Statement of Commitments
As at 30 June 2015
2014 Actual $000 | 2015 Actual $000 | |
Capital commitments | ||
41,287 | Buildings | 60,328 |
2,000 | Computer hardware | – |
4,161 | Motor vehicles | 26 |
451 | Plant and equipment | 3,940 |
78,639 | Service concession asset | – |
3,616 | Intangibles | 5,739 |
130,154 | Total capital commitments | 70,033 |
Non-cancellable operating lease commitments | ||
12,037 | Less than one year | 14,092 |
37,847 | One to five years | 36,642 |
20,766 | More than five years | 20,265 |
70,650 | Total non-cancellable operating lease commitments | 70,999 |
200,804 | Total commitments | 141,032 |
Capital commitments
Capital commitments are the aggregate amount of capital expenditure contracted for the acquisition or construction of buildings, motor vehicles, plant and equipment, and intangible assets that have not been paid for or not recognised as a liability at balance date.
Non-cancellable operating lease commitments
The department leases premises at many locations throughout New Zealand.
Lease commitments include new lease arrangements for land under the Tongariro/Rangipo prison following the sale under treaty settlement on 30 June 2015. The prison and associated ancillary buildings were not part of the sale agreement and therefore remain owned by the department.
The annual lease rentals are subject to regular reviews, usually ranging from two years to three years. The amounts disclosed above as future commitments are based on current rental rates.
The accompanying notes form part of these financial statements.