Tweddle annual report_2014_final

About Tweddle 1
Services and Highlights of 2013 -14 2
Tweddle Board Members 3
Leadership Report 4
Services 6
Psychology Service 10
Social Support Program 11
Community Programs 14
Research 17
Corporate Report 18
Quality 21
Declarations and Compliance 22
Organisational Chart 23
Governance & Accountability 24
Thank you to donors & community partners 25
Life Governors 26
Contents

53 Adelaide Street Footscray
Victoria 3011 Australia
Tel + 61 3 9689 1577
Fax + 61 3 9689 1922
Web www.tweddle.org.au

Services
1. Assessments
2. Pre-intake assessments with clients and health professionals
3. Referrals and liaison with referrers
4. Advice only calls

2012-13 2013-14
No. beds available each
day of operation 7-8 (M-F) 7-8 (M-F)
(Closed Alternate Weekends) 7 (S&S) 7 (S&S)
Clients discharged 1627 1683
Average length of stay (days) 3.65 3.01
Total No. of Bed Days 7453 5061
Occupancy (%) 105.00 102.87
0-7 Days
8-14 Days
15-30 Days
31-60 Days
61-90 Days
28%
11%
27%
23%
11%

Barwon S/W
Eastern Metro
Gippsland
Grampians
Hume
Loddon-Mallee
North West Metro
70%
16%
4%
4%
4%
1%
0%

120
100
80
60
40
20
0 Domesticviolence
Stress/highanxiety
Isolation
Childdisability
(includingmentalhealth,Intellectual
disabilityordebilitatingillness)
Adultdisability
(includingmentalhealth,Intellectual
disabilityordebilitatingillness)
Housing
DrugandAlcohol
Financial
120
100
80
60
40
20
0
Primaryrelationship
(partner/husband)
Otherrelationship
(significantothers)
griefandloss
Transitionto
parenting-dads
Transitionto
parenting-mums
Fatherslackof
parentingconfidence
Motherslackof
parentingconfidence
Differentparentingstyles
Parentingtogether
asateam

12%
8%
18%
14%
23%
25% Footscray
Altona Meadows
Essendon
Wyndham Vale
Point Cook
Werribee Gold

PRACTICE
FRAMEWORK
The environment in which
we work:
Government Frameworks
and Policy
Statutory legislation
and regulations
Socio-economic
trends
The outcomes we seek to
achieve with our families:
Parenting Confidence
Safety, Stability and
healthy development
Improved overall health
Connectedness to
community
Improved family
relationships
Resilience
The house containing the models and
interventions that guide our practice:
Case work, goals and planning
Care Teams
Assessment
Sleep & Settling
Play based activities
Community based activities
Therapy and counselling
Secondary consultation
Group work
Psycho-education
Health promotion
Attachment
Child Development
Trauma Culturally sensitive
Strengths based Relationship based
Gender role sensitivity Ecological systems
Community Development Social Model of Health
Our foundations representing the philosophies,
beliefs, vision and values of the organisation:
Organisation history Cultural diversity Social Justice
Gender Equality Empowerment Self-determination
Human rights Healthy and resilient families
O
ur
Theories
and
Perspectives
provide
a
fram
ew
ork
for
our
practice:

Board of
Management
Chief Executive
Officer
Director
Corporate
Services
Director
Of Clinical
Services
(Nursing)Executive Assistant
Qualtiy
OHS
Psychology
A & I
Social
Support
Practice
Lead
Residential
Services
PASDS Program
Day Stay
Home Visiting
MyTime
PlaySteps
Prison
Childbirth Education
Community Programs
Accounts
& Payroll
Workforce
Development
Workforce
Wellbeing
Operations
Coordinator
Domestic
Services
Clinical Support
Communications
and Fundraising
Frontline
Health Information
Management
Administration &
Human Resources
Support

Board member's, accountable officer's and chief finance and accounting
officer's declaration
We certify that the attached financial report for Tweddle Child and Family Health Service has been
prepared in accordance with Standing Direction 4.2 of the Financial Management Act 1994, applicable
Financial Reporting Directions, Australian Accounting Standards, Australian Accounting Interpretations
and other mandatory professional reporting requirements.
We further state that, in our opinion, the information set out in the comprehensive operating
statement, balance sheet, statement of changes in equity, cash flow statement and notes to and
forming part of the financial statements, presents fairly the financial transactions during the year ended
30 June 2014 and financial position of Tweddle Child and Family Health Service as at 30 June 2014.
At the time of signing, we are not aware of any circumstance which would render any particulars
included in the financial statements to be misleading or inaccurate.
We authorise the attached financial report for issue on this day.
Ms. Nicole Milburn Ms. Jacquie O'Brien Mr. Nick Catton
Chairperson Chief Executive Officer Director of Corporate
Services
Footscray Footscray Footscray
Date: 10th
September 2014 Date: 10th
September 2014 Date: 10th
September 2014
Tweddle Child & Family Health Services Audited Financial Statements 30 June 2014
Page 1 of 56

Tweddle Child & Family Health Service
Note 2014 2013
$ $
Revenue from Operating Activities 2 4,366,156 4,361,665
Revenue from Non‐operating Activities 2 2,437 11,787
Employee Benefits 3 (3,622,249) (3,442,041)
Non Salary Labour Costs 3 (25,651) (31,104)
Supplies & Consumables 3 (89,142) (78,832)
Other Expenses from Continuing Operations 3 (656,388) (794,881)
Net Result Before Capital & Specific Items (24,837) 26,594
Capital & Specific Purpose Items
Capital Purpose Income 2 255,027 237,734
Brokerage Fees 3 (43,212) (41,871)
Depreciation and Amortisation 4 (186,779) (162,609)
Impairment loss building revaluation 3 (104,890) ‐
Net Capital & Specific Items (79,854) 33,254
Net Result for the Year (104,691) 59,848
Other Comprehensive Income
Net fair value gains/(losses) on Available for Sale Financial Investments 13 227,269 290,978
Land & Buildings Revaluations
Land revaluation increment/ decrement 13 1,634,000 ‐
Buildings revaluation increment/ decrement 13 (184,005) ‐
Total Capital & Specific Items 1,492,719 384,080
COMPREHENSIVE RESULT FOR THE YEAR 1,572,573 350,826
Comprehensive Operating Statement For the Year Ended 30 June 2014
Page 2 of 56

Balance Sheet
For the Year Ended 30 June 2014
Note 2014 2013
$ $
ASSETS
Current Assets
Cash and Cash Equivalents 5 9,115 185,647
Receivables 6 106,385 73,628
Other Financial Assets 7 4,061,761 3,554,179
Other Current Assets 8 10,000 ‐
Total Current Assets 4,187,261 3,813,454
Non‐Current Assets
Property, Plant & Equipment 9 6,271,056 4,934,211
Intangible Assets 10 125,701 167,282
Total Non‐Current Assets 6,396,757 5,101,493
TOTAL ASSETS 10,584,018 8,914,947
LIABILITIES
Current Liabilities
Payables 11 217,240 137,018
Provisions 12 513,692 468,985
Total Current Liabilities 730,932 606,003
Non‐Current Liabilities
Provisions 12 143,842 172,273
Total Non‐Current Liabilities 143,842 172,273
TOTAL LIABILITIES 874,774 778,276
NET ASSETS 9,709,244 8,136,671
EQUITY
Asset Revaluation Reserve 13a 4,303,417 2,853,422
Available for Sale Revaluation Reserve 13a 803,423 576,154
Restricted Specific Purpose Reserve 13a 416,474 416,474
Contributed Capital 13b 3,587,206 3,587,206
Accumulated Surpluses 13c 598,724 703,415
TOTAL EQUITY 9,709,244 8,136,671
Commitments 16
Contingent Assets and Liabilities 22
Page 3 of 56

2014 Changes due to
Equity at 30
June 2013
Comprehensive
Result
Equity at 30 June
2014
Note $ $ $
Accumulated Surplus/(Deficit) 703,415             (104,691)                 598,724
Contribution by Owners 13b 3,587,206 3,587,206
Reserves
Property Plant and Equipment Revaluation Surplus 13a 2,853,422 1,449,995 4,303,417
Available for Sale Investments Revaluation Surplus 13a 576,154 227,269 803,423
3,846,050 1,677,264 5,523,314
Total Equity at the end of the financial year 8,136,671        1,572,573               9,709,244
2013 Changes due to
Equity at 30
June 2012
Comprehensive
Result
Equity at 30 June
2013
Note $ $ $
Accumulated Surplus/(Deficit) 643,567             59,848 703,415
Contribution by Owners 13b 3,587,206 3,587,206
Reserves
Property Plant and Equipment Revaluation Surplus 13a 2,853,422 2,853,422
Available for Sale Investments Revaluation Surplus 13a 285,176 290,978 576,154
3,555,072 290,978 3,846,050
Total Equity at the end of the financial year 7,785,845        350,826                  8,136,671
Statement of Changes in Equity
For the Year Ended 30 June 2014
Page 4 of 56

