Te pŪrongo 2012
Notes to the financial statements (continued)
4 Other Expenses
Group Group Parent Parent
2012 2011 2012 2011
$’000 $’000 $’000 $’000
Fees to principal auditor
Audit fees for financial statement audit
296
290
197
205
Audit fees for prior year
36
-
-
-
Management fees
1,584
2,301
-
-
Administration
13,859 13,839 10,627 11,270
Impairment of receivables
13
(116)
13
(116)
Bad debts written off
156
307
156
307
Koha
336
396
332
389
Satellite payments
1,902
2,396
1,902
2,396
Scholarships
105
131
-
-
Intercompany expenses
Payments to Open Wānanga Limited
-
- 24,963 24,397
Payments to Aotearoa Scholarship Trust
-
-
66
20
Small capital purchases
2,595
2,318
2,347
2,091
Consultancy fees
4,532
4,215
3,291
3,145
Inventories consumed
2,164
2,285
2,164
2,285
Tauira resources
8,627 10,623
7,156
8,177
Travel
1,711
1,920
1,711
1,915
Artwork lease
-
121
-
121
Occupancy expenses
6,878
6,268
6,241
5,722
Rent
2,407
2,041
1,239
1,401
Minimum lease payments – operating lease
3,260
4,154
3,260
4,154
Impairment of property, plant & equipment & stock
777
829
777
829
Loss on sale of property, plant and equipment
3
76
3
76
Make good provision
10b
195
-
117
-
Total other expenses
51,436
54,394
66,562
68,784
5 Cash and cash equivalents
Group Group Parent Parent
2012 2011 2012 2011
$’000 $’000 $’000 $’000
Cash at bank and in hand
3,376
5,123
2,703
4,191
Term deposits with maturities less than 3 months
2,000
6,723
2,000
5,000
Total cash and cash equivalents
5,376
11,846
4,703
9,191
The carrying value of cash at bank and term deposits with maturities less than three months
approximates their fair value.
The weighted average effective interest rate for term deposits is 3.86% (2011 - 4.01%).
There were no cash or cash equivalent balances held at 31 December 2012 that were not available for
use by the group.
88
