The University of Waikato - Te Whare Wananga o WaikatoThe University of Waikato - Te Whare Wananga o Waikato

2006 Annual Report

   
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Notes to the Financial Statements 

Note 13: Related Party Transactions

The following related party transactions with WaikatoLink Limited, Campus Services Limited (CSL), The University of Waikato Foundation (Foundation), The Student Campus Building Fund Trust (SCBFT), LCo New Zealand Limited (LCoNZ) and The University of Waikato Alumni Association Incorporated (Alumni) occurred during the year:
  WaikatoLink
$
CSL
$
Foundation
$
SCBFT
$
LCoNZ
$
Alumni
$
Payments in 2006 to: 1,027,437 558,509 153,256 2,637 273,688 222,819
(2005) 693,750 597,516 148,498 2,540 35,048 175,715
 
Receipts in 2006 from: 120,961 663,974 87,039 310,462 - -
(2005) 338,025 341,532 810,499 562,135 76 -
 
Accounts Receivable at 31 December 2006 owing from: 1,688,907 8,836 88,507 - - 37,095
(2005) 250,000 29,249 83,346 - - 32,501
 
Accounts Payable at 31 December 2006 owing to: 73,547 23,311 5,668 867,544 8,807 -
(2005) 158,499 23,264 5,088 559,721 75,081 -

WaikatoLink Limited has an associate company, Ectus Limited, which was sold during 2005.

  This Year
$
Last Year
$
Total payments to Ectus Limited - 827,160
Total receipts from Ectus Limited - -
Accounts Receivable at 31 December from Ectus Limited - 28,482
Accounts Payable at 31 December to Ectus Limited - 38,147

During 2006 a payment was made to Cardax Limited (a division of the Gallagher group-of which the Chancellor is a stakeholder) for annual software maintenance on the after hours door access system. $3,872.61 (2005-$3,872.61)

The University enters into transactions with government departments and Crown agencies.

These are not separately disclosed because they are conducted on an arms length basis in the normal course of business.

The government influences the roles of the University as well as being a major source of revenue.



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