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Budget 2016 Home Page The Supplementary Estimates of Appropriations and Supporting Information 2015/16

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APPROPRIATION MINISTER(S): Minister of Finance (M31), Minister for State Owned Enterprises (M65), Minister of Science and Innovation (M84), Minister supporting Greater Christchurch Regeneration (M85), Minister Responsible for HNZC (M90)

APPROPRIATION ADMINISTRATOR: The Treasury

RESPONSIBLE MINISTER FOR THE TREASURY: Minister of Finance

Details of Appropriations and Capital Injections

Annual and Permanent Appropriations

2015/16
Titles and Scopes of Appropriations by Appropriation TypeEstimates
Budget
$000
Supplementary
Estimates
Budget
$000
Total
Budget
$000

Departmental Output Expenses

Administration of Crown Borrowing, Securities, Derivative Transactions and Investment PLA (M31)

This appropriation is limited to expenses incurred in connection with administering borrowing, securities, derivative transactions and investment by the Crown, as authorised by section 65ZH of the Public Finance Act 1989.
8,9173809,297

Administration of Guarantees and Indemnities given by the Crown PLA (M31)

This appropriation is limited to expenses incurred in connection with administering of guarantees and indemnities given by the Crown, as authorised by section 65ZG of the Public Finance Act 1989.
3092311

Crown Company Monitoring Advice to the Minister for State-Owned Enterprises and Other Responsible Ministers (M65)

This appropriation is limited to the provision of ownership, performance monitoring and governance advice to the Minister for State-Owned Enterprises and other responsible Ministers in respect of the Ministers' shareholding responsibilities or as responsible Ministers for the New Zealand Lotteries Commission and Public Trust.
5,0982185,316

Crown Company Monitoring Advice to the Minister of Science and Innovation and the Minister for Economic Development (M84)

This appropriation is limited to the provision of ownership, performance monitoring, and governance advice to the Minister of Science and Innovation and other responsible Ministers in respect of the Ministers' shareholding responsibilities.
414(149)265

Policy Advice - Finance (M31)

This appropriation is limited to the provision of advice (including second opinion advice and contributions to policy advice led by other agencies) to support decision-making by Ministers on government policy matters relating to Finance.
33,0374633,083

Provision of Financial Operations Services and Operational Advice (M31)

This appropriation is limited to the provision of services which support the performance of the State sector, including fiscal reporting, forecasting and monitoring; provision of Export Credit; and the management, administration and monitoring of Crown Guarantee Schemes, Crown Lending, Crown Investments and Crown Bank Accounts.
28,8401,86930,709

Provision of Financial Services to the New Zealand Local Government Funding Agency RDA (M31)

This appropriation is limited to expenses incurred in connection with the provision of financial services on a commercial basis to the New Zealand Local Government Funding Agency (LGFA).
165(165)-

Shared Support Services (M31)

This appropriation is limited to provision of support services to other agencies.
10,4002,82113,221

Total Departmental Output Expenses

87,1805,02292,202

Departmental Capital Expenditure

The Treasury - Capital Expenditure PLA (M31)

This appropriation is limited to the purchase or development of assets by and for the use of the Treasury, as authorised by section 24(1) of the Public Finance Act 1989.
4,3091,9656,274

Total Departmental Capital Expenditure

4,3091,9656,274

Non-Departmental Output Expenses

Management of Anchor Projects by Otakaro Limited (M85)

This appropriation is limited to the Crown's contribution to Otakaro Limited's operating and financing expenses.
-7,4677,467

Management of the Crown's Obligations for Geothermal Wells (M31)

This appropriation is limited to the management and maintenance relating to geothermal wells and associated sites and structures for which the Crown accepts responsibility.
151316467

Management of the New Zealand Superannuation Fund (M31)

This appropriation is limited to managing the New Zealand Superannuation Fund on behalf of the Crown.
528100628

Total Non-Departmental Output Expenses

6797,8838,562

Non-Departmental Borrowing Expenses

Debt Servicing PLA (M31)

