Statement of Commitments as at 30 June 2003
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.
| 2003 | 2002 |
| Actual | Actual |
| $000 | $000 |
| Operating Commitments | | |
| Accommodation leases | 35,707 | 39,784 |
| Other operating commitments | 2,382 | 3,171 |
| Total operating commitments (as detailed below) | 38,089 | 42,955 |
| Capital Commitment - development of REGIS/Energy Statistics Database | 642 | -- |
| Total Commitments | 38,731 | 42,955 |
| Term Classification for Operating Commitments | | |
| Less than one year | 8,698 | 8,206 |
| From one to two years | 5,565 | 6,653 |
| From two to five years | 10,872 | 11,210 |
| Over five years | 13,596 | 16,886 |
| Total Operating Commitments | 38,731 | 42,955 |
This statement is to be read in conjunction with the Statement of Accounting Policies and Notes to the Financial Statements.
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