Online version of the 2013-14 Department of Health Annual Report

Note 7: Financial Assets

Notes to and Forming Part of the Financial Statements

Page last updated: 31 October 2014

 
2014
$'000
2013
$'000
Note 7A: Cash and cash equivalents
Special accounts
3,176
2,948
Cash on hand or on deposit
1,546
999
Cash in special accounts
78,270
72,537
Total cash and cash equivalents
82,992
76,484
 
Note 7B: Trade and other receivables
Goods and services receivable in connection with
Related parties
8,813
13,882
External parties
12,108
10,007
Total goods and services receivable
20,921
23,889
 
Appropriations receivables
Existing programs
92,936
114,273
Undrawn equity injection
32,353
51,983
Departmental capital budget
2,109
1,726
Total appropriations receivable
127,398
167,982
 
Other receivables
GST receivable from the Australian Taxation Office
1,367
3,046
Total other receivables
1,367
3,046
Total trade and other receivables (gross)
149,686
194,917
 
Less impairment allowance
Goods and services
(3,460)
(1,639)
Total impairment allowance
(3,460)
(1,639)
Total trade and other receivables (net)
146,226
193,278
 
Trade and other receivables (net) are expected to be recovered
No more than 12 months
145,975
193,278
More than 12 months
251
-
Total trade and other receivables (net)
146,226
193,278
 
Trade and other receivables are aged as follows
Not overdue
145,451
185,697
Overdue by
0 to 30 days
1,817
5,839
31 to 60 days
277
678
61 to 90 days
278
337
More than 90 days
1,863
2,366
Total trade and other receivables (gross)
149,686
194,917
 
The impairment allowance aged as follows
Not overdue
(1,503)
-
Overdue by:
0 to 30 days
(9)
-
31 to 60 days
(81)
-
61 to 90 days
(104)
(127)
More than 90 days
(1,763)
(1,512)
Total impairment allowance
(3,460)
(1,639)

Credit terms for goods and services were within: the Department 30 days (2013: 30 days), TGA 28 days (2013: 28 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 arrangement.

The impairment allowance not overdue of $1,503,000 relates to the TGA for disputed debts which are not overdue.

Reconciliation of the impairment allowance
Movements in relation to 2014
 
Goods and services
$'000
Total
$'000
Opening balance
(1,639)
(1,639)
Amounts written off
500
500
Amounts recovered and reversed
903
903
Increase recognised in net surplus
(3,224)
(3,224)
Closing balance
(3,460)
(3,460)
Movements in relation to 2013
 
Goods and services
$'000
Total
$'000
Opening balance
(1,386)
(1,386)
Amounts written off
174
174
Amounts recovered and reversed
383
383
Increase recognised in net surplus
(810)
(810)
Closing balance
(1,639)
(1,639)
 
2014
$'000
2013
$'000
Note 7C: Other financial assets
Accrued revenue
173
373
Total other financial assets
173
373
 
Other financial assets expected to be recovered
No more than 12 months
173
373
Total other financial assets
173
373