Annual Report 2011 Australian Grand Prix Corporation

Notes to and Forming Part of the Financial Statementsfor the Financial Year Ended 30 June 20112011FinancialinstitutionsTriple-Acredit ratingGovernmentAgenciesTriple-Acredit ratingOther MinTriple-Bcredit ratingTotal$000’s $000’s $000’s $000’sCash and deposits 20,411 - - 20,411Receivables - - 4,808 4,808Derivatives - - - -Total contractual financialassets 20,411 - 4,808 25,2192010FinancialinstitutionsTriple-Acredit ratingGovernmentAgenciesTriple-Acredit ratingOther MinTriple-Bcredit ratingTotal$000’s $000’s $000’s $000’sCash and deposits 1,565 18,300 - 19,865Receivables - 2,714 5,186 7,900Derivatives - 14,493 - 14,493Total contractual financialassets 1,565 35,507 5,186 42,258(d) Liquidity RiskLiquidity risk arises when the Corporation is unable to meet its financial obligations as they falldue. The Corporation operates under the Government fair payments policy of settling financialobligations within 30 days and in the event of a dispute, make payments within 30 days from thedate of resolution.The Corporation manages its liquidity risk by:• maintaining an adequate level of uncommitted funds that can be drawn at short notice tomeet its short-term obligations; and• careful maturity planning of financial obligations based on forecasts of future cash flows.The Corporation’s exposure to liquidity risk is deemed insignificant based on prior periods’ dataand current assessment of risk. Adequate controls and processes are in place to ensure sufficientcash is available when debts fall due.Maturity DatesCarrying Nominal Less than 11-3 monthsamount amount month$000’s $000’s $000’s $000’s2011 Payables 4,608 4,608 4,608 -2010 Payables 6,785 6,785 6,785 -58Australian Grand Prix Corporation Annual Report 2011