11 Provisions
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| Actual 30/6/07 $000 |
Actual 30/6/08 $000 |
|
|---|---|---|
| Current provisions are represented by: | ||
| 218 | Surplus leased accomodation | 108 |
| – | Potential work on Crown lands | – |
| 419 | Reinstatement provision | 454 |
| – | Other | – |
| 637 | Total current portion | 562 |
| Non-current provisions are represented by: | ||
| – | Surplus leased accomodation | – |
| – | Potential work on Crown lands | – |
| – | Reinstatement provision | – |
| – | Other | – |
| 0 | Total non-current portion | 0 |
| 637 | Total provisions | 562 |
| 2007 | Surplus leased accom. $000 |
Potential work on Crown lands $000 |
Reinstatement provision $000 |
Other $000 |
Total $000 |
|---|---|---|---|---|---|
| Balance at 1 July 2006 | 281 | – | – | – | 281 |
| Additional provisions made during the year | – | – | 419 | – | 419 |
| Charge against provision for the year | (63) | – | – | – | (63) |
| Unused amounts reversed during the year | – | – | – | – | – |
| Discounting changes | – | – | – | – | – |
| Provision for repayment of surplus to the Crown | – | – | – | – | – |
| Balance at 30 June 2007 | 218 | 0 | 419 | 0 | 637 |
| 2008 | |||||
| Balance at 1 July 2007 | 218 | – | 419 | – | 637 |
| Additional provisions made during the year | – | – | 34 | – | 34 |
| Charge against provision for the year | (109) | – | – | – | (109 |
| Unused amounts reversed during the year | – | – | – | – | – |
| Provision for repayment of surplus to the Crown | – | – | – | – | – |
| Balance at 30 June 2008 | (109) | 0 | 453 | 0 | 562 |
Surplus leased accommodation
The provision for surplus leased accommodation represents the Department's liability under lease agreements for surplus leased space. The provision is calculated on the net present value of the rental payable. The liability created is then amortised over the term of the lease, which will expire in 2010.
Reinstatement provision
The reinstatement provision represents the Department's estimated liability to reinstate leased accomodation to its original state at the expiry of the lease term. The provision is calculated on the net present value of the estimated liablity at lease expiry.
