ADAVB 2018/2019 Annual Report

A D A V B A N N U A L R E P O R T 2 0 1 8 / 1 9 | 4 7 NOTE 18: FINANCIAL RISK MANAGEMENT Financial Instruments measured at fair value The financial instruments recognised at fair value in the statement of financial position have been analysed and classified using a fair view hierarchy reflecting the significance of the inputs used in making the measurements. The fair value hierarchy consists of the following levels: (i) quoted prices in active markets for identical assets or liabilities (Level 1); (ii) inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices) (Level 2); and (iii) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (Level 3). 30 June 2019 Consolidated Entity Level 1 Level 2 Level 3 Total $ $ $ $ Financial assets Financial assets fair value through OCI 3,713,691 3,713,691 30 June 2018 Consolidated Entity Level 1 Level 2 Level 3 Total $ $ $ $ Financial assets Investments - available for sale 3,103,593 - - 3,103,593 - - Building and Improvements Buildings and improvements are carried at cost net of any accumulated depreciation and impairment losses. At the end of each reporting period, the Council and Finance Risk and Audit Committee review the independent Valuation to determine whether impairment has occurred. NOTE 19: EVENTS AFTER THE REPORTING DATE No matters or circumstances have arisen since the end of the financial year which significantly affected or may affect the operations of the consolidated entity and the parent entity. NOTE 20: CONTINGENT LIABILITIES At reporting date there are no contingent liabilities. NOTE 21: ASSOCIATION DETAILS The registered office and principal place of business of the association and its related entity is: Level 3, 10 Yarra Street South Yarra Victoria 3141 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019