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Schedule of non-departmental contingent liabilities and contingent assets as at 30 June 2016

Schedule of non-departmental contingent liabilities and contingent assets

as at 30 June 2016

Unquantifiable contingent liabilities

The Ministry, on behalf of the Crown, has no unquantifiable contingent liabilities at 30 June 2016 (2015: nil).

Quantifiable contingent liabilities

Claims have been made to the Ministry on behalf of the Crown, under the Public Works Act 1981, for compensation resulting from the acquisition of the easement taken under section 18 of the National War Memorial Park (Pukeahu) Empowering Act 2012, enabling part of the Park to be constructed on land owned by the claimants. Landscaping related to the Park has been undertaken on this land.

Section 18 of the National War Memorial Park (Pukeahu) Empowering Act 2012 entitles the landowners to compensation under the Public Works Act 1981 for the taking of this easement. The compensation claimed is $4.604 million. This amount is accruing interest and the total claim therefore expected is $6 million.

(2015: $4,604 million under the Public Works Act 1981 for compensation resulting from the acquisition of the easement taken under section 18 of the National War Memorial Park (Pukeahu) Empowering Act 2012 enabling part of the Park to be constructed on land owned by the claimants).

Contingent assets

The Ministry on behalf of the Crown has no contingent assets (2015: nil).

 

The accompanying notes form part of these financial statements.

For a full understanding of the Crown’s financial position and the results of its operations for the year, refer to the consolidated Financial Statements of the Government for the year ended 30 June 2015.

 

Schedule of non-departmental commitments

as at 30 June 2016

The Ministry, on behalf of the Crown, has no non-cancellable operating lease commitments (2015: nil).

Capital commitments

Capital commitments are the aggregate amount of capital expenditure contracted for the acquisition of property, plant, and equipment.

 

 

Actual

Actual

2015

2016

$000

$000

Capital commitments

 

 

Property, plant, and equipment

                    -

360

Total capital commitments

                     -

360

 

The accompanying notes form part of these financial statements.

For a full understanding of the Crown’s financial position and the results of its operations for the year, refer to the consolidated Financial Statements of the Government for the year ended 30 June 2016.

Statement of trust monies

for the year ended 30 June 2016

 

 

Opening balance 2015

Contributions

Distributions

Revenue

Expenditure

Closing balance 2016

$000

$000

$000

$000

$000

$000

New Zealand Historical Atlas

147

-

-

5

-

152

New Zealand History Research

970

-

(122)

32

-

880

New Zealand Oral History Awards

1,499

-

(134)

56

-

1,421

Dictionary of New Zealand Biography

14

-

-

1

-

15

War History

290

-

-

8

(199)

99

Total

2,920

-

(256)

102

(199)

2,567

 

New Zealand Historical Atlas Trust

This trust was established to hold New Zealand Lottery Grants Board funds, donations and royalties from sales, to be used for the production of the New Zealand Historical Atlas and subsidiary volumes. In 2016 the Trust earned $5,000 in royalties and interest (2015: $5,000).

New Zealand History Research Trust

This trust was established to hold New Zealand Lottery Grants Board funds to be used to make awards to individuals and groups for historical research and writing projects. In 2016 the Trust earned $32,000 in interest (2015: $39,000). During 2016, 11 awards were made for a total of $122,000 (2015: 10 awards: $138,000).

New Zealand Oral History Awards

This trust was established to hold funds from the Government of the Commonwealth of Australia, gifted to New Zealand in 1990 specifically to gather oral histories of importance to this country. The income from these funds is used to promote oral history in New Zealand. In 2016 the Trust earned $56,000 in interest (2015: $55,000). During 2016, 32 award payments were made for a total of $134,000 (2015: 21 awards; $77,000, two awards for a total of $9,000 were returned).

Dictionary of New Zealand Biography Trust

This trust was established to hold funds from the New Zealand Lottery Grants Board, sales of publications, and private sponsorship or fundraising for the production of the Dictionary of New Zealand Biography and subsidiary volumes. In 2016 the Trust earned $1,000 in interest (2015: $0).

War History Trust

This trust was established to hold funds bequeathed to the Ministry by the estate of Mr J B Watson, a long-time supporter of research into New Zealand’s military history. The funds and any interest income are to be used for the researching and writing of works on New Zealand’s involvement in overseas conflicts. In 2016 the trust earned $8,000 in interest (2015: $24,000).

 

The accompanying notes form part of these financial statements.

For a full understanding of the Crown’s financial position and the results of its operations for the year, refer to the consolidated Financial Statements of the Government for the year ended 30 June 2016.


Updated on 16th March 2017