Note 2014 2013
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Grants from Government 4,353,263 4,316,169
Interest Received from Operations 17,381 11,787
Other Receipts - -
Employee Benefits Paid (3,547,393) (3,960,461)
Payments for Supplies & Consumables (918,572) (718,079)
Fringe Benefits Tax Paid - (9,755)
Other (Payments) / Receipts 33,626 237,734
Net Cash (Used)/Generated from Operations (61,695) (122,605)
Capital Grants from Government - -
CCaappiittaall DDoonnaattiioonnss aanndd BBeeqquueessttss RReecceeiivveedd 88,804 110,155
Capital Interest Received - -
Capital Dividends Received - -
Other Capital Receipts 34,109 -
NNEETT CCAASSHH IINNFFLLOOWW FFRROOMM OOPPEERRAATTIINNGG AACCTTIIVVIITTIIEESS 14 61,218 (12,450)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Property, Plant & Equipment (99,567) (138,181)
Purchase of Intangible Assets (38,183) (19,120)
Proceeds from Sale of Other Financial Assets (100,000) 199,019
Purchase of Other Financial Assets - (188,730)
NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES (237,750) (147,012)
CASH FLOWS FROM FINANCING ACTIVITIES
Contributed Capital (DHS) - -
NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES - -
NET INCREASE IN CASH & CASH EQUIVALENTS HELD (176,532) (159,462)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 185,647 345,109
CASH AND CASH EQUIVALENTS AT END OF YEAR 5 9,115 185,647
Cash Flow Statement For the Year Ended 30 June 2014
Page 5 of 56

Table of Contents
Note Description Page
1 Statement of Significant Accounting Policies 7
2 22
3 25
4 28
5 28
6 29
7 29
8 30
9 31
10 37
11 38
12 39
13 40
14 41
15 42
16 53
17 54
18 55
19 55
20
Revenue
Expenses
Depreciation and Amortisation
Cash and Cash Equivalents
Receivables
Other Financial Assets
Other Assets
Property, Plant and Equipment
Intangible Assets
Payables
Employee Benefits
Equity & Reserves
Reconciliation of Net Result for the Year to Net Cash Inflow / (Outflow) from Operating Activities
Financial Instruments
Commitments
Segment Reporting
Responsible Persons and Executive Officer Disclosures
Remuneration of Auditors
Events Occurring After the Balance Sheet Date 55
21 Summary of Financial Results 56
22 Contingent Assets and Liabilties 56
Page 6 of 56

Note 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
(a) Statement of compliance
These financial statements are a general purpose financial report which has been prepared in accordance with the
Financial Management Act 1994 and applicable Australian Accounting Standards (AASs). They are presented in a
manner consistent with the requirements of AASB 101 Presentation of Financial Statements. Accounting policies
are selected and applied in a manner which ensures that the resulting financial information satisfies the concepts
of relevance and reliability, thereby ensuring that the substance of the underlying transactions or other events is
reported.
The financial statements also comply with relevant Financial Reporting Directions (FRDs) issued by the Department
of Treasury and Finance, and relevant Standing Directions (SDs) authorised by the Minister for Finance.
The annual financial statements were authorised for issue by the board of Tweddle Child and Family Health Service
on 10 September 2014.
(b) Basis of accounting preparation and measurement
The accounting policies set out below have been applied in preparing the financial statements for the year ended
30 June 2014, and the comparative information presented in these financial statements for the year ended 30 June
2013.
The going concern basis was used to prepare the financial statements.
These financial statements are presented in Australian dollars, the functional and presentation currency of the
Health Service.
The financial statements, except for cash flow information, have been prepared using the accrual basis of
accounting. Under the accrual basis, items are recognised as assets, liabilities, equity, income or expenses when
they satisfy the definitions and recognition criteria for those items, that is they are recognised in the reporting
period to which they relate, regardless of when cash is received or paid.
The financial statements are prepared in accordance with the historical cost convention, except for: non‐current
physical assets, which subsequent to acquisition, are measured at a revalued amount being their fair value at the
date of the revaluation less any subsequent accumulated depreciation and subsequent losses. Revaluations are
made and are re‐assessed with sufficient regularity to ensure that the carrying amounts do not materially differ
from their fair values; and available‐for‐sale investments which are measured at fair value with movements
reflected in equity until the asset is derecognised (i.e. other comprehensive income ‐ items that may be reclassified
subsequent to net result).The fair value of assets other than land is generally based on their depreciated
replacement value. Historical cost is based on the fair values of the consideration given in exchange for assets.
In the application of AASs, management is required to make judgments, estimates and assumptions about carrying
values of assets and liabilities that are not readily apparent from other sources. The estimates and associated
assumptions are based on professional judgements derived from historical experience and various other factors
that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Page 7 of 56

Judgements and assumptions made by management in the application of AAS that have significant effects on the
financial statements and estimates relate to the fair value of land, buildings, infrastructure, plant and equipment,
(refer to Note 1(j)) and employee benefits Note 12.)
The accounting policies set out below have been applied in preparing the financial statements for the year ended
30 June 2014 and the comparative information presented in these financial statements for the year ended 30 June
2013.
Consistent with AASB 13 Fair Value Measurement, Tweddle determines the policies and procedures for both
recurring fair value measurements such as property, plant and equipment, investment properties and financial
instruments, and for non‐recurring fair value measurements such as non‐financial physical assets held for sale, in
accordance with the requirements of AASB 13 and the relevant FRDs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole:
 Level 1 – Quoted (unadjusted) market prices in active markets for identical assets or liabilities
 Level 2 – Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable
 Level 3 – Valuation techniques for which the lowest level input that is significant to the fair value
measurement is unobservable.
For the purpose of fair value disclosures, Tweddle has determined classes of assets and liabilities on the basis of
the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained
above.
In addition, Tweddle determines whether transfers have occurred between levels in the hierarchy by re‐assessing
categorisation (based on the lowest level input that is significant to the fair value measurement as a whole) at the
end of each reporting period. The Valuer‐General Victoria (VGV) is Tweddle’s independent valuation agency.
VGV engaged a third party independent valuer to value Tweddle’s land and buildings at 30 June 2014.
(c) Reporting Entity
The reporting entity is Tweddle Child and Family Health Service. The principal address is;
53 Adelaide Street Footscray, Vic 3011.
(d) Functional and Presentation Currency
The presentation currency of Tweddle Child and Family Health Service is the Australian dollar, which has also been
identified as the functional currency of the Health Service.
Page 8 of 56

(e)   Expense recognition
Expenses are recognised as they are incurred and reported in the financial year to which they relate.
Cost of goods sold
Costs of goods sold are recognised when the sale of an item occurs by transferring the cost or value of the item/s
from inventories.
Employee expenses
Employee expenses include:
 wages and salaries;
 annual leave;
 sick leave;
 long service leave; and
 superannuation expenses
Depreciation
All infrastructure assets, buildings, plant and equipment and other non‐financial physical assets that have finite
useful lives are depreciated (i.e. excludes land assets held for sale, and investment properties). Depreciation begins
when the asset is available for use, which is when it is in the location and condition necessary for it to be capable
of operating in a manner intended by management.
Intangible produced assets with finite lives are depreciated as an expense from transactions on a systematic basis
over the asset’s useful life.
Depreciation is generally calculated on a straight line basis, at a rate that allocates the asset value, less any
estimated residual value over its estimated useful life. Estimates of the remaining useful lives, residual value and
depreciation method for all assets are reviewed at least annually, and adjustments made where appropriate. This
depreciation charge is not funded by the Department of Health. Assets with a cost in excess of $1,000 are
capitalised and depreciation has been provided on depreciable assets so as to allocate their cost or valuation over
their estimated useful lives.
The following table indicates the expected useful lives of non‐current assets on which the depreciation charges are
based.
2014 2013
Buildings Up to 40 years Up to 40 years
Plant & Equipment Up to 10 years Up to 10 years
Computers and Communication Up to 3 years Up to 3 years
Furniture and Fitting Up to 10 years Up to 10 years
Motor Vehicles Up to 5 years Up to 5 years
Computer Software development Up to 5 Years Up to 5 Years
Page 9 of 56

Intangible produced assets with finite lives are depreciated as an expense on a systematic basis over the asset’s
useful life.
Amortisation
Amortisation is allocated to intangible non‐produced assets with finite useful lives on a systematic (typically
straight‐line) basis over the asset’s useful life. Amortisation begins when the asset is available for use, that is, when
it is in the location and condition necessary for it to be capable of operating in the manner intended by
management. The consumption of intangible non‐produced assets with finite useful lives is classified as
amortisation.
The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed
at least at the end of each annual reporting period. In addition, an assessment is made at each reporting date to
determine whether there are indicators that the intangible asset concerned is impaired. If so, the asset concerned
is tested as to whether its carrying value exceeds its recoverable amount.
Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually or
whenever there is an indication that the asset may be impaired. The useful lives of intangible assets that are not
being amortised are reviewed each period to determine whether events and circumstances continue to support an
indefinite useful life assessment for that asset. In addition, the Health Service tests all intangible assets with
indefinite useful lives for impairment by comparing the recoverable amount for each asset with its carrying
amount:
● annually; and
 whenever there is an indication that the intangible asset may be impaired
Any excess of the carrying amount over the recoverable amount is recognised as an impairment loss.
Intangible assets with finite useful lives are amortised over a period up to 5 years.
(f) Scope and Presentation of Financial Comprehensive Operating Statement
The Comprehensive operating statement includes the subtotal entitled “Net Result Before Capital & Specific Items
to enhance the understanding of the financial performance of Tweddle Child and Family Health Service. This
subtotal reports the result excluding items such as capital grants; assets received or provided free of charge,
depreciation, and items of an unusual nature and amount such as specific revenues and expenses. The exclusion of
these items is made to enhance matching of income and expenses so as to facilitate the comparability and
consistency of results between years and Victorian Public Health Services. The ‘Net Result Before Capital &
Specific Items’ is used by the management of Tweddle Child and Family Health Service, the Department of Health
and the Victorian Government to measure the ongoing performance of Health Services in operating hospital
services.
Capital and specific items, which are excluded from this sub‐total, comprise:
Capital purpose income, which comprises all tied grants, donations and bequests received for the purpose of
acquiring non‐current assets, such as capital works, plant and equipment or intangible assets. Consequently the
recognition of revenue as capital purpose income is based on the intention of the provider of the revenue at the
time the revenue is provided.
Page 10 of 56

