Statement of commitments
as at 30 June 2014
Annual Report 2013/14.
This statement records expenditure to which the Office is contractually committed at 30 June 2014.
Non-cancellable operating lease commitments
The Office leases property, plant, and equipment in the normal course of its business. The majority of these leases are for premises, which have a non-cancellable leasing period ranging from three to nine years.
The Office's non-cancellable operating leases have varying terms, escalation clauses, and renewal rights. There are no restrictions placed on the Office by any of its leasing arrangements.
| Actual 2013/14 |
Actual 2012/13 |
|
| $000 | $000 | |
| Non-cancellable operating lease commitments | ||
| Not later than one year | 2,458 | 2,485 |
| Later than one year and not later than five years | 8,994 | 9,111 |
| Later than five years | 3,242 | 6,756 |
| Total non-cancellable operating lease commitments | 14,694 | 18,352 |
| Total commitments | 14,694 | 18,352 |
The accompanying notes form part of these financial statements.