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Annual Financial Statements for year ended 30 June 2012
51
19. Current Liabilities – Trade & Other Payables
Nature of Liability
2011-2012
$
2010-2011
$
Trade creditors
7,554,360
4,066,618
Payroll
772,537
476,621
Accrued Expenses - Annual Leave Entitlements (1)
2,630,054
2,640,359
Accrued Expenses - Interest on loans
173,165
190,171
Trust funds
0
5,686
Sundry creditors
276,878
250,462
Total
11,406,994
7,629,917
Liabilities are recognised for amounts to be paid in the future for goods and services received. These liabilities
are settled in 44 days on average. (2010-2011: 25 days)
(1) Of the annual leave entitlement total, $1,066,103 (2010-2011: $1,055,433) is expected to be settled within
the next 12 months.
The Council has risk management policies in place to ensure that all payables are paid within credit timeframe.
20. Current Liabilities – Borrowings
Lending Authority
2011-2012
$
2010-2011
$
Local Govt. Finance Auth.
6,078,230
2,677,527
SA Government Finance Authority
0
100,000
Total
6,078,230
2,777,527
Loan facilities are secured by debentures charged on the general revenue of the Council.
21. Current Liabilities – Short Term Provisions
Nature of Liability
2011-2012
$
2010-2011
$
Long Service Leave Entitlement (1)
4,942,959
4,420,500
Productivity Incentive and Parenting leave Entitlement (2)
2,591,534
2,562,094
Provision for Western Region
Waste Management Authority(3)
0
0
Total
7,534,493
6,982,594
(1) Of the Long Service Leave Entitlement total, $4,295,736 (2010-2011: $3,808,109) is not expected to be
settled in the next 12 months.
(2) Of the Productivity Incentive and Parenting Leave Entitlement total, $2,442,584 (2010-2011 : $2,415,608)
is not expected to be settled in the next 12 months.
(3) The detail of this provision is outlined in note 28.
22. Non-current Liabilities – Long Term Borrowings
Lending Authority
2011-2012
$
2010-2011
$
Local Govt. Finance Authority
14,487,746
20,565,976
Total
14,487,746
20,565,976
Loan facilities are secured by debentures charged on the general revenue of the Council.
23. Non-current Liabilities – Long Term Provisions
Nature of Liability
2011-2012
$
2010-2011
$
Provision for Long Service Leave
405,253
400,258
Provision for Western Region
Waste Management Authority deficit.(1)
115,548
126,619
Total
520,801
526,877
(1) The detail of this provision is outlined in note 28.
Notes to the Financial Statements