Page 59 - SIGA Annual Report 2013

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Saskatchewan Indian Gaming Authority Inc.
Notes to the Financial Statements
year ended March 31, 2013
59
20. FINANCIAL RISK MANAGEMENT (CONTINUED)
LIQUIDITY RISK
Liquidity risk is the risk that SIGA is unable to meet its financial commitments as they become due or can only do so at excessive cost.
SIGA manages its cash resources based on financial forecasts and anticipated cash flows. The following summarizes the contractual
maturities of SIGA’s financial liabilities based on undiscounted payments:
2013
Contractual cash flows
Carrying
0 - 12
1 - 2
3 - 5
More than
Financial Liabilities
Amount
months
years
years
5 years
Total
Due to SLGA
$ 54,860,290
$ 54,860,290
$
$
$
$ 54,860,290
Accounts payable
and accrued liabilities
15,623,514
15,623,514
15,623,514
Long-term debt
58,282,720
58,623,246
58,623,246
Finance lease obligation
44,019,976
6,531,617
6,531,617
19,594,851
61,728,377
94,386,462
Interest rate swap liability
7,319,250
7,319,250
7,319,250
$ 180,105,750
$ 135,638,667
$ 6,531,617
$ 19,594,851
$ 69,047,627
$ 230,812,762
2012
Contractual cash flows
Carrying
0 - 12
1 - 2
3 - 5
More than
Financial Liabilities
Amount
months
years
years
5 years
Total
Due to SLGA
$ 60,277,788 $ 60,277,788
$
$
$
$ 60,277,788
Accounts payable
and accrued liabilities
18,166,200
18,166,200
18,166,200
Long-term debt
63,283,923
9,242,465
62,625,731
15,104,794
86,972,990
Finance lease obligation
45,063,029
6,531,617
6,531,617
19,594,851
68,259,995
100,918,080
Interest rate swap liability
7,636,994
7,636,994
7,636,994
$ 194,427,934
$ 94,218,070
$ 69,157,348
$ 34,699,645
$ 75,896,989
$ 273,972,052
Management believes its ability to generate funds will be adequate to support these financial liabilities.
CLASSIFICATION AND FAIR VALUE OF FINANCIAL INSTRUMENTS
March 31,
March 31,
Classification
Fair value level
2013
2012
Cash and cash equivalents
L&R
N/A
$ 62,768,500
$ 67,924,259
Short-term investments
L&R
N/A
252,500
252,500
Accounts receivable
L&R
N/A
4,944,394
6,268,523
Due to SLGA
OL
N/A
54,860,290
60,277,788
Accounts payable and accrued liabilities
OL
N/A
15,623,514
18,166,200
Long-term debt
OL
N/A
58,282,720
63,283,923
Interest rate swap liability
FVTPL
2
7,319,250
7,636,994
FVTPL Fair value through profit and loss, L&R – Loans and receivables, OL – Other liabilities.