australian swimming 93rd annual report 2001/2002

Notes to the Financial Statements For the Year Ended 30 June 2002
NOTE 13 R leasing commitments
a Operating Lease Commitments:
Being for rent of computers
Payable:
53
2002 2001
$ $
— not later than 1 year 22,453 43,726
— later than 1 year but not later than 5 years 16,341 37,051
Computers are held under operating leases. The lease are cancellable at any stage by either party and
all rights to the asset are maintained by the lessor
NOTE 14 R contingent liabilities
38,794 80,777
2002 2001
$ $
Estimates of the maximum amount of contingent liabilities that may become payable: 0 0
At the date there is a claim for damages being made against Australian Swimming Inc. It is anticipated that the
insurance policies will cover any costs for legal action and/or damages.
NOTE 15 R events subsequent to reporting date
At this stage, to the incorporations knowledge, there are no material events subsequent to the reporting date.
NOTE 16 R related parties
Since the end of the previous financial year no Director has received, or become entitled to receive,
any benefit by reason of a contract with Australian Swimming Inc. other than:
a The Grants to ASCTA by Board decision involve Ronald McKeon and David Urquhart being Directors of
that Association.
b Ronald McKeon received a grant of $825 including GST in consequence of his selection as a member
of the Oceania Team
c David Urquhart received benefits totalling $14,721.59 being payment for the following:
2001/02 Talented Coach Program $3,300.00
2002/03 High Performance Funding $6,600.00
Goodwill Games Prize Money $1,824.09
Grand Prix Prize Money $247.50
World Short Course Team Member $2,750.00
During the year, $250,073.00 was paid to the Australian Swimming Foundation.