western ...

THE UNIVERSITY OF WESTERN AUSTRALIA
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2007
21. Cash and cash equivalents
Consolidated
University
2007 2006 2007 2006
Notes $'000 $'000 $'000 $'000
Cash at bank and on hand 17,573 17,933 17,231 17,506
Short-term money market 8,381 7,131 8,381 7,131
Short-term bills 14,421 2,993 14,421 2,993
Total cash and cash equivalents 40,375 28,057 40,033 27,630
22. Receivables
Current
Receivables 25,475 26,301 25,245 26,086
Less: Provision for impaired receivables (626) (845) (626) (840)
24,849 25,456 24,619 25,246
Accrued income 6,768 2,996 6,768 2,996
Prepayments 11,784 10,303 11,766 10,297
Total current receivables 43,401 38,755 43,153 38,539
Non-current
Receivables 1,014 932 1,014 932
Total non-current receivables 1,014 932 1,014 932
Total Receivables 44,415 39,687 44,167 39,471
(a) Impaired Receivables
The ageing of these receivables is as follows: Gross Gross Gross Gross
Not past due 6,066 10,108 5,827 9,909
Past due 0–30 days 10,956 6,538 10,969 6,530
Past due 31–120 days 4,938 4,204 4,935 4,198
Past due 121 days–1 year 2,324 4,185 2,323 4,184
More than 1 year 1,191 1,266 1,191 1,265
Total 25,475 26,301 25,245 26,086
The ageing of these impaired receivables is as follows: Impaired Impaired Impaired Impaired
Not past due 11 233 11 233
Past due 0–30 days 21 101 21 101
Past due 31–120 days 10 80 10 80
Past due 121 days–1 year 6 68 6 64
More than 1 year 578 363 578 362
Total 626 845 626 840
Movement in the provison for impairment of receivables are as follows: 2007 2006 2007 2006
At 1 January 845 632 840 632
Provision for impairment recognised during the year 411 341 411 336
Receivables written off during the year as uncollectible (51) (115) (50) (115)
Unused amount reversed (579) (13) (575) (13)
626 845 626 840
As at 31 December 2007 current receivables for the university were impaired individually and percentage historically based. The bulk of the
impairment balance of $626,000 relates to an individually impaired receivable for a company in liquidation at year end and individual
unpaid student fees.
The ANNUAL University REPORT of Western 2007Australia47