Annual Report - Campus Living Villages

7 8 Campus Living Villages Annual Report 09/10
Campus Living Australia Trust
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2010
A$’000
CLAT
23. Commitments
a) Capital commitments
Capital expenditure contract for at reporting date but not recognised as a liability is:
Property, plant and equipment June 2010 June 2009
Payable within one year 17,513 88,431
17,513 88,431
b) Lease commitments
Commitments in relation to leases contracted for at reporting date but not recognised as liabilities are as follows:
June 2010 June 2009
Payable within one year 2,562 2,030
Payable within two to five years 8,755 6,504
Payable after five years 30,978 26,919
These lease commitments represent:
42,295 35,453
- Non-cancellable operating leases (c) 19,152 10,877
- Future finance charges on finance leases (d) 23,143 24,576
42,295 35,453
c) Operating leases
The consolidated entity leases office space and accommodation from certain universities, which have varying terms, escalation
clauses and renewal rights.
June 2010 June 2009
Payable within one year 1,149 596
Payable within two to five years 3,341 992
Payable after five years 14,662 9,289
19,152 10,877
d) Finance leases
The consolidated entity leases $18.3m (2009: $19.1m) of property, plant and equipment under finance lease. Commitments under
finance leases are:
June 2010 June 2009
Payable within one year 1,724 1,724
Payable within two to five years 6,896 6,896
Payable after five years 35,342 37,066
Minimum lease payments 43,962 45,686
Future finance charges 23,143 24,576
Total finance lease liability 20,819 21,110