Therapeutic Goods Administration Schedule of Commitments as at 30 June 2011

prev page | TOC | next page

By Type

	2011 $’000	2010 $’000
Commitments receivable
Net GST recoverable on commitments	(5,790)	(6,376)
Total commitments receivable	(5,790)	(6,376)
Commitments payable
Capital commitments
Property, plant and equipment1	924	277
Total capital commitments	924	277
Other commitments
Operating leases2	59,298	66,555
Other3	3,469	3,308
Total other commitments	62,767	69,863
Net commitments by type	57,901	63,764

By Maturity

	2011 $’000	2010 $’000
Other commitments receivable
One year or less	(1,276)	(1,201)
From one to five years	(3,586)	(3,520)
Over five years	(928)	(1,655)
Total other commitments receivable	(5,790)	(6,376)
Commitments payable
Capital commitments
One year or less	924	277
Total capital commitments	924	277
Operating lease commitments
One year or less	9,849	9,745
From one to five years	39,237	38,592
Over five years	10,212	18,218
Total operating lease commitments	59,298	66,555
Other commitments
One year or less	3,266	3,184
From one to five years	203	124
Total other commitments	3,469	3,308
Net commitments by maturity	57,901	63,764

Commitments are GST inclusive where relevant.

The above statement should be read in conjunction with the accompanying notes.

¹ Capital commitments for property, plant and equipment relate to office and cafe refurbishment.
² Operating leases are effectively non-cancellable and comprise leases for office accommodation. Lease payments for the Symonston lease are subject to annual adjustments for the Consumer Price Index or 3% (whichever is higher) with a Market Rent Review every third year. The initial terms of the office accommodation leases are still current and may be renewed after 15 years at the TGA’s option. Other office leases (smaller offices located in Fyshwick, Melbourne, Sydney, Brisbane and Adelaide) are subject to annual rent adjustments of between 3% and 5%, and can be renewed for terms of between 6 months and 2 years, at the TGA’s option.
³ Other commitments relate to contracts entered into by the TGA where no liability currently exists.

prev page | TOC | next page