67 / 96
63
4 EXPENSES
Consolidated
Note
2016
$'000
2015
$'000
Expenses, excluding finance costs, included in the
statement of comprehensive revenue and expense
Employee Benefits
20,207
19,864
Repairs and maintenance
4,680
5,116
Depreciation
16
4,804
4,978
Food expenses (hotels)
3,004
2,881
Consultancy fees
2,735
2,850
Land Cost
-
2,389
Advertising and marketing
1,752
2,334
Rates
2,304
2,049
Management fees (hotels)
242
2,009
Electricity
1,630
1,601
Director and trustee fees
13
1,177
1,129
Operating leases
325
323
Amortisation
15
315
227
Impairment/(impairment reversal)
(30)
185
Other fees paid to auditor
293
174
Audit fees paid to Trust auditors
271
164
Bad Debt Written Off
107
37
Audit fees paid to other auditors
-
25
Doubtful debts and movement in provision
87
(106)
Other expenses
10,716
9,728
54,619
57,957
Other fees paid to the auditor consists of advisory, treasury and taxation services for the Trust.
Recognition and measurement
Employee benefits
Liabilities are recognised for benefits accruing to employees in respect of wages and salaries, annual leave, and sick leave where
it is probable that settlement will be required and they are capable of being measured reliably.
Liabilities in respect of employee benefits expected to be settled within 12 months, are measured at the amount expected to be paid.
The Trust recognises a liability and an expense for bonuses based on a formula that takes into consideration the achievements
of agreed key performance indicators, including the achievement of financial budget targets. The Economic entity recognises a
provision where contractually obliged or where there is a past practice that has created a constructive obligation.