Printed from https://fyi.org.nz./request/6625-reporting-of-provision-for-financial-guarantees-in-annual-report-2015-16 on November 16, 2024 05:28

Reporting of Provision for Financial Guarantees in Annual Report 2015/16

Michael Osborne made this Official Information request to Masterton District Council

The request was successful.

From: Michael Osborne

Dear Masterton District Council,

In the Masterton District Council Annual Report 2015/16 on page 140 is the reporting of Provision for Financial Guarantees and the first section is NZ Local Government Funding Agency. The report states, "At 30 June 2016, NZLGFA had lent $6.22 billion (2015: $4.955 billion). Financial reporting standards require Masterton District Council to recognise the guarantee liability at fair value. However, the Council has been unable to determine a sufficiently reliable fair value for the guarantee and therefore has not recognised a liability."

1. When was the "the guarantee liability at fair value" for NZLGFA last reported/recognised (in accordance with Financial Reporting Standards) and what was the fair value at that time?
2. Please supply all relevant documentation (emails, documents, whiteboard printouts, reports, spreadsheets etc and any other formats) pertaining to the process of and the determination of fair value of the guarantee liability for NZLGFA in the Annual Report 2015/16.

Yours faithfully,
Michael B Osborne

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From: Ruth Cox
Masterton District Council

Good afternoon Michael

Thank you for your email dated 2nd October requesting information under the Official Information Act 1982 relating to reporting of Provision for Financial Guarantees.

The information you request will be compiled and we will respond to you as soon as practicable but within 20 working days after the day on which your request was received, as allowed under s15 of the Act.

Kind regards

Ruth Cox
Administration Manager|  Masterton District Council 

161 Queen Street, Masterton 5810 |    [email address]
Ph: (06) 3706304 | #mymasterton

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From: Danielle Armstrong
Masterton District Council

Attachment Letter of response.pdf
876K Download View as HTML

Attachment IMPORTANT FW NZLGFA guarantee liability financial statements note disclosure.pdf
663K Download View as HTML

Attachment R009 NZLGFA Guarantee valuation methodology DRAFT.pdf
153K Download View as HTML

Good afternoon Michael

 

Please see attached your OIA response regarding reporting of provisions
for financial guarantees in the Annual Report 2016/17.

 

Kind regards

 

Danielle Armstrong
Danielle Armstrong  | Executive Assistant to the Chief Executive  | 
Masterton District Council | #mymasterton
Level 1, Public Trust Building, Perry Street, Masterton 5810  | ( +64 6
3706283 | ( +64 27 807 0304  | * [1][email address]

 

 

 

 

 

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From: Michael Osborne

Dear Danielle Armstrong,

Thank you for your response which I am reviewing.
However I am unable to read the document - IMPORTANT FW NZLGFA guarantee liability financial statements note disclosure.pdf - please submit that one again in a readable format.

Yours sincerely,

Michael Osborne

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From: Danielle Armstrong
Masterton District Council

Attachment 2017 11 01 NZLGFA guarantee liability financial statements note disclosure.pdf
816K Download View as HTML

Good morning Michael

PDF version attached.

Kind regards

Danielle Armstrong
Danielle Armstrong  | Executive Assistant to the Chief Executive  |  Masterton District Council | #mymasterton

Level 1, Public Trust Building, Perry Street, Masterton 5810  | +64 6 3706283 | +64 27 807 0304  | [email address]

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