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Wool Stocktake : AWI Annual Report 2016-17
NOTE 8: CURRENT ASSETS - CASH AND CASH EQUIVALENTS Consolidated 2017 2016 $'000 $'000 Cash at bank and in hand 9,024 6,544 Further details of cash and cash equivalents are set out in note 9. NOTE 9: CURRENT ASSETS - HELD-TO-MATURITY INVESTMENTS Consolidated 2017 2016 $'000 $'000 Term deposits 85,186 74,017 Cash and cash equivalents (note 8) and held-to-maturity investments are represented as follows: Unrestricted 45,455 30,906 Restricted as security against guarantees issued by the company's bankers(a) 3,455 3,455 Forward contract commitments(b) 15,300 17,400 Emergency funds(c) 5,000 5,000 Operating funds(c) 25,000 23,800 94,210 80,561 (a) Bank guarantees have been issued to a number of parties in respect of the company's liabilities. The company has given its primary bankers security over term deposits in respect of those amounts, such deposits attracting commercial interest rates. (b) A reserve of $15.3 million has been created to cover contracted forward commitments. (c) The directors resolved to set aside $5 million as emergency funds to cover any contingent expenditure arising from the wool industry's obligation under the Emergency Animal Disease Response Agreement. Operating funds represent nine months of AWI operating costs to cover unexpected cessation of levy and grant revenue. NOTE 10: CURRENT ASSETS - TRADE AND OTHER RECEIVABLES Consolidated 2017 2016 $'000 $'000 Net trade receivables Trade receivables 4,458 5,520 Provision for doubtful receivables (10) (25) 4,448 5,495 Net other receivables Commonwealth matching funds and wool levy accruals 8,504 6,552 Other receivables 2,927 3,545 11,431 10,097 Prepayments Insurance 174 198 Other 557 814 731 1,012 16,610 16,604 FINANCIAL REPORT 77
AWI Annual Report 2015-16