Royal Botanic Gardens Victoria Annual Report 2018-19

7. RISKS, CONTINGENCIES AND VALUATION JUDGEMENTS
The carrying amounts of financial assets and financial liabilities that are exposed to interest rates are as follows:
Weighted Carrying
Interest rate exposure
2019 average amount (a) Fixed interest Variable Non-interest
effective
rate interest rate bearing
interest rate
% $ $ $
$
Financial assets
Cash and deposits
1.90 17,399,293 - 17,362,563
36,730
Sale of goods and services
- 493,992 - -
493,992
Accrued interest income
- - - -
-
17,893,285 - 17,362,563 530,722
Financial liabilities
Supplies and services payables - 1,236,144 - - 1,236,144
Other payables
- 104,010 - -
104,010
Finance lease liabilities
3.57 496,179 496,179 -
-
Loans from TCV
- - -
-
1,836,333 496,179 - 1,340,154
2018
Financial assets
Interest rate exposure
Fixed interest
rate
interest rate
% $ $ $
Variable
interest rate
Cash and deposits
2.01 10,500,661 7,530,411 2,942,884
27,366
Grant Receivables - 5,000,000 - - 5,000,000
Sale of goods and services
- 607,004 - -
607,004
Accrued interest income
- 23,765 - -
23,765
16,131,430 7,530,411 2,942,884 5,658,135
Financial liabilities
Supplies and services payables
- 1,643,741 - - 1,643,741
Other payables
- 85,312 - -
85,312
Finance lease liabilities 3.70 449,163 449,163 -
-
Loans from TCV
Weighted
average
effective
Carrying
amount (a)
145,223 - 145,223
2,323,439 449,163 145,223
Note (a): The carrying amounts disclosed here exclude statutory amounts (eg GST input tax credit recoverable and GST payable).
Non-interest
bearing
$
-
1,729,053
The Board's sensitivity to possible movements in interest rates is as follows:
Carrying amount
Net result
Net result
2019 2018 2019 2018 2019
$ $ $ $ $
Contractual financial assets
Cash and deposits (a) 17,399,293 10,500,661 173,626 104,733 (173,626)
17,399,293 10,500,661 173,626 104,733 (173,626)
Contractual financial liabilities
Borrowings (b) 496,179 594,386 4,962 5,944 (4,962)
496,179 594,386 4,962 5,944 (4,962)
Notes:
(a)
(b)
+100 basis points -100 basis points
Cash and deposits includes deposits of $17,362,563 (2018 - $10,473,295) that are exposed to floating rate movements. Sensitivities to these movements are
calculated as follows:
h 2019 - $17,362,563 x 0.01 = 173,626 and $17,362,563 x -0.01 = -$173,626; and
h 2018 - $10,473,295 x 0.01 = $104,733 and $10,473,295 x -0.01 = -$104,73.
Borrowings include finance lease liabilities and a Loan from TCV to the value of $0 (2018 - $594,386) that are exposed to movements in interest rates.
Sensitivities to these movements are calculated as follows:
h 2019 - $0
h 2018 - $594,386 x 0.01 = $5,944; and $594,386 x -0.01 = -$5,944.
2018
$
(104,733)
(104,733)
(5,944)
(5,944)
ROYAL BOTANIC GARDENS BOARD VICTORIA — ANNUAL REPORT 2018–19 103
Royal Botanic Gardens Board Victoria 2018-19 Financial Report Page 26