A biannual review by the Finance, Risk and Audit Committee of the performance of the Corporation’s individually managed funds in comparison with other managed funds investing in the Australian Bond and Australian Cash sectors; and Policies and procedures that guide employees in managing debtors. The Corporation holds no collateral to mitigate against credit risk. Credit quality of financial assets not past due or individually determined as impaired Not past Not past Past due Past due due nor due nor or or impaired impaired impaired impaired 2013 2013 2014 2014 $’000 $’000 $’000 $’000 Cash and cash equivalents 72,381 72,253 - - Trade and other receivables 1,285 21,386 1,466 281 Managed funds 145,872 147,391 - - Shares in unlisted companies 7,454 7,811 19,879 19,122 Total 226,992 248,841 21,345 19,403 Ageing of financial assets that are past due but not impaired for 2014 0 to 30 31 to 61 to 90 90+ Total days 60 days days days $’000 $’000 $’000 $’000 $’000 Receivables 689 - - 777 1,466 Total 689 - - 777 1,466 Ageing of financial assets that are past due but not impaired for 2013 0 to 30 31 to 60 61 to 90 90+ Total days days days days $’000 $’000 $’000 $’000 $’000 Receivables 45 - - 236 281 Total 45 - - 236 281 The following assets have been individually assessed as impaired: 2014 2013 $’000 $’000 Shares in unlisted companies 19,879 19,122 Factors that have been considered in assessing the shares as impaired include: the continued uncertainty in the success and ability of the companies to generate future economic benefits; and the decrease in the net assets of the companies.
A biannual review by the Finance, Risk and Audit Committee of the performance of the Corporation’s individually managed funds in comparison with other managed funds investing in the Australian Bond and Australian Cash sectors; and Policies and procedures that guide employees in managing debtors. The Corporation holds no collateral to mitigate against credit risk. Credit quality of financial assets not past due or individually determined as impaired Not past due nor impaired 2014 $’000 Not past due nor impaired 2013 $’000 Past due or impaired 2014 $’000 Past due or impaired 2013 $’000 Cash and cash equivalents 72,381 72,253 - - Trade and other receivables 1,285 21,386 1,466 281 Managed funds 145,872 147,391 - - Shares in unlisted companies 7,454 7,811 19,879 19,122 Total 226,992 248,841 21,345 19,403 Ageing of financial assets that are past due but not impaired for 2014 0 to 30 days $’000 31 to 60 days $’000 61 to 90 days $’000 90+ days $’000 Total $’000 Receivables 689 - - 777 1,466 Total 689 - - 777 1,466 Ageing of financial assets that are past due but not impaired for 2013 0 to 30 days $’000 31 to 60 days $’000 61 to 90 days $’000 90+ days $’000 Total $’000 Receivables 45 - - 236 281 Total 45 - - 236 281 The following assets have been individually assessed as impaired: 2014 2013 $’000 $’000 Shares in unlisted companies 19,879 19,122 Factors that have been considered in assessing the shares as impaired include: the continued uncertainty in the success and ability of the companies to generate future economic benefits; and the decrease in the net assets of the companies.
grdcannualreport2013-14inword.docx