KU Financial Report
Notes to the Financial Statements
Continued...
17. Commitments for expenditure
Operating Leases
Leasing arrangements
Operating leases relate to centre facilities and to centre computer equipment. The company does not have
an option to purchase the leased assets at the expiry of the lease period.
Non-cancellable operating lease payments
Not longer than 1 year
Longer than 1 year and not longer than 5 years
Longer than 5 years
2010
$
834,423
715,438
11
1,549,872
2009
$
647,639
966,202
6
1,613,847
2010
$
191,291
5,000
196,291 2009
$
191,291
5,000
196,291
18. Contingent Liabilities
Bank Guarantee 22 October 1998 to Commonwealth
Bank Guarantee 31 January 1995 to Sydney City Council
19. Economic Dependency
As disclosed at note 5 a significant source of revenue is government funding. This funding supports programs
for early childhood education and care.
20. Related Party Disclosures
There were no related party transactions.
34
KU Children’s Services