Financial Position

This section analyses the National Mental Health Commission's assets and liabilities.

3.1 Financial Assets

2020

2019

$

$

3.1A: Cash and Cash Equivalents

Cash on hand or on deposit

122,977

-

Total cash and cash equivalents

122,977

-

Accounting Policy

Cash is recognised at its nominal amount. Cash and cash equivalents include cash on hand and any 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.

3.1B: Trade and Other Receivables

Goods and services receivables

Goods and services

866,751

473,985

Total goods and services receivables

866,751

473,985

Appropriations receivables

For existing programs

3,324,485

2,713,045

Equity injection & Departmental capital budget

142,058

138,568

Total appropriations receivables

3,466,543

2,851,613

Other receivables

GST receivable from the Australian Taxation Office

57,786

55,402

Total other receivables

57,786

55,402

Total trade and other receivables (gross)

4,391,080

3,381,000

Total trade and other receivables (net)

4,391,080

3,381,000

Accounting Policy

Trade and Other Receivables

Trade and other receivables excluding appropriations 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, that are not provided at below-market interest rates, and are subsequently measured at amortised cost using the effective interest method adjusted for any loss allowance. Receivables for goods and services, which have 30 day terms (2018-19: 30 days), are recognised at the nominal amounts.