2012 Annual Report - Ballarat Health Services
2012 Annual Report - Ballarat Health Services
2012 Annual Report - Ballarat Health Services
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Notes to and forming part of the fi nancial statements for the year ended 30 June <strong>2012</strong>.<br />
(b) Credit Risk<br />
Credit risk arises from the contractual fi nancial assets of <strong>Ballarat</strong> <strong>Health</strong> Service, which comprise cash and deposits, non statutory receivables and available for sale<br />
contractual fi nancial assets. <strong>Ballarat</strong> <strong>Health</strong> <strong>Services</strong> exposure to credit risk arises from the potential default of a counter party on their contractual obligations resulting in<br />
the fi nancial lose to Ballart <strong>Health</strong> <strong>Services</strong>. Credit risk is measured at fair value and is monitored on a regular basis.<br />
In addition, <strong>Ballarat</strong> <strong>Health</strong> <strong>Services</strong> does not engage in hedging for its contractual fi nancial assets and mainly obtains contractual fi nancial assets that are on fi xed<br />
interest, except for cash assets, which are mainly cash at bank. <strong>Ballarat</strong> <strong>Health</strong> <strong>Services</strong> is to only deal with banks with high credit ratings.<br />
Provision for impairment for contractual fi nancial assets is recognised when there is objective evidence that <strong>Ballarat</strong> <strong>Health</strong> <strong>Services</strong> will not be able to collect a<br />
receivable. Objective evidence includes fi nancial diffi culties of the debtor, default payments, debt’s which are more than 60 days overdue, and changes in debtor credit<br />
ratings.<br />
Except as otherwise detailed in the following table, the carrying amount of contractual fi nancial assets recorded in the fi nancial statements, net of any allowances for<br />
losses, represents <strong>Ballarat</strong> <strong>Health</strong> <strong>Services</strong> maximum exposure to credit risk without taking account the value of any collateral obtained.<br />
Credit quality of contractual fi nancial assets that are neither past due nor impaired<br />
62 <strong>Ballarat</strong> <strong>Health</strong> <strong>Services</strong><br />
Financial<br />
Institutions (AAA<br />
Credit Rating)<br />
Government<br />
Agencies (AAA<br />
Credit Rating)<br />
Other Total<br />
$000 $000 $000 $000<br />
<strong>2012</strong><br />
Financial Assets<br />
Cash and Cash Equivalents<br />
Receivables<br />
16,083 - - 16,083<br />
- Trade Debtors - - 6,855 6,855<br />
- Other Receivables (i)<br />
Other Financial Assets<br />
358 - - 358<br />
- Term Deposit 32,800 - - 32,800<br />
- Other Financial Assets - - 1,495 1,495<br />
- Shares in Other Entities 373 - 1,300 1,673<br />
Total Financial Assets 49,614 - 9,650 59,264<br />
2011<br />
Financial Assets<br />
Cash and Cash Equivalents<br />
Receivables<br />
16,245 - - 16,245<br />
- Trade Debtors - - 5,951 5,951<br />
- Other Receivables (i)<br />
Other Financial Assets<br />
14 - 42 56<br />
- Term Deposit 15,000 - - 15,000<br />
- Other Financial Assets - - 5,995 5,995<br />
- Shares in Other Entities 9 - 1,442 1,451<br />
Total Financial Assets 31,268 - 13,430 44,698<br />
(i) The total amounts disclose here excludes statutory amounts (eg; amounts owing from Victorian Government and GST input tax credit recoverable).
Change language