Statement of Contingent LiabilitiesAs at 31 December 2006
University Contingent Liabilities
A guarantee has been given to the Bank of New Zealand for a overdraft facility of $48,000 (2005-$48,000) on a continuing basis to the Campus Creche Trust.
The University has no active personal grievance claims taken against it by staff members. The liability the University may incur is estimated at Nil (2005-$20,000).
There are contingencies of $50,000 for building fitout subject to lease negotiations expected to be finalised in 2007.(2005-$100,000).
There are no other known contingent liabilities.
Consolidated Contingent Liabilities
Campus Services Limited would be liable to repay Sky City $1,000 if a contracted event does not take place and to repay Coca Cola Amatil $15,000 if their contract is cancelled.
For the subsidiaries and associates included in the consolidated financial statements there are no other contingent liabilities.