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CHILD CARE RESOURCE CENTER, INC. (A NONPROFIT ORGANIZATION)
NOTES TO FINANCIAL STATEMENTS June 30, 2015
NOTE 9 – COMMITMENTS AND CONTINGENCIES
Leases
CCRC leases various equipment and facilities under non-cancelable operating lease agreements expiring at various dates through 2027. The future minimum lease payments required under these lease agreements at June 30, 2015 are as follows:
Years Ending June 30,
2016 $ 2017
2018
2019
2020 Thereafter
3,499,785 3,372,348 3,308,381 3,305,234 1,434,333
274,343
Total $ 15,194,424
Rental expense for facilities includes common area maintenance charges. Total rental expense for the years ended June 30, 2015 and 2014 was $ 3,598,383 and $3,426,811, respectively.
NOTE 10 – SUBSEQUENT EVENTS
Management has evaluated significant events or transactions that have occurred since the statement of financial position date and through December 14, 2015, which represents the date that the financial statements were available for issue. No events or transactions have occurred during this period that would require recognition or disclosure in the financial statements.
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