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APPENDIXES
QUEENSLAND ART GALLERY ANNUAL REPORT 2007–08 93
No collateral is held as security and no credit enhancements relate to financial assets held by the Gallery.
No financial assets and financial liabilities have been offset and presented net in the Balance Sheet. Cash and cash equivalent investments are held with a
financial institution with a Standard and Poor's short term credit rating of A-1+.
The other investments are held in either managed funds of shares, which have been assessed for credit risk by the Foundation's Investment sub-committee.
The method for calculating any provisional impairment for risk is based on past experience, current and expected changes in economic conditions and changes
in credit ratings.
No financial assets have had their terms renegotiated so as to prevent them from being past due or impaired, and are stated at the carrying amounts as indicated.
Aging of past due but not impaired as well as impaired financial assets are disclosed in the following tables:
Contractual Repricing/Maturity Date
2008 Financial Assets Past Due
Not
Less than 30
30 - 60
61 - 90
More than 90
Total financial
But Not Impaired
overdue
days overdue days overdue days overdue days overdue
Total
assets
$'000
$'000
$'000
$'000
$'000
$'000
$'000
Financial Assets
Receivables
831
363
45
7
205
1451
1451
Total
831
363
45
7
205
1451
1451
Contractual Repricing/Maturity Date
2007 Financial Assets Past Due
Not
Less than 30
30 - 60
61 - 90
More than 90
Total financial
But Not Impaired
overdue
days overdue days overdue days overdue days overdue
Total
assets
$'000
$'000
$'000
$'000
$'000
$'000
$'000
Financial Assets
Receivables
149
657
11
8
24
849
849
Total
149
657
11
8
24
849
849
Contractual Repricing/Maturity Date
2008 Impaired Financial Assets
Not
Less than 30
30 - 60
61 - 90
More than 90
Total financial
overdue
days overdue days overdue days overdue days overdue
Total
assets
$'000
$'000
$'000
$'000
$'000
$'000
$'000
Financial Assets
Receivables
-
-
-
-
-
-
-
Total
-
-
-
-
-
-
-
Contractual Repricing/Maturity Date
2007 Impaired Financial Assets
Not
Less than 30
30 - 60
61 - 90
More than 90
Total financial
overdue
days overdue days overdue days overdue days overdue
Total
assets
$'000
$'000
$'000
$'000
$'000
$'000
$'000
Financial Assets
Receivables
-
-
-
-
-
-
-
Total
-
-
-
-
-
-
-