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Annual Report 2009–2010 - SRBV Admin

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NOTES TO AND FORMING PART OF THE ACCOUNTS FORSURVEYORS REGISTRATION BOARD OF VICTORIAFOR THE FINANCIAL YEAR ENDED 30 JUNE 20109A. FINANCIAL INSTRUMENTSFinancial Risk ManagementThe Surveyors Registration Board of Victoria maintains appropriate stringent financial controls, restricting any transaction with the SRBV Fundoutside the financial management systems.Market Risk - Interest Rate RiskThe Board's exposure to interest risk and the effective weighted average interest rate for each class of financial assets and liabilities is set outbelow:Notes 2010 2009 2010 2009 2010 2009 2010 2009Fixed Fixed Floating Floating Non Non Total TotalInterest Interest Interest Interest Interest InterestRate Rate Rate Rate Bearing Bearing$ $ $ $ $ $ $ $FinancialAssetsCash Assets (6) - - 35,189 236,513 100 12 35,289 236,525Term Deposit 150,000 150,000 -Receivables (5) - - - - 695 540 695 540150,000 - 35,189 236,513 795 552 185,984 237,065Weighted AverageInterest Rate 5.3% 0.0% 4.0% 3.0%Financial LiabilitiesPayables (8) - - - - 10,321 14,404 10,321 14,404Credit Cards (8) - - - - 5 76 5 76- - - - 10,326 14,480 10,326 14,480The Surveyors Registration Board of Victoria has minimal exposure to interest rate risk through its holding of cash assets. Interest rate risk ismanaged by holding a mix of fixed and floating rate investments.The Board has no exposure to foreign exchange risk or other price risk.Page 40 of 52

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