KU Financial Report KU Financial Report 2021 | Page 23

REVENUE SOURCES
FINANCIAL REPORT
Other revenue

5 %

Parent fees

40 %

Government funding

55 %

6 . Trade and Other Receivables
2021
2020
$
$
Trade receivables Trade receivables
439,336
278,074
Allowance for expected credit losses
( 61,251 )
( 92,414 )
Accrued income
( 10,000 )
-
386,085
185,660
Other receivables Other receivables
96,410
268,555
464,495
454,215
Reconciliation of allowance for expected credit losses Balance 1 January
92,414
84,349
Increase to allowance for expected credit losses
9,995
92,016
Impairment recovery
( 41,158 )
( 83,951 )
Balance 31 December
61,251
92,414
No interest is charged on the trade receivables . The expected credit losses for other receivables is NIL as it relates mainly to interest receivable from banking institutions with low default rates .
7 . Other Assets
2021 2020 $ $
Prepayments 1,425,022 1,883,161 1,425,022 1,883,161
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