Other
Total
Loans and amortised
carrying
Fair
receivables
cost
amount
value
Note
2011
2011
2011
2011
Financial assets
Trade and other receivables 9
19,521
-
19,521
19,521
Cash and cash equivalents 8
963,122
-
963,122 963,122
Total current financial assets
982,643
-
982,643 982,643
Total financial assets
982,643
-
982,643 982,643
Financial liabilities
Trade and other payables 12
- 126,627
126,627 126,627
Total current
financial liabilities
- 126,627
126,627 126,627
Total financial liabilities
- 126,627
126,627 126,627
14 Capital management
The Authority’s equity comprises retained earnings.
The Authority is not subject to any externally imposed capital requirements.
The Authority’s policies in respect of capital management and allocation are
reviewed regularly by the Board.
There have been no material changes in the Authority’s management of capital
during the period.
15 Operating leases
Leases as lessee
Non-cancellable operating lease rentals are payable as follows:
2012
2011
Not later than one year
3,663
3,663
Later than one year and not later than five years
2,746
6,409
Later than five years
-
-
6,409
10,072
The Authority leases a number of facilities under operating leases. The leases
typically run for a period of 3 years, with an option to renew the lease after that date.
Lease payments are increased periodically to reflect market rentals.
The total minimum future sublease payments expected to be received under non-
cancellable subleases at balance date is $nil (2011 $nil).
There are no restrictions placed on Waikato River Authority by any of the leasing
arrangement.
16 Capital commitments
As at 30 June 2012, the Authority had no capital commitments (2011: Nil).
Waikato River Authority Annual Report
2012
23