Note 5: Finance costs
Te Motu Regional Economic Development Trust: Model financial statements 2008/09.
Finance costs
| NZ IAS 1.103(c) | Actual 2009 |
Actual 2008 |
|
|---|---|---|---|
| Interest on bank overdraft | 1,478 | 1,017 | |
| Interest on Council borrowings using the effective interest rate | 4,000 | 3,578 | |
| NZ IFRS 7.20(b) | Total interest expense | 5,478 | 4,595 |
| NZ IAS 37.84(e) | Discount unwinding on provisions (note 16) | 2,741 | 2,532 |
| Total finance costs | 8,219 | 7,127 |
Note 4: Personnel costs
