KU Financial Report
Notes to the Financial Statements
Continued...
17. Economic Dependency As disclosed at note 4 a significant source of revenue is government funding. This funding supports programs for early childhood education and care.
18. Related Party Disclosures
a) Directors’ compensation The Directors act in an honorary capacity and receive no compensation for their services( 2010: nil).
b) Transactions with Director-related entities During the year, no amounts were paid to Director-related parties. No amounts are payable to or receivable from Directors or Director related entities at the reporting date. A Director utilises the services of KU Children’ s Services and pays the arms length market rates for provision of these services.
c) Key Management Personnel Remuneration The names and positions of those having authority for planning, directing and controlling the company’ s activities, directly or indirectly( other than Directors), are:
Sheridan Dudley Chief Executive Officer( resigned 8 April 2011) Chris Legg Monique Beange
Chief Executive Officer General Manager, Early Childhood Education Margaret Brodie General Manager, Corporate Services( resigned 30 December 2011) Stes Stengos Jane Robinson Karen Dawson Poppy Brown Kim Bertino
Chief Financial Officer / General Manager, Corporate Services General Manager, People Services General Manager, Public Affairs and Development General Manager, Community Programs General Manager, Early Childhood Strategy
2011 $
2010 $
The aggregate compensation of the key executive management personnel of the company is set out below
Total compensation 1,285,295 1,099,385
36 KU Children’ s Services