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Last updated: 18 October 2006
Financial statements
| 2006 $’000 |
2005 $’000 |
|
|---|---|---|
| BY TYPE | ||
| Capital commitments | ||
|
- | 6 |
| Total capital commitments | - | 6 |
| Other commitments | ||
|
34,892 | 9,453 |
|
5,112 | 4,288 |
| Total other commitments | 40,004 | 13,741 |
| Commitments receivable | ||
|
(3,638) | (1,251) |
| Total commitments receivable | (3,638) | (1,251) |
| Net commitments | 36,366 | 12,496 |
| BY MATURITY | ||
| Capital commitments | ||
|
- | 6 |
|
- | - |
|
- | - |
| - | 6 | |
| Operating lease commitments | ||
|
3,305 | 3,252 |
|
10,648 | 6,201 |
|
20,939 | - |
| 34,892 | 9,453 | |
| Other commitments | ||
|
4,154 | 3,299 |
|
958 | 989 |
|
- | - |
| 5,112 | 4,288 | |
| Commitments receivable | (3,638) | (1,251) |
| Net commitments by maturity | 36,366 | 12,496 |
| The above statement should be read in conjunction with the accompanying notes. | ||
- Operating leases included are effectively non-cancellable and include leases for office accommodation, motor vehicles and IT equipment and services.
- Lease payments are subject to rent reviews in accordance with the lease agreement.
- The initial periods of office accommodation leases are still current.
- The lessor provides general IT services, equipment, software and support for the Commission.
- The initial contract of 5 years has been extended for 4 years.
- Pricing is subject to review annually.
- No contingent rentals exist.
- There are no purchase options available to the Commission.
- Other commitments comprise amounts committed for development and administrative activities.
| Nature of lease | General description of leasing arrangement |
|---|---|
Leases for office accommodation |
|
Lease for general IT services, equipment, software and support |
|
Agreements for the provision of motor vehicles to senior executive officers |
Other commitments comprise amounts committed for development and administrative activities