Broome Port Authority - Parliament of Western Australia

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At balance sheet date, if interest rates had moved as illustrated in the table below, with all the other variables held constant, the effect would be as follows: Interest Rate Risk Interest Rate Risk +25 basis points +50 basis points -25 Basis points -50 Basis points 2011 Financ ial Assets Cash & cash equivalents Total Increase/ (Decrease) Carrying Amount Profit Equity Profit Equity Profit Equity Profit Equity ($'000) ($'000) ($'000) ($'000) ($'000) ($’000) ($’000) ($’000) ($’000) 4,660 12 12 23 23 (12) (12) ( 23) (23) 12 12 23 23 (12) (12) ( 23) (23) 2010 Financial Assets Cash & cash equivalents Total Increase/(Decrease) 3,744 9 9 19 19 (9) (9) (19) (19) 9 9 19 19 (9) (9) ( 19) (19) The weighted average inertest rate for each category of financial instrument is as follows: 2011 Financial Assets & Liabilities Cash & cash equivalents Trade and other receivables Interest bearing borrowings Finance leases Trade and other payables Net Financial Assets/(Liabilities) Within one year Weighted Average Interest Rate Fixed Interest Rate Floating Interest rate Non Interest Bearing Total $’000 $’000 $’000 5.22% 4,660 4,660 1,781 1,781 5.82% (12,163) (12,163) 9.23% (69) (69) (746) (746) (12,232) 4,660 1,035 (6,537) Page 70 of 79
2010 Financial Assets & Liabilities Cash & cash equivalents Trade and other receivables Interst bearing borrowings Finance leases Trade and other payables Net Financial Assets/(Liabilities) Within one year Weighted Average Interest Rate Fixed Interest Rate Floating Interest rate Non Interest Bearing Total $ ’000 $’ 000 $’000 3. 95% 3, 744 3,744 1,288 1,288 5.57% (10,560) (10,560) 9.17% (118) (118) (836) (836) (10,678) 3,744 452 (6,482) Credit risk Credit risk arises when there is t he possib ility of the Author ity’s receivables defaulting on their obligations resulting in financial loss to the Authority. The Authority measures credit risk on a fair value basis and monitors risk on a regular basis. With respect to credit risk arising from cash and cash equivalents, the Authority’s exposure to credit risk arises with the default of the counter party, with a maximum exposure equal to the carrying amount of the cash and cash equivalents. The Authority operates predominantly within the shippin g industry and accordingly is e xposed to risks affecting that industry. The maximum exposure to cre dit risk at balance date in relation to each class of recognised fin ancial assets is the gross carrying amount of those assets inclusive of any provisions for impairment, as shown in the table at Note 23(ii). The Authority follows stringent credit control and management procedures in revi ewing and monitoring debtor accounts and outstanding balances as evidenced by the historical aged debtor balances. In addition, management of receivables includes frequent monitoring, t hereby minimising the Authority’s exposure to bad debts. For financial assets that are past due or impaired, refer t o note 13 ‘Trade and other receivables’. The Authority’s credit risk manage ment is further supported by rental agreements and se ctions 116 and 117 of the Port Authority’s Act 1999. Section 116 refers to the liability to pa y port charges in respect of vessels and Section117 refers to the liability to pay port charges in respect of goods. Port charges are defined in Section 115. Liquidity risk The Authority’s objective is to maintain a balance between continuity of funding and flexibility through the use of cash and cash reserves and its borrowing facilities. The Authority manages its exposure to liquidity risk by ensuring that appropriate procedures are in place to manage cash flows, including forecast cash flows, to ensure sufficient funds are available to meet its commitments. Page 71 of 79
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BROOME PORT AUTHORITY 2011 ANNUAL R
Page 3 and 4:
CONTENTS TABLES Table 1 - Agency Pe
Page 5 and 6:
2. CHAIRMAN’S REPORT Figure 2 - C
Page 7 and 8:
3. CEO’S REPORT Figure 3 - CEO Ca
Page 9 and 10:
4. AGENCY OVERVIEW 4.1. Agency Perf
Page 11 and 12:
The State Records Act 2000 BrPA has
Page 13 and 14:
• Salary Packaging Policy • IT
Page 15 and 16:
4.5. Organisational Structure MINIS
Page 17 and 18:
5. OPERATIONAL OVERVIEW 5.1. Operat
Page 19 and 20: 25.0 20.0 Hours 15.0 10.0 5.0 0.0 V
Page 21 and 22: 250,000 Tonnes 200,000 150,000 100,
Page 23 and 24: 5.3. Safety Review Commitment to Oc
Page 25 and 26: acceptable level of risk. BrPA has
Page 27 and 28: Dr Ian Burston AM - (retired) Chair
Page 29 and 30: 6.5. Planned Achievements Planned A
Page 31 and 32: 6.6. Dividends A dividend of $775,4
Page 33 and 34: 6.9. Strategy and Future Performanc
Page 35 and 36: Table 9 - Executive Emoluments 2010
Page 37 and 38: 8. STATEMENT OF FINANCIAL POSITION
Page 39 and 40: 10. STATEMENT OF CASH FLOW FOR THE
Page 41 and 42: 1. Basis of preparation a) Statemen
Page 43 and 44: 2. Summary of significant accountin
Page 45 and 46: f) Property, plant and equipment (i
Page 47 and 48: All impairment losses are recognise
Page 49 and 50: The Authority makes concurrent cont
Page 51 and 52: 3. Expenses by nature Operating exp
Page 53 and 54: 9. Other expenses 2011 2010 $'000 $
Page 55 and 56: 12. Cash & cash equivalents 2011 20
Page 57 and 58: Associated infrastructure At cost 2
Page 59 and 60: Furniture & Fittings Carrying amoun
Page 61 and 62: 15. Intangible Assets 2011 2010 $
Page 63 and 64: 2010 Fixed interest rate 1 year or
Page 65 and 66: 2011 $’000 Annual leave provision
Page 67 and 68: Correction of Prior Period Errors (
Page 69: 22. Financial instruments (i) Finan
Page 73 and 74: Net Maturity (12,966) 5,122 (369) (
Page 75 and 76: The present value of finance leases
Page 77 and 78: Directors’ declaration In the opi
Page 79: Page 79 of 79
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Broome Port Authority - Parliament of Western Australia

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