Statement of Commitments as at 30 June 2007
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.
|
2007
Actual
$000 |
2006
Actual
$000 |
| Operating Commitments |
|
|
| Accommodation leases |
31,106 |
30,863 |
| Other operating commitments |
47 |
30 |
| Total Operating Commitments (as detailed below) |
31,153 |
30,893 |
| Capital commitment – leasehold improvements and development of websites and registry systems upgrades |
100 |
886 |
| Total Commitments |
31,253 |
31,779 |
| Term Classification for Operating Commitments |
|
|
| Less than one year |
5,660 |
5,647 |
| From one to two years |
6,666 |
5,016 |
| From two to five years |
14,407 |
12,520 |
| Over five years |
4,420 |
7,710 |
| Total Operating Commitments |
31,153 |
30,893 |
This statement is to be read in conjunction with the Statement of Accounting Policies and Notes to the Financial Statements.
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