Parent 2007
<1 Year
>1 - <2 Years
>2 - <3 Years
>3 - <4 Years
>4 - <5 Years
>5 Years
Total
$'000
$'000
$'000
$'000
$'000
$'000
$'000
17,415
-
-
-
-
-
17,415
17,415
-
-
-
-
-
17,415
3,286
-
-
-
-
-
3,286
3,286
-
-
-
-
-
3,286
6,000
-
-
-
-
-
6,000
39
34
29
25
22
128
277
6,039
34
29
25
22
128
6,277
Floating rate assets Cash
2006 Floating rate assets Cash
Other Liabilities at amortised cost Crown loan Landcorp mortgage
Interest on financial instruments classified as floating rate is repriced at intervals of less than one year. Interest on financial instruments classified as fixed rate until maturity of the instrument. The other financial instruments of the Group and Parent that are not included in the above tables are non-interest bearing.
D.
Sensitivity Analysis The following table demonstrates the impact on net surplus and equity of a reasonably possible change in interest rates prevailing at balance sheet date. Surplus Inc/ (dec) 2007
Equity Inc/ (dec) 2007
Surplus Inc/ (dec) 2006
Equity Inc/ (dec) 2006
$'000
$'000
$'000
$'000
+ 100 basis points
108
108
56
56
- 100 basis points
(108)
(108)
(56)
(56)
Change in interest rate
The values above are derived by determining the difference between the annual income and expense on cash balances and loans held during the year using prevailing reasonably possibly adjustments to interest rates.
E.
Capital Management Te Wänanga o Aotearoa’s capital is its equity, which comprises accumulated funds and other reserves. Equity is represented by net assets. Te Wänanga o Aotearoa is subject to the financial management and accountability provisions of the Tertiary Education Commission (TEC), who impose restrictions in relation to borrowings, acquisition of securities, issuing guarantees and indemnities and the use of derivatives. Te Wänanga o Aotearoa manages its equity as a by-product of prudently managing revenues, expenses, assets, liabilities, investments, and general financial dealings to ensure Te Wänanga o Aotearoa effectively achieves its objectives and purpose, whilst remaining a going concern.
Notes to the Financial Statements
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