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2. Financial Position

This section analyses the NFRA assets used to generate financial performance and the operating liabilities as a result. Employee related information is disclosed in the People and Relationships section.

2.1. Financial Assets

2020

$

Note 2.1A: Cash and cash equivalents

Cash on hand or on deposit

20,000

Total cash and cash equivalents

20,000

Note 2.1B: Trade and other receivables

Goods and services receivable

Employee leave transfers

206,466

GST receivable

2,132

Total goods and services receivable

208,598

Appropriations receivable

Appropriation receivable

1,047,844

Total appropriations receivable

1,047,844

Total trade and other receivables

1,256,442

All goods and services receivables are expected to be recovered within 12 months.

Credit terms for goods and services were within 30 days.

Accounting Policy

Financial assets

Trade receivables, loans and other receivables that are held for the purpose of collecting the contractual cash flows where the cash flows are solely payments of principal and interest and, are not provided at below-market interest rates, are subsequently measured at amortised cost using the effective interest method adjusted for any loss allowance.

2.2 Payables

2020

$

Note 2.2A: Supplier payables

Trade creditors and accruals

80,818

Total supplier payables

80,818

Suppliers are expected to be settled within 12 months.

Supplier settlement terms are 30 days.

Note 2.2B: Other payables

Wages and salaries

19,211

Superannuation

3,139

Total other payables

22,350