Annual Report 2002–03 > Table of Contents > Financial Statements 2002–03 > Schedule of Commitments

Schedule of Commitments

JOINT HOUSE DEPARTMENT
SCHEDULE OF COMMITMENTS
as at 30 June 2003
				2002–03	2001–02
			Notes	$'000	$'000
BY TYPE
Capital commitments				0	0

Other commitments
	Operating leases¹			4 768	4 504
	Other commitments			28 469	16 072
*Total other commitments*				33 237	20 576

Commitments receivable				(3 022)	(1 871)
Net commitments				30 215	18 705


BY MATURITY

All net commitments
	One year or less			6 935	10 455
	From one to five years			23 229	8 250
	Over five years			51	0
*Net commitments by maturity*				30 215	18 705


Gross Operating lease commitments
	One year or less			1 188	1 298
	From one to five years			3 580	3 206
	Over five years			0	0
*Total operating leases*				4 768	4 504


NB: Commitments are GST inclusive where relevant.

¹	Operating leases included are effectively non-cancellable and comprise:

	Nature of lease	General description of leasing arrangement
	Leases for office accommodation.	Lease payments to the Commonwealth, are subject to annual increases in accordance with movements in the Consumer Price Index. The current lease agreement is for a period of ten years.
	Leases for storage facilities.	Lease payments are subject to annual increases in accordance with movement in the Consumer Price Index. The current sub-lease agreement is for a period of five years.
	Agreements for the provision of motor vehicles to executive officers.	Lease periods vary from 18 to 60 months, depending on the type of vehicle leased. Ownership never passes to JHD. There are no renewal or purchase options at the end of the agreement.

The above statement should be read in conjunction with the accompanying notes.

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