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

Note 6: Financial Assets

Notes to and Forming Part of the Financial Statements

Page last updated: 31 October 2014

 
2014
$'000
2013
$'000
Note 6A: Cash and Cash Equivalents
Special account
63,330
58,342
Total cash and cash equivalents
63,330
58,342
 
Note 6B: Trade and Other Receivables
Goods and services receivables in connection with
Related parties
146
1,454
External parties
6,816
6,572
Total goods and services receivables
6,962
8,026
 
Other receivables
GST receivable from the Australian Taxation Office
525
316
Total other receivables
525
316
 
Total trade and other receivables (gross)
7,487
8,342
 
Less impairment allowance 
Goods and services
(2,441)
(1,105)
Total impairment allowance account
(2,441)
(1,105)
Total trade and other receivables (net)
5,046
7,237
 
Trade and other receivables (net) are expected to be recovered 
No more than 12 months
5,046
7,237
Total trade and other receivables (net)
5,046
7,237
     
Trade and other receivables (gross) are aged as follows
Not overdue
5,656
6,062
Overdue by
0 to 30 days
882
533
31 to 60 days
94
332
61 to 90 days
105
127
More than 90 days
750
1,288
Total receivables (gross)
7,487
8,342
 
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
(744)
(978)
Total impairment allowance 
(2,441)
(1,105)

The impairment allowance includes disputed debts which are not overdue.
Credit terms for services are prescribed in the Therapeutic Goods Act 1989 and vary with the service provided.

Reconciliation of the impairment allowance
Movements in relation to 2014
 
Goods and
services
$'000
Total
$'000
Opening balance
(1,105)
(1,105)
Amounts written-off
464
464
Amounts recovered and reversed
462
462
Increase in allowance
(2,262)
(2,262)
Closing balance
(2,441)
(2,441)
Movements in relation to 2013
 
Goods and
services
$'000
Total
$'000
Opening balance
(972)
(972)
Amounts written-off
95
95
Amounts recovered and reversed
270
270
Increase in allowance
(498)
(498)
Closing balance
(1,105)
(1,105)
 
2014
$'000
2013
$'000
Note 6C: Other Financial Assets
Accrued revenue
173
373
Total other financial assets
173
373
 
Total other financial assets are expected to be recovered
No more than 12 months
173
373
Total other financial assets
173
373