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Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally



Note 7: Financial Assets

 
2010
$'000
2009
$'000
Note 7A: Cash and Cash Equivalents    
Special Accounts 2,220 1,112
Cash on hand or on deposit 45,859 39,088
Cash held by outsiders 476 582
Total cash and cash equivalents 48,555 40,782
     
Note 7B: Trade and Other Receivables    
Good and Services:    
    Goods and services - related entities 12,036 22,141
    Goods and services - external parties 2,633 5,806
Total receivables for goods and services 14,669 27,947
     
Appropriations receivable:    
For existing outputs    
    - undrawn (Overseas Property Office) 295,385 261,299
    - undrawn (Other Departmental) 398,185 283,124
For additional outputs 18,155 32,435
Total appropriations receivable 711,725 576,858
     
Other receivables:    
    GST receivable from the Australian Taxation Office 3,182 2,476
    Advances 6,716 6,236
    Other 8,675 10,992
Total other receivables 18,573 19,704
Total trade and other receivables (gross) 744,967 624,509
     
Less impairment allowance account:    
    Goods and services (389) (502)
Total impairment allowance account (389) (502)
Total trade and other receivables (net) 744,578 624,007
     
Receivables are expected to be recovered in:    
    No more than 12 months 740,182 620,037
    More than 12 months 4,396 3,970
Total trade and other receivables (net) 744,578 624,007
     

All receivables are non-interest bearing.  Credit items are net 30 days (2009: 30 days).

Appropriations receivable undrawn are appropriations controlled by the Department but held in the Official Public Account under the Government's just-in-time drawdown arrangements.

Appropriations receivable for additional outputs are accrued revenues for services provided in the current year either under a purchasing agreement with the Government or by a Cabinet direction.  Funding for these services will be provided by appropriations in the subsequent year.

     
Note 7B: Trade and Other Receivables    
Receivables are aged as follows:    
Not overdue 738,978 609,711
Overdue by:    
     0 to 30 days 2,062 7,421
     31 to 60 days 102 1,462
     61 to 90 days 1,330 348
     More than 90 days 2,495 5,567
Total receivables (gross) 744,967 624,509
     
The impairment allowance account is aged as follows:    
Not overdue  -  -
Overdue by:    
     0 to 30 days  -  -
     31 to 60 days  -  -
     61 to 90 days  -  -
     More than 90 days 389 502
Total impairment allowance account 389 502

 

Reconciliation of the Impairment Allowance Account:

Movements in relation to 2010      
 
Goods and
services
$'000
Other
receivables
$'000
Total
$'000
Opening balance 163 339 502
    Amounts written off  -  -  -
    Amounts recovered and reversed (163) (35) (198)
    Increase/(decrease) recognised in net surplus 61 24 85
Closing balance 61 328 389
       
Movements in relation to 2009      
 
Goods and
services
$'000
Other
receivables
$'000
Total
$'000
Opening balance  - (305) (305)
    Amounts written off  -  -  -
    Amounts recovered and reversed  - 2 2
    Increase/(decrease) recognised in net surplus (163) (36) (199)
Closing balance (163) 339 (502)

Next page: Note 8: Non-Financial Assets
Previous page: Note 6: Other Comprehensive Income

Department of Foreign Affairs and Trade