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Schedule of commitments
As at 30 June 2007
| 2007 | 2006 | ||
|---|---|---|---|
| $'000 | $'000 | ||
| BY TYPE | |||
| Capital Commitments | |||
| Investments in shares | 1,021 | 3,133 | |
| Total capital commitments | 1,021 | 3,133 | |
| Other Commitments | |||
| Operating leases | 220 | 162 | |
| Research projects forward program | 120,739 | 136,205 | |
| Total other commitments | 120,959 | 136,367 | |
| Commitments Receivable | (10,996) | (12,397) | |
| Net Commitments by type | 110,984 | 127,103 | |
| BY MATURITY | |||
| Capital Commitments | |||
| One year or less | 1,021 | 3,133 | |
| One year to five years | - | - | |
| Total capital commitments | 1,021 | 3,133 | |
| Research Project Commitments | |||
| One year or less | 64,214 | 80,984 | |
| From one to five years | 56,525 | 55,221 | |
| Over five years | - | - | |
| Research Projects commitments | 120,739 | 136,205 | |
| Operating Lease Commitments | |||
| One year or less | 113 | 75 | |
| One year to five years | 107 | 87 | |
| Over five years | - | - | |
| Total operating Lease commitments | 220 | 162 | |
| Commitments Receivable | (10,996) | (12,397) | |
| Net Commitments by maturity | 110,984 | 127,103 | |
NB: Commitments are GST inclusive where relevant.
Capital commitments are GRDC's commitment to purchase shares in Arista Cereal Technologies Pty Ltd and Philom Bios (Australia) Pty Ltd.
| 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 2007.
The Schedule of Commitments is to be read in conjunction with the notes to and forming part of the financial statements.