Annual report [1997-98] - Family Court of Australia

The Family Court of Australia – annual report 1997-98
FAMILYCOURTOF AUSTRALIA
NOTES TO AND FORMING PART OFTHE FINANCIALSTATEMENTS
for the year ended 30 June 1998
NOTE - 32 - Financial Instruments (cont.)
(c) Net FairValues of Financial Assets and Liabilities
1997-98 1996-97
Total Aggregate Total Aggregate
carrying net fair carrying net fair
amount value amount value
Note $’000 $’000 $’000 $’000
Departmental
Financial Assets
Cash at Bank 19 115 115 102 102
Receivables for Goods
and Services 20 7,323 7,323 6,572 6,572
Prepayments 21 18,063 18,063 7,942 7,942
Total Financial Assets 25,501 25,501 14,616 14,616
Financial Liabilities
(Recognised)
Trade creditors 18 1,200 1,200 817 817
Total Financial
Liabilities (Recognised) 1,200 1,200 817 817
Administered Financial Assets
Cash 19 153 153 140 140
Receivable 20 6 6 10 10
Total Financial Assets 159 159 150 150
Financial assets
The net fair values of cash and non-interest-bearing monetary financial assets
approximate their carrying amounts.
The net fair values for prepayments are short-term and are approximated by their carrying
amounts.
Financial liabilities
The net fair values for trade creditors are short-term in nature and are approximated by
their carrying amounts.
(d) Credit Risk Exposures
The Court’s maximum exposures to credit risk at reporting date in relation to each class
of recognised financial assets is the carrying amount of those assets as indicated in the
Statement of Assets and Liabilities.
The Court has no significant exposures to any concentrations of credit risk.
All figures for credit risk referred to do not take into account the value of any collateral
or other security.
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