CENTRAL DESERT REGIONAL COUNCIL NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 NOTE 14 – OPERATING LEASES LEASE PAYMENT COMMITMENTS OF COUNCIL Council has entered into non-cancellable operating leases for various items of computer and other plant and equipment. Contingent rental payments exist in relation to the lease of one grader if utilisation exceeds 250 hours during any month. No contingent rentals were paid during the current or previous reporting periods. No lease imposes any additional restrictions on Council in relation to additional debt or further leasing. Leases in relation to computer and office equipment permit Council, at expiry of the lease, to elect to re-lease, return or acquire the equipment leased. No lease contains any escalation clause. Commitments under non-cancellable operating leases that have not been recognised in the financial statements are as follows: 2017 $
2016 $
Not later than one year
252,352
49,487
Later than one year and not later than 5 years
442,754
438,562
–
–
695,106
488,049
Later than 5 years
NOTE 15 – RELATED PARTY DISCLOSURES KEY MANAGEMENT PERSONNEL The Key Management Personnel of the Council include the Mayor, Councillors, CEO and certain prescribed officers under section 112 of the Local Government Act 1999. In all, 16 persons were paid the following total compensation: 2017 $ Salaries, allowances & other short term benefits Post-employment benefits Long term benefits
1,165,333 83,784 8,297
Termination benefits TOTAL
– 1,257,414
Other than amounts paid as ratepayers or residents (e.g. rates, swimming pool entry fees, etc.), Council received the following amounts in total: Contributions for fringe benefits tax purposes
–
Planning and building applications fees
–
Rentals for Council property
–
TOTAL
–
PARTIES RELATED TO KEY MANAGEMENT PERSONNEL Seven close family members of key management personnel are employed by Council in accordance with the terms of the Award, and as recorded in the public Register of Salaries maintained in accordance with the Local Government Act.
Financial Statements • FS–31