Page 58 - RCPA Annual Report 2016-17

56
Notes to the Financial Statements
THE ROYAL COLLEGE OF PATHOLOGISTS OF AUSTRALASIA
15.
Capital and Lease Commitments
(a) Finance Lease Commitments Payable:
- Not later than one year
- Later than one year but not later than five years Minimum lease payments
Less future finance charges
Total lease liability
ABN 52 000 173 231
NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2017
2017 2016 $$
18,712 38,982 57,694
- 57,694
6,237 70,168 76,405
- 76,405
The finance lease on office plant and equipment, which commenced in September 2015, is a 5-year lease. The lease payments are paid monthly in advance. The security for this lease is the asset being leased under this arrangement.
(b) Operating Lease Commitments Payable:
The College has operating lease commitments payable as at 30 June 2017 of $6,760 (2016: $3,456).
- No later than one year
- Later than two years but no later than five years
6,760 3,456 - -
6,760 3,456 The College has no commitments for capital expenditure at the date of this report.
Total operating lease commitments
16.
RCPA Foundation for Education and Research
Opening balance
Donations received
Investment income
Grants awarded
Contribution to the Alan Ng Education Centre
Expenses (11,194) Total income/(loss) for the year
(c) Capital Expenditure
1,355,199
1,382,183
140,181 27,880 (118,500) (65,814) (10,731) (26,984)
1,355,199
119,918 1,235,281 1,355,199
196,947 47,107 (90,805) -
Closing balance
Represented by;
Cash at bank
Managed investments – Cash management Total fund
142,055 1,497,254
256,935 1,240,319 1,497,254
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ANNUAL REPORT • 2016 - 2017