18. Contingent Liabilities
2016
$ 2015
$
191,291 191,291
Bank Guarantee 31 January 1995 to Sydney City Council 5,000 5,000
Bank Guarantee 21 January 2014 to Central Coast
Regional Development Corporation 4,796 4,796
15,400 15,400
Bank Guarantee 8 September 2016 to Clearview Holdings Pty Ltd 2,930 -
Bank Guarantee 8 September 2016 to R N & K M REIMIERS 9,350 -
Bank Guarantee 12 September 2016 to Abalon Properties Pty Ltd 7,400 -
Bank Guarantee 12 September 2016 to Kearley Investments Pty Ltd 9,900 -
Bank Guarantee 12 September 2016 to Clearview Holdings Pty Ltd 12,696 -
258,763 216,487
Bank Guarantee 22 October 1998 to Commonwealth
Bank Guarantee 30 April 2015 to Marrickville Council
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 31 December 2016.
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. Related Party Disclosures
a) Directors’ compensation
The Directors act in an honorary capacity and recei ve no compensation for their services (2015: 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. If a Director utilises the services of KU Children’s Services they pay the arms length
market rates for provision of these services.
c) Key Management Personnel Remuneration
The aggregate compensation of the key executive management personnel of the Company is set out below:
Total compensation
1,775,442
1,674,055
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