Depreciation and amortisation as described in Note 1 (e).
Expenditure using capital purpose income, comprises expenditure which either falls below the asset capitalisation
threshold or doesn’t meet asset recognition criteria and therefore does not result in the recognition of an asset in
the balance sheet, where funding for that expenditure is from capital purpose income.
Other Comprehensive income
Includes the realised and unrealised gains on the investment portfolio.
Balance Sheet
Assets and liabilities are categorised either as current or non current.
Statement of Changes in Equity
The statement of changes in equity presents reconciliations of each non owner and owner equity opening balance
at the beginning of the reporting period to the closing balance of the end of the reporting period. It also shows
separately changes due to amounts recognised in the comprehensive result and amounts recognised in other
comprehensive income related to other non‐owner changes in equity.
Cash Flow Statement
Cash flows are classified according to whether or not they arise from operating activities, investing activities, or
financing activities. This classification is consistent with requirements under AASB 107 Statement of Cash Flows.
(g) Change in accounting policies
AASB 13 Fair Value Measurement
AASB 13 establishes a single source of guidance for all fair value measurements. AASB 13 does not change
when a health service is required to use fair value, but rather provides guidance on how to measure fair value
under Australian Accounting Standards when fair value is required or permitted. Tweddle has considered the
specific requirements relating to highest and best use, valuation premise, and principal (or most
advantageous) market. The methods, assumptions, processes and procedures for determining fair value were
revised and adjusted where applicable. In light of AASB 13, Tweddle has reviewed the fair value principles as
well as its current valuation methodologies in assessing the fair value, and the assessment has not materially
changed the fair values recognised.
AASB 13 has predominantly impacted the disclosures of Tweddle. It requires specific disclosures about fair
value measurements and disclosures of fair values, some of which replace existing disclosure requirements in
other standards, including AASB 7 Financial Instruments: Disclosures.
The disclosure requirements of AASB 13 apply prospectively and need not to be provided for comparative
periods, before initial application. Consequently, comparatives of these disclosures have not been provided
for 2012‐13, except for financial instruments, of which the fair value disclosures are required under AASB 7
Financial Instruments Disclosures.

Page 11 of 56

AASB 119 Employee Benefits
In 2013‐14, Tweddle has applied AASB 119 Employee Benefits (Sep 2011, as amended), and related
consequential amendments for the first time.
The revised AASB 119 changes the accounting for defined benefit plans and termination benefits. The most
significant change relates to the accounting for changes in defined benefit obligation and plan assets. As the
current accounting policy is for the Department of Treasury and Finance to recognise and disclose the State’s
defined benefit liabilities in its financial statements, changes in defined benefit obligations and plan assets
will have limited impact on Tweddle.
The revised standard also changes the definition of short‐term employee benefits. These were previously
benefits that were expected to be settled within 12 months after the end of the reporting period in which the
employees render the related service, however, short‐term employee benefits are now defined as benefits
expected to be settled wholly within 12 months after the end of the reporting period in which the employees
render the related service. As a result, accrued annual leave balances which were previously classified as
short‐term employee benefits no longer meet this definition and are now classified as long‐term employee
benefits. This has resulted in a change of measurement for the annual leave provision from an undiscounted
to discounted basis.
Tweddle considers change in classification has not materially altered its measurement of the annual leave
provision.
(h) Income from transactions
Income is recognised in accordance with AASB 118 Revenue and is recognised to the extent it is earned. Unearned
income at reporting date is reported as income received in advance. Amounts disclosed as revenue are, where
applicable, net of returns, allowances and duties and taxes.
Government Grants
Government Grants are recognised as income when Tweddle Child and Family Health Service gains control of the
underlying assets in accordance with AASB 1004 Contributions. Yet a distinction is made between reciprocal. and
non reciprocal grants. Where grants received in advance are reciprocal, revenue is deferred and reported as
Income in Advance due to the non‐completion of the service at reporting date. The revenue is then recognised as
performance occurs under the grant. Non‐reciprocal grants are recognised as revenue when Tweddle Child and
Family Health Services gains control of transfer, that is, the grant is received or receivable. Conditional grants may
be reciprocal or non reciprocal depending on the terms of the grant.
Indirect Contributions
Insurance is recognised as revenue following advice from the Department of Human Services.
Long Service Leave (LSL) Revenue is recognised upon finalisation of movements in LSL liability in line with the
arrangements set out in the Acute Health Division Hospital Circular 05/2013.
Patient Fees
Patient fees are recognised as revenue at the time invoices are raised.
Page 12 of 56

Donations and Other Bequests
Donations and bequests are recognised as revenue when received, except when specific reference is made to a
financial year. If donations are for a special purpose, they may be appropriated to a reserve, such as specific
restricted purpose reserve.
Dividend Revenue
Dividend revenue is recognised on a receivable basis.
Interest Revenue
Interest revenue is recognised on a proportionate basis that takes in account the effective yield of the financial
asset.
(i) Financial Instruments
Where relevant, for note disclosure purposes, a distinction is made between those financial assets and financial
liabilities that meet the definition of financial instruments in accordance with AASB 132 and those that do not.
Categories of non derivative financial instruments;
Loans and receivables
Loans and receivables are financial instrument assets with fixed and determinable payments that are not quoted
on an active market. These assets are initially recognised at fair value plus any directly attributable transaction
costs. Subsequent to initial measurement, loans and receivables are measured at amortised cost using the
effective interest method, less any impairment.
Loans and receivables category includes cash and deposits (refer to Note 1(f)), term deposits with maturity greater
than three months, trade receivables, loans and other receivables, but not statutory receivables.
Available for sale financial assets
Available for sale financial instrument assets are those designated as available for sale or not classified in any other
category of financial instrument asset.
Such assets are initially recognised at fair value. Subsequent to initial recognition, they are measured at fair value
with gains and losses arising from changes in fair value, recognised in other comprehensive income until the
investments are disposed. Movements resulting from impairment and foreign currency changes are recognised in
the net result.
Fair value is determined in the manner described in Note 7 Other Financial Assets. Available for sale category
includes certain equity investments and those debt securities that are designated as available for sale. Financial
instruments at fair value through profit or loss are initially measured at fair value and attributable transaction costs
are expensed as incurred. Subsequently, any changes in fair value are recognised in the net result. Any dividend or
interest on a financial asset is recognised in the net result from transactions.

Page 13 of 56

Financial liabilities at amortised cost
Financial instrument liabilities are initially recognised on the date they are originated. They are initially measured
at fair value plus any directly attributable transaction costs.
Subsequent to initial recognition, these financial instruments are measured at amortised cost with any difference
between the initial recognised amount and the redemption value being recognised in profit and loss over the
period of the interest bearing liability, using the effective interest rate method (refer to Note 17)
Financial instrument liabilities measured at amortised cost include all payables, deposits held and advances
received, and interest bearing arrangements other than those designated at fair value through profit or loss.
(j) Assets
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and cash at bank, deposits at call and highly liquid investments
with an original maturity date of three months or less, which are held for the purpose of meeting short term cash
commitments rather than for investment purposes, which are readily convertible to known amounts of cash and
are subject to insignificant risk of changes in value.
For the Cash Flow Statement presentation purposes, cash and cash equivalents includes bank overdrafts. Bank
overdrafts are shown within borrowings in current liabilities in the Balance Sheet.
Receivables
Trade debtors are carried at nominal amounts due and are due for settlement within 30 days from the date of
recognition. Collectability of debts is reviewed on an ongoing basis, and debts which are known to be uncollectible
are written off. A provision for doubtful debts is raised where doubt as to collection exists. Bad debts are written
off when identified.
Inventories
Inventories include goods and other property held either for sale or for distribution in the ordinary course of
business operations. It excludes depreciable assets.
Inventories are measured at the lower of cost and net realisable value. Cost is determined principally by the first
in, first out method.
Cost of Goods Sold
Costs of goods sold are recognised when the sale of an item occurs by transferring the cost or value of the item/s
from inventories.
Other Financial Assets
Other financial assets are recognised and derecognised on trade date where purchase or sale of an investment is
under a contract whose terms require delivery of the investment within the timeframe established by the market
concerned, and are initially measured at fair value, net of transaction costs. Other financial assets are classified
Page 14 of 56

