Annual Report 2010–2011, Part 2: Financial (1.8 ... - Tourism Victoria

Note 12. Commitments for expenditure
Grant commitments
Commitments for the payment of grants under contracts in existence at the reporting date but not recognised as liabilities and payable are:
2011 2010
$ $
Not longer than 1 year 18,794,749 18,545,106
Longer than 1 year and not longer than 5 years 33,613,663 38,238,048
52,408,412 56,783,154
Other commitments
Commitments for the payment of other expenditure under contracts in existence at the reporting date
but not recognised as liabilities and payable are:
2011 2010
$ $
Not longer than 1 year 4,979,461 6,676,133
Longer than 1 year and not longer than 5 years 656,121 412,718
5,635,582 7,088,851
Lease commitments
Finance lease liabilities and non-cancellable operating lease commitments are disclosed in Note 11 to the financial statements.
Note 13. Contingent liabilities and contingent assets
Contingent assets
There were no contingent assets at 30 June 2011 (2010: nil).
Contingent liabilities
There were no contingent liabilities at 30 June 2011 (2010: nil).
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