to view the 2010 Annual Report - Triathlon New Zealand

8. Related Parties
Triathlon New Zealand Incorporated has the following related parties as at 30 June 2010.
Mark Watson - Board Member Mark has been remunerated $2,000 as a High Performance Coach and $3,000 as a
broadcaster.
Juliet Fahey - Board Member Juliet is a Level 2 ITU Accredited Official and as such officiates at some of our events. She
receives petrol vouchers to cover some of her costs to attend these events.
Juliet was awarded and paid a Prime Minister Scholarship $1628.56
Juliet was remunerated $3,000 as the Race Director for our Contact Tri Series race in
Timaru.
9. Capital Commitments
Triathlon New Zealand Incorporated has no commitments to capital expenditure as at 30 June 2010 (2009:Nil).
10. Contingent Liabilities
Triathlon New Zealand Incorporated has no contingent liabilities as at 30 June 2010 (2009:Nil).
11. Operating Commitments
Amounts due in future for operating lease payments are:
$
2010
Leasing Costs - Current 118,063 98,542
Leasing Costs - Term 33,765 231,612
$
2009
151,828 330,154
12. Administration Expenditure
Included in the Administration expenses for the year are:
$
2010
Audit fees 11,100 11,500
Consultancy (Hayes Knight) 12,968 0
Legal expenses 6,728 13,003
Leasing Costs 124,087 115,055
$
2009
13. Post Balance Date Event
On 26 June 2010, Triathlon New Zealand won the bid to host the 2012 ITU World Championships. This event will be held in
Auckland in October 2012, with a test event being held in October 2011. A separate company, fully owned by Triathlon New
Zealand, has been incorporated after balance date to oversee the planning and running of this event.
14. Members Equity
Members Equity is made up as follows:
$
2010
General Funds 73,391 103,672
High Performance Fund 239,892 152,187
Total Members Equity 313,283 255,859
15. In-Kind Sponsorship
Triathlon New Zealand has received sponsorship during the year that includes the provision of goods and services at no cost.
The amount of these items is not included in sponsorship in the statement of financial performance as the value of the goods
and services provided are difficult to measure reliably. These sponsors are listed in the annual report and Triathlon New
Zealand is grateful for the support of those sponsors.
$
2009
Triathlon New Zealand 2010 Annual Report | 64