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The department leases premises on the third and fifth floors of the Reserve Bank Building, Wellington.
The annual lease payments are subject to two-yearly and ten-yearly reviews. The amounts disclosed as
future commitments are based on the current rental rates. Other operating commitments include a contract
for photocopying services.
| 30.6.04 Actual $000 |
30.6.05 Actual $000 |
||
|---|---|---|---|
| Operating commitments | Accommodation leases | 1,488 | 1,663 |
| Other operating commitments | 1,211 | 1,194 | |
| Total commitments | 2,699 | 2,857 | |
| Term classification for operating commitments | Less than one year | 879 | 929 |
| One to two years | 665 | 809 | |
| Two to five years | 835 | 991 | |
| More than five years | 320 | 128 | |
| Total commitments | 2,699 | 2,857 |
The accompanying accounting policies and notes form part of and are to be read in conjunction with these statements.