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Notes to the Financial Statements for the year ended 30 June 2005 NOTE 21. NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 2005 Consolidated Corporation 2005 2004 2005 2004 $’000 $’000 $’000 $’000 (a) Components of Cash Cash on Hand 91 93 91 83 Cash at Bank/(Overdraft) (4,608) (9,371) (4,619) (9,371) Investment securities 1,343 11,433 1,343 11,433 (3,174) 2,155 (3,185) 2,145 (b) Reconciliation of operating profit from ordinary activities after income tax expense to cash provided by operating activities 86 Profit from Ordinary Activities after Income Tax Expense 98,719 78,339 97,036 75,273 Consolidation Adustment - (2,252) - - Items classified as investing/finance activities: (Profit)/loss on sale of property, plant and equipment (814) (1,373) (814) (1,373) Net Community Service Obligation expense 6 179 6 179 Deferred Interest 1,019 - 1,019 - Non-cash items: Amounts set aside to provisions (2,969) 60,785 (2,469) 60,785 Depreciation 145,256 127,887 140,961 123,606 Amortisation 2,947 2,981 1,063 1,097 Write down of non-current assets 1,470 - 1,470 - Prepaid superannuation (13,241) (6,403) (13,241) (6,403) Increase/(decrease) in deferred taxes payable 10,390 20,919 10,390 17,102 Changes in assets and liabilities during the financial year: (Increase)/decrease in unread meters (35,880) (39,057) (35,880) (39,057) (Increase)/decrease in receivables 7,633 (16,443) 9,881 (10,672) (Increase)/decrease in inventories (441) (593) (441) (593) (Increase)/decrease in prepayments and other current assets (19,602) (3,027) (19,602) (2,926) (Increase)/decrease in operating non-current receivables 58 892 58 892 (Increase)/decrease in other operating non-current assets (18,251) (7,143) (18,260) 397 Increase/(decrease) in operating payables 17,306 33,199 17,921 33,896 Increase/(decrease) in customer deposits (1,741) 1,416 (1,741) 1,416 Increase/(decrease) in other operating liabilities 649 (58) 1,005 (702) Net cash provided by operating activities 192,514 250,248 188,362 252,917 COUNTRY ENERGY ANNUAL REPORT 2004–2005
Notes to the Financial Statements for the year ended 30 June 2005 NOTE 22. FINANCIAL INSTRUMENTS – CONSOLIDATED (a) Interest Rate Risk The Corporation enters into contracts to manage cash flow risks associated with the interest rates on borrowings that are floating, or to alter interest rate exposures arising from mismatches in repricing dates between assets and liabilities. The Corporation’s exposure to interest rate risk and the effective weighted average interest rate for classes of financial assets and financial liabilities is set out below: Fixed interest rate maturing in: Weighted avg. interest rate Total Non-interest bearing More than 5 years 1 year or less 1 to 5 years Floating interest rate Note 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 % % 2005 Financial Assets Cash 7 - - - - - - - - 91 93 91 93 - - Investments 7,10 1,343 11,433 - - - - - - - - 1,343 11,433 5.59 5.25 Receivables 8 - - 105 204 143 109 - - 422,340 381,427 422,588 381,740 5.07 10.37 Other 11 - - - - - - - - 53,620 15,765 53,620 15,765 - - Total Financial Assets 1,343 11,433 105 204 143 109 - - 476,051 397,285 477,642 409,031 2005 Financial Liabilities Overdraft 16 4,608 9,371 - - - - - - - - 4,608 9,371 8.60 8.35 Borrowings 16 351,787 416,306 270,517 114,928 577,586 636,973 534,419 346,864 - - 1,734,309 1,515,071 6.31 6.03 Payables 15 - - - - - - - - 255,078 237,776 255,078 237,776 - - Other 14,18 1,000 1,000 - - - - - - 19,826 21,589 20,826 22,589 - 3.83 Total Financial Liabilities 357,395 426,677 270,517 114,928 577,586 636,973 534,419 346,864 274,904 259,365 2,014,821 1,784,807 87 COUNTRY ENERGY ANNUAL REPORT 2004–2005
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Becoming Australia’s leading util
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Priorities in 2004-2005 Country Ene
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A leader in safety 5 COUNTRY ENERGY
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Detailed audit schedules have been
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Workers compensation In addition to
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A successful national retailer 11 C
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Looking inside We recognise that ou
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This resulted in the campuses reduc
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The best network manager 17 COUNTRY
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The table below highlights some exa
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• Large snowfalls in the Snowy Mo
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Vegetation management The managemen
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Information services In addition to
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A responsible environmental manager
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One of the most rewarding aspects o
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Our increasing involvement in proje
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Waste management A code of practice
Page 35 and 36: A valued part of the community 35 C
Page 37 and 38: Increased presence Our program of r
Page 39 and 40: Nu 1000 0 2002-2003 2003-2004 2004-
Page 41 and 42: Sponsorship spend $82,424 $125,000
Page 43 and 44: An employer of choice 43 COUNTRY EN
Page 45 and 46: Apprentices by region / operational
Page 47 and 48: Employees also initiated a fundrais
Page 49 and 50: Employee assistance program Country
Page 51 and 52: Our Executive Craig Murray - Managi
Page 53 and 54: Director Current appointment Board
Page 55 and 56: Risk management Country Energy appr
Page 57 and 58: Executive remuneration At the end o
Page 59 and 60: Consultants A total of $1.3 million
Page 61 and 62: • Electricity Industry Act 2000 N
Page 63 and 64: Financial statements contents Indep
Page 65 and 66: Statement by Members of the Board 6
Page 67 and 68: Statement of Financial Position as
Page 69 and 70: Notes to the Financial Statements f
Page 85: Notes to the Financial Statements f
Page 97 and 98: Customer information The following
Page 99 and 100: Index A Achievements inside cover A
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