Part 4: Financial statements (continued)

Schedule of commitments

Schedule of commitments
as at 30 June 2012
	2012 $'000	2011 $'000
BY TYPE
Commitments payable
Capital commitments
Land and buildings¹	1,057	-
Plant and equipment²	588	-
Intangibles³	108	1,905
Total capital commitments	1,753	1,905

Other commitments
Operating leases⁴	29,489	36,186
Other⁵	11,859	7,428
Total other commitments	41,348	43,614
Total commitments payable	43,101	45,519

Commitments receivable
GST receivable⁶	(3,700)	(4,038)
Total commitments receivable	(3,700)	(4,038)
NET COMMITMENTS BY TYPE	39,401	41,481

BY MATURITY
Commitments payable
Capital commitments
One year or less	1,744	1,893
From one to five years	9	12
Total capital commitments	1,753	1,905

Operating lease commitments
One year or less	8,528	8,267
From one to five years	20,961	27,919
Total operating lease commitments	29,489	36,186

Other commitments
One year or less	8,359	4,559
From one to five years	3,500	2,869
Total other commitments	11,859	7,428
Total commitments payable	43,101	45,519

Commitments receivable
One year or less	(1,585)	(1,276)
From one to five years	(2,115)	(2,762)
Total commitments receivable	(3,700)	(4,038)
NET COMMITMENTS BY MATURITY	39,401	41,481

1. Land and buildings commitments relate to ongoing capital works.
2. Plant and equipment commitments primarily relate to office equipment and computers.
3. Intangible commitments relate to developed software.
4. Operating lease commitments relate to leases for office accommodation.
5. Other commitments primarily relate to contracts for operational expenses and consultants.
6. Commitments are GST inclusive where relevant.
This schedule should be read in conjunction with the accompanying notes.

Schedule of commitments (continued)
as at 30 June 2012

Operating leases included are effectively non-cancellable and comprise of:

Nature of lease	General description of leasing arrangement
Leases for accommodation	Commercial — leases comprise of various periods, including both initial and options periods. Overseas estate — some commercial lease payments are adjusted annually by two per cent and residential lease payments are reviewed bi-annually to reflect market movements. The initial periods of office accommodation leases are still current and each may be renewed with options for a further three or five years.
Agreements for the provision of motor vehicles to Senior Executive Officers	No contingent rentals exist. No renewal or purchase options are available to the Treasury.
Leases for computer equipment and office equipment	The lessor provides all computer equipment designated as necessary in the supply contract for three years with an option to extend the term for a fixed period as agreed by both parties. The lessor provides all photocopier equipment designated as necessary in the supply contract for four years with an option to extend the term for a fixed period as agreed by both parties.

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