Parks Victoria - Annual Report 2009-10

NOTES TO THE FINANCIAL STATEMENTSFor The Financial Year Ended 30 June 201033 Financial Instruments (Continued)(e) Liquidity RiskLiquidity risk arises when the Park Victoria is unable to meet its financial obligations as they fall due.Park Victoria operates under the Government fair payments policy of settling financial obligations within30 days and in the event of a dispute, make payments within 30 days from the date of resolution. It alsocontinuously manages risks through monitoring future cash flows and maturities planning to ensureadequate holding of high quality liquid assets and dealing in highly liquid markets.Parks Victoria’s exposure to liquidity risk is deemed insignificant based on prior periods’ data and currentassessment of risk. Cash for unexpected events is generally sourced from liquidation of available-for-salefinancial investments.The following table discloses the contractual maturity analysis for the Park Victoria’s financial liabilitiesTable 33.3: Interest rate exposure and maturity analysis of financial liabilitiesCarryingamountNonInterestBearingMaturity dates$’000Less than1 month1–3months3 months– 1 year 1–5 years2010Amounts payable to other government agencies 3,107 3,107 3,107 – – –Other payables 17,987 17,987 17,987 – – –21,094 21,094 21,094 – – –2009Amounts payable to other government agencies 2,416 2,416 2,416 – – –Other payables 16,839 16,839 16,839 – – –19,255 19,255 19,255 – – –Parks Victoria - Annual Report 2009-10 93