Comcare - Australian Government
Comcare homeComcare Annual Report 2010-11 homeFinancials

Note 6: Financial assets

  2011
$’000
2010
$’000
 
6A Cash and cash equivalents
Cash at bank and on hand 9,903 5,622
Deposits at call 4,100 33,500
Term Deposits 197,000 160,000
Total cash and cash equivalents 211,003 199,122
 
 
6B Trade and other receivables
Goods and services 1,129 4,681
Total receivables for goods and services 1,129 4,681
 
For existing outputs receivable from Government 2,240,197 2,036,388
Total receivable from Government 2,240,197 2,036,388
 
Other receivables:
Third party claim recoveries receivable 17,700 19,400
Third party claim recoveries receivable – common law asbestos claims 29,800 27,150
Claims recoveries 3,373 3,556
GST receivable from the Australian Taxation Office 910 694
Other 1,359 -
Total other receivables 53,142 50,800
 
Total trade and other receivables (gross) 2,294,468 2,091,869
 
Less impairment allowance account:
Claims recoveries (1,253) (1,162)
Total impairment allowance account (1,253) (1,162)
 
Total trade and other receivables (net) 2,293,215 2,090,707
 
Receivables are expected to be recovered in:
Less than 12 months 260,179 267,250
More than 12 months 2,033,036 1,823,457
Total trade and other receivables (net) 2,293,215 2,090,707
 
Receivables are aged as follows:

Not overdue

2,291,334 2,088,719

Overdue by:

Less than 30 days

154 156

30 to 60 days

250 71

61 to 90 days

254 40

More than 90 days

2,476 2,883
Total receivables (gross) 2,294,468 2,091,869
 
The impairment allowance account is aged as follows:
Overdue more than 90 days (1,253) (1,162)
Total impairment allowance account (1,253) (1,162)

 

Reconciliation of the impairment allowance account:
Movements in relation to 2011
  Other
receivables
$’000

Total
$’000
Opening balance 1,162 1,162
Amounts written off (783) (783)
Increase/(decrease) recognised in net surplus 874 874
Closing balance 1,253 1,253
 
Movements in relation to 2010
  Other
receivables
$’000

Total
$’000
Opening balance 1,015 1,015
Amounts written off (81) (81)
Increase/(decrease) recognised in net surplus 228 228
Closing balance 1,162 1,162

 

  2011
$’000
2010
$’000
 
6C Other financial assets
Interest accrued 5,047 2,713
Other 3 -
Total other financial assets 5,050 2,713
 
Total other financial assets are expected to be recovered in:

 Less than 12 months

5,050 2,713

 More than 12 months

- -
Total other financial assets 5,050 2,713