KU Financial Report
15. Fundraising Reserve
2016
$ 2015
$
1,204,164 1,233,992
Transfer from/(to) general funds 8,853 (29,828)
Balance at end of financial year 1,213,017 1,204,164
Balance at beginning of financial year
The fundraising reserve arises from the accumulated efforts of parents and staff to allow services to purchase optional toys and
equipment, to assist the service to expand and develop to meet local needs and to allow parents to share in the life of the service
and to make a concrete contribution to their children’s lives.
Further notes on fundraising are set out in Note 23.
16. Program Reserve
Balance at beginning of financial year
Transfer from general funds
Balance at end of financial year
1,065,000 1,015,000
52,000 50,000
1,117,000 1,065,000
The Program reserve relates to reserves set aside by the Company related to the Adult Migrant English Program (Navitas). This
reserve will be utilised for potential future commitments on this program which the Program owner is not contractually bound to
meet.
17. Commitments for Expenditure
Operating Leases
Leasing arrangements
Operating leases relate to centre facilities and computer leases. KU does not have an option to purchase the leased assets at the
expiry of the lease period.
Non-cancellable operating lease payments
Not longer than 1 year
Longer than 1 year and not longer than 5 years
Longer than 5 years
121st Annual Report 2016
1,069,771 1,436,374
916,470 1,789,156
62,816 80,728
2,049,057 3,306,258