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Schedule of Liabilities

as at 30 June 2011

The Schedule of Liabilities summarises the liabilities that the Department administers on behalf of the Crown.

Schedule of Liabilities
2010
Actual
$000
2011
Actual
$000
2011
Main Estimates
$000
2011
Supp. Estimates Voted
$000

Current Liabilities

 
3,463,000 Crown balances with Westpac 3,823,000 2,741,000 3,232,000
81,450 Payables and accrued expenses 683,516 9,849 601,461
10,140,000 Borrowings 19,784,000 20,931,000 18,274,000
150,485 Deferred revenue - current 45,584 98,047 45,941
648,704 Government Superannuation Fund unfunded liability 679,000 695,000 678,479
791,062 Guarantee scheme payable/provision 37,314 - 36,320
2,627 Insurance premiums received in advance 3,320 1,688 2,627
3,728 NPF Crown liability for scheme deficiency s72 1,500 - -
15,158 Rugby World Cup provision 6,437 21,799 15,158
15,296,214 Total Current Liabilities 25,063,671 24,498,383 22,885,986

Non-current Liabilities

 
42,385,000 Borrowings 54,896,000 46,231,000 53,936,000
80,357 Deferred revenue 80,357 30,000 80,000
2,366 Insurance premiums received in advance 9,197 17,666 10,562
9,287,946 Government Superannuation Fund unfunded liability 9,473,892 8,121,656 8,589,380
1,003,503 NPF DBP(A) Scheme unfunded provision 981,303 883,203 964,503
52,759,172 Total Non-current Liabilities 65,440,749 55,283,525 63,580,445
68,055,386 Total Non-departmental Liabilities 90,504,420 79,781,908 86,466,431

The Statement of Accounting Policies is an integral part of these supplementary financial schedules.

For a full understanding of the Crown's financial position and the result of its operations for the year, refer to the consolidated Financial Statements of the Government for the year ended 30 June 2011.

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