Annual Report - COMPLETE - Australian Crime Commission

Note 9: Interest Bearing Liabilities
Note 9A: Leases
116 I ACC ANNUAL REPORT 2003–04
2004
$
01.01.03-
30.06.03
$
Finance Lease Commitments:
Payable:
Within one year 338,555 559,002
In one to five years
-
338,554
In more than five years
-
-
Minimum lease payments 338,555 897,556
Deduct: future finance charges (3,517) (24,671)
Net lease liability 335,038 872,885
Lease liability is represented by:
Current 335,038 537,848
Non-current - 335,037
Net lease liability 335,038 872,885
Finance leases exist in relation to information technology equipment. One lease is non-cancellable
for a fixed term of 3 years. The ACC guarantees the residual values on that lease. The other
leases are cancellable during the 3 year term. These leases have been capitalised in accordance
with Australian Accounting Standard (AAS 17). There are no contingent rentals.
Note 9B: Other Interest Bearing Liabilities
Lease incentives 268,334 338,334
Other 10,701 217,682
279,035 556,016
Other interest bearing liabilities are represented by:
Current 279,035 287,682
Non Current - 268,334
Total other interest bearing liabilities 279,035 556,016