between current and non‐current assets based on Tweddle Child and Family Health Service’s Board of
Management’s intention at balance date with respect to the timing of disposal of each asset.
Tweddle Child and Family Health Service classifies its other financial assets as loans and receivables and available
for sale assets. Investments are classified as current assets as each asset within the portfolio can be held for short
to long periods before it is traded.
Other financial assets classified as being available for sale are stated at fair value. Gains and losses arising from
changes in fair value are recognised directly in equity, until the investment is disposed of or is determined to be
impaired, at which time to the extent appropriate, the cumulative gain or loss previously recognised in equity is
included in the operating statement for the period.
Dividend revenue is recognised on an accrual basis. Interest revenue is recognised on a time proportionate basis
that takes into account the effective yield on the financial asset.
Intangible Assets
Intangible assets represent identifiable non‐monetary assets without physical substance such as patents,
trademarks, and computer software and development costs (where applicable). Intangible assets are initially
recognised at cost. Subsequently, intangible assets with finite useful lives are carried at cost less accumulated
amortisation and accumulated impairment losses. Costs incurred subsequent to initial acquisition are capitalised
when it is expected that additional future economic benefits will flow to the entity.
Amortisation is allocated to intangible assets with finite useful lives on a straight line basis over the asset’s useful
life. Amortisation begins when the asset is available for use, that is, when it is in the location and condition
necessary for it to be capable of operating in the manner intended by management. The amortisation period and
the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each
annual reporting period. In addition, an assessment is made at each reporting date to determine whether there
are indicators that the intangible asset concerned is impaired. If so, the assets concerned are tested as to whether
their carrying value exceeds their recoverable amount.
Property, Plant and Equipment
Crown Land is measured at fair value with regard to the property’s highest and best use after due consideration is
made for any legal or constructive restrictions imposed on the asset, public announcements or comments made in
relation to the intended use of the asset. Theoretical opportunities that may be available in relation to the asset(s)
are not taken into account until it is virtually certain that any restrictions will no longer apply.
Land and Buildings are recognised initially at cost and subsequently measured at fair value less accumulated
depreciation.
Plant, Equipment and Vehicles are measured initially at cost less accumulated depreciation and impairment.
Revaluations of Non‐Current Assets
Non‐current physical assets measured at fair value are revalued in accordance with FRD 103D. This revaluation
process normally occurs every five years, as directed by timelines in FRD 103D which sets the next revaluation to
occur in the year commencing 1 July 2018. Revaluation increments or decrements arise from differences between
an asset’s carrying value and fair value.
Page 15 of 56

Revaluation increments are credited directly to the asset revaluation reserve, except that, to the extent that an
increment reverses a revaluation decrement in respect of that class of asset previously recognised as an expense in
net result, the increment is recognised as revenue in the net result.
Revaluation decrements are recognised immediately as expenses in the net result, except that, to the extent that a
credit balance exists in the asset revaluation reserve in respect of the same class of assets, they are debited
directly to the asset revaluation reserve.
Revaluation increases and revaluation decreases relating to individual assets within class of property, plant and
equipment are offset against one another within that class but are not offset in respect of assets in different
classes.
Depreciation and Amortisation
Assets with a cost in excess of $1,000 are capitalised and depreciation has been provided on depreciable assets so
as to allocate their cost or valuation over their estimated useful lives using the straight line method. Estimates of
the remaining useful lives and depreciation method for all assets are reviewed at least annually. This depreciation
charge is not funded by the Department of Human Services (DHS).
Net Gain/(Loss) on Non‐Financial Assets
Net gain/(loss) on non‐financial assets includes realised and unrealised gains and losses from revaluations,
impairments and disposals of all physical assets and intangible assets.
Disposal of Non‐Financial Assets
Any gain or loss on the sale of non‐financial assets is recognised at the date that control of the asset is passed to
the buyer and is determined after deducting from the proceeds the carrying value of the asset at that time.
Impairment of Assets
All assets are assessed annually for indications of impairment.
If there is an indication of impairment, the assets concerned are tested as to whether their carrying value exceeds
their recoverable amount. Where an asset’s carrying value exceeds its recoverable amount, the difference is
written off by a charge to the operating statement except to the extent that the write down can be debited to an
asset revaluation reserve amount applicable to that class of asset.
It is deemed that, in the event of the loss of an asset, the future economic benefits arising from the use of the
asset will be replaced unless a specific decision to the contrary has been made. The recoverable amount for most
assets is measured at the higher of depreciated replacement cost and fair value less costs to sell. Recoverable
amount for assets held primarily to generate net cash inflows is measured at the higher of the present value less
costs to sell.

Page 16 of 56

(k) Liabilities
Payables
These amounts consist predominantly of liabilities for goods and services. Payables are initially recognised at fair
value, and then subsequently carried at amortised cost and represent liabilities for goods and services provided to
the organisation prior to the end of the financial year that are unpaid, and arise when the organisation becomes
obliged to make future payments in respect of the purchase of these goods and services. The normal credit terms
are usually Net 30 days.
Provisions
Provisions are recognised when Tweddle Child and Family Health Service have a present obligation, the future
sacrifice of economic benefits is probable, and the amount of the provision can be measured reliably.
The amount recognised as a provision is the best estimate of the consideration required to settle the present
obligation at reporting date, taking into account the risks and uncertainties surrounding the obligation. Where a
provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the
present value of those cash flows.
Employee Benefits
Wages and Salaries, Annual Leave, Sick Leave and Accrued Days Off
Liabilities for wages and salaries, including non‐monetary benefits, annual leave, accumulating sick leave and
accrued days off expected to be settled within 12 months of the reporting date are recognised in the provision for
employee benefits in respect of employee’s services up to the reporting date, classified as current liabilities and
measured at nominal values.
Those liabilities that Tweddle does not expect to settle within 12 months are recognised in the provision for
employee benefits as current liabilities, measured at present value of the amounts expected to be paid when the
liabilities are settled using the remuneration rate expected to apply at the time of settlement.
Long Service Leave
Under the revised AASB 119, employee benefits that are not expected to be wholly settled within 12 months are
measured at present value while employee benefits that are expected to be wholly settled within 12 months, are
measured at nominal value.
Non Current Liability‐conditional LSL (representing less than 10 years of continuous service) is disclosed as a non‐
current liability. There is an unconditional right to defer the settlement until 10 years of service has been
completed by an employee. Conditional LSL is required to be measured at present value.
Consideration is given to expect future wage and salary levels, experience of employee departures and periods of
service. Expected future payments are discounted using interest rates of national Government guaranteed
securities in Australia.

Page 17 of 56

Superannuation
Defined contribution plans
Contributions to defined contribution superannuation plans are expenses when incurred.
Defined benefit plans
The amount charged to the Operating Statement in respect of defined benefit superannuation plans represents
the contributions made by Tweddle Child and Family Health Service to the superannuation plan in respect of the
services of current Tweddle Child and Family Health Service staff. Superannuation contributions are made to the
plans based on the relevant rules of each plan.
Employees of Tweddle Child and Family Health Service are entitled to receive superannuation benefits and
Tweddle Child and Family Health Service contributes to both the defined benefit and defined contribution plans.
The defined benefit plan(s) provide benefits based on years of service and final average salary.
Tweddle Child and Family Health Service made contributions to the following major superannuation plans during
the year:
Defined Benefit Plans 2014 2013
Health Super Pty Ltd 5,582 11,509
Defined contribution plans
Health Super Pty Ltd 115,985 130,696
Vision Super Pty Ltd 10,567 11,826
Trust Australia (HESTA) 75,974 59.726
T & L Kelly Super Fund 4,694 4,486
Australian Super 16,550 17,928
Other Super 61,091 47,306
Tweddle Child and Family Health Service does not recognise any unfunded defined benefit liability in respect of the
superannuation plans because Tweddle Child and Family Health Service has no legal or constructive obligation to
pay future benefits relating to its employees; its only obligation is to pay superannuation contributions as they fall
due. The Department of Treasury and Finance administers and discloses the State’s defined benefit liabilities in its
financial report.
Termination Benefits
Liabilities for termination benefits are recognised when a detailed plan for the termination has been developed
and a valid expectation has been raised with those employees affected that the terminations will be carried out.
The liabilities for termination benefits are recognised in other creditors unless the amount or timing of the
payments is uncertain, in which case they are recognised as a provision.
On Costs
Page 18 of 56

Employee benefits on costs (workers compensation, superannuation annual leave and LSL accrued while on LSL
taken in service) are recognised separately from provision for employee benefits.
(l) Leases
A lease is a right to use an asset for an agreed period of time in exchange for payment.
Leases are classified at their inception as either operating or finance leases based on the economic substance of
the agreement so as to reflect the risks and rewards incidental to ownership. We have only operating leases.
Operating leases
Rental income from operating lease is recognised on a straight‐line basis over the term of the relevant lease.
All incentives for the agreement of a new or renewed operating lease are recognised as an integral part of the net
consideration agreed for the use of the leased asset, irrespective of the incentive’s nature or form or the timing  of
payments. In the event that lease incentives are given to the lessee, the aggregate cost of incentives are
recognised as a reduction of rental income over the lease term, on a straight‐line basis unless another systematic
basis is more appropriate of the time pattern over which the economic benefit of the leased asset is diminished.
Operating lease payments, including any contingent   rentals, are recognised as an expense in the comprehensive
operating statement on a straight line basis over the lease term, except where another systematic basis is more
representative of the time pattern of the benefits derived from the use of the leased asset. The leased asset is not
recognised in the balance sheet.
(m)   Equity
Contributed Capital
Consistent with Australian Accounting Interpretation 1038 Contributions by Owners Made to Wholly‐Owned Public
Sector Entities and FRD 119 Contributions by Owners, appropriations for additions to the net asset base have been
designated as contributed capital. Other transfers that are in the nature of contributions or distributions that have
been designated as contributed capital are also treated as contributed capital.
Property, Plant and Equipment Revaluation Reserve
The asset revaluation reserve is used to record increments and decrements on the revaluation of non‐current
assets.
Financial Asset Available‐for‐Sale Revaluation Reserve
The available for‐sale revaluation reserve arises on the revaluation of available‐for‐sale financial assets. Where a
re‐valued financial asset is sold, that portion of the reserve which relates to that financial asset is effectively
realised, and is recognised in the operating statement. Where a revalued financial asset is impaired that portion of
the reserve which relates to that financial asset is recognised in the operating statement.
Specific Restricted Purpose Reserve
Page 19 of 56

