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Part 4: Financial statements (continued)

Schedule of commitments

Schedule of commitments
as at 30 June 2013
  2013
$’000
2012
$’000
BY TYPE    
Commitments payable    
Capital commitments    
Land and buildings1 248 1,057
Plant and equipment2  – 588
Intangibles3 716 108
Total capital commitments 964 1,753
     
Other commitments    
Operating leases4 20,392 29,489
Other5 9,194 11,859
Total other commitments 29,586 41,348
Total commitments payable 30,550 43,101
     
Commitments receivable    
GST receivable6 (2,581) (3,700)
Total commitments receivable (2,581) (3,700)
NET COMMITMENTS BY TYPE 27,969 39,401
     
BY MATURITY    
Commitments payable    
Capital commitments    
One year or less 964 1,744
From one to five years  – 9
Total capital commitments 964 1,753
     
Operating lease commitments    
One year or less 7,259 8,528
From one to five years 13,034 20,961
Over five years 99  –
Total operating lease commitments 20,392 29,489
     
Other commitments    
One year or less 3,957 8,359
From one to five years 5,237 3,500
Total other commitments 9,194 11,859
Total commitments payable 30,550 43,101
     
Commitments receivable    
One year or less (1,082) (1,585)
From one to five years (1,499) (2,115)
Total commitments receivable (2,581) (3,700)
NET COMMITMENTS BY MATURITY 27,969 39,401

1. Land and buildings commitments relate to ongoing capital works.
2. Plant and equipment commitments primarily relate to office equipment and computers.
3. Intangible commitments relate to developed software.
4. Operating lease commitments relate to leases for office accommodation.
5. Other commitments primarily relate to contracts for operational expenses and consultants.
6. Commitments are GST inclusive where relevant.
This schedule should be read in conjunction with the accompanying notes.

Schedule of commitments (continued)
as at 30 June 2013

Operating leases included are effectively non-cancellable and comprise of:

Nature of lease General description of leasing arrangement
Leases for accommodation

Commercial — leases comprise of various periods, including both initial and options periods.
Overseas estate — some commercial lease payments are adjusted annually by two per cent and residential lease payments are reviewed bi annually to reflect market movements.
The initial periods of office accommodation leases are still current and each may be renewed with options for a further three or five years.

Agreements for the provision of motor vehicles to Senior Executive Officers

No contingent rentals exist.
No renewal or purchase options are available to the Treasury.

Leases for computer equipment and office equipment

The lessor provides all computer equipment designated as necessary in the supply contract for three years with an option to extend the term for a fixed period as agreed by both parties.
The lessor provides all photocopier equipment designated as necessary in the supply contract for four years with an option to extend the term for a fixed period as agreed by both parties.