|Balance from previous period||1,433||-|
|Grant expenditure recoveries||17,862||1,433|
|Total contingent liabilities||19,295||1,433|
"The Schedule of Contingencies reports $19,295,000 of contingent liabilities disclosure in respect of grant expenditure recoveries (2013: $1,433,000)."
Grant expenditure recoveries
"In line with clauses 7.4 and 7.4A of the Health Funding Agreement, HWA must notify the Commonwealth of any funds it recovers on terminated or expired contracts. Upon receipt of the notice from HWA, the Commonwealth may by written notice require HWA to repay some or all of the recovered funds to the Commonwealth. HWA do not yet know whether they will be required to repay these amounts to the Commonwealth.
Where these recoveries related to grant payments made by HWA in the current year, they have been set-off against grant expenditure ($7.3m). Where they related to grant payments made (and expensed) in prior years, they have been recorded in other revenue ($7.5m). There was an additional $3m disclosed in the contingent liability note above that relates to grant recoveries recognised in the prior year but the funding agreements were only terminated in the current year.
These amounts have not been provided for in the financial statements."
Significant Remote Contingencies
The entity had no significant remote contingencies.