Entire Document - Chris Hani District Municipality
Entire Document - Chris Hani District Municipality
Entire Document - Chris Hani District Municipality
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2009 2008<br />
Total Operating Lease Arrangements 1 314 911 645 689<br />
The following payments have been recognised as an expense in the Statement<br />
of Financial Performance:<br />
Minimum lease payments 659 778 481 606<br />
Total Operating Lease Expenses 659 778 481 606<br />
R<br />
R<br />
The municipality has operating lease agreements for the following classes of assets, which are only significant collectively:<br />
• Buildings<br />
• Office Equipment<br />
The following restrictions have been imposed on the municipality in terms of the lease agreements on Office Equipment:<br />
• The equipment shall remain the property of the rentor.<br />
• The hirer shall not sell, sublet, cede, assign or delegate any of its rights or obligations on the equipment.<br />
• The equipment shall be returned in good order and condition to the rentor upon termination of the agreement<br />
13 Long-Term Liabilities<br />
2009 2008<br />
R<br />
R<br />
Annuity Loans 8 626 446 9 553 861<br />
Sub-total 8 626 446 9 553 861<br />
Less: Current Portion transferred to Current Liabilities:- 974 365 927 415<br />
Annuity Loans 974 365 927 415<br />
Total Long-term Liabilities (Neither past due, nor impaired) 7 652 081 8 626 446<br />
Long-term Liabilities have been restated to correctly classify amounts to be included in Long-term Liabilities. Refer<br />
to Note 32.3 on “Correction of Error” for details of the restatement.<br />
13.1 Summary of Arrangements<br />
The Annuity Loan is repaid over a period of 7 (2008: 8) years and at an interest rate of 5,00% (2008: 5,00%) per<br />
annum. The Annuity Loans is not secured.<br />
Refer to Appendix “A” for more detail on Long-term Liabilities.<br />
14. RETIREMENT BENEFIT LIABILITIES<br />
14.1 Post-retirement Health Care Benefits Liability<br />
2009 2008<br />
R<br />
R<br />
Balance at beginning of Year 15 228 332 12 844 865<br />
Contributions to Provision 3 231 735 2 917 951<br />
Balance at end of Year 18 460 067 15 762 816<br />
Transfer to Current Provisions (689 568) (534 484)<br />
Total Post-retirement Health Care Benefits Liabiltiy 17 770 499 15 228 332<br />
Retirement Benefit Liabilities have been restated to adhere to the disclosure provisions of IAS 19. Refer to Note 31.3<br />
on “Change in Accounting Policy” for details of the restatement.<br />
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