Annual Report 2004-2005 - City of Vincent

NOTES TO AND FORMING PARTS OF THE FINANCIAL STATEMENTS
Notes to and forming parts of the Financial Statements
for the year ended 30 June 2005
24 FINANCIAL INSTRUMENTS
Significant Accounting Policies
Details of the significant policies and methods adopted, including the criteria for recognition, the basis of measurement and the basis
on which revenues and expenses are recognised, in respect of each class of financial asset, financial liability and equity instrument,
are disclosed in note 1 to the accounts.
Interest Rate Risk
The following table details the Council’s exposure to interest rate risk as at the reporting date:
Fixed Fixed Fixed
Interest Interest Interest
Average Variable Rate Rate Rate
Interest Interest Less Than 1 Year to More than Non-Interest
Rate Rate 1 Year 5 Years 5 Years Bearing Total
2005 % $ $ $ $ $ $
Financial Assets
Cash 5.4 1,292,582 1,292,582
Rate Receivables 8.42 188,409 188,409
Other Receivables 1,280,963 1,280,963
Investments 5.62 8,272,134 8,272,134
188,409 9,564,716 - - 1,280,963 11,034,088
Financial Liabilities
Trade Payables 2,182,742 2,182,742
Loans 196,862 873,100 9,661,485 10,731,447
- 196,862 873,100 9,661,485 - 12,914,189
Fixed Fixed Fixed
Interest Interest Interest
Average Variable Rate Rate Rate
Interest Interest Less Than 1 Year to More Than Non-Interest
Rate Rate 1 Year 5 Years 5 Years Bearing Total
2004 % $ $ $ $
Financial Assets
Cash 4.50 - 857,262 - 857,262
Rates Receivables 8.42 324,836 - 324,836
Other Receivables 1,676,241 1,676,241
Investments 5.07 - 8,923,266 - 8,923,266
324,836 9,780,528 - - 1,676,241 11,781,605
Financial Liabilities
Trade Payables - - 2,711,265 2,711,265
Loans 1,725,630 4,291,524 3,551,786 9,568,941
- 1,725,630 4,291,524 3,551,786 2,711,265 12,280,206
TOWN OF VINCENT _ A NNUAL R EPORT 2004-2005
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