60 TE PŪRONGO 2013
Group
Group Parent
Parent
2013
2012
2013 2012
$’000
$’000
$’000 $’000
Cash at bank and in hand
3,034
3,376
1,924 2,703
Term deposits with maturities less than 3 months
-
2,000
-
2,000
Total cash and cash equivalents
3,034 5,376
1,924 4,703
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 4.65% (2012 - 3.86%).
There were no cash or cash equivalent balances held at 31 December 2013 that were not available for use by the group.
Group Group Parent
Parent
2013
2012
2013 2012
$’000 $’000
$’000 $’000
Fees to auditor
Fees to Audit New Zealand for audit of financial statements
289
296
195
197
Fees to Audit New Zealand for prior year audit fees
-
36
-
-
Management fees
1,296
1,584
-
-
Administration
14,430 14,159 10,916 10,744
Impairment of receivables (note 6)
(33)
13
(33)
13
Bad debts written off
128
156
128
156
Koha
279
336
262
332
Satellite payments
1,900
1,902
1,900 1,902
Intercompany expenses
Payments to Open Wānanga Limited
-
-
24,031 24,963
Payments to Aotearoa Scholarship Trust
-
-
5
66
Small capital purchases
1,716
2,595
1,493 2,347
Consultancy fees
4,279
4,532
2,987 3,291
Inventories consumed
2,298
2,164
2,298 2,164
Tauira resources
10,075
8,627
8,162 7,156
Travel
1,966
1,711
1,964 1,711
Occupancy expenses
6,532
6,878
6,020 6,241
Rent
2,369
2,407
1,137 1,239
Minimum lease payments – operating lease
3,378
3,260
3,378 3,260
Impairment of property, plant & equipment & stock
205
777
205
777
Loss on sale of property, plant and equipment
34
3
-
3
Total other expenses
51,141 51,436 65,048 66,562
4. Other expenses
5. Cash and cash equivalents
Notes to the financial statements (continued)
