77 TE PŪRONGO 2013
Carrying Contractual Less than
More than
amount cash flows
1 year 1-2 years 2-5 years 5 years
$’000
$’000 $’000 $’000 $’000 $’000
Group 2013
Creditors and other payables
8,676
8,676 8,676
-
-
-
Accrued pay
577
577
577
-
-
-
Total
9,253
9,253 9,253
-
-
-
Group 2012
Creditors and other payables
10,562
10,562 10,562
-
-
-
Accrued pay
390
390
390
-
-
-
Total
10,952
10,952 10,952
-
-
-
Parent 2013
Creditors and other payables
9,759
9,759 9,759
-
-
-
Accrued pay
506
506
506
-
-
-
Total
10,265
10,265 10,265
-
-
-
Parent 2012
Creditors and other payables
16,387
16,387 16,387
-
-
-
Accrued pay
222
222
222
-
-
-
Total
16,609
16,609 16,609
-
-
-
(c) Liquidity risk
Management of liquidity risk
Liquidity risk is the risk that Te Wānanga o Aotearoa will encounter difficulty raising liquid funds to meet commitments as
they fall due. Prudent liquidity risk management implies maintaining sufficient cash, the availability of funding through an
adequate amount of committed credit facilities and the ability to close out market positions. Te Wānanga o Aotearoa aims to
maintain flexibility in funding by keeping committed credit lines available. Te Wānanga o Aotearoa has an overdraft facility
of $1 million in place as at 31 December 2013 (2012 - $1 million). The overdraft facility ceased on 17 January 2014. This was
a result of Te Wānanga o Aotearoa changing to a new banking provider.
Te Wānanga o Aotearoa manages liquidity risk by continuously monitoring forecast and actual cash flow requirements.
Contractual maturity analysis of financial liabilities
The table below shows an analysis of Te Wānanga o Aotearoa financial liabilities grouped according to maturity, based
on the remaining period at the balance date to the contractual maturity date. The amounts disclosed are the contractual
undiscounted cash flows.
Group
Group Parent
Parent
2013
2012
2013 2012
$’000
$’000
$’000 $’000
Counterparties with credit ratings
Cash at bank and term deposits
AA-
53,839 58,418 50,030 53,915
Total cash at bank and term deposits
53,839 58,418 50,030 53,915
Counterparties without credit ratings
Tauira and other receivables
Existing counterparty with no defaults in the past
3,176
3,248
3,059 2,938
Total debtors and other receivables
3,176
3,248
3,059 2,938
Total financial instrument assets
57,015 61,666 53,089 56,853
Credit quality of financial assets
