Dear Minister

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

Schedule of Commitments

for the year ended 30 June 2011

	Notes	Consol 2011 $,000	Consol 2010 $,000	ILC 2011 $,000	ILC 2010 $,000
By type
Commitments receivable
Goods and services tax		(6,784)	(978)	(3,761)	(978)
Total commitments receivable		(6,784)	(978)	(3,761)	(978)
Capital commitments
Other^1		32,304	721	32,304	721
Total capital commitments		32,304	721	32,304	721
Other commitments
Operating leases^2		40,522	10,038	9,076	10,038
Other^3		1,798	–	–	–
Total other commitments		42,320	10,038	9,076	10,038
Net commitments by type		67,840	9,781	37,619	9,781
By maturity
Goods and services tax receivable
One year or less		(3,279)	(349)	(3,071)	(349)
From one to five years		(1,324)	(324)	(463)	(324)
Over five years		(2,181)	(305)	(227)	(305)
Net goods and services tax receivable		(6,784)	(978)	(3,761)	(978)
Capital commitments
One year or less		32,304	721	32,304	721
Net capital commitments		32,304	721	32,304	721
Other commitments
One year or less		3,760	3,121	1,474	3,121
From one to five years		14,568	3,566	5,099	3,566
Over five years		23,992	3,351	2,503	3,351
Net other commitments		42,320	10,038	9,076	10,038

The amounts reported as at 30 June 2011 as commitments payable include the GST where relevant. Recoveries of GST in relation to commitments payable is included in commitments receivable.

¹ The capital commitments comprise:

• The Corporation has remaining commitments on two construction contracts. Practical completion on both projects are due in the next reporting period.

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

Schedule of Commitments

for the year ended 30 June 2011

² The operating leases commitments comprise:

• Leases for office accommodation relate to tenancy of the ILC in its Adelaide, Perth, Brisbane and Canberra offices. Voyages has a lease for its office accommodation in Sydney and a lease over the airport at Ayers Rock Resort. Lease payments are subject to annual increases in accordance with the lease contracts at either a fixed rate or to market. The initial periods of the leases are still current. The ILC has the option to renew for an additional term on expiry of the current term on five of the six leases. There are no purchase options available to the ILC.

• Agreements for the provision of motor vehicles to senior executives – no contingent rentals exist. There are no renewal or purchase options available to the Corporation.

• Leases and Grazing licences entered into by the ILC are for the purposes of running a commercial enterprise. The commitment equals the total consideration paid by the ILC over the term of the lease, being a cash payment, which is subject to an annual index adjustment, and an agreed amount of capital development to be undertaken by the Corporation. The initial periods of the licences are still current. The ILC has the option to renew for an additional term on expiry of the current term on four of the five licences. There are no purchase options available to the ILC.

³ The other commitments comprise:

• Voyages have entered into a non-cancellable contract for the provision of fire and emergency services at Ayers Rock Resort. The contract expires on 30 June 2015.

Schedule of Contingencies

for the year ended 30 June 2011

	Notes	Consol 2011 $,000	Consol 2010 $,000	ILC 2011 $,000	ILC 2010 $,000
Contingent liability
Guarantees	15, 16	–	63	400	63
Total contingent liabilities		–	63	400	63
Net contingent liabilities		–	63	400	63

Details of each class of contingent liabilities, including those not disclosed above because they cannot be quantified or considered remote, are shown in Note 15 and 16.

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

Schedule of Asset Additions

for the year ended 30 June 2011

Consolidated

The following non-financial non-current assets were added in 2010–11.

	Biological Assets	Inventory – property held for grant	Assets held in trust	Land	Commercial business assets	Administration assets	Intangible	Other	Total
					Building & Infrastructure Improvements	Plant and Equipment	Furniture & Fittings	Motor Vehicles	Office Equipment	Furniture & Fittings	Computer Systems	Leasehold Improvements
	$,000	$,000	$,000	$,000	$,000	$,000	$,000	$,000	$,000	$,000	$,000	$,000	$,000	$,000	$,000
By Purchase:
Government funding
Donated funds
Other	759	23,674	3,458	56,528	201,115	9,102	14,310	909	4	1	345	48	26,876	2,145	339,274
By finance lease:
Assets received as gifts/ donations
Total additions	759	23,674	3,458	56,528	201,115	9,102	14,310	909	4	1	345	48	26,876	2,145	339,274