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Note 2.1: Financial Assets

2019

2018

$'000

$'000

Note 2.1A - Cash and Cash Equivalents

Cash and cash equivalents (NLA funds)

6,423

10,490

Cash and cash equivalents (Trust funds)

2,106

1,342

Short term deposit (NLA funds)

10,124

2,561

Total Cash and Cash Equivalents

18,653

14,393

Accounting policy

Cash

Cash is recognised at its nominal amount. Cash and cash equivalents includes cash on hand and deposits in bank accounts with an original maturity of 3 months or less that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value.

2019

2018

$'000

$'000

Note 2.1B - Trade and Other Receivables

Goods and services receivables

Goods and services

1,184

1,495

Total goods and services receivables

1,184

1,495

Other receivables

GST receivable from Australian Taxation Office

276

388

Interest

115

345

Total other receivables

391

733

Total trade and other receivables (gross)

1,575

2,228

Less impairment allowance

(41)

(4)

Total trade and other receivables (net)

1,534

2,224

Credit terms are net 30 days (2018: 30 days)

Accounting Policy

Loans and receivables

Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as `loans and receivables’. Loans and receivables are measured at amortised cost using the effective interest method less impairment. Interest is recognised by applying the effective interest rate.

Reconciliation of the Impairment Allowance

Movements in relation to 2018

Goods and services

Other receivables

Total

$'000

$'000

$'000

As at 1 July 2018

4

-

4

Amounts written off

-

-

-

Amounts recovered and reversed

-

-

-

Increases recognised in net cost of services

37

-

37

Total as at 30 June 2019

41

-

41

Movements in relation to 2018

Goods and services

Other receivables

Total

$'000

$'000

$'000

As at 1 July 2017

( 2)

-

( 2)

Amounts written off

-

-

-

Amounts recovered and reversed

-

-

-

Increases recognised in net cost of services

( 2)

-

( 2)

Total as at 30 June 2018

( 4)

-

( 4)

Accounting Policy

Impairment of financial assets

Financial assets are assessed for impairment at the end of each reporting period.

2019

2018

$'000

$'000

Note 2.1C - Other Investments

Fixed term deposit (NLA funds)

33,413

30,977

Fixed term deposit (Trust funds)

8,167

7,990

Total other investments

41,580

38,967

Other investments are expected to be recovered in less than 12 months.

Accounting policy

Other investments

Other investments are recognised at its nominal amount. Other investments includes term deposits at bank with an original maturity of greater than 3 months.