ANNUAL REPORT 2005 - MVCB - Murray Valley Citrus Board

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MURRAY VALLEY CITRUS BOARD NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2005 (b) Interest Rate Exposure The Board’s exposure to interest rate risks of financial assets and financial liabilities recognised and unrecognised at balance date are as follows: Financial Instruments (a)Financial Assets Cash Receivables Term Deposits Fixed Interest Maturing in: 1 year or less Floating Interest Non-interest bearing 2005 $ - - 732,084 2004 $ - - 743,168 2005 $ 130,579 - - 2004 $ 40,440 - - 2005 $ 245 36,975 - 2004 $ 570 146,744 - Total carrying amount per statement of financial position 2005 $ 130,824 36,975 732,084 2004 $ 41,010 146,744 743,168 Page 43 Weighted average effective interest rate Total Financial Assets 732,084 743,168 130,579 40,440 37,220 147,314 899,883 930,922 - - (c) Net fair Values The aggregate net fair values of financial assets and financial liabilities recognised and unrecognised a balance date, are as follows: (a)Financial Assets Cash Receivables Term Deposits Total Carrying Amount Statement of Financial Position 2005 $ 130,824 36,975 732,084 2004 $ 41,010 146,744 743,168 Aggregate Fair Value 2005 $ 130,824 36,975 732,084 2004 $ 41,010 146,744 743,168 Total Financial Assets 899,883 930,922 899,883 930,922 (d) Credit Risk The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to be recognised financial assets is the carrying amount, net of any provisions for doubtful debts of those assets, as disclosed in the statement of financial position and notes to the financial statements. 26. AUDIT FEES The fees payable to the Auditor General for the audit of the financial statements for the year ending 30th June 2005 was $6,900, plus applicable GST. 27. EMERGENGY RESPONSE RESERVE The emergency response reserve is an allocation of funds from retained earings that have been approved by growers that enable the Board to respond to an industry emergency. The funds are allocated annually, subject to grower approval, to enable the reserve to accumulate to a sizable amount to enable effective contribution to counteract the event. 2005 $ 0.0% n/a 0% 2004 $ 0.20% n/a 5.20%
Legislation Ministerial Directions Report of Operations Charter & purpose DISCLOSURE Index Requirement Page FRD 22 Manner of establishment and Relevant Minister 2,9 FRD 22 Objectives, functions, powers and duties 6 FRD 22 Management & structure Nature and range of services provided 6 FRD 22 Financial and other information Organisational structure 9 FRD 22 Statement of workforce data and merit and equity 9,41 FRD 22 Summary of the financial results for the year 22 FRD 22 Significant changes in financial position during the year 20 FRD 22 Operational & budgetary objectives for the year and performance against those 26 objectives FRD 22 Major changes or factors affecting performance 20 FRD 22 Subsequent events 20 FRD 22 Application and operation of Freedom of Information Act 1982 15 FRD 22 Compliance with building and maintenance provisions of Building Act 1993 14 FRD 22 Statement on National Competition Policy 16 FRD 22 Application and operation of the Whistleblowers Protection Act 2001 16 FRD 22 Details of consultancies over $100,000 14 FRD 22 Details of consultancies under $100,000 14 FRD 12 Disclosure of major contracts 14 FRD 22 Statement of availability of other information 15 FRD 22 Occupational Health and Safety 14 FRD 15 Executive officer disclosure 41 FRD 10 Disclosure Index 14,44 FRD 24 Reporting of office-based environment impacts 14 FRD 25 Victorian Industry Participation Policy disclosures 15 FRD 8 Financial Statements Budget portfolio outcomes 11,26 Financial statements required under Part 7 of the FMA SD 4.2(c) Compliance with Australian accounting standards and other authoritative 30-34 pronouncements SD 4.2(c) Compliance with Ministerial Directions 24-25 SD 4.2(d) Rounding of Amounts 30 SD 4.2(c) Accountable officer declaration 25 SD 4.2(f) Model financial report 30 SD 4.2(b) Statement of financial performance 27 SD 4.2(b) Statement of financial position 28 SD 4.2(b) Statement of cash flows during the year 40 Other disclosures in notes to the financial statements FRD 9 Departmental disclosure of administered asset and liabilities 34-39 FRD 11 Disclosure of ex-gratia payments 20 FRD 13 Disclosure of parliamentary appropriations N/A FRD 21 Responsible person and executive officer disclosures 4,41 FRD 23 Superannuation liabilities and disclosure 39 Legislation Freedom of Information Act 1982 15 Building Act 1993 15 Whistleblowers Protection Act 2001 16 Victorian Industry Participation Policy Act 2003 15 Page 44
Page 1 and 2: For Year Ended 30th June 2005 Page
Page 3 and 4: # Murray Valley Citrus Board ABN: 5
Page 5 and 6: Board Directory Board Members Chair
Page 7 and 8: Charter The Murray Valley Citrus Ma
Page 9 and 10: Navel Season The Navel season start
Page 11 and 12: Business Environment INTRODUCTION T
Page 13 and 14: During 2004/05 more than $60,000 wa
Page 15 and 16: Board Governance Statements Equal E
Page 17 and 18: Whistleblowers Protection Act The W
Page 19 and 20: Murray Valley Citrus Forecast and A
Page 21 and 22: Other Compliance Information (i) Si
Page 23 and 24: MURRAY VALLEY CITRUS BOARD Financia
Page 25 and 26: Auditor General’s Report Page 24
Page 27 and 28: Murray Valley Citrus Board 2004/200
Page 29 and 30: MURRAY VALLEY CITRUS BOARD STATEMEN
Page 31 and 32: MURRAY VALLEY CITRUS BOARD NOTES TO
Page 41 and 42: 18. MURRAY VALLEY CITRUS BOARD NOTE
Page 43: MURRAY VALLEY CITRUS BOARD NOTES TO

ANNUAL REPORT 2005 - MVCB - Murray Valley Citrus Board

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