Australian Government: Grains Research and Development CororationGRDC Annual Report 2005-2006

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Schedule of commitments

As at 30 June 2006

2006 2005
$'000 $'000
BY TYPE
Capital Commitments
Investments in shares 3,133 6,266
Total capital commitments 3,133 6,266
Other Commitments
Operating leases 162 146
Research projects forward program 136,205 162,674
Total other commitments 136,367 162,820
Commitments Receivable (12,397) (14,802)
Net Commitments by type 127,103 154,284
BY MATURITY
Capital Commitments
One year or less 3,133 3,133
One year to five years - 3,133
Total capital commitments 3,133 6,266
Research Project Commitments
One year or less 80,984 80,321
From one to five years 55,221 82,353
Over five years - -
Research Projects commitments 136,205 162,674
Operating Lease Commitments
One year or less 75 92
One year to five years 87 54
Over five years - -
Total operating Lease commitments 162 146
Commitments Receivable (12,397) (14,802)
Net Commitments by maturity 127,103 154,284

NB: Commitments are GST inclusive where relevant.

Capital commitments are GRDCs commitment to purchase shares in Australian Grain Technologies Pty Ltd and to invest in research in the Australian Centre for Plant Functional Genomics Pty Ltd (ACPFG) in return for shares.

Operating leases comprise:
Nature of the lease General description of leasing arrangement
Motor vehicles - staff

Leased as part of salary packages

No contingent rentals exist

Photocopiers and fax machines Photocopiers and fax machines have rental agreements for a period of 5 years, after this time they are usually replaced with new rental equipment

Research project forward program commitments are amounts payable in respect of contracted Research Agreements held between the GRDC and research providers as at 30 June 2006.

The Schedule of Commitments is to be read in conjunction with the notes to and forming part of the financial statements.

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