Section 2 - Sugar Research and Development Corporation

78
Sugar Research and Development Corporation
SCHEDULE OF COMMITMENTS
as at 30 June 2011
SRDC Annual Report 2010–2011
2011
$’000
2010
$’000
BY TYPE
Commitments receivable
Net GST recoverable on commitments 1,900 2,027
Total commitments receivable
Commitments payable
Other commitments
1,900 2,027
Operating leases1 (261) (475)
Research and development grants – PIERD (20,648) (21,830)
Total other commitments (20,909) (22,305)
Net commitments by type (19,009) (20,278)
BY MATURITY
Commitments receivable
Other commitments receivable
One year or less 878 824
From one to fi ve years 1,022 1,203
Total other commitments receivable
Commitments payable
Operating lease commitments
1,900 2,027
One year or less (214) (214)
From one to fi ve years (47) (261)
Total operating lease commitments
Other Commitments
(261) (475)
One year or less (9,447) (8,858)
From one to fi ve years (11,201) (12,972)
Total other commitments (20,648) (21,830)
Net commitments by maturity (19,009) (20,278)
The above statement should be read in conjunction with the accompanying notes.
Note: Commitments are GST inclusive where relevant.
1 Operating leases included are effectively non-cancellable and comprise:
Lease for offi ce accommodation
Lease payments are subject to an annual increase of 5%. The initial periods of offi ce accommodation
leases are still current.