A specific restricted purpose reserve is established where Tweddle Child and Family Health Service has possession
or title to the funds but has no discretion to amend or vary the restriction and/or condition underlying the funds
received.
(n) Commitments
Commitments for future expenditure include operating and capital commitments arising from contracts. These
commitments are disclosed by way of a note (refer to Note 18 Commitments for expenditure) at their nominal
value and inclusive of the GST payable. In addition, where it is considered appropriate and provides additional
relevant information to users, the net present values of significant individual projects are stated. These future
expenditures cease to be disclosed as commitments once the related liabilities are recognised in the balance sheet.
(o) Contingent assets and contingent liabilities
Contingent assets and contingent liabilities are not recognised in the balance sheet, but are disclosed by way of a
note (refer to Note 22 Contingent assets and contingent liabilities) and, if quantifiable, are measured at nominal
value. Contingent assets and liabilities are presented inclusive of GST receivable or payable respectively.
(p) Services Supported By Health Services Agreement and Services Supported By Hospital and
Community Initiatives
Activities classified as Services Supported by Health Services Agreement (HSA) are substantially funded by the
Department of Human Services, while Services Supported by Hospital  and Community Initiatives (Non HSA) are
funded by Tweddle Child and Family  Health Service’s own activities or local initiatives and/or the Commonwealth.
(q) Goods and Services Tax
Income, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not
recoverable from the taxation authority. In this case it is recognised as part of the cost of acquisition of the asset or
as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable.
The net amount of GST recoverable from, or payable to, the taxation authority is included with other receivables
or payables in the balance sheet.
Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing
activities which are recoverable from, or payable to the taxation authority, are presented as operating cash flow.
(r) Category Groups
Other Services excluded from Australian Health Care Agreement (AHCA) (Other) comprises revenue/expenditure
for services not separately classified above, including: Public Health Services including Laboratory testing, Blood
Borne Viruses / Sexually Transmitted Infections clinical services, Kooris liaison officers, immunisation and screening
services, Drugs services including drug withdrawal, counselling and the needle and syringe program, Dental Health
services including general and specialist dental care, school dental services and clinical education, Disability
services including aids and equipment and flexible support packages to people with a disability, Community Care
Page 20 of 56

programs including sexual assault support, early parenting services, parenting assessment and skills development,
and various support services. Health and Community Initiatives also falls in this category group.
(s) Comparative Information
Where necessary, the previous year’s figures have been reclassified to facilitate comparisons.
Page 21 of 56

Note 2: Revenue
HSA HSA H&CI H&CI TOTAL TOTAL
2014 2013 2014 2013 2014 2013
$ $ $ $ $ $
Revenue from Operating Activities
Government Grants
- Department of Human Services : Acute Care Program 3,482,304 3,413,788 3,482,304 3,413,788
- Department of Human Services : Protective Services 390,825 384,089 147,375 119,376 538,200 503,465
Day Stay Programs 50,176 42,945 50,176 42,945
My Time Program 63,674 61,871 63,674 61,871
Prison Program 9,890 8,548 9,890 8,548
Psychology Services 23,978 31,759 23,978 31,759
Play Steps 12,185 12,185
Tweddle at Home - - - -
Breast Feeding Program - 18,413 18,413
Total Government Grants 3,873,129 3,797,877 307,278 282,912 4,180,406 4,080,789
Indirect Contributions by Department of Human Services 4,312 15,494 4,312 15,494
Total Indirect Contributions by Department of Human Services 4,312 15,494 4,312 15,494
Specific Purpose Programs
Other Revenue from Operating Activities 96,218 224,138 96,218 224,138
Total Commercial Activities & Specific Purpose Funds 96,218 224,138 96,218 224,138
Donations and Bequests 85,220 41,244 85,220 41,244
Total Revenue from Operating Activities 3,873,129 3,797,877 493,028 563,788 4,366,156 4,361,665
Revenue from Non-Operating Activities
Interest 2,437 5,684 2,437 5,684
Other Revenue from Non-Operating Activities 6,103 6,103
Sub-Total Revenue from Non-Operating Activities 2,437 11,787 2,437 11,787
Revenue from Capital Purpose Income
Net Gain/(Loss) on Disposal of Other Financial Assets 565 3,552 565 3,552
Capital Interest 72,137 72,137
Capital Dividends 244,760 153,045 244,760 153,045
Property Income 9,702 9,000 9,702 9,000
State Government Capital Grant
Sub-Total Revenue from Capital Purpose Income 255,027 237,734 255,027 237,734
Total Revenue from Continuing Operations (refer to note 2a) 3,873,129 3,797,877 750,492 813,309 4,623,620 4,611,186
Indirect contributions by Department of Human Services :
Department of Human Services makes payments for Insurance and Long Service Leave on behalf of Tweddle Child and Family Health Service. These amounts
have been brought to account in determining the operating result for the year by recording them as revenue and expenses.
Page 22 of 56

Note 2a: Analysis of Revenue by Source
Acute Protective Day Stay My Time Prison Psychology Other TOTAL TOTAL
Health Services Programs Program Program Services
2014 2014 2014 2014 2014 2014 2014 2014 2013
$ $ $ $ $ $ $ $ $
Revenue from Services Supported by Health Services Agreement
Government Grants
- Department of Human Services : Acute Care Program 3,482,304 - - - - - - 3,482,304 3,413,788
- Department of Human Services : Protective Services - 390,825 - - - - - 390,825 384,089
- Insurance 4,312 - - - - - - 4,312 15,494
Sub-Total Revenue from Services Supported by Health Services Agreement 3,486,615 390,825 - - - - - 3,877,440 3,813,371
Revenue from Services Supported by Hospital and Community Initiatives
Operating Services :
Protective Services : DHS Other Regions - 147,375 - - - - - 147,375 119,376
Day Stay Programs - - 50,176 - - - - 50,176 42,945
My Time Program - - - 63,674 - - - 63,674 61,871
Prison Program - - - - 9,890 - - 9,890 8,548
Breast Feeding Program - - - - - - - 18,413
Psychology Services - - - - - 23,978 - 23,978 31,759
Other - - - - - - 107,838 107,838 224,138
- 147,375 50,176 63,674 9,890 23,978 107,838 402,931 507,049
Other Activities :
Property Income - - - - - - 9,702 9,702 9,000
Net Gain/(Loss) from Disposal of Other Financial Assets - - - - - - 565 565 3,552
Donations & Bequests - - - - - - 85,785 85,785 41,244
Interest - - - - - - 2,437 2,437 77,821
Dividends & Dividend Imputation Credits - - - - - - 244,760 244,760 153,045
Other - - - - - - 6,103
- - - - - - 343,249 343,249 290,765
Sub-Total Revenue from Services Supported by Hospital and Community Initiatives - 147,375 50,176 63,674 9,890 23,978 451,087 746,180 797,814
Total Revenue from Operations 3,486,615 538,200 50,176 63,674 9,890 23,978 451,087 4,623,620 4,611,186
Indirect contributions by Department of Human Services:
Department of Human Services makes payments for Insurance and Long Service Leave on behalf of Tweddle Child and Family Health Service. These amounts have been
brought to account in determining the operating result for the year by recording them as revenue and expenses.
Page 23 of 56

Note 2b ‐ Net Gain/(Loss) from Disposal of Other Financial Assets 2014 2013
$ $
Proceeds from Disposals of Non‐Current
Plant & Equipment ‐ Other Equipment 3552
Plant & Equipment ‐ Furniture & Fittings   565
Total Proceeds from Disposal of Non‐Current Assets 565 3552
Less: Written Down Value of Non Current Assets Sold
Plant & Equipment ‐ Other Equipment ‐
Plant & Equipment ‐ Furniture & Fittings   ‐
Total Written Down Value of Non Current Assets Sold   ‐ ‐
Net gain/(loss) on Disposal of Non‐Financial Assets 565 3552
-
-
-
Page 24 of 56

