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Annual Report 2001-2002 - Western Australian Museum - The ...

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Accounts and Financial Statements<br />

22. Financial Instruments<br />

(a) Interest Rate Risk Exposure<br />

<strong>The</strong> following table details the Authority’s exposure to interest rate risk as at the reporting date:<br />

90<br />

Fixed Interest Rate Maturity<br />

Weighted Variable Less 1 to 5 More Non- Total<br />

Average Interest than 1 Years than 5 Interest<br />

Effective Rate Year Years Bearing<br />

Interest<br />

Rate<br />

<strong>2002</strong> % $000 $000 $000 $000 $000 $000<br />

4.74<br />

Financial Assets<br />

Cash assets 3,287 3,287<br />

Restricted cash assets 1,166 1,166<br />

Receivables 580 580<br />

Prepayments 15 15<br />

Other 174 174<br />

4,453 769 5,222<br />

Financial Liabilities<br />

Payables 99 99<br />

99 99<br />

<strong>2001</strong> 5.93<br />

Financial assets 3,788 827 4,615<br />

Financial liabilities 168 168<br />

(b) Credit Risk Exposure<br />

<strong>The</strong> WA <strong>Museum</strong> has limited credit risk exposure. <strong>The</strong> carrying amount of financial assets recorded in the financial<br />

statements, other than debt receivables, represents the authorities maximum exposure to credit risk.<br />

(c) Net Fair Values<br />

<strong>The</strong> carrying amount of financial assets and financial liabilities recorded in the financial statements are not materially<br />

different from their net fair values, determined in accordance with the accounting policies disclosed in note 1 to the<br />

financial statements.<br />

WESTERN AUSTRALIAN MUSEUM ANNUAL REPORT <strong>2001</strong>–<strong>2002</strong>

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