Note 13: Provisions
Actual 2011/12 |
Actual 2012/13 |
|
$000 | $000 | |
59 | Onerous contracts | - |
150 | Lease make good | - |
209 | Total provisions | - |
Onerous contracts $000 |
Lease make good $000 |
Total $000 |
|
Balance at 1 July 2011 | - | - | - |
Additional provisions made | 59 | 150 | 209 |
Amounts used | - | - | - |
Balance at 30 June 2012 | 59 | 150 | 209 |
Balance at 1 July 2012 | 59 | 150 | 209 |
Additional provisions made | - | - | - |
Amounts used | (59) | (138) | (197) |
Unused amounts reversed | - | (12) | (12) |
Balance at 30 June 2013 | - | - | - |
Onerous contracts
The provision for onerous contracts arose from a non-cancellable lease where the unavoidable cost of meeting our remaining obligations under the lease contract exceeded the economic benefits to be received from it. The Office vacated its Audit New Zealand Wellington premises at the beginning of May 2013, when the OAG and Audit New Zealand Wellington offices moved into one location. The Audit New Zealand Wellington office lease expired on 30 June 2013.
Lease make good
In respect of one of its leased premises, the Office was required at the expiry of the lease term to make good any alterations or damage to the premises.
page top