Page 158 - DUT Annual Report 2020

Reconciliation of levels 1 - 3 financial assets: Investments - 2019
Total
Level 1 Level 2 Level 3
Local listed shares Local unlisted shares Bonds
Unit trusts
Money market Foreign investments Total
240 576 65 77 664 106 12 605 108 409
240 576 - 77 664 - - 108 409 426 649
- - - 65 - -
106 - 12 605 - - - 12 711 65
439 425
156
Impact of interest changes on net surplus in R’ millions
-2%
-1%
-0. 5%
0. 5%
1%
2%
(1 485.16)
(742. 58)
(371. 29)
371.29
742.58
1 485.16
(1 652.14)
(826.07)
(413.03)
413.03
826.07
1 652.14
DURBAN UNIVERSITY OF TECHNOLOGY ANNUAL REPORT 2020
DURBAN UNIVERSITY OF TECHNOLOGY
NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020
22. RISK MANAGEMENT (continued) 22.4 Fair value estimation (continued)
The following tables shows a reconciliation from the opening balances to the closing balances for level 3 fair values of investment:
Reconciliation of level 3 financial Assets: Investments
Opening Balance at 1 January
FV Adjustment
Closing Balance as at 31 December
2020 2019 R’000 R’000 65 65 (4) - 61 65
The following tables shows a reconciliation from the opening balances to the closing balances for level 3 fair values of borrowings:
Reconciliation of level 3 financial liabilities: Borrowings
Opening Balance at 1 January Payments
Interest
Closing Balance as at 31 December
Analysis of level 3 fair value of borrowings:
2020 2019 R’000 R’000
As at December 31, 2020, the weighted average borrowing rate was determined at 9.81% (2019: 9.72%).
As at December 31, 2020, the average market related government bond rate was determined at 8.99% (2019: 8.23%) based on available information obtained from external sources.
Sensitivity Analysis:
The following tables demonstrate the sensitivity of the University's borrowings that are subject to interest rate risk to a reasonable possible change in interest rates, with all other variables held constant.
2020 2019
90 124 (16 088) 8 571 74 258 82 607
82 607 (16 141) 7 792