Here - ETDP Seta

Summary of total funding commitments
Discretionary reserves per statement of financial position 242,713
Contracted funding per above table (108,394)
Committed in 2011/12 budget (141,287)
Funded by future revenue (6,968)
2010/11 2009/10
R’000 R’000
18.2 Administration reserve
Reserve retained to cover future depreciation/amortisation of Property, plant
and equipment /Intangible assets 2,249 2,130
18.3 Total of future minimum lease payments under non-cancellable
leases:
18.3.1 Operating Leases
Buildings
Not later than one year 1,700 12
Later than one year and not later than five years 2,181 2,307
3,881 2,319
The leases relate to building premises used for office accommodation. The lease agreement for office space in Johannesburg was entered
into effective 1 August 2010 and will expire on 31 July 2011. A lease agreement for office space at the Polokwane regional office was
entered into effective 1 November 2008 and will expire on 31 October 2011. A lease agreement for office space at the East London
regional office was entered into effective 1 June 2010 and will expire on 31 May 2013. A lease agreement for office space at the Durban
regional office was entered into effective 1 August 2009 and will expire on 31 July 2012. No provision was made for an option to renew
the leases on expiry other than the Johannesburg office. Future commitments are determined by obligations contained in the lease
agreements.
ETDP•SETA Annual Report 2010/11
85