Building for a brighter future - GHA Central

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Financial: Financial Results Notes to and forming part of the Financial Statements for the year ended 30 June 2006 Note 12: Other Liabilities Total 2006 Total 2005 Monies Held in Trust* - Accommodation Bonds (Refundable Entrance Fees) ($’000) 1,329 ($’000) 1,044 - Salary Packaging 213 201 - Gippsland Health Alliance 1,866 2,836 Borrowings- DHS 24 Total Current 3,433 4,080 NON CURRENT Borrowings- DHS 23 Total Non Current 23 TOTAL OTHER LIABILITIES 3,456 4,080 *Represented by the following assets: Other Financial Assets (refer note 6) 3,409 4,080 TOTAL 3,409 4,080 Note 13: Equity & Reserves Total Total 2006 2005 (a) RESERVES ($’000) ($’000) Asset Revaluation Reserve Balance at the Beginning of the Reporting Period 1,401 Revaluation Increment 1,401 Balance at the End of the Reporting Period 1,401 1,401 Represented by: Land 913 913 Buildings 4,88 4,88 1,401 1,401 (b) CONTRIBUTED CAPITAL Balance at the Beginning of the Reporting Period 27,888 27,888 Capital contribution received from Victorian Government 1,341 Balance at the End of the Reporting Period 29,229 27,888 (c) ACCUMULATED SURPLUS Balance at the Beginning of the Reporting Period 6,557 4,568 Net Result for the Year 310 1,989 Balance at the End of the Reporting Period 6,867 6,557 (d) EQUITY Total Equity at the Beginning of the Reporting Period 35,846 32,456 Total Changes in Equity Recognised in the Operating Statement 1,6523,390 Total Equity at the Reporting Date 37,497 35,846 Note 14: Reconciliation of Net Result for the year to Net Cash Flow from Operating Activities Net Result for the Year 310 1,989 Add back Depreciation & Amortisation 2,769 2,607 Write Down of Inventories & Non Current Assets 23 Less Discount Interest on Borrowings (3) Assets Received free of charge (16) Net (Gain) from Sale of Plant & Equipment (24) (58) Net (Gain) from Sale of Investments (2) Non Cash Contributions of Non-Current Assets (105) (106) Movement in Operating Assets & Liabilities (Increase) / Decrease in Receivables 742 227 (Increase) / Decrease in Other Assets 619 193 Increase / (Decrease) in Payables (892) 43 Increase / (Decrease) in Employee Benefits 788 217 Increase / (Decrease) in Other Liabilities (671) NET CASH FLOWS FROM OPERATING ACTIVITIES 3,556 5,095 62 Total Total 2006 2005 ($’000) ($’000)
Financial: Financial Results Notes to and forming part of the Financial Statements for the year ended 30 June 2006 Note 15: Financial Instruments (a) Interest Rate Risk Exposure The Hospital’s exposure to interest rate risk and effective weighted average interest rate by maturity periods is set out in the following timetable. For interest rates applicable to each class of asset or liability refer to individual notes to the financial statements. Exposure arises predominantly from assets and liabilities bearing variable interest rates. Fixed Interest Rate Maturity Weighted Floating 1 year 1 to 5 Over 5 Non Interest Total Average Interest Rate or less years years Bearing Interest ($’000) ($’000) ($’000) ($’000) ($’000) ($’000) Rates (%) Interest Rate Exposure as at 30 June 2006 FINANCIAL ASSETS Cash at Bank 6,931 6,931 5.84 Trade Debtors 1,423 1,423 0.00 Other Receivables 1,636 1,636 0.00 Other Financial Assets 3,609 3,609 5.14 TOTAL FINANCIAL ASSETS 10,540 3,059 13,599 4.34 FINANCIAL LIABILITIES Trade Creditors (2,066) (2,066) 0.00 Accomodation Bonds (1,329) (1,329) 0.00 Other Liabilities (2,126) (2,126) 0.00 TOTAL FINANCIAL LIABILITIES(5,522) (5,522) 0.00 NET FINANCIAL ASSETS/LIABILITIES 10,540 (2,463) 8,077 Fixed Interest Rate Maturity Weighted Floating 1 year 1 to 5 Over 5 Non Interest Total Average Interest Rate or less years years Bearing Interest ($’000) ($’000) ($’000) ($’000) ($’000) ($’000) Rates (%) Interest Rate Exposure as at 30 June 2005 FINANCIAL ASSETS Cash at Bank 8,155 8,155 5.81 Trade Debtors 1,314 1,314 0.00 Other Receivables 2,491 2,491 0.00 Other Financial Assets 4,080 4,080 5.10 TOTAL FINANCIAL ASSETS 12,236 3,805 16,041 4.25 FINANCIAL LIABILITIES Trade Creditors (2,958) (2,958) 0.00 Accomodation Bonds (1,044) (1,044) 0.00 Other Liabilities (3,037) (3,037) 0.00 TOTAL FINANCIAL LIABILITIES(7,038) (7,038) 0.00 NET FINANCIAL ASSETS/LIABILITIES 12,236 (3,233) 9,003 (b) Credit Risk Exposure Credit risk represents the loss that would be recognised if counterparties failed to meet their obligations under their respective contracts at maturity. The credit risk on financial assets of the entity has been recognised in the Balance Sheet, as the carrying amount, net any provisions for doubtful debts. It is noted that there is no material exposure to any one individual debtor. (c) Net Fair Value of Financial Assets and Liabilities The carrying amount of financial assets and liabilities contained within these financial statements is representative of the fair value of each financial asset or liability. 63
Page 1 and 2:
Building for a brighter future West
Page 3 and 4:
Overview: Year in Brief Significant
Page 5 and 6:
Overview: At a glance INFORMATION M
Page 7 and 8:
Overview: Year in Review Human Reso
Page 9 and 10:
Overview: Our Profile What we do Ho
Page 11 and 12:
Overview: Overall Performance Expen
Page 13 and 14: Overview: Overall Performance Debto
Page 15 and 16: Corporate Governance: Board of Dire
Page 17 and 18: Corporate Governance: Organisation
Page 19 and 20: Our People: Occupational Health and
Page 21 and 22: Review of Operations: Environment a
Page 23 and 24: Review of Operations: Quality Repor
Page 29 and 30: Review of Operations: Acute (Hospit
Page 31 and 32: Review of Operations: Acute (Hospit
Page 33 and 34: Review of Operations: Aged Care Ser
Page 35 and 36: Review of Operations: Community Ser
Page 37 and 38: Review of Operations: Allied Health
Page 39 and 40: Our Community: Volunteers We enjoy
Page 41 and 42: Our Community: Donations and Sponso
Page 43 and 44: Staff List: Our Staff Allied Health
Page 45 and 46: Financial: Financial Results OPERAT
Page 47 and 48: Financial: Financial Results STATEM
Page 49 and 50: Financial: Financial Results Notes
Page 72 and 73: Financial: Auditor General’s Repo
Page 74 and 75: Appendices Statement of Fees and Ch
Page 76 and 77: Appendices Compliance Index Financi
Page 78 and 79: Index A Aboriginal Services 32 Acce
Page 80: Head Office: West Gippsland Hospita
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