Statement of Commitments as at 30 June 2004
The Ministry has long-term leases on its premises in New Zealand. The annual lease payments are subject to three-yearly reviews. The amounts disclosed below as future commitments are based on the current rental rates.
Other operating commitments include non-cancellable contracts for building services and leases for computer equipment, telephone exchange system, and photocopiers.
| | 2004
Actual | 2003
Actual |
| | $000 | $000 |
| Operating Commitments | | |
| Accommodation leases | 28,974 | 35,707 |
| Other operating commitments | 252 | 2,382 |
| Total operating commitments (as detailed below) | 29,226 | 38,089 |
| Capital Commitment - leasehold improvements and development of REGIS/Energy Statistics Database |
315 |
642 |
| Total Commitments | 29,541 | 38,731 |
| Term Classification for Operating Commitments | | |
| Less than one year | 5,256 | 8,056 |
| From one to two years | 3,560 | 5,565 |
| From two to five years | 9,592 | 10,872 |
| Over five years | 10,818 | 13,596 |
| Total Operating Commitments | 29,226 | 38,089 |
This statement is to be read in conjunction with the Statement of Accounting Policies and Notes to the Financial Statements.
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