Rental Bond Board Annual Report 2006 – 2007 - NSW Fair Trading ...

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RENTAL BOND BOARD
FOR THE YEAR ENDED 30 JUNE 2007
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
(j) Other Financial Assets
“Other financial assets” are generally recognised at cost, with the exception of NSW
Treasury Corporation Hour-Glass facilities and Managed Fund Investments, which are
measured at market value and increases and decreases in capital value are taken to the
Income Statement (See Note 4). For current “other financial assets” revaluation increments
and decrements are recognised in the Income Statement.
(k) Grant Recognition for Not-for-Profit Entities
The Board has applied the requirements in AASB 1004 Contributions regarding
contributions of assets (including grants) and forgiveness of liabilities.
(l) Comparative Information
Where necessary, previous year figures have been reclassified to facilitate comparison.
2. CASH AND CASH EQUIVALENTS
Cash at bank is held with the Commonwealth Bank. Interest is earned on daily bank
balances and calculated each month. The average interest rate for the period was 6.0%
(5.5% in 2005/2006). NSW Treasury Corporation interest for Hour-Glass Cash Facility
Trust was 6.55% (5.70% in 2005/2006).
2007 2006
$’000 $’000
Cash at Bank 130 219
NSW Treasury Corporation Hour-Glass Cash Facility Trust 6,891 15,843
7,021 16,062
For the purposes of the Cash Flow Statement, cash includes money deposited with banks,
NSW Treasury Corporation Hourglass ‘Cash’ Facility Trust and cash on hand.
Cash assets recognised in the Balance Sheet are reconciled to cash at the end of financial
year as shown in the Cash Flow Statement as follows:
Cash and cash equivalents (per Balance Sheet) 7,021 16,062
Closing Cash and Cash Equivalents 7,021 16,062
(per Cash Flow Statement)
3. RECEIVABLES
Items classified as receivables are as follows:
Accrued Interest 74 95
Debtors 5,875 1,956
5,949 2,051