Building for a brighter future - GHA Central

Financial: Financial Results
Notes to and forming part of the Financial Statements for the year ended 30 June 2006
Note 17: Contingent Assets & Liabilities
The Board of Management is unaware of any material contingent assets and liabilities as at 30 June 2006.
Note 18: Superannuation
Superannuation contributions for the reporting period are included as part of employee benefits and associated costs
in the Operating Statement of the Group.
The name and details of the major employee superannuation funds and contributions made by the Group are as follows:
Contributions paid for the year Contributions outstanding for the year
2006 2005 2006 2005
($’000) ($’000) ($’000) ($’000)
FUND
Health Super Fund 2,941 2790 198 184
HESTA 7237 7 4
Other 6 2
TOTAL 3,019 2,756 207 268
The bases for contributions are determined by the various schemes.
The unfunded superannuation liaibility in respect to members of Health Super Scheme is not recognised in the Balance
Sheet. West Gippsland Healthcare Group’s total unfunded superannuation liability in relation to these funds has been
assumed by and is reflected in the financial statements of the Department of Treasury and Finance.
The above amounts were measured as at 30 June of each year or, in the case of employer contributions, they relate
to the years ended 30 June.
Members of the Health Super Scheme are entitled to benefits on retirement, disability or death from the Government
Employees Super Fund. This Fund provides defined lump sum benefits based on years of service and annual average
salary.
65