Parks Victoria - Annual Report 2009-10

NOTES TO THE FINANCIAL STATEMENTSFor The Financial Year Ended 30 June 201033 Financial Instruments(a) Financial risk management objectivesParks Victoria’s activities expose it primarily to the financial risks of changes in interest rates. ParksVictoria does not enter into derivative financial instruments to manage its exposure to interest rate risk.Parks Victoria does not enter into or trade financial instruments, including derivative financialinstruments for speculative purposes as per the Victorian Governments Borrowing and Investment PowersAct 1987 and subsequent amendments.The policies for managing this risks is discussed in more detail below.(b) Significant Accounting PoliciesDetails of the significant accounting policies and methods adopted, including the criteria for recognition,the basis of measurement and the basis on which income and expenses are recognised, in respect of eachclass of financial asset, financial liability and equity instrument are disclosed in note 2 to the financialstatements.The carrying amounts of Park Victoria’s financial assets and financial liabilities by category are in Table33.1 below.Table 33.1: Categorisation of Financial InstrumentsNote CategoryFinancial assetsCash and cash equivalents 14 N/A 36,543 48,593Receivables 33.2 Loans and receivables (at amortised cost) 2,923 2,601Other financial assets 16 Available-for-sale financial assets (at fair value) 60,000 20,0002010$’0002009$’000Financial liabilitiesPayables 21 21,094 19,255Note:(a) The amount of receivables disclosed here exclude statutory receivables (i.e. Amounts owing fromVictorian Government and GST input tax credit recoverable). For 2010 this was $6.7M (2009 $4.2M).(c) Significant Terms and ConditionsThere are no significant terms and conditions applicable to Parks Victoria, in respect of each class offinancial asset, financial liability and equity instrument.Parks Victoria - Annual Report 2009-10 91