Page 175 - Adopt-a-School Foundation 2016-2017 Annual Report

ADOPT-A-SCHOOL FOUNDATION NPC
NOTES TO THE ANNUAL FINANCIAL STATEMENTS
for the year ended 30 June 2017

3 financial instruments (continued)

fair value estimation
The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:
• Quoted prices (unadjusted) in active markets for identical assets or liabilities
(Level 1).
• Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is,
derived from prices)
(Level 2).
• Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (Level 3).
The following table presents the Foundation’s financial assets that are measured at fair value at 30 June 2017.

a) Quoted
Prices in Significant Significant
Recurring fair value Active Observable unobservable
measurements Markets Inputs Inputs
at 30 June 2017 Level 1 Level 2 Level 3 Total
R R R R
Financial Assets
Financial Assets at FVPL Sandvik Mining - - 1 400 000 1 400 000
OTGC Investments - - 3 732 094 3 732 094
Total Financial Assets - - 5 132 094 5 132 094

Quoted
Prices in Significant Significant
Recurring fair value Active Observable unobservable
measurements Markets Inputs Inputs
at 30 June 2016 Level 1 Level 2 Level 3 Total
R R R R
Financial Assets
Financial Assets at FVPL Sandvik Mining - - 1 800 000 1 800 000
OTGC Investments - - 2 097 924 2 097 924
Total Financial Assets - - 3 897 924 3 897 924

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