Section 2 - Sugar Research and Development Corporation

100
Sugar Research and Development Corporation
NOTES OF THE FINANCIAL STATEMENTS
Note 12: Related Party Disclosures
There were no transactions, grants or relationships to directors of any related parties (2009–2010: Nil).
Note 13: Executive Remuneration
Note 13A: Senior Executive Remuneration Expense for the Reporting Period
2011 2010
$
(2)
$
Short-term employee benefi ts:
Salary 175,000 –
Annual leave accrued (3,869) –
Total short-term employee benefi ts
Post-employment benefi ts:
171,131 –
Superannuation 33,569 –
Total post-employment benefi ts
Other long-term benefi ts:
33,569 –
Long-service leave 3,310 –
Total other long-term benefi ts 3,310 –
Total 208,010 –
Notes:
1. Note 13A was prepared on an accrual basis.
2. Note 13A excludes acting arrangements and part-year service where remuneration expensed for
a senior executive was less than $150,000. In 2009–2010, two offi cers held positions as Acting
Executive Director and as a Part Year Executive Director. These have not been disclosed in either
Note 11 or 13. This is because the Directors were in an Acting Role and on a Part Year basis and the
remuneration was less than $150,000 for each individual Director. The combined remuneration for
these directors was $212,477 for the Financial Year 2009–2010.
3. The remuneration package for the Executive Director does not include provision for performance
bonuses or increments.
SRDC Annual Report 2010–2011