Annual Report - Campus Living Villages

9 6 Campus Living Villages Annual Report 09/10
Campus Living Finance Trust
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2010
A$’000
CLFT
c) Liquidity risk
Funds drawn from the ANZ facility are lent to entities within the group at the variable rate plus an appropriate margin to
cover interest and finance charges incurred. The related party borrowings bear interest at a variable rate (refer note 11).
The forecasted payments of interest and principal of all external borrowings are:
June 2010 June 2009
Payments within one year 12,680 72,964
Payments within two to five years - -
Total payments 12,680 72,964
The forecasted payments of interest and principal of all internal borrowings are:
June 2010 June 2009
Payments within one year 2,142 -
Payments within two to five years 5,532 -
Payments after five years 38,221 -
Total payments 45,895 -
3. Revenue
June 2010 June 2009
Interest
- External 9 27
- Related parties 7,109 7,672
Total revenue 7,118 7,699
4. Borrowing costs
June 2010 June 2009
Interest and finance charges
- Related parties 273 -
- External 1,358 3,396
1,631 3,396
Amortisation of borrowing costs 433 541
Total borrowing costs 2,064 3,937
5. Other expenses
June 2010 June 2009
Directors’ remuneration (refer note 16) 4 153
Auditors’ remuneration (refer note 17) 78 69
Fund managers’ fees (refer note 18)
- Base fees 591 512
- Performance fees (below cap) 1,638 1,061
- Performance fees (above cap) (973) 987
Other expenses 349 36
Total other expenses 1,687 2,818