#### 6.1 Receivables

Receivables includes amounts owing from government through appropriation receivable, short and long-term credit and accounts receivable, accrued investment income, grants, taxes and interest receivable.

###### Receivables

($ thousand)
2019
Contractual
Receivables – government	107,563
Receivables (iii) Receivables (iii) – non-government	287,889
Statutory
Amounts Amounts owing from Victorian Government	395,001
GST input tax credit recoverable from the ATO	18,822
FBT	144
Total receivables	809,419
Represented by:
Current receivables	546,341
Non-current receivables	263,078
Contractual receivables outstanding written off during the reporting period and still subject to enforceable activity	–
i. The amounts recognised from the Victorian Government represent funding for all commitments incurred through the appropriations and are drawn from the Consolidated Fund as the commitments fall due. ii. Includes $246.6 million of rural assistance schemes provided to farmers which is guaranteed by the Commonwealth. Effective from 30 June 2016, the Rural Assistance Commissioner replaced the former Rural Finance Corporation Victoria. Through an agreement with the Government, rural assistance schemes such as grants and loans are delivered by Bendigo and Adelaide Bank under the name Rural Finance. Rural Finance delivers rural assistance schemes, such as drought and dairy concessional loans, on behalf of the Government. See Note 7.1 – Borrowings for advances from Commonwealth relating to the Federal Government's concessional loan scheme with the Department of Agriculture and Water Resources. iii. Includes a grant advance in March 2019 of $7.5 million from a total grant of $10 million to a non public institution to be repaid by 30 June 2021. In addition, in April 2019, DJPR (on behalf of the State) provided a restructuring package of $20 million in the form of a convertible loan which on 30 May 2019 was exchanged for convertible notes. As at 30 June 2019, DJPR held $19.25 million convertible notes. Both the advance and convertible loan have been measured at fair value through profit and loss under AASB 9 Financial Instruments. The fair value approximates the transaction price as at 30 June 2019. DJPR’s $19.25 million convertible notes and $7.5 million advanced grant monies are secured against the assets of institution.

Contractual receivables receivables are classified as financial instruments and categorised as ‘financial assets at amortised costs’. They are initially recognised at fair value plus any directly attributable transaction costs. DJPR holds the contractual receivables with the objective to collect the contractual cash flows and therefore subsequently measured at amortised cost using the effective interest method, less any impairment. Statutory receivables receivables do not arise from contracts and are recognised and measured similarly to contractual receivables (except for impairment), but are not classified as financial instruments for disclosure purposes. DJPR applies AASB 9 for initial measurement of the statutory receivables and as a result statutory receivables are initially recognised at fair value plus any directly attributable transaction cost. Amounts recognised from the Victorian Government represent funding for all commitments incurred and are drawn from the Consolidated Fund as the commitments fall due. Details about DJPR's impairment policies, the exposure to credit risk, and the calculation of the loss allowance are set out in note 8.1.3

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DJPR Annual Report 2018–19