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Annual Reports
- Annual Report 2021 - 2022
- Annual Report 2020 - 2021
- Annual Report 2019 - 2020
- Annual Report 2018 - 2019
- Annual Report 2017 - 2018
- Annual Report 2016 - 2017
- Annual Report 2015 - 2016
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Annual Report 2013 - 2014
- Letter of Transmittal
- Section 1: Strategic Overview
- Section 2: Programme Reporting and Performance Summaries
- Section 3: Report of Operations
- Section 4: Corporate Governance and Accountability
- Section 5: Financial Statements
- Section 6: Appendices
- Section 7: Compliances Indexes
- Section 8: Glossary and Indexes
- Index
- Annual Report 2014 - 2015
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Annual Report 2012 - 2013
- Letter of Transmittal
- Section 1: Strategic Overview
- Section 2: Program Reporting and Performance Summaries
- Section 3: Report of Operations
- Section 4: Corporate governance and accountability
- Section 5: Financial Statements
- Section 6: Appendices
- Section 7: Compliance Indexes
- Section 8: Glossary and Indexes
- Index
- Annual Report 2011 - 2012
- Annual Report 2010 - 2011
- Accountability and Reporting
- TSRA News & Media
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Annual Reports
TORRES STRAIT REGIONAL AUTHORITY
Notes to and forming part of the financial statements for the period ended 30 June 2014
Note 11: Contingent Assets and Liabilities
The movement is due to the change in accounting treatment which requires all non-reciprocal transfers to be recognised as income when control arises over the assets.
Bank Guarantees | Total | |||
2014 $'000 |
2013 $'000 | 2014 $'000 |
2013 $'000 | |
Contingent liabilities | ||||
Balance from previous period | - | - | - | - |
New contingent liabilities recognised | 116 | - | 116 | - |
Total contingent liabilities | 116 | - | 116 | - |
Quantifiable Contingencies
The schedule of contingencies reports no contingent assets (2012-13 : Nil).
The schedule reports a contingent liability as at 30 June 2014 in respect of a bank guarantee in favour of the Torres Shire Council. As a result the TSRA has recognised the contingent liability of $116,000 as at 30 June 2014 (2012-13 : $Nil).
Unquantiflable Contingencies
There are no unquantiflable contingencies as at 30 June 2014 (2012-13: Nil).
Significant Remote Contingencies
There are no significant remote contingencies as at 30 June 2014 (2012-13: Nil).