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Financial statements
Murray-Darling Basin Commission |
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Schedule of Commitments |
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as at 30 June 2004 |
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2004
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2003 |
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$’000
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$’000 |
BY
TYPE |
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Capital commitments |
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Infrastructure, property, plant and equipment |
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- |
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28 |
Total capital commitments |
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-
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28 |
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Other commitments |
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Operating leases |
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2,384
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2,157 |
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Other commitments |
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5,513
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10,320 |
Total other commitments |
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7,897
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12,477 |
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Commitments receivable |
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(718)
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(1,137) |
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Net commitments |
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7,179
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11,368 |
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BY
MATURITY |
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All net commitments |
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One year or less |
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4,055
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8,568 |
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From one to five years |
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3,124
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2,800 |
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Over five years |
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-
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- |
Net commitments |
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7,179
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11,368 |
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Operating lease commitments |
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One year or less |
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836
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572 |
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From one to five years |
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1,548
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1,585 |
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Over five years |
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-
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- |
Total operating lease commitments |
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2,384
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2,157 |
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Capital commitments |
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One year or less |
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-
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28 |
Total capital commitments |
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-
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28 |
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Other commitments |
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One year or less |
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3,624
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8,805 |
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From one to five years |
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1,889
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1,515 |
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Over five years |
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-
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- |
Total other commitments |
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5,513
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10,320 |
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Commitments receivable |
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(718)
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(1,137) |
Net commitments |
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7,179
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11,368 |
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All commitments are stated inclusive of Goods and Service Tax
where relevant. |
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Commitments
for capital construction exist between the Constructing Authorities
and their sub-contractors and not between Constructing Authorities
and the Commission. |
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Operating
leases are effectively non-cancellable and comprise: |
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Nature of Lease |
General description of leasing arrangement |
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Leases for office accommodation |
Lease payments are subject to annual increases in accordance with
upwards movements in the Consumer Price Index. The initial periods
of office accommodation are still current and may be renewed for
up to five years at MDBC’s option, following a once-off adjustment
of rentals to current market levels. |
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Lease for office accommodation fit-out |
An additional rent is paid on the office accommodation for the fit-out
of the office premises. Fit-out rent is a set amount each year for
the continuing term of the lease. |
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Lease for computer equipment |
Lease payments are made for the supply of office computer equipment
for a period of three years. Computer equipment rent is a set amount
each year for the term of the lease. All leased equipment will remain
the property of the lessor. |
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