Annual Report 2012 - The Australian Property Institute

The Australian Property Institute Annual Report | 2012Notes To and Forming Part Of theFinancial Statements for the YearEnded 31 December 2012 (Cont’d)12. Leasing Commitments (continued)2012 2011$ $Capital expenditure commitmentsCapital expenditure contracted for but not capitalised in the financial statementsPayable- Not later than 1 year 237,083 -237,083 -Operating lease commitments comprise of non-cancellable leases over the rental ofthe premises and photocopiers. Capital expenditure commitments pertain to the officerefurbishment, fit-out of the new premises and corporate fees for strategic review.13. Events Subsequent To Balance DateNo matters or circumstances have arisen since the end of the financial year which significantly affected the operationsof the Institute, the results of these operations, or state of affairs of the Institute in the subsequent financial years.75