Statement of Contingent Liabilities and Contingent Assets
as at 30 June
This statement discloses situations that exist at 30 June, the ultimate outcome of which is uncertain and will be confirmed only on the occurrence of one or more future events after 30 June.
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|
2008 Actual $000
|
2007 Actual $000
|
|
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Quantifiable Contingent Liabilities
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|
|
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Department
|
|
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| Employment related matters |
60 |
0 |
|
| Total contingent liabilities |
60 |
0 |
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Unquantifiable Contingent Liabilities
The Ministry has a number of contingent liabilities which cannot be quantified at 30 June 2008. These arise primarily from permit and allocation decisions.
Contingent Assets
The Ministry has no material contingent assets (2007 nil).
These financial statements should be read in conjunction with the statement of accounting policies on pages 52 to 57 and the notes to the financial statements on pages 64 to 77.