www.
waikatoriver
.org.nz
Other
Total
Loans and amortised carrying
Fair
receivables
cost
amount
value
Note
2012
2012
2012
2012
Financial assets
Trade and other receivables 9 12,384
-
12,384
12,384
Cash and cash equivalents 8 28,750
-
28,750
28,750
Other financial assets
10 764,883
-
764,883
764,883
Total current financial assets
806,017
-
806,017
806,017
Total financial assets
806,017
-
806,017
806,017
Financial liabilities
Trade and other payables 12
-
27,844
27,844
27,844
Total current
financial liabilities
-
27,844
27,844 27,844
Total financial liabilities
-
27,844
27,844
27,844
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:
2013
2012
Not later than one year
3,974
3,663
Later than one year and not later than five years
8,942
2,746
Later than five years
-
-
12,916
6,409
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 (2012 $Nil).
Leases can be renewed at the Authority’s option, with rents set by reference to
current market rates for items of equivalent age and condition. The Authority does
not have the option to purchase the asset at the end of the lease term.
There are no restrictions placed on Waikato River Authority by any of the leasing
arrangement.
16 Capital commitments
As at 30 June 2013, the Authority had no capital commitments (2012: Nil).
Waikato River Authority
Annual Report
2012
23
