Statement of Commitments as at 30 June 2005
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 systems, and photocopiers.
| | 2005
Actual
$000 (thousands of dollars) | 2004
Actual
$000 (thousands of dollars) |
|---|
| Operating Commitments | | |
|---|
| Accommodation leases | 32,393 | 28,974 |
|---|
| Other operating commitments | 57 | 252 |
|---|
| Total Operating Commitments (as detailed below) | 32,450 | 29,226 |
|---|
| Capital Commitment - leasehold improvements and development of websites and registry systems upgrades | 1,850 | 315 |
|---|
| Total Commitments | 34,300 | 29,541 |
|---|
| Term Classification for Operating Commitments | | |
|---|
| Less than one year | 5,616 | 5,256 |
|---|
| From one to two years | 4,666 | 3,560 |
|---|
| From two to five years | 11,612 | 9,592 |
|---|
| Over five years | 10,556 | 10,818 |
|---|
| Total Operating Commitments | 32,450 | 29,226 |
|---|
This statement is to be read in conjunction with the Statement of Accounting Policies and Notes to the Financial Statements.
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