Toowoomba Regional Council
Notes to the Financial Statements
for the year ended 30 June 2016
Note 11. Trade and Other Receivables
Notes
2016
$'000
2015
$'000
9,040
2,554
8,833
3,315
864
11,463
23,921
1,156
589
9,581
23,474
Current
Rateable Revenue and Utility Charges
Other Debtors
Accrued Revenues
- Interest on Investments
Prepayments
Fees and Charges
Total
less: Provision for Impairment
Rateable Revenue and Utility Charges
Total Provision for Impairment - Receivables
TOTAL CURRENT TRADE AND OTHER RECEIVABLES
(191)
(191)
(191)
(191)
23,730
23,283
20,874
22,334
Ageing of past due receivables and the amount of any impairment is as follows:
Not past due
Past due:
- 31 to 60 days overdue
- 61 to 90 days overdue
- Over 90 days overdue
Less: Impaired
Total
1,588
1,166
293
(191)
177
3
371
(191)
23,730
22,694
Interest is charged on outstanding rates at a rate of 10% per annum, calculated and charged half-yearly.
No interest is charged on other debtors. There is no concentration of credit risk for rates and utility charges,
fees and other debtors receivable.
The fair value of trade and other receivables and payables is assumed to approximate the value of the original
transaction, less any allowance for impariment.
page 22
158
CHAPTER 6 Financial report
TOOWOOMBA REGIONAL COUNCIL Annual Report 2015 - 2016