2007 Annual report (PDF 8.1 Mb) - University of Melbourne

FINANCIAL
STATEMENTS
NOTE 35: COMMITMENTS
CONSOLIDATED
UNIVERSITY
2007 2006 2007 2006
$’000 $’000 $’000 $’000
Note 35.1: Capital Commitments
Commitments for the construction and acquisition of buildings,
plant and equipment contracted for at the reporting date but not
recognised as liabilities, payable:
Within one year 73,833 56,195 73,043 55,649
Later than one year but not later than five years 10,888 62,240 10,848 62,200
Later than five years - - - -
Total Capital Commitments 84,721 118,435 83,891 117,849
Note 35.2: Lease Commitments - As Lessee
Commitments for minimum lease payments in relation to
operating leases at the reporting date but not recognised
as liabilities, payable:
Within one year 3,963 4,828 3,263 4,041
Later than one year but not later than five years 9,592 13,007 8,226 11,126
Later than five years 13,694 26,581 13,219 26,106
27,249 44,416 24,708 41,273
Representing:
Cancellable operating leases 2,336 - - -
Non-cancellable operating leases 24,913 44,416 24,708 41,273
Total Lease Commitments - as Lessee 27,249 44,416 24,708 41,273
Note 35.3: Lease Commitments - As Lessor
Future minimum rentals receivable under non-cancellable
operating leases at the reporting date but not recognised as
assets, receivable:
Within one year 4,654 2,374 3,103 863
Later than one year but not later than five years 7,578 2,590 5,571 1,380
Later than five years 1,078 1,021 140 55
Total Lease Commitments - as Lessor 13,310 5,985 8,814 2,298
The University has entered into operating leases with various
businesses as lessor to lease retail space at Union House and
other areas controlled by the University for the purpose of
providing services to students. Included below is the rentals
receivable from these properties.
Note 35.4: Other Expenditure Commitments
Within one year 3,290 4,543 3,250 4,500
Later than one year but not later than five years 4,112 4,187 4,000 4,000
Later than five years 3,000 4,000 3,000 4,000
Total Other Expenditure Commitments 10,402 12,730 10,250 12,500
Included in the above is the University’s commitment to contribute $1.0 million (2006, $2.0 million) for the Synchrotron Project and
$9.3 million (2006, $10.5 million) to Uniseed with no specified payment plan.
The University of Melbourne Annual Report 2007 133