Statement of Commitments as at 30 June 2001
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.
| | 2001
Actual | 2000
Actual |
|---|
| | $000 | $000 |
| Operating Commitments | | |
| Accommodation leases | 28,688 | 34,759 |
| Other operating commitments | 2,650 | 3,321 |
| Register of radio frequencies2 | 3,075 | 4,027 |
| Total operating commitments (as detailed below) | 34,413 | 42,107 |
| Memorandum Account Balances | 29,783 | 24,892 |
| Capital Commitment - development of personal property securities register | 422 | - |
| Total Commitments | 64,618 | 66,999 |
| Term Classification for Operating Commitments | | |
| Less than one year | 8,818 | 8,841 |
| From one to two years | 9,118 | 9,004 |
| From two to five years | 11,902 | 17,541 |
| Over five years | 4,575 | 6,721 |
| Total Operating Commitments | 34,413 | 42,107 |
This statement is to be read in conjunction with the Statement of Accounting Policies and Notes to the Financial Statements.
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