New Zealand Gazette – 2000 – No. 71

Page 1606

✨ Financial Notes



1606
NEW ZEALAND GAZETTE
No. 71

Note 9 : Revenue

Use-of-System Charges 47,008 31,115
Other 1,612 118

                  48,620    31,233
                  =======   =======

Note 10 : Contingent Liabilities

There were no contingent liabilities as at 31 March 2000 (1999 nil).

Note 11 : Financial Instruments

Financial instruments which potentially subject the Lines Business to credit risk principally consist of cash and accounts receivable.

Credit Risk

Contracts have been entered into with various counter-parties having such credit ratings and in accordance with dollar limits as set forth by the board of directors.

Collateral

The Lines Business does not generally require collateral or other security to support service contracts. While the Lines Business may be subject to credit losses up to the notional value of the services or goods supplied in the event of non-performance by counter-parties, it does not expect such losses to occur.

Concentration of Credit Risk

Financial instruments which potentially subject the Lines Business to concentrations of credit risk principally consist of cash and accounts receivable.

The Lines Business places its cash and short-term investments with high credit quality financial institutions and sovereign bodies and limits the amount of credit exposure to any one financial institution.

The Lines Business has several large customers for which no collateral is required. These debtors are subject to normal on-going credit control procedures.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 71


Gazette.govt.nz — PDF NZ Gazette 2000, No 71




✨ LLM interpretation of page content

💰 Notes to the Accounts for 2000 and 1999 (continued from previous page)

💰 Finance & Revenue
Financial Statements, Revenue, Contingent Liabilities, Financial Instruments, Credit Risk, Collateral, Credit Exposure