Wintec Annual Report 2009

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FINANCIAL PERFORMANCE NOTES TO THE FINANCIAL STATEMENTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2009 17a FINANCIAL INSTRUMENT CATEGORIES CONSOLIDATED PARENT 2009 2008 2009 2008 $000 $000 $000 $000 FINANCIAL ASSETS Fair value through surplus or deficit – Held for trading Forward foreign exchange contracts - - - - Managed fund - - - - - - - - Loans and receivables Cash and cash equivalents 1,142 (113) 761 (113) Debtors and other receivables 1,665 4,618 1,640 4,613 Other financial assets - Term deposits 117 113 117 113 - Loans to related parties 892 816 892 816 3,816 5,434 3,410 5,429 Fair value through other comprehensive income Other financial assets - Government bonds - - - - - Unlisted shares 38 38 38 38 - Listed shares - - - - 38 38 38 38 FINANCIAL LIABILITIES Fair value through surplus or deficit – Held for trading Derivative financial instrument liabilities - - - - - Interest rate swaps - - - - - Forward foreign exchange contracts - - - - - - - - Financial liabilities at amortised cost Creditors and other payables 5,280 4,066 4,304 3,794 Secured loans 3,300 3,300 3,300 3,300 8,580 7,366 7,604 7,094 66 _ Wintec Annual Report 2009
FINANCIAL PERFORMANCE NOTES TO THE FINANCIAL STATEMENTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2009 17bFINANCIAL INSTRUMENTS RISK The Institute and group has a series of policies to manage the risks associated with financial instruments. It is risk averse and seeks to minimise exposure from its treasury activities. These policies do not allow any transactions that are speculative in nature to be entered into. Market risk Price risk Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate as a result of changes in market prices. The Institute and group do not hold any financial instruments which are exposed to price risk. Currency risk Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The institute is not exposed to any significant currency risk. Fair value interest rate risk Fair value interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. Borrowings and investments issued at fixed rates of interest create exposure to fair value interest rate risk. The Institute and group does not actively manage its exposure to fair value interest rate risk. Cash flow interest rate risk Cash flow interest rate risk is the risk that the cash flows from a financial instrument will fluctuate because of changes in market interest rates. Borrowings and investments issued at variable interest rates create exposure to cash flow interest rate risk. The institute does not generally enter in to borrowing or investments with variable interest rates. Credit risk Credit risk is the risk that a third party will default on its obligation to the Institute and group, causing it to incur a loss. Due to the timing of its cash inflows and outflows, surplus cash is invested into term deposits which give rise to credit risk. The Institute and group limits the amount of credit exposure to any one financial institution for term deposits to no more than 40% of total investments held. The group invests funds only with registered banks that have a Standard and Poor’s credit rating of at least A2 for short term and A – for long-term investments. Wintec Annual Report 2009 _ 67
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Wintec Annual Report 2009
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OVERVIEW Overview of Wintec AS AN A
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OVERVIEW 1995 Land is purchased on
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OVERVIEW Chair & Chief Executive’
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OVERVIEW 9 _ Wintec Annual Report 2
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CHAIR & CHIEF EXECUTIVE’S REPORT
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OVERVIEW Highlights 13 _ Wintec Ann
Page 15 and 16: HIGHLIGHTS HIGH SPEED CONNECTION TO
Page 17 and 18: HIGHLIGHTS ENHANCING ACADEMIC QUALI
Page 19 and 20: HIGHLIGHTS MEETING THE NEEDS OF EMP
Page 21 and 22: HIGHLIGHTS RELEVANT RESEARCH AND TE
Page 23 and 24: HIGHLIGHTS ‘ WE RECEIVED THE GLOB
Page 25 and 26: HIGHLIGHTS ‘ KIA HORA TE MARINO K
Page 27 and 28: HIGHLIGHTS WORKING WITH OTHER EDUCA
Page 29 and 30: OVERVIEW Financial Performance 29 _
Page 31 and 32: FINANCIAL PERFORMANCE
Page 33 and 34: FINANCIAL PERFORMANCE STATEMENT OF
Page 37 and 38: FINANCIAL PERFORMANCE CASH FLOW STA
Page 41 and 42: FINANCIAL PERFORMANCE NOTES TO THE
Page 65: FINANCIAL PERFORMANCE NOTES TO THE
Page 83 and 84: FINANCIAL PERFORMANCE 2009 STATEMEN
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Page 87 and 88: EQUAL OPPORTUNITIES EQUAL OPPORTUNI
Page 89 and 90: EQUAL OPPORTUNITIES EQUAL EDUCATION
Page 92: www.wintec.ac.nz
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Wintec Annual Report 2009

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