19. Contingent Liabilities
Bank Guarantee 22 October 1998 to Commonwealth
Bank Guarantee 31 January 1995 to Sydney City Council
2013
$
191,291
5,000
196,291
2012
$
191,291
5,000
196,291
Mortgage and facilities
The National Australia Bank currently holds a mortgage over 129 York Street, Sydney which is their security over the
$1.2m market rate facility. This remains undrawn as at 31st December 2013.
20. Economic Dependency
As disclosed at note 4 a significant source of revenue is government funding. This funding supports programs for
early childhood education and care.
21. Related Party Disclosures
a) Directors’ compensation
The Directors act in an honorary capacity and receive no compensation for their services (2012: nil).
b) Transactions with Director-related entities
During the year, no amounts were paid to Director-related parties. No amounts are payable to or receivable from
Directors or Director related entities at the reporting date. A Director utilises the services of KU Children’s Services
and pays the arms length market rates for provision of these services.
c) Key Management Personnel Remuneration
The names and positions of those having authority for planning, directing and controlling the company’s
activities, directly or indirectly (other than Directors), are:
Christine Legg Chief Executive Officer
Monique Beange General Manager, Early Childhood Education
Phillip Elbourne Chief Financial Officer / General Manager, Corporate Services
Kim Bertino General Manager, Professional Services & Learning
Poppy Brown General Manager, Community Programs
Karen Dawson General Manager, Public Affairs and Development
Jane Robinson General Manager, People Services
The aggregate compensation of the key executive management
personnel of the Company is set out below
Total compensation
1,230,001
1,395,428
43