Note 3: Expenses
HSA HSA H&CI H&CI TOTAL TOTAL
2014 2013 2014 2013 2014 2013
$ $ $ $ $ $
Employee Benefits
Salaries & Wages 2,885,308 2,880,409 319,857 248,489 3,205,165 3,128,898
WorkCover 58,831 36,751 4,050 2,156 62,881 38,907
Long Service Leave 55,759 (20,531) 8,001 6,097 63,760 (14,434)
Superannuation 263,791 264,324 26,652 24,346 290,443 288,670
  Total Employee Benefits 3,263,689 3,160,953 358,560 281,088 3,622,249 3,442,041
Non Salary Labour Costs
Agency Costs ‐ Nursing 25,651 4,399 ‐   ‐   25,651 4,399
Agency Costs ‐ Administration 26,705 ‐   ‐   26,705
  Total Non Salary Labour Costs 25,651 31,104 25,651 31,104
‐ ‐
Supplies & Consumables
Food Supplies 89,142 78,832 ‐   ‐   89,142 78,832
  Total Supplies & Consumables 89,142 78,832 89,142 78,832
‐ ‐
Other Expenses
Fuel, Light, Power and Water 40,288 49,338 ‐   ‐   40,288 49,338
Insurance costs funded by DHS 4,312 15,494 ‐   ‐   4,312 15,494
Motor Vehicle Expenses 13,124 6,797 ‐   ‐   13,124 6,797
Repairs & Maintenance 74,041 31,927 ‐   ‐   74,041 31,927
Building, Safety & Infrastructure 87,894 60,010 ‐   ‐   87,894 60,010
Human Resources 30,774 75,815 3,364 ‐   34,138 75,815
Information Technology 45,150 73,200 ‐   ‐   45,150 73,200
Telephone, Stationery & Postage 83,248 71,170 23   ‐   83,271 71,170
Linen Cleaning Service 19,187 19,888 ‐   ‐   19,187 19,888
Training 34,792 56,519 ‐   ‐   34,792 56,519
Fringe Benefits Tax 8,139 9,755 ‐   ‐   8,139 9,755
   Audit Fees ‐ Auditor General (refer note 21) 5,242 8,508 ‐   ‐   5,242 8,508
Annual Report 20,631 26,520 ‐   ‐   20,631 26,520
Other Administrative Expenses 115,048 238,649 71,131 51,291 186,179 289,940
  Total Other Expenses 581,870 743,590 74,518 51,291 656,388 794,881
Expenditure using Capital Purposes Income
Other 43,212 41,871 43,212 41,871
Total Expenditure using Capital Purposes Income 43,212 41,871 43,212 41,871
Impairment of Financial Assets
Depreciation & Amortisation(refer note 4) ‐   ‐   186,779 162,609 186,779 162,609
Impairment loss building revaluation ‐ ‐ 104,890 ‐ 104,890 ‐
Total Impairment of Financial Assets ‐   ‐   ‐   ‐   ‐   ‐
‐   ‐   291,669                  162,609                  291,669                  162,609
Total Expenses 3,960,352             4,014,479             767,959                 536,859                4,728,311             4,551,338
Page 25 of 56

Note 3a: Analysis of Expenditure by Source
Acute Protective Day Stay My Time Prison Psychology Other TOTAL TOTAL
Health Services Programs Program Program Services
2014 2014 2014 2014 2014 2014 2014 2014 2013
$ $ $ $ $ $ $ $ $
Expenditure from Services Supported by Health Services Agreement
Employee Expenses 2,529,647 415,106 147,634 170,092 3,262,479 3,160,953
Non Salary Labour Costs 25,651 ‐ ‐ ‐ ‐ ‐ ‐ 25,651 31,104
Supplies & Consumables 485,560 99,417                19,199                  ‐ ‐ 5,919 ‐ 610,095 845,477
Sub‐Total Expenditure from Services Supported by Health Services Agreement
3,040,858                 514,523             166,833                ‐ ‐ 176,011                 ‐ 3,898,225 4,037,534
Expenditure from Services Supported by Hospital and Community Initiatives
Employee Expenses 82,606 30,434 70,712 19,138 14,922 73,829 291,641 258,032
Non Salary Labour Costs
Supplies & Consumables ‐   30,347 473 5,513                4,959             538 54,588 96,418 51,291
Sub‐Total Expenditure from Services Supported by Hospital and Community Initiatives ‐ 112,953             30,907                  76,225              24,097           15,460 128,417                  388,059 309,323
‐
Expenditure using Capital Purposes Income
Other Expenses from Continuing Operations 107,146 ‐ ‐ ‐ ‐ ‐ 43,212 150,358 41,871
Sub‐Total Expenditure using Capital Purposes Income 107,146 ‐ ‐ ‐ ‐ ‐ 43,212 150,358 41,871
‐   ‐ ‐ ‐ ‐ ‐
Other Expenditure ‐   ‐ ‐ ‐ ‐ ‐
Impairment of Non‐Financial Assets ‐   ‐ ‐ ‐ ‐ ‐ 104,890 104,890
Depreciation & Amortisation 186,779 ‐ ‐ ‐ ‐ ‐ 186,779 162,609
Specific Expenses ‐   ‐ ‐ ‐ ‐ ‐
Finance Costs ‐   ‐ ‐ ‐ ‐ ‐
Total Other Expenditure 186,779 ‐ ‐ ‐ ‐ ‐ 104,890                  291,669 162,609
Total Expenditure 3,334,783                 627,476             197,740                76,225              24,097           191,471                 276,519                  4,728,311                 4,551,337
Page 26 of 56

Note 4a: Depreciation
2014 2013
$ $
Buildings 51,175 48,198
Motor Vehicles 16,222 14,585
Computers and Communications 15,522 20,659
Other Plant & Equipment 20,985 20,930
Furniture and Fittings 3,725 4,916
Total Depreciation 107,629 109,288
Note 4b: Amortisation
Computer Software 79,150 53,321
Total Amortisation 79,150 53,321
Total Depreciation and Amortisation
186,779 162,609
Note 5: Cash and Cash Equivalents
For the purposes of the Cash Flow Statement, cash and cash equivalents includes cash on hand and in banks, and short-term
deposits which are readily convertible to cash on hand, and are subject to an insignificant risk of change in value, net of
outstanding bank overdrafts.
2014 2013
$ $
Cash On Hand 429 370
Cash at Bank 8,686 185,277
TOTAL 9,115 185,647
Represented by:
Cash for Tweddle Child and Family Health Service Operations 9,115 185,647
Cash for Monies Held in Trust - -
TOTAL 9,115 185,647
Cash for monies held in Trust is deposited in an 'At-Call' account and there is no risk of a change in value for this amount.
Page 27 of 56

Note 6: Receivables
2014 2013
$ $
CURRENT
Contractual
Trade Debtors 64,615 31,183
Accrued Revenue - Other 34,296 35,225
98,911 66,408
Statutory
GST - Receivable 7,474 7,220
TOTAL CURRENT RECEIVABLES 106,385 73,628
TOTAL RECEIVABLES 106,385 73,628
(a) Ageing analysis of receivables
Please refer to note 15(b) for the ageing analysis of receivables
(b) Nature and extent of risk arising from receivables
Please refer to note 15(b) for the nature and extent of credit risk arising from receivables
Note 7: Other Financial Assets
Capital Fund TOTAL TOTAL
2014 2013 2014 2013
$ $ $ $
TOTAL 4,061,761 3,554,179 4,061,761 3,554,179
Represented by:
Tweddle Child and Family Health
Service Investments 4,061,761 3,554,179 4,061,761 3,554,179
TOTAL 4,061,761 3,554,179 4,061,761 3,554,179
(a) Ageing analysis of other financial assets
Please refer to note 15(b) for the ageing analysis of other financial assets
(b) Nature and extent of risk arising from other financial assets
Please refer to note 15(b) for the nature and extent of credit risk arising from other financial assets
Page 28 of 56

Note 8 : Other Current Assets
2014 2013
$ $
CURRENT
Prepayments 10,000 -
TOTAL OTHER CURRENT ASSETS 10,000 -
Page 29 of 56

Note 9: Property, Plant & Equipment
2014 2013
$ $
Land
Crown Land 3,559,000 2,225,000
Freehold Land 1,020,000 720,000
Total Land at Fair Value 4,579,000 2,945,000
Buildings & Improvements
Buildings & Improvements at Fair Value 1,487,000 1,979,307
Less Accumulated Depreciation (181,491)
Total Buildings at Fair Value 1,487,000 1,797,816
Plant and Equipment
Motor Vehicles
Less Accumulated Depreciation (50,789) (33,763)
Total Motor Vehicles at Fair Value 23,277 40,303
Computers and Communication
Computers and Communication 250,478 229,465
Total Computers and Communication
at Fair Value 27,149 21,661
Other Equipment
Other Equipment 341,447 298,176
Total Other Equipment at Fair Value 129,336 107,050
Total Plant and Equipment 179,762 169,015
Furniture and Fittings
Total Furniture and Fittings at Fair Value 25,294 22,380
TOTAL 6,271,056 4,934,211
-
Page 30 of 56

Note 9 Property, Plant & Equipment (Continued)
Reconciliations of the carrying amounts of each class of asset at the beginning and end of the previous and current financial year is set out below.
Plant and Equipment
Land Buildings Motor Computers & Other Furniture & Total
Vehicles Communications Equipment Fittings
$ $ $ $ $ $ $
Balance at 30 June 2012 2,945,000 1,757,216 32,798 23,280 119,727 27,296 4,905,317
Additions 88,798 38,534 19,040 8,254 154,626
Disposals (16,444) (16,444)
Revaluation increments
Depreciation (note 4a) (48,198) (14,585) (20,659) (20,930) (4,916) (109,288)
Balance at 30 June 2013 2,945,000 1,797,816 40,303 21,661 107,050 22,380 4,934,211
Additions 29,254 21,010 43,271 6,639 100,174
Disposals (804) (805)
Revaluation increments 1,634,000 (288,895) 1,345,105
Depreciation (note 4a) (51,175) (16,222) (15,522) (20,985) (3,725) (107,629)
Balance at 30 June 2014 4,579,000 1,487,000 23,277 27,149 129,336 25,294 6,271,056
Page 31 of 56

