✨ Financial Notes
2366 NEW ZEALAND GAZETTE No. 98
NOTE 6. LONG TERM LIABILITIES
At 31 March 1999 the following debt was owing under a debenture to the Invercargill City Council.
| Loan | Interest Rate % | Amount Payable $ | Amount Due $ | Current Maturity Date | Final Sanction Date |
|---|---|---|---|---|---|
| Renewal 109 | 5.95 | 500,000 | 500,000 | 01/04/1999 | 01/04/1999 |
Total due for year to 31/03/2000
TOTAL TERM DEBT (Secured by all assets)
$ 500,000
NOTE 7. RESERVES
| 1999 $ | |
|---|---|
| Adverse Event Reserve | 500,000 |
| Capital Reserve | 47,491 |
| Revaluation Reserve | 15,215,890 |
| TOTAL | $15,763,381 |
NOTE 8. DIVIDEND
A notional Dividend of $1,750,000 is included to reflect the anticipated position at 31 March, 1999. As the Company's financial year ends on 30 June, no decision will be made on the payment of a dividend until after the final position is known. In 1998 the estimated dividend of $1,500,000 was subsequently increased to $1,600,000. Comparative figures have not been altered.
NOTE 9. COMMITMENTS
| 1999 $ | 1998 $ | |
|---|---|---|
| GIS Mapping System | 30,309 | 13,802 |
Operating Lease Commitments at 31 March
| 1999 $ | 1998 $ | |
|---|---|---|
| Less than one year | 29,000 | 27,000 |
| Greater than one year but not more than two years | 25,000 | 18,000 |
| Greater than two years but not more than three years | 29,000 | 34,000 |
| Total | $83,000 | $79,000 |
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VUW Te Waharoa —
NZ Gazette 1999, No 98
NZLII —
NZ Gazette 1999, No 98
✨ LLM interpretation of page content
💰 Long Term Liabilities
💰 Finance & RevenueDebt, Debenture, Invercargill City Council, Loan, Interest Rate
💰 Reserves
💰 Finance & RevenueReserves, Adverse Event, Capital, Revaluation
💰 Dividend
💰 Finance & RevenueDividend, Financial Year, Estimated Dividend
💰 Commitments
💰 Finance & RevenueCommitments, GIS Mapping System, Operating Lease