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Financial
Statements
| AUSTRALIAN CUSTOMS SERVICE |
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| SCHEDULE OF CONTINGENCIES |
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| as at 30 June 2000 |
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Agency
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Administered
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1999-00
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1998-99
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1999-00
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1998-99
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$'000
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$'000
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$'000
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$'000
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| CONTINGENT LOSSES |
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| Claims for damages/costs |
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(460)
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(364)
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(4,323)
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-
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| Total contingent losses |
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(460)
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(364)
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(4,323)
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-
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| CONTINGENT GAINS |
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| Claims for damages/costs |
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110
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-
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5,454
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4,379
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| Total contingent gains |
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110
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-
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5,454
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4,379
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| Net contingencies |
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(350)
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(364)
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1,131
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4,379
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| SCHEDULE OF UNQUANTIFIABLE
CONTINGENCIES |
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| At 30 June 2000 Customs had a number of legal
claims lodged against it for damages and costs. Customs has denied
liability and is defending the claims. In addition, Customs has lodged a
number of claims to recover damages and costs which are also being
defended. It is not possible to estimate the amounts of any eventual
payments or receipts in relation to these claims. |
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| Further, Customs has an obligation to acquire
equipment from EDS on termination or expiry of the IT outsourcing lease.
It is not possible to estimate the amount of any eventual payment or
receipt in relation to this obligation due to the uncertainty of the
future market value of the leased equipment on hand. |
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| The above schedule should be read in
conjunction with the accompanying notes. |
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