YMAC Annual Report 2022

Notes to the Consolidated Financial Statements
as at 30 June 2022
NOTE 17 - FINANCIAL INSTRUMENTS
Note 17A Interest Rate Risk
Floating
Interest Rate
Fixed Interest Rate
Maturing in 1 Year
or less
Non-Interest
Bearing
Total
Weighted
Average
2022 2021 2022 2021 2022 2021 2022 2021 2022 2021
$ $ $ $ $ $ $ $ % %
Financial Assets
Cash on hand - - - - 920 289 920 289 - -
Deposits at call 8,388,445 9,738,700 - - - - 8,388,445 9,738,700 0.59% 0.74%
Receivables for
services (gross)
- - - - 1,676,199 1,224,912 1,676,199 1,224,912 - -
Other - - - - 2,184,777 1,892,299 2,184,777 1,892,299 -
Term deposit - - 11,837,052 12,521,645 - - 11,837,052 12,521,645 0.59% 0.74%
Total 8,388,445 9,738,700 11,837,052 12,521,645 3,861,896 3,117,500 24,087,393 25,377,845
Total Assets 30,052,839 31,471,328
Financial Liabilities
Trade creditors - - - - 964,835 1,005,852 964,835 1,005,852 n/a n/a
Grants payable - - - - 3,287,109 5,292,068 3,287,109 5,292,068 n/a n/a
Other payables - - - - 8,661,511 10,839,422 8,661,511 10,839,422 n/a n/a
Total - - - - 12,913,455 17,137,342 12,913,455 17,137,342
Total Liabilities 17,089,046 20,296,754
Financial assets
The net fair values of cash, deposits on call and non-interest-bearing monetary financial assets approximate their carrying amounts.
The net fair values of the term deposits are based on discounted cash flows using current interest rates for assets with similar risk profiles
Financial liabilities
The net fair values for trade creditors and grant liabilities, all of which are short-term in nature, are approximated by their carrying amounts.
Yamatji Marlpa Aboriginal Corporation | Annual Report 2022 | 71