vary significantly between individual debtors. The services of a qualified actuary are utilised to establish the recoverable amount of these receivables. The credit risk on liquid funds is limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies. The carrying amount of the financial assets recorded in the financial statements, net of any allowances for losses, represents Victoria Legal Aid's maximum exposure to credit risk without taking account of the value of any collateral obtained. The maturity profile of financial assets held by Victoria Legal Aid are detailed in the following table. Note 18. Financial instruments (continued) Past due but not impaired Impairment Not past Less 3 Greater due and than Carrying not 1 1–3 months than 1 amount impaired month months – 1 year year 2016 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Financial assets Cash at bank and 9,282 9,282 - - - - - on hand Monies held in 1,821 1,821 - - - - - trust Accrued income 706 706 - - - - - Term deposits 39,421 39,421 - - - - - Receivables (i) 17,465 - - - 2,291 15,174 7,918 68,695 51,230 - - 2,291 15,174 7,918 2015 Financial assets Cash at bank and 3,268 3,268 - - - - - on hand Monies held in 2,034 2,034 trust - - - - - Accrued income 1,155 1,155 - - - - - Term deposits 38,933 38,933 - - - - - Receivables (i) 16,645 - - - 2,183 14,462 9,214 62,035 45,390 - - 2,183 14,462 9,214 Note (i): The carrying amounts disclosed here exclude statutory amounts (e.g. amounts owing from Victorian government and GST recoverable/payable). Liquidity risk
vary significantly between individual debtors. The services of a qualified actuary are utilised to establish the recoverable amount of these receivables. The credit risk on liquid funds is limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies. The carrying amount of the financial assets recorded in the financial statements, net of any allowances for losses, represents Victoria Legal Aid's maximum exposure to credit risk without taking account of the value of any collateral obtained. The maturity profile of financial assets held by Victoria Legal Aid are detailed in the following table. Note 18. Financial instruments (continued) Past due but not impaired 2016 Carrying amount $’000 Not past due and not impaired $’000 Less than 1 month $’000 1–3 months $’000 3 months – 1 year $’000 Greater than 1 year $’000 Impairment $’000 Financial assets Cash at bank and on hand 9,282 9,282 - - - - - Monies held in trust 1,821 1,821 - - - - - Accrued income 706 706 - - - - - Term deposits 39,421 39,421 - - - - - Receivables (i) 17,465 - - - 2,291 15,174 7,918 68,695 51,230 - - 2,291 15,174 7,918 2015 Financial assets Cash at bank and on hand 3,268 3,268 - - - - - Monies held in trust 2,034 2,034 - - - - - Accrued income 1,155 1,155 - - - - - Term deposits 38,933 38,933 - - - - - Receivables (i) 16,645 - - - 2,183 14,462 9,214 62,035 45,390 - - 2,183 14,462 9,214 Note (i): The carrying amounts disclosed here exclude statutory amounts (e.g. amounts owing from Victorian government and GST recoverable/payable). Liquidity risk
vla-annual-report-2015-16-accessible-version.docx