This appropriation is limited to the payment of borrowing expenses for the Crown's New Zealand-dollar and foreign-currency debt, authorised by section 60(1)b of the Public Finance Act 1989.
3,391,92032,5933,424,513

Total Non-Departmental Borrowing Expenses

3,391,92032,5933,424,513

Non-Departmental Other Expenses

Auckland Council Loans: Loss on Early Repayment (M31)

This appropriation is limited to the loss resulting from the early repayment of loans to Auckland Council.
-20,00020,000

Crown Residual Liabilities (M31)

Residual obligations arising from administration of the Crown's sale and purchase agreements with SOEs and Crown entities and from the sale of Crown investments, and for the settlement of claims against the Crown arising from exposure to asbestos.
602686

Geothermal Wells Fund (M31)

This appropriation is limited to meeting the costs of one-off unforeseen events relating to those geothermal wells for which the Crown accepts responsibility.
5001,0001,500

Government Inquiry into Foreign Trust Disclosure Rules (M31)

This appropriation is limited to the operation of the inquiry into foreign trust disclosure rules.
-150150

Government Superannuation Appeals Board (M31)

This appropriation is limited to the expenses of the Government Superannuation Appeals Board in performing its functions under the Government Superannuation Fund Act 1956.
50-50

Government Superannuation Fund Authority - Crown's Share of Expenses PLA (M31)

This appropriation is limited to the Crown's share of the expenses of the Government Superannuation Fund Authority relating to the management and administration of the Government Superannuation Fund and the schemes, authorised by sections 15E and 95 of the Government Superannuation Fund Act 1956.
33,0005,00038,000

Government Superannuation Fund Unfunded Liability PLA (M31)

This appropriation is limited to the net increase (excluding actuarial gains and losses) in the Crown's liability to the Government Superannuation Fund and the specified superannuation contribution withholding tax on employer contributions by the Crown, authorised by section 95AA of the Government Superannuation Fund Act 1956.
679,582(65,517)614,065

Impairment of Investment in Southern Response Earthquake Services Ltd (M31)

This appropriation is limited to the impairment of equity investment in Southern Response Earthquake Services Ltd.
-417,000417,000

National Provident Fund Schemes - Liability Under Crown Guarantee PLA (M31)

This appropriation is limited to the net increase (excluding actuarial gains and losses) in the Crown's liability for benefits payable to members of National Provident Fund schemes under the Crown guarantee in section 60 of the National Provident Fund Restructuring Act 1990. This appropriation is authorised by section 66 of the National Provident Fund Restructuring Act 1990.
36,000(9,000)27,000

Review and Reform of Local Government Infrastructure Arrangements (M31)

This appropriation is limited to the review and reform of disaster funding for local government infrastructure, including contributions to expenses of the Local Government Risk Agency.
1,0006251,625

Solid Energy New Zealand Limited - Payments for Environmental Rehabilitation PLA (M31)

This appropriation is limited to payments by the Crown under indemnity given to Solid Energy New Zealand Limited under section 65ZD of the Public Finance Act 1989, as authorised by section 65ZG of that Act.
-1,8511,851

Unclaimed Money PLA (M31)

This appropriation is limited to the repayment of money authorised by section 74(5) of the Public Finance Act 1989.
250-250

Unclaimed Trust Money PLA (M31)

This appropriation is limited to the repayment of money authorised by section 70(2) of the Public Finance Act 1989.
250-250

Unwind of Discount Rate Used in the Present Value Calculation of Payment for Shares in International Financial Institutions PLA (M31)

This appropriation is limited to the expense incurred in unwinding the discount rate used in the present value calculation of the liability in respect of share subscriptions in International Financial Institutions as it nears settlement, as authorised by section 5(2) of the International Finance Agreements Act 1961.
-1,6051,605

Unwind of Discount Rate Used in the Present Value Calculation of Payment Under Crown Deed of Support with Southern Response Earthquake Services Ltd (M31)

