Fitzroy Learning Network Annual Report - Page 13

Fitzroy Learning Network Inc. Annual Financial Report For the year ended 30 June 2016 Notes to the Financial Statements 2016 $ Note 9 Employee Benefits Current Annual leave Total Current Employee Benefits Non-Current Long service leave Total Non-current Employee Benefits Note 10 2015 $ 12,134 12,134 17,735 17,735 - - Deferred Income Funds received in advance 49,998 49,998 265,000 265,000 Deferred income consists of donations and income for specific purposes, the services for which have yet to be provided at balance date. Note 11 Operating Leases Leases as lessee Operating lease expenditure under contract or agreement is payable as follows: Rent Not later than one year Later than one year but no later than five years Note 12 40,380 109,852 150,232 39,204 150,232 189,436 5,000 5,000 5,000 5,000 Remuneration of Auditors Audit services Audit and review of financial report 11