FINANCIALS 2018
15. Fundraising Reserve
2018 2017
$ $
1,149,130 1,213,017
Transfer (from)/to general funds (20,849) (63,887)
Balance at end of financial year 1,128,281 1,149,130
Balance at beginning of financial year
KU
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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
Transfer from general funds - (1,117,000)
Balance at end of financial year - -
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 668,830 1,135,814
Longer than 1 year and not longer than 5 years 585,598 321,119
Longer than 5 years 141,940 56,009
1,396,368 1,512,942
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