Note
(i) Classified in accordance with the fair value hierarchy, see Note 1
There have been no transfers between levels during the period.
Non‐specialised land and non‐specialised buildings
Non‐specialised land and non‐specialised buildings are valued using the market approach. Under this valuation method, the
assets are compared to recent comparable sales or sales of comparable assets which are considered to have nominal or no
added improvement value.
For non‐specialised land and non‐specialised buildings, an independent valuation was performed by independent valuers
Opteon to determine the fair value using the market approach. Valuation of the assets was determined by analysing
comparable sales and allowing for share, size, topography, location and other relevant factors specific to the asset being
valued. An appropriate rate per square metre has been applied to the subject asset. The effective date of the valuation is 30
June 2014.
To the extent that non‐specialised land and non‐specialised buildings do not contain significant, unobservable adjustments,
these assets are classified as Level 2 under the market approach.
Specialised land and specialised buildings
The market approach is also used for specialised land and specialised buildings although is adjusted for the community
service obligation (CSO) to reflect the specialised nature of the assets being valued. Specialised assets contain significant,
unobservable adjustments; therefore these assets are classified as Level 3 under the market based direct comparison
approach.
The CSO adjustment is a reflection of the valuer’s assessment of the impact of restrictions associated with an asset to the
extent that is also equally applicable to market participants. This approach is in light of the highest and best use
consideration required for fair value measurement, and takes into account the use of the asset that is physically possible,
legally permissible and financially feasible. As adjustments of CSO are considered as significant unobservable inputs,
specialised land would be classified as Level 3 assets.
For the health services, the depreciated replacement cost method is used for the majority of specialised buildings, adjusting
Fair Value Measurement Hierarchy of Assets as at 30 June 2014
Carrying amount as
at 30 June 2014
Fair Value Measurement at the end of the
reporting period using:
Level
1(1) Level 2(1) Level 3(1)
Land
       Crown Land at Fair Value      3,559,000          3,559,000
       Freehold Land at Fair Value      1,020,000          1,020,000
Total Land at Fair Value 4,579,000          4,579,000
Buildings at Fair Value
       Buildings at Fair Value      1,487,000    1,487,000
Total Buildings at Fair Value 1,487,000    1,487,000
Plant and Equipment
Computers and Communication           27,150 27,150
Other equipment         129,336 129,336
Total Plant & Equipment at Fair
Value         205,057 205,057
Carrying amount as at 30 June 2014      6,271,057          4,579,000 1,692,057
Page 32 of 56

for the associated depreciation. As depreciation adjustments are considered as significant and unobservable inputs in
nature, specialised buildings are classified as Level 3 for fair value measurements.
An independent valuation of the Hospital’s specialised land and specialised buildings was performed by the Valuer‐General
Victoria. The valuation was performed using the market approach adjusted for CSO. The effective date of the valuation is 30
June.
Vehicles
The Health Service acquires new vehicles and at times disposes of them before completion of their economic life. The
process of acquisition, use and disposal in the market is managed by the Health Service who set relevant depreciation rates
during use to reflect the consumption of the vehicles.
As a result, the fair value of vehicles does not differ materially from the carrying value
(Depreciated cost).
Plant and equipment
Plant and equipment is held at carrying value (depreciated cost). When plant and equipment is specialised in use, such that
it is rarely sold other than as part of a going concern, the depreciated replacement cost is used to estimate the fair value.
Unless there is market evidence that current replacement costs are significantly different from the original acquisition cost,
it is considered unlikely that depreciated replacement cost will be materially different from the existing carrying value.
There were no changes in valuation techniques throughout the period to 30 June 2014.
For all assets measured at fair value, the current use is considered the highest and best use.
Page 33 of 56

Reconciliation of Level 3 fair value
2014 Buildings Plant & Equipment
Opening Balance 1,797,816 191,395
Purchases (sales) 29,254 70,920
Transfers in (out) of Level 3 (805)
Gains or losses recognised in net result
Depreciation (51,175) (56,454)
Impairment loss
Subtotal 1,775,895 205,056
Items recognised in other comprehensive income (288,895)
Subtotal (288,895) ‐
Closing Balance
Unrealised gains/(losses) on non financial assets
1,487,000 205,056
Note
(i) Classified in accordance with the fair value hierarchy, see Note 1
There have been no transfers between levels during the period.
(i)
Page 34 of 56

Description of significant unobservable inputs to Level 3 valuations:
Specialised Land Valuation technique Significant unobservable inputs Range (weighted
average)
Sensitivity of
fair value
measurement to
changes in
significant
unobservable
inputs
25 Thwaites Close, Highton
Market/Direct Comparison
approach
Sales evidence- Unit of value by comparative basis ($
per m2) 0%
72 Sydney Street, Footscray 3011
approach
per m2) 0%
approach
per m2) 0%
approach
per m2) 0%
49-73 Adelaide Street, Footscray 3011
approach
per m2) 0
Specialised Buildings
49-73 Adelaide Street, Footscray 3011
approach
per m2) 0%
49-73 Adelaide Street, Footscray 3012 Cost Approach or DRC
Building Costs, Cost approach using best available
evidence from recognised building cost indicators and
or Quantity Surveyors and examples of current costs 0%
25 Thwaites Close, Highton
approach
per m2) 0%
26 Thwaites Close, Highton Cost Approach or DRC
approach
per m2) 0%
74 Sydney Street, Footscray 3011 Cost Approach or DRC
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Page 35 of 56

Plant and equipment
at fair value
Valuation
technique
Significant unobservable inputs Range (weighted
average)
Sensitivity of fair value measurement to changes in
significant unobservable inputs
Motor Vehicles
Depreciated
replacement cost Useful life of Motor Vehicles 3‐5 years (4 years)
Increase (decrease) in useful life would result in a significantly higher
(lower) fair value
Motor Vehicles Cost Per Unit   10,000‐30,000
Increase (decrease) in gross replacement cost would result in a
significantly higher (lower) fair value
Computers and
Communication
Depreciated
replacement cost
Useful life of Computers and
Communication hardware 3‐5 years (4 years)
(lower) fair value
Computers and
Communication Cost Per Unit   1,000‐15,000
Other equipment
Depreciated
replacement cost Useful life of Other Equipment 10‐15 years (12 years)
(lower) fair value
Other equipment Cost Per Unit   1,000‐4,000
Furniture and Fittings
Depreciated
replacement cost Useful life of Furniture and Fittings 10‐15 years (12 years)
(lower) fair value
Furniture and Fittings Cost Per Unit   1,000‐4,000
(i) CSO adjustments of 0% were applied to reduce the market approach value for the
Department’s specialised land.
Page 36 of 56

Note 10: Intangible Assets
2014 2013
$ $
Intangible Assets
Computer Software
       Computer Software at Cost 373,060 335,490
     Less Accumulated Amortisation (247,359) (168,209)
Total Intangible Assets 125,701 167,282
Reconciliations of the carrying amounts of each class of asset at the beginning
and end of the previous and current financial year is set out below.
Computer
Software
$
Balance at 30 June 2012 201,483
Additions‐WIP 19,120
Amortisation (note 4b) (53,321)
Additions‐WIP 37,569
Amortisation (note 4b) (79,150)
Page 37 of 56

Note 11: Payables
2014 2013
$ $
CURRENT
82,860 88,223
Contractual
Trade Creditors
Other Payables 84,086 434
166,946 88,657
Statutory
GST Payable 6,620 4,113
PAYG Tax Payable 43,674 44,248
50,294 48,361
TOTAL 217,240 137,018
(a) Maturity analysis of payables
Please refer to note 15(c) for the ageing analysis of payables
(b) Nature and extent of risk arising from payables
Please refer to note 15(c) for the nature and extent of risks arising from payables
Page 38 of 56

Note 12: Employee Benefits 2014 2013
$ $
Current Provisions
Employee Benefits
Annual Leave
- Unconditional and expected to be settled within 12 months (ii) 186,796 241,511
- Unconditional and expected to be settled after 12 months (ii)
Long service leave
29,585 73,832- Unconditional and expected to be settled within 12 months (ii), (iv)
-Unconditional and expected to be settled after 12 months (ii) (ii) 122,422
Provisions related to Employee Benefit On-Costs
174,889 153,642- Unconditional and expected to be settled within 12 months (ii)
Total Current Provisions 513,692 468,985
Non Current Provisions
143,842 172,273Employee Benefits
Total Non-Current Provisions 143,842 172,273
(a) Employee Benefits and Related On-Costs
246,019 241,511
115,666 153,642
Current Employee Benefits and related on-costs Annual Leave
Entitlements (i)
Accrued Wages and Salaries
Unconditional Long Service Leave Entitlement (iv) 152,007 73,832
Non-Current Employee Benefits and related on-costs
Conditional Long Service Leave Entitlements 143,842 172,273
Total Employee Benefits and Related On-Costs 657,534 641,258
(i) Employee benefits consist of annual leave and long service leave accrued by employees.
On-costs such as payroll tax and worker's compensation insurance are
(ii) The amounts disclosed are at present values
(iii) Employee benefits and are reflected as a separate provision.
(iv) Comparatives for provision of annual leave have been adjusted in response to the changed definition of
short-term employee benefits under AASB 119
-
Page 39 of 56

