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Schedule of non-departmental contingent liabilities and contingent assets as at 30 June 2013

Unquantifiable contingent liabilities

An unsolicited assessment from the New Zealand Fire Service Commission was received in September 2010. This related to fire service levies on arts exhibitions covered by the Government Indemnity of Touring Exhibitions scheme. This assessment is still being disputed by the Ministry.

Quantifiable contingent liabilities

The Ministry on behalf of the Crown has no contingent liabilities at 30 June 2013 (2012: one – this was under the Government Indemnity for Touring Exhibitions Scheme to a total level of $220 million. This indemnity finished on 7 July 2012, with no claim against the contingent liability).

Contingent assets

The Ministry on behalf of the Crown has no contingent assets (2012: nil).

Schedule of non-departmental commitments as at 30 June 2013

The Ministry on behalf of the Crown has no non-cancellable operating lease commitments (2012: nil).

The Ministry has no capital commitments. (2012: 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 2013.


Updated on 23rd July 2015