Page 328 - Department of Social Development Annual Report 2021

PART E: FINANCIAL INFORMATION

DISASTER RELIEF FUND

Notes To The Financial Statements Of The Disaster Relief Fund For The Year Ended
31 March 2021.

9.1.7 Foreign exchange risk
The fund does not hedge foreign exchange fluctuations. The fund does not have any foreign account receivables,
foreign accounts payables or derivative market instruments.

9.1.8 Price risk
Due to the nature and extent of the fund, there is no exposure to price risks.

10. Cash and Cash Equivalents

2020/21 2019/20
Cash - Bank Deposits 1 031 50 732
Cash - Corporation for Public Deposits 30 442 49 260
Cash - Public Investment Corporation
Total 31 473 99 992

Credit quality of cash at bank and short term deposits, excluding cash on hand. The credit quality of cash at bank
and short term deposits, excluding cash on hand that are neither past due nor impaired can be assessed by
reference to external credit ratings (if available) or historical information about counterparty default rates.

11. Retained Income
2020/21 2019/20
Accumulated surplus /(Accumulated deficit) 100 110 95 064
Net Profit / Deficit for this year (70 886) 5 046
Total 29 224 100,110

12. Cash generated from/(utilized in) Operations

2020/21 2019/20
Surplus/ (deficit) before tax (70 886) 5 046
(Interest received) (1 182) (6 603)
Increase in payables 2 372 -
(Increase) in receivables (5) (118)
Net cash flow from operating activities (69 701) (1 675)

328 DEPARTMENT OF SOCIAL DEVELOPMENT ANNUAL REPORT 2020/21