annual report 2004
Statement of Compliance
Statement of Corporate Intent
The TASCORP Board
Chairman’s Report
Chief Executive Officer’s Report
The Tasmanian Economy
Functions and Powers
Commonwealth-State
Financial Relations
Credit Ratings
Additional Statutory Reporting
Global Distribution Group &
Facility Membership
TASCORP Client Listing
Staff
Corporate Governance
Standards
Financial Statements
- Financial Performance
- Financial Position
- Cash Flows
- Note 1: Summary of Accounting Policies
- Note 2: Revenue & Expenses
- Note 3: Profit from Ordinary Activities
- Note 4:Statement of Tax Equivalent
- Note 5: Investments
- Note 6: Advances
- Note 7:Property Plant & Equipment
- Note 8:Other Assets
- Note 9:Deposits
- Note 10: Borrowings
- Note 11: Derivative Financial Instruments
- Note 12: Other Liabilities
- Note 13: General Reserve
- Note 14: Reconciliation of Cash Flows
- Note 15: Net Fair Values
- Note 16a: Credit Risk
- Note 16b; Interest Rate Risk Management
- Note 16c: Foreign Exchange Risk Management
- Note 16d: Liquidity Risk
- Note 17: Liabilities & Commitments
- Note 18: Lease Commitments
- Note 19: Auditor's Remuneration
- Note 20: Directors Remuneration
- Note 21: Superannuation
- Note 22: Related Party Information
- Note 23: Disclosure of Impacts
- Certification Statement
- Independent Audit Report
Financial Statements home

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2004


NOTE 14: RECONCILIATION OF STATEMENT OF CASH FLOWS


(a)

Cash flows arising from the following activities are presented on a net basis in the Statement of Cash Flows:

  1. Advances and repayments to clients
  2. Maturing investments and purchase of new investments
  3. Deposits from and withdrawals by clients
  4. Proceeds from long-term debt issuances and repayments.


(b)

Cash and cash equivalents at the beginning and end of the reporting period are reconciled to the following items in the Statement of Financial Position:

2003-04
A$’000
Inflows/
(Outflows)
2002-03
A$’000
Inflows/
(Outflows)
Cash/(Bank Overdraft)
749
103
Advances at Call
60,824
44,833
Investments at Call
13,164
297,779
Short Term Securities
917,984
406,876
Borrowings at Call
(3,109)
0
Deposits at Call
(791,290)
(647,674)
Cash and Cash Equivalents
198,322
101,917


(c)

Reconciliation of Net Cash Inflow/(Outflow) from Operating Activities to Profit from Ordinary Activities after Income Tax Equivalent.

2003-04
A$’000
Inflows/
(Outflows)
2002-03
A$’000
Inflows/
(Outflows)
Profit from Ordinary Activities after Income Tax Equivalent
6,289
6,175
Depreciation
221
106
Gain of Sale of Fixed Assets
(2)
0
(Decrease) in Provision for Income Taxes Payable
(323)
(1,414)
(Decrease)/Increase in Employee Entitlement Provision
(41)
95
(Decrease)Increase in Accrued Expenses
(3)
127
(Decrease) in Interest and Foreign Exchange Hedging Payables
(8,742)
(36,642)
(Increase)/Decrease in Interest and Foreign Exchange Hedging Receivables
(9,495)
94,735
Decrease in Receivables
165
92
Decrease in deferred debt reconstruction write off
52
589
Net Cash (Outflow) Inflow From Operating Activities
(11,879)
63,863


(d)

Financing Facilities

  • TASCORP holds a substantial portfolio of liquid assets that can be readily sold.  In addition until 31 May 2004, a USD 20,000,000 committed funding line was held with a major international bank. The standby facility has not been utilised in the current financial year and has been cancelled.



homecontactustop