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The department leases premises on the third and fifth floors of the Reserve Bank Building, Wellington (see Note 5).
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 contracts for photocopying and garden maintenance services.
| 30.06.06 | 30.06.07 | |
|---|---|---|
Actual $000 |
Actual $000 |
|
| Operating commitments | ||
| 1,261 | Accommodation leases | 887 |
| 1,044 | Other operating commitments | 110 |
| 2,305 | Total commitments | 997 |
| Term classification for operating commitments | ||
| 935 | Less than one year | 473 |
| 622 | One to two years | 219 |
| 748 | Two to five years | 305 |
| 2,305 | Total commitments | 997 |
The accompanying accounting policies and notes form part of and are to be read in conjunction with these statements.