YMAC Annual Report 2022

Notes to the Consolidated Financial Statements
as at 30 June 2022
NOTE 18 - RISK EXPOSURES AND RESPONSES
Note 18A Credit Risk
The maximum exposures to credit risk at reporting date in relation to each class of recognised financial assets is the carrying
amount of those assets as indicated in the Statement of Financial Position.
The Corporation has no significant exposures to any concentrations of credit risk.
Credit risk of financial instruments not past due or individually determined as impaired:
Not Past
Due nor
Impaired
Not Past
Due nor
Impaired
Past due or
impaired
Past due or
impaired
2022 2021 2022 2021
Cash at Bank 8,839,365 9,738,989 - -
Receivables for goods and services 98,944 1,111,909 1,575,644 108,136
Total 8,938,309 10,850,898 1,575,644 108,136
Ageing of financial assets that are past due but not impaired for 2022
31 to 60
days
61 to
90 days
90+
days
Total
Receivables for goods and services 356,800 665,233 553,611 1,575,644
Ageing of financial assets that are past due but not impaired for 2021
31 to 60
days
61 to
90 days
90+
days
Total
Receivables for goods and services 73,775 32,543 1,818 108,136
Note 18B Liquidity Risk
This is highly unlikely due to government funding and mechanisms available to YMAC and internal policies and
procedures put in place to ensure there are appropriate resources to meet its financial obligations.
YMAC manages its budgeted grant funds to ensure it has adequate funds to meet payments as they fall due. In addition,
YMAC has policies in place to ensure timely payments are made when due and has no past experience of default.
Note 18C Interest rate risk
Surplus
Higher/(Lower)
Equity
Higher/(Lower)
2022 2021 2022 2021
$ $ $ $
Full Operations
+1% increase in interest rate 83,884 97,387 83,884 97,387
-1% decrease in interest rate (83,884) (97,387) (83,884) (97,387)
72 | Yamatji Marlpa Aboriginal Corporation | Annual Report 2022