Written Question · S1W-29170 · Session 1
Further to the answer to question S1O-5476 by Mr Andy Kerr on 5 September 2002, whether it will list all contingent liabilities it has ente…
The question
To ask the Scottish Executive, further to the answer to question S1O-5476 by Mr Andy Kerr on 5 September 2002, whether it will list all contingent liabilities it has entered into, detailing the amount of each liability and indicating whether these liabilities are shown on its financial balance sheets or budgets and, if so, where.
The answer
The audited annual consolidated resource accounts of the Scottish Executive provie details on quantifiable contingent liabilities. The accounts for the financial year ended 31 March 2001 were laid before the Scottish Parliament by the Scottish ministers in February 2002 (these accounts are available on the Scottish Executive website at: http://www.scotland.gov.uk/library3/finance/ConsolidatedAccounts.pdf. Note 20 provides details of contingent liabilities, though not at the level of detail requested. The table accordingly provides the necessary detail:Description | Amount(£ million)
Indemnity cover to owners of objects lent under the National Heritage Act 1980 and the National Heritage (Scotland) Act 1985 | 822.5
Housing Act guarantees | 4.2
NHS overdraft guarantees | 2.5
Local Government Act
- overdraft guarantees for Water Authorities | 25.0
Indemnity on St. Andrew's bus station title | 1.5
Northern Isles Ferry service tendering exercise | 27.0
Sub total | 882.7
Legal claims in relation to alleged medical or third party negligence against NHS bodies within the Scottish Executive departmental accounting boundary | 33.0
Total | 915.7
The annual accounts for the financial year 31 March 2002 will contain the equivalent information for that financial year. These amounts are not included within the Scottish Executive Balance Sheet: since the liabilities are, by definition, contingent they do not meet the definition of liabilities to be reflected on balance sheet. This accounting treatment is in accordance with Financial Reporting Standard 12 as applied to the Scottish Executive by the Resource Accounting Manual.
Indemnity cover to owners of objects lent under the National Heritage Act 1980 and the National Heritage (Scotland) Act 1985 | 822.5
Housing Act guarantees | 4.2
NHS overdraft guarantees | 2.5
Local Government Act
- overdraft guarantees for Water Authorities | 25.0
Indemnity on St. Andrew's bus station title | 1.5
Northern Isles Ferry service tendering exercise | 27.0
Sub total | 882.7
Legal claims in relation to alleged medical or third party negligence against NHS bodies within the Scottish Executive departmental accounting boundary | 33.0
Total | 915.7
The annual accounts for the financial year 31 March 2002 will contain the equivalent information for that financial year. These amounts are not included within the Scottish Executive Balance Sheet: since the liabilities are, by definition, contingent they do not meet the definition of liabilities to be reflected on balance sheet. This accounting treatment is in accordance with Financial Reporting Standard 12 as applied to the Scottish Executive by the Resource Accounting Manual.
In the Official Report
No contribution in the Official Report cites S1W-29170 by reference.