Note 13: Equity & Reserves
2014 2013
$ $
2,853,422 2,853,422
(a)  Reserves
Asset Revaluation Reserve Balance at
the beginning of the year Revaluation
Increments/ Decrements
‐ Land 1,634,000             ‐
‐ Buildings (184,005) ‐
Balance at the end of the year * 4,303,417 2,853,422
* Represented by:
‐ Land 4,303,417 2,669,417
‐ Buildings ‐   184,005
4,303,417 2,853,422
Balance at the beginning of the year 576,154 285,176
Transfer to Operating Statement on Sale of Other Financial Assets ‐   (68,924)
Transfer to Operating Statement due to Recognition of Impairment of
Financial Assets ‐   ‐
Changes in Market Value 227,269 359,902
Balance at the end of the year 803,423 576,154
Restricted Specific Purpose Reserve
Total Reserves 5,523,314 3,846,050
(b)  Contributed Capital
Balance at the beginning of the year 3,587,206 3,587,206
Balance at the end of the year 3,587,206 3,587,206
(c)  Accumulated Surpluses
Net Result for the Year (104,691) 59,848
Total Equity at end of financial year 9,709,244 8,136,672
Financial Assets Available‐for‐Sale Revaluation Reserve
Page 40 of 56

Note 14: Reconciliation of Net Result for the Year to Net Cash Inflow/(Outflow) from
Operating Activities
2014 2013
$ $
Net Result for the Year
(104,691) 59,848
Depreciation & Amortisation 186,779 162,609
Impairment Loss Building Renovation 104,890
Net (Gain)/Loss from Sale of Investments (179,501) (3,552)
Change in Operating Assets & Liabilities :
Increase/(Decrease) in Payables 195,888 (20,917)
Increase/(Decrease) in Provisions (99,390) (310,449)
Increase/(Decrease) in Other Liabilities - (79,955)
(Increase)/Decrease in Receivables (32,757) 68,211
(Increase)/Decrease in Inventories - 29,690
(Increase)/Decrease in Prepayments (10,000) 2,110
NET CASH INFLOW / (OUTFLOW) FROM OPERATING ACTIVITIES 61,218 (12,450)
Page 41 of 56

Note 15: Financial Instruments
(a) Financial risk management objectives and policies
Tweddle's principal financial instruments comprise of:
(1) cash assets
(2) term deposits
(3) receivables excluding statutory receivables
(4) investment in equities and managed investment schemes
(5) payables excluding statutory payables
Details of the significant accounting policies and methods adopted, including the criteria for recognition,
the basis of measurement and the basis on which income and expense are recognised, with respect to
each class of financial asset, financial liability and equity instrument are disclosed in note 1 to the
financial statements.
Tweddle's main financial risks include credit risk, liquidity risk, interest rate risk, and equity price risk.
Tweddle manages these financial risks in accordance with its financial risk management policy. Tweddle
uses different methods to measure and manage the risks. Primary responsibility rests with the Finance
Audit & Risk Committee. Tweddle has minimal exposure to cash flow interest rate risks through its cash
and deposits, term deposits and bank overdrafts that are at floating rate.
Page 42 of 56

contractual financial assets/liabilities
held for trading at fair value through
profit/loss
contractual financial assets
loans receivables
contractual financial
assets available for sale
contractual financial
liabilities at amortised
cost Total
$ $ $ $ $
9,115 9,115
64,615 64,615
34,296 34,296
4,061,761 4,061,761
2014
Contractual Financial Assets
Cash and cash equivalents
‐ Trade Debtors
‐ Other Receivables
‐ Managed Investment Portfolio
Total Financial Assets (i) 4,061,761 108,026 ‐    ‐    4,169,787
166,946 166,946
Financial Liabilities
Payables
Total Financial Liabilities (ii)      ‐ ‐ ‐   166,946 166,946
$ $ $ $ $
185,647 185,647
‐
31,183 31,183
35,225 35,225
3,554,178 3,554,178
2013
Contractual Financial Assets
Cash and cash equivalents
Receivables
‐ Trade Debtors
‐ Other Receivables
‐ Managed Investment Portfolio
Total Financial Assets (i) 3,554,178 252,055 ‐ ‐ 3,806,233
88,657 88,657
‐        88,657 88,657
Payables
Total Financial Liabilities (ii) ‐ ‐
(i) The total amount of financial assets disclosed here excludes statutory receivables
(ii) The total amount of financial liabilities disclosed here excludes statutory payables (i.e. Taxes payable)
Categorisation of financial instruments
Details of each categories in accordance with AASB 139, shall be disclosed either on the face of
the balance sheet or in the notes.
Page 43 of 56

Net Holding Gain/(Loss) on financial instruments by category
Net holding
gain/ (loss)
Total interest
income/ (expense)
Fee Income
/ (expense)
Impairment
loss
Total
$ $ $ $ $
- 2,437 - - 2,437
-
-
2014
Financial Assets
Cash & Cash Equivalents
Designated at Fair Value
through Profit or Loss
Held for Tradining at Fair
Value through Profit & Loss
Loans and Receivables
Available for Sale (iii)
-
Receivables
507,582
- -
507,582
Total Financial Assets (i) - 510,019 - - 510,019
Value through Profit & Loss - - -
At Amortised Cost - - - -
Total Financial Liabilities (ii) - - - - -
- 11,787 - - 11,787
- -
-
-
2013
Financial Assets
Cash & Cash Equivalents
Value through Profit & Loss
Loans and Receivables
Available for Sale (iii) -
-
-
Receivables -
284,241
- -
284,241
Total Financial Assets (i) 296,028 - - 296,028
Value through Profit & Loss - - - - -
At Amortised Cost - - - - -
Total Financial Liabilities (ii) - - - -
(i) For cash and cash equivalents, loans or receivables and available-for-sale financial assets, the net gain or loss is
calculated by taking the movement in the fair value of the asset, interest revenue, plus or minus foreign exchange
gains or losses arising from revaluation of the financial assets, and minus any impairment recognised in the net
result;
(ii) For financial liabilities measured at amortised cost, the net gain or loss is calculated by taking the interest
expense, plus or minus foreign exchange gains or losses arising from the revaluation of financial liabilities measured
at amortised cost; and
(iii) For financial assets and liabilities that are held-for-trading or designated at fair value through profit or loss, the
net gain or loss is calculated by taking the movement in the fair value of the financial asset or liability
-
-
Page 44 of 56

(b) Credit risk exposures
Credit risk arises from the contractual financial assets of the health service, which comprise cash and cash equivalents, non-statutory receivables and available for sale
contractual financial assets. The health service's exposure to credit risk arises from the potential default of a counter party on their contractual obligations resulting in
financial loss to the health service. Credit risk is measured at fair value and is monitored on a regular basis.
Credit risk associated with the health services contractual financial assets is minimal because the main debtor is the Victorian Government. For debtors other than the
government, it is the health services policy to deal with entities with high credit ratings and to obtain sufficient collateral or credit enhancements where appropriate. As
with the debtors policy, Tweddle policy is only to deal with banks with high credit ratings.
Provision of impairment is recognised when there is objective evidence that Tweddle will not be able to collect a receivable.
Except as otherwise detailed in the following table, the carrying amount of contractual financial assets recorded in the financial statements net of allowances for losses
represents Tweddle's maximum exposure to credit risk without taking account of the value of any collateral obtained.
Credit quality of contractual financial assets that are neither past due or impaired
Financial
Institutions (AA-
credit rating)
Other (min BBB
Credit rating)
Total
2014
Financial Assets
Cash at Bank 8,686 429 9,115
Receivables (i) - 98,911 98,911
Other Financial Assets - 4,061,761 4,061,761
Total Financial Assets 8,686 4,161,101 4,169,787
2013
Financial Assets
Cash at Bank 185,277 - 185,277
Receivables (i) - 66,408 66,408
Other Financial Assets - 3,554,179 3,554,179
Total Financial Assets 185,277 3,620,587 3,805,864
(i) the total amount disclosed here excludes statutory amounts (e.g. amounts owing from Victorian Government and GST input tax recoverable).
Page 45 of 56

(b) credit risk continued
Ageing analysis of financial assets as at 30 June
Consolidated
Carrying Amount
$
Not past due and not impaired
$
2014
Financial Assets
Cash at Bank 9,115 9,115
Receivables 98,911 98,911
Other Financial Assets 4,061,761 4,061,761
Total Financial Assets 4,169,787 4,169,787
2013
Financial Assets
Cash at Bank 185,647 185,647
Receivables 66,408 66,408
Other Financial Assets 3,554,179 3,554,179
Total Financial Assets 3,806,234 3,806,234
The carrying amount excludes statutory financial assets and liabilities (i.e., Government receivables & GST Receivable). There are no financial assets which are
individually determined to be impaired. Currently Tweddle does not hold any collateral as security nor credit enhancements relating to any of its financial
assets. There are no financial assets that have had terms renegotiated so as to prevent them from being past due or impaired and they are stated as the
carrying amounts as indicated.
(c) Liquidity Risk
Liquidity risk is the risk that Tweddle will be unable to meet its financial obligations as and when they fall due. Tweddle exposure to liquidity risk is the carrying
amount of financial liabilities in the balance sheet. Tweddle manages its liquidity risk through monthly management report and reporting to the board sub
committee on a monthly basis who assess and manage the risks.
Page 46 of 56

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