Untitled - Annual Report 2004 - The University of Western Australia

THE UNIVERSITY OF WESTERN AUSTRALIANotes to the Financial Statementsfor the year ended 31 December 200447. Financial Instruments (continued)2003 Consolidated Floating Fixed Interest Maturing/Repricing in: Non- ConsolidatedInterest 1 year over 1 year more than interest 2003Rate or less to 5 years 5 years Bearing TotalNote $’000 $’000 $’000 $’000 $’000 $’000Financial LiabilitiesTrade and Other Creditors 29 – – – – 3,862 3,862Accrued Expenses 33 – – – – 9,848 9,848Borrowings 30, 31 – 106 2,009 – 144 2,259Funds Held for Affiliated Activities 33 – 3,702 – 3,400 – 7,102Total Financial Liabilities – 3,808 2,009 3,400 13,854 23,071Weighted Average Interest Rate 0.00% 3.25% 10.00% 10.20%Net Financial Assets 50,093 36,406 9,804 1,590 327,308 425,201(c)Net Fair Value of Financial Assets and LiabilitiesThe net fair value of financial assets and liabilities disclosed in the Statement of Financial Position are not materially different to thecarrying value of the financial assets and liabilities.48. Acquittal of Commonwealth Government Financial Assistance48.1 DEST—Teaching and Learning Operating Grant Teaching HospitalsUniversityUniversityNote 2004 2003 2004 2003$’000 $’000 $’000 $’000Financial Assistance received in cashduring the reporting period 63,155 60,915 306 324Net Accrual Adjustments (313) 76 26 –Revenue for the period 2(a) 62,842 60,991 332 324Surplus/Deficit from the previous year 178 155 – –Total Funds including accrued revenue 63,020 61,146 332 324Less Expenses including accrued expenses (62,908) (60,968) (332) (324)Surplus/Deficit for the reporting period 112 178 – –DEST—Teaching and Learning Capital Development Pool TotalUniversityUniversityNote 2004 2003 2004 2003$’000 $’000 $’000 $’000Financial Assistance received in cashduring the reporting period 1,049 – 64,510 61,239Net Accrual Adjustments – – (287) 76Revenue for the period 2(a) 1,049 – 64,223 61,315Surplus/Deficit from the previous year – 197 178 352Total Funds including accrued revenue 1,049 197 64,401 61,667Less Expenses including accrued expenses (344) (197) (63,584) (61,489)Surplus/Deficit for the reporting period 705 – 817 17848.2 HECS and Other Commonwealth Loan Programmes HECS (Commonwealth Payments) PELSUniversityUniversityNote 2004 2003 2004 2003$’000 $’000 $’000 $’000Financial Assistance received in cashduring the reporting period 35,108 36,551 3,697 2,385Net Accrual Adjustments 3,053 (163) – –Revenue for the period 2(b) 38,161 36,388 3,697 2,385Surplus/Deficit from the previous year – – (90) 88Total Funds including accrued revenue 38,161 36,388 3,607 2,473Less Expenses including accrued expenses (38,161) (36,388) (3,607) (2,563)Surplus/Deficit for the reporting period – – – (90)79