KU Financial Report
Notes to the Financial Statements
Continued...
17. Commitments for expenditure
Operating Leases
Leasing arrangements
Operating leases relate to centre facilities and to centre computer equipment. The company does not have
an option to purchase the leased assets at the expiry of the lease period.
Non-cancellable operating lease payments
2009
$
2008
$
Not longer than 1 year 647,639 505,796
Longer than 1 year and not longer than 5 years 966,202 872,271
6 15
1,613,847 1,378,082
Longer than 5 years
18. Contingent Liabilities
2009
$
Bank Guarantee 22 October 1998 to Commonwealth
Bank Guarantee 31 January 1995 to Sydney City Council
2008
$
191,291 191,291
5,000 5,000
196,291 196,291
19. Economic Dependency
As disclosed at note 5 a significant source of revenue is government funding. This funding supports programs
for early childhood education and care.
20. Segment Information
The company operated in one business segment, being the provision of early childhood education and care
services and in one geographical location being Australia.
21. Related Party Disclosures
There were no related party transactions.
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KU Children’s Services