Annual Report 2005 - Publications Unit - The University of Western ...

THE UNIVERSITY OF WESTERN AUSTRALIANOTES TO THE FINANCIAL STATEMENTS31 DECEMBER 200537. Commitments(a)Expenditure commitmentsOutstanding commitments for general expenditure:ConsolidatedUniversity2005 2004 2005 2004$ ’000 $ ’000 $ ’000 $ ’000No later than one year 5,126 4,388 5,126 4,388Later than one year but no later than five years - - - -Later than five years - - - -5,126 4,388 5,126 4,388(b)Capital commitmentsCapital expenditure contracted for at the reporting date but not recognised as liabilities is as follows:Land and buildingsPayables:ConsolidatedUniversity2005 2004 2005 2004$ ’000 $ ’000 $ ’000 $ ’000No later than one year 44,056 19,609 44,056 19,609Later than one year but no later than five years 52,227 18,188 52,227 18,188Later than five years - - - -96,283 37,797 96,283 37,797Other plant and equipmentPayables:No later than one year 2,674 1,243 2,673 1,243Later than one year but no later than five years - - - -Later than five years - - - -2,674 1,243 2,673 1,243(c)Lease commitmentsCommitments in relation to non-cancellable operating leases are payable as follows:ConsolidatedUniversity2005 2004 2005 2004$ ’000 $ ’000 $ ’000 $ ’000No later than one year 638 403 508 403Later than one year but no later than five years 758 426 362 426Later than five years 27 - - -1,423 829 870 82938. Contingent liabilities and assets(a)Contingent liabilitiesAs at 31 December 2005 or at the date of this report, there are no known contingent liabilities which are likely to materially affectthe University’s financial position.(b)Contingent assetsA contingent asset exists in relation to funds bequeathed to the University by way of a Will. The timing of any future inflows ofeconomic benefit cannot be reasonably determined.As at 31 December 2005 or at the date of this report, there are no other known contingent assets which are likely to materiallyaffect the University’s financial position.64