FINANCIALS
15. Fundraising Reserve
2017 2016
$ $
1,213,017 1,204,164
Transfer (from)/to general funds (63,887) 8,853
Balance at end of financial year 1,149,130 1,213,017
Balance at beginning of financial year
KU
20
17
The fundraising reserve arises from the accumulated efforts of parents and staff to allow services to purchase
optional toys and equipment, to assist the service to expand and develop to meet local needs and to allow parents
to share in the life of the service and to make a concrete contribution to their children’s lives.
Further notes on fundraising are set out in Note 23.
16. Program Reserve
Balance at beginning of financial year
1,117,000 1,065,000
Transfer (from)/to general funds (1,117,000) 52,000
Balance at end of financial year - 1,117,000
The Program reserve relates to reserves set aside by the Company related to the programs. This reserve will be
utilised for potential future commitments on this program which the Program owner is not contractually bound to
meet.
17. Commitments for Expenditure
Operating Leases
Leasing arrangements
Operating leases relate to centre facilities and computer leases. KU 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
26
1,135,814 1,069,771
321,119 916,470
56,009 62,816
1,512,942 2,049,057