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Schedule of non-departmental contingent liabilities and contingent assets

Schedule of non-departmental contingent liabilities and contingent assets

as at 30 June 2014

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 2014 (2013: nil).

Contingent assets

The Ministry on behalf of the Crown has no contingent assets (2013: nil).

Schedule of non-departmental commitments

as at 30 June 2014

The Ministry on behalf of the Crown has no non-cancellable operating lease commitments (2013: nil).

Capital commitments

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

 

 

Actual

2013
$000

Actual
2014
$000

Capital commitments

 

 

Property, plant, and equipment

14,463

Total capital commitments

14,463

 

 

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 2014.


Updated on 23rd July 2015