Annual Report - Northern Health

Note 19: Financial Instruments (continued)Notes To and Forming Part of the Financial StatementsNorthern Health Annual Report 2011/2012(c) Liquidity RiskLiquidity risk is the risk that Northern Health would be unable to meet its financial obligations as and when they fall due.Northern Health's maximum exposure to liquidity risk is the carrying amounts of financial liabilities as disclosed in the face of the balance sheet.The following table discloses the contractual maturity analysis for Northern Health's financial liabilities. For interest rates applicable to each class of liability refer to individual notes to the financialstatements.Maturity analysis of financial liabilities as at 30 JuneCarryingAmountContractualCash FlowsLess than 1MonthMaturity Dates1-3 Months 3 months - 1Year2012 $'000 $'000 $'000 $'000 $'000 $'0001-5 YearsFinancial LiabilitiesPayables 25,086 25,086 7,115 17,047 906 18Interest Bearing Liabilities 375 375 - 60 180 135Other Financial Liabilities 6 6 - 6 - -Total Financial Liabilities 25,467 25,467 7,115 17,113 1,086 1532011Financial LiabilitiesPayables 15,731 15,731 5,423 10,002 306 -Interest Bearing Liabilities 615 615 - 60 180 375Other Financial Liabilities 3 3 - 3 - -Total Financial Liabilities 16,349 16,349 5,423 10,065 486 375Ageing analysis of financial liabilities excludes statutory financial liabilities (i.e. GST payable)(d) Fair ValueNorthern Health considers that the carrying amount of financial instrument assets and liabilities recorded in the financial statements to be a fair approximation of their fair values, because of theshort-term nature of the financial instruments and the expectation that they will be paid in full.The aggregate net fair value of financial assets and liabilities, both recognised and unrecognised, at the balance date are equal to their carrying amount as per the balance sheet.Northern Health Financial Report Appendix to the 2011 - 2012 Annual Report Page 47 of 60