KU2020
18 . Contingent Liabilities
2020 2019
$ $ Bank Guarantee 21 January 2014 to Central Coast Regional Development Corporation 4,796 4,796 Bank Guarantee 30 April 2015 to Marrickville Council 15,400 15,400 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 15 May 2018 to Centennial Park and Moore Park Trust 42,062 42,062 Bank Guarantee 15 May 2018 to Hornsby Shire Council 20,196 20,196 Bank Guarantee 28 May 2018 to Hornsby Shire Council 12,733 12,733 Bank Guarantee 28 May 2018 to Hornsby Shire Council 21,791 21,791 Bank Guarantee 18 May 2020 to Ku-ring-gai Council 262,488 -
19 . Economic Dependency
396,766 134,278
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 ( 2019 : 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 1,596,723 1,551,147
KU Executive salaries are independently benchmarked regularly by a specialist remuneration consultancy firm , against open market and not for profit sector trends .
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