The department has collaborative arrangements with other parties to perform research and share in the outputs (ie intellectual property) in 40. Affiliated bodies proportion to each participant’s research input, initial intellectual There are no affiliated bodies with the Department of Agriculture and property or cash contributions. These collaborative arrangements Food Western Australia. also share the characteristics of joint venture operations. The principal activities of these joint venture operations are scientific research and development, extension and technology transfer with 41. Jointly controlled operations the ultimate aim of sharing in the output. The numbers of this type of (a) Major Cooperative Research Agreements Audited 2009 – arrangement make it impractical to list separately. The department’s Joint Venture name and Interest Termination contributions to these joint ventures are included in the department’s principal activities (%) date operating statements. Cooperative Research 5.49% 30-10-10 Centre for Emerging 42. Financial instruments Infectious Diseases (a) Financial risk management objectives and policies Cooperative Research 4.76% 14-06-10 Centre for Spatial Financial instruments held by the department are cash and cash Information equivalents, restricted cash and cash equivalents, amounts Cooperative Research 14.30% 30-06-14 receivables for services, receivables, payables and available for sale Centre for financial assets. All of the department’s cash is held in the public Cooperative Research 11.30% 30-06-14 bank account (non-interest bearing) apart from restricted cash held Centre for Future Farm in a special purpose account. The department has limited exposure Industries to financial risks. The department’s overall risk management Cooperative Research 0.72% 30-06-10 program focuses on managing the risks identified below. Centre for Desert Knowledge Credit risk Cooperative Research 1.74% 30-06-12 Credit risk arises when is the possibility of the department’s Centre for Cotton receivables defaulting on their contractual obligations resulting in Catchment Communities financial loss to the department. Cooperative Research 8.72% 30-06-10 Centre for Molecular The maximum exposure to credit risk at balance sheet date in Plant Breeding relation to each class of recognised financial assets is the gross (b) joint ventures carrying amount of those assets inclusive of any provisions for impairment, as shown in the table at note 42(b), note 22 and note 25.
40. Affiliated bodies There are no affiliated bodies with the Department of Agriculture and Food Western Australia. 41. Jointly controlled operations (a) Major Cooperative Research Agreements – Audited 2009 Joint Venture name and principal activities Interest (%) Termination date Cooperative Research Centre for Emerging Infectious Diseases 5.49% 30-10-10 Cooperative Research Centre for Spatial Information 4.76% 14-06-10 Cooperative Research Centre for 14.30% 30-06-14 Cooperative Research Centre for Future Farm Industries 11.30% 30-06-14 Cooperative Research Centre for Desert Knowledge 0.72% 30-06-10 Cooperative Research Centre for Cotton Catchment Communities 1.74% 30-06-12 Cooperative Research Centre for Molecular Plant Breeding 8.72% 30-06-10 (b) joint ventures The department has collaborative arrangements with other parties to perform research and share in the outputs (ie intellectual property) in proportion to each participant’s research input, initial intellectual property or cash contributions. These collaborative arrangements also share the characteristics of joint venture operations. The principal activities of these joint venture operations are scientific research and development, extension and technology transfer with the ultimate aim of sharing in the output. The numbers of this type of arrangement make it impractical to list separately. The department’s contributions to these joint ventures are included in the department’s operating statements. 42. Financial instruments (a) Financial risk management objectives and policies Financial instruments held by the department are cash and cash equivalents, restricted cash and cash equivalents, amounts receivables for services, receivables, payables and available for sale financial assets. All of the department’s cash is held in the public bank account (non-interest bearing) apart from restricted cash held in a special purpose account. The department has limited exposure to financial risks. The department’s overall risk management program focuses on managing the risks identified below. Credit risk Credit risk arises when is the possibility of the department’s receivables defaulting on their contractual obligations resulting in financial loss to the department. The maximum exposure to credit risk at balance sheet date in relation to each class of recognised financial assets is the gross carrying amount of those assets inclusive of any provisions for impairment, as shown in the table at note 42(b), note 22 and note 25.
Department%20of%20Agriculture%20and%20Food%20Annual%20report%202010%20-%20Word.docx