The University of Waikato - Te Whare Wananga o WaikatoThe University of Waikato - Te Whare Wananga o Waikato

2008 Annual Report

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Notes to the Financial Statements 

Note 24: Contingent Liabilities

University Contingent Liabilities

A guarantee has been given to the Bank of New Zealand for an overdraft facility of $48,000 (2007 - $48,000) on a continuing basis to the Campus Creche Trust.

The University routinely monitors the financial performance of Campus Creche Trust.

The likelihood of the guarantee being called upon is estimated to be very low.

The University is involved in personal grievance claims taken against it by staff members. The liability the University may incur is estimated at $20,000 (2007 - $10,000).

There are also potential grievance claims that can't be quantified.

There are no other known contingent liabilities.

Share of Associate's Contingent Liabilities

U Leisure Limited would be liable to repay Coca Cola Amatil $4,000 if their contract is cancelled. The University's share of this liability is $2,000.

For the subsidiaries and associates included in the consolidated financial statements there are no other contingent liabilities.

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