Page 49 University of Technology, Jamaica Notes to the Financial Statements 31 March 2020 (expressed in Jamaican dollars unless otherwise indicated) 28. Commitments Approval for capital expenditure commitments to be incurred over the next year for which no provision has been made in these financial statements is as follows: 2020 $’000 2019 $’000 Authorised and not contracted for 25,279 30,248 Authorised and contracted for 7,729 20,258 29. Contingent Liabilities The University is subject to various claims, disputes and legal proceedings. Provision is made for such matters when, in the opinion of management and its professional advisors, it is probable that a payment will be made by the University, and the amount can be reasonably estimated. In respect of the claims asserted against the University, which have not been provided for, management believes such claims are either without merit or can be successfully defended or will result in exposure to the University which is immaterial to both financial position and results of operations. University of Technology, Jamaica 165
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