Contents

• Letter of Presentation
• Chair Report
• CEO Report
• Our Company’s
  Purpose, Vision & Values
• The Board of Directors
  • + Member Directors
  • + Non-Member Directors
• Offices
• Executive Team
• Management &
  Operational Structure
• Corporate Governance
• Human Resource Management
• Our Community
  Our Service
• Overview of NTSCORP Operations
  • + Overview of Native Title &    Related Applications
  • + Facilitation & Assistance    Function
  • + Other Functions
  • + Report on Performance by    Matter

Financial Report

• Directors’ Report
  • + Information on Directors
  • + Meeting of Directors
• Auditors’ Independence Declaration
• Income Statement
• Balance Sheet
• Statement of Recognised Income & Expenditure
• Cash Flow Statement
• Notes to the Financial Statements
• Directors’ Declaration
• Independent Auditor’s Report
• Disclaimer of Opinion
• Detailed Income Statement

• Appendix
• Abbreviations

Notes to the Financial Statements.

For the year ended 30 June 2008

	2008	2007
19. Cash Flow Information	$	$
a. Reconciliation of cash
Cash at the end of the financial year as shown in the cash flow statement is reconciled to items in the balance sheet as follows:
Cash and cash equivalents	878,301	474,026
b. Reconciliation of Cash Flow from Operations with Profit after Income Tax
Surplus/(Deficit) after income tax	(156,197)	56,973
Non-cash flows:
Depreciation and amortisation	114,651	85,430
Net loss on disposal of property, plant and equipment	3,519	22,787
Finance charges	7,509	7,831
Changes in assets and liabilities:
Decrease/(increase) in trade and other receivables	28,415	(71,308)
Decrease/(increase) in other current assets	57,202	(3,454)
Increase in trade and other payables	66,916	69,102
Increase in provisions	129,964	34,958
	251,979	202,319

20. Financial Instruments

a. Financial Risk Management
The company’s financial instruments consist mainly of deposits with banks, short-term investments, accounts receivable and accounts payable.

Liquidity Risk
The company manages liquidity risk by monitoring forecast cash flows.

Credit Risk
The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets, is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the balance sheet and notes to the financial statements other than for a receivable of $292,676 against which a provision in full has been raised. The company does not have any material credit risk exposure to any single receivable or group of receivables under financial instruments entered into by the company.

b. Interest Rate Risk
The company’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on those financial assets and financial liabilities, is as follows:

	Weighted Average Effective Interest Rate		Floating Interest Rate		Fixed Interest Rate Maturing		Non Interest Bearing		Total
Financial Assets	2008 %	2007 %	2008 $	2007 $	2008 $	2007 $	2008 $	2007 $	2008 $	2007 $
Cash	6.52%	5.00%	878,301	474,026					878,301	474,026
Trade and other receivables							97,803	126,218	97,803	126,218
Total Financial Assets			878,301	474,026			97,803	126,218	976,104	600,244
Financial Liabilities
Trade and other payables							712,560	447,644	712,560	447,644
Lease liabilities	7.00%	6.50%			85,110	107,242			85,110	107,242
Total Financial Liabilities					85,110	107,242	712,560	447,644	797,670	554,886

c. Net Fair Values
The carrying amounts of cash and cash equivalents, receivables, payables and lease liabilities are recorded at the net fair value and approximates their carrying value. The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the balance sheet and in the notes to the financial statements.

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