Statement of Commitments
as at 30 June
Capital commitments
Capital commitments are the aggregate amount of capital expenditure contracted for the acquisition of property, plant, and equipment and intangible assets that have not been paid for or recognised as a liability at 30 June 2009.
Operating lease commitments
The Ministry operates from premises that are leased on short and long-term bases. The annual lease payments are subject to periodic review. The amounts disclosed below as future commitments are based on current agreements and rental rates.
Other operating commitments
There are fisheries and biodiversity research projects and registry services contracts that have been entered into in 2008/2009 for which the service will be performed after 30 June 2009.
|
|
|
|
|
2009
Actual
$000 |
2008
Actual
$000 |
|
|
|
|
Operating commitments |
|
|
| |
18,468 |
19,711 |
- Later than one year and not later than two years
|
6,364 |
9,066 |
- Later than two years and not later than five years
|
8,295 |
11,334 |
|
|
2,450 |
5,124 |
|
|
|
|
Total operating commitments |
35,577 |
45,235 |
|
|
|
|
Capital commitments |
|
|
Property, plant and equipment |
0 |
0 |
Intangible assets |
0 |
0 |
|
|
|
|
Total capital commitments |
0 |
0 |
|
|
|
|
Total commitments |
35,577 |
45,235 |
|
|
|
|
The Ministry's operating leases have varying terms, escalation clauses, and renewal rights.
These financial statements should be read in conjunction with the statement of accounting policies on pages 50 to 55 and the notes to the financial statements on pages 62 to 75.