HSRC Integrated Annual Report 2018/2019

134 / HSRC INTEGRATED ANNUAL REPORT 2018/19 PART E: ANNUAL FINANCIAL STATEMENTS 30.2 Interest Rate Risk The HSRC manages its interest rate risk by fixing rates on surplus cash funds using short to medium term fixed deposits. The HSRC’s exposure to interest rate risk and the effective rates applying on the different classes of financial instruments is as follows: Note Effective Interest Rate (fluctuating) 2019 March 2018 March Less than 12 months One to five years Total Less than 12 months One to five years Total R’000 R’000 R’000 R’000 R’000 R’000 Financial Assets Current accounts 1 3.00% 12 413 - 12 413 11 824 - 11 824 Short-term investments accounts 1 5–6.5% 32 384 - 32 384 31 931 - 31 931 Trade and other receivables 2 0.00% 57 446 - 57 446 43 782 - 43 782 Total financial assets 102 243 - 102 243 87 537 - 87 537 Financial Liabilities Measured at amortised cost Trade and other payables 8 0.00% 42 958 - 42 958 36 400 - 36 400 Total financial liabilities 42 958 - 42 958 36 400 - 36 400 Net financial assets 59 285 - 59 285 51 136 - 51 136 NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2019 (Continued)