FINANCIALS 2018
18. Contingent Liabilities
2018 2017
$ $
4,796 4,796
15,400 15,400
Bank Guarantee 8 September 2016 to Clearview Holdings Pty Ltd 2,929 2,929
Bank Guarantee 8 September 2016 to R N & K M REIMIERS 9,349 9,349
Bank Guarantee 12 September 2016 to Abalon Properties Pty Ltd 7,400 7,400
Bank Guarantee 12 September 2016 to Kearley Investments Pty Ltd 9,900 9,900
Bank Guarantee 12 September 2016 to Clearview Holdings Pty Ltd 12,696 12,696
Bank Guarantee 16 May 2018 to Centennial Park and Moore Park Trust 42,063 -
Bank Guarantee 16 May 2018 to Hornsby Shire Council 20,196 -
Bank Guarantee 28 May 2018 to Hornsby Shire Council 12,733 -
Bank Guarantee 28 May 2018 to Hornsby Shire Council 21,791 -
159,253 62,470
Bank Guarantee 21 January 2014 to Central Coast
Regional Development Corporation
Bank Guarantee 30 April 2015 to Marrickville 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
a) Directors’ compensation
The Directors act in an honorary capacity and receive no compensation for their services (2017: 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. If a Director utilises the services of KU Children’s
Services they pay the arms length market rates for provision of these services.
c) Key Management Personnel Remuneration
The aggregate compensation of the key executive management personnel of the Company is set out below:
Total compensation
1,813,163
1,765,169
KU Executive salaries are independently benchmarked on an annual basis by a specialist remuneration consultancy
firm, against open market and not for profit sector trends.
27
KU
20
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