FASSET ANNUAL REPORT

24. Risk management (continued) Interest rate risk FASSET manages its interest rate risk by effectively investing FASSET surplus cash in term deposits with the Corporation for Public Deposits according to FASSET’s investment policy.

The exposure to cash flow interest rate risk and the effective interest rates on financial instruments at reporting date are as follows:

2021

Floating rate Non-interest bearing

Total

Cash

851 432

-

851 432

Receivables from exchange transactions

- - - - -

20

20

Projects receivables

17 727 (6 652) (35 882) (9 662) (34 449)

17 727 (6 652) (35 882) (9 662) 816 983

Payables from exchange transactions

Project accruals Project creditors

851 432

2020

Floating rate Non-interest bearing

Total

Cash

787 582

-

787 582

Receivables from exchange transactions

- - - - -

49

49

Project receivables

23 075 (2 350) (46 222) (18 623) (44 071)

23 075 (2 350) (46 222) (18 623) 743 511

Payables from exchange transactions

Project accruals Projects creditors

787 582

25. Going concern The entity is currently established until 31 March 2030. There are no known instances which cast doubt on the SETA’s ability to continue as a going concern for the next 12 months. The Audited Annual Financial Statements have been prepared on the basis of accounting policies applicable to a going concern. This basis presumes that funds will be available to finance future operations and that the realisation of assets and settlement of liabilities, contingent obligations and commitments will occur in the ordinary course of business.

FASSET Annual Integrated Report 2020/21

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