2010-11 Annual Report - Taranaki District Health Board

page 65
Notes to the Financial Statements
For the Year Ended 30 June 2011
17 INTEREST-BEARING LOANS AND BORROWINGS Group Parent
2011 2010 2011 2010
$000 $000 $000 $000
Finance Lease Liability - 526 - 526
Government Sector Borrowing 29,000 29,000 29,000 29,000
Total Loans 29,000 29,526 29,000 29,526
Less Current Portion 10,000 273 10,000 273
Term Portion 19,000 29,253 19,000 29,253
INTEREST RATES: 2011 2010
Government Sector Borrowing 6.30% - 7.32% 6.30% - 7.32%
ANALYSIS OF FINANCE LEASE LIABILITIES Group Parent
2011 2010 2011 2010
$000 $000 $000 $000
Total minimum lease payments are payable
Not later than one year - 273 - 273
Later than one year and not later than five years - 312 - 312
Later than five years - - - -
Total minimum lease payments - 585 - 585
Future finance charges - (59) - (59)
Present value of minimum lease payments - 526 - 526
Present value of minimum lease payments are payable
Not later than one year - 239 - 239
Later than one year and not later than five years - 287 - 287
Later than five years - - - -
Total - 526 - 526
Current - 239 - 239
Non-current - 287 - 287
- 526 - 526
FINANCE LEASE OBLIGATIONS
Finance lease obligations are secured by charges over plant and equipment. They are repaid over the duration of the lease by regular monthly or
quarterly instalments. The majority of these leases have the option at the expiry of the original term to either return the equipment, extend the lease
period or purchase the equipment at Fair Market Value.
Group
Parent
2011 2010 2011 2010
GOVERNMENT SECTOR BORROWING $000 $000 $000 $000
Due for repayment:
within one year 10,000 - 10,000 -
within two years 7,000 10,000 7,000 10,000
within three years - 7,000 - 7,000
within four years 12,000 - 12,000 -
within five years - 12,000 - 12,000
after five years - - - -
29,000 29,000 29,000 29,000