This appropriation is limited to the expense incurred in unwinding the discount rate used in the present value calculation of the liability as the liability nears settlement.
12,8433,52716,370

Write-Off of Historical Investment in Solid Energy (M31)

This appropriation is limited to a write-off of historical investment in Solid Energy New Zealand Limited.
-60,90060,900

Total Non-Departmental Other Expenses

763,535437,1671,200,702

Non-Departmental Capital Expenditure

Crown Asset Management Limited - Acquisition of Residual Assets (M31)

This appropriation is limited to the acquisition of residual assets from Crown Asset Management Limited.
-1,0001,000

International Financial Institutions PLA (M31)

This appropriation is limited to capital expenditure for shares subscribed to by New Zealand as a member of International Financial Institutions, authorised by section 5 of the International Finance Agreements Act 1961.
44,000306,494350,494

Otakaro Limited Equity Injection (M85)

This appropriation is limited to the provision of an equity injection in Otakaro Limited.
-6,1006,100

Refinancing of Housing New Zealand Corporation and Housing New Zealand Limited Debt (M31)

This appropriation is limited to refinancing existing Housing New Zealand Corporation and Housing New Zealand Limited Debt.
142,362-142,362

Southern Response Earthquake Services Ltd: Equity Investment (M31)

This appropriation is limited to the investment in Southern Response Earthquake Services Ltd.
-417,000417,000

Transfer of Housing New Zealand Corporation's Tamaki Housing Stock to Tamaki Redevelopment Company (M31)

This appropriation is limited to the transfer of Housing New Zealand Corporation properties to Tamaki Redevelopment Company Limited.
1,300,000331,1611,631,161

Total Non-Departmental Capital Expenditure

1,486,3621,061,7552,548,117

Multi-Category Expenses and Capital Expenditure

Greater Christchurch Anchor Projects MCA (M85)

The single overarching purpose of this appropriation is to support the recovery of Christchurch by contributing operating and capital funding for anchor projects covered by the Christchurch Central Recovery Plan.
-440,417440,417
Non-Departmental Other Expenses
Christchurch Bus Interchange and associated transport infrastructure - contributions from third parties
This category is limited to the development, operations and divestment of the Christchurch Bus Interchange and associated transport infrastructure funded by contributions from parties other than the Crown.
-100100
Christchurch Bus Interchange and Associated Transport Infrastructure - Operating
This category is limited to the Crown's contribution to the development, operations and divestment of the Christchurch Bus Interchange and associated transport infrastructure.
-41,78841,788
Christchurch Convention Centre - Operating
This category is limited to the Crown's contribution to the development, operations and divestment of the Christchurch Convention Centre.
-8,0168,016
Christchurch Stadium - contributions from third parties
This category is limited to the development, operations and divestment of the Christchurch Stadium funded by contributions from parties other than the Crown.
-100100
Christchurch Stadium - Operating
This category is limited to the Crown's contribution to the development, operations and divestment of the Christchurch Stadium.
-4,0004,000
Earthquake Memorial - Operating
This category is limited to the Crown's contribution to the development, operations and divestment of the Canterbury Earthquake Memorial.
-88
Financial Impact of Valuations
This category is limited to expenses incurred as a result of the Crown's decisions affecting valuations.
-2,8312,831
Leasing Anchor Project Land
This category is limited to the financial impact of granting concessionary leases over anchor project land.
-6,0006,000
Metro Sports Facility - contributions from third parties
This category is limited to the development, operations and divestment of the Metro Sports Facility funded by contributions from parties other than the Crown.
-100100
Metro Sports Facility - Operating
This category is limited to the Crown's contribution to the development, operations and divestment of Metro Sports Facility.
-9,3899,389
Pre-Development Holding Costs - Operating
This category is limited to the Crown's contribution to the maintenance, operation and ownership of anchor project land and assets prior to commencement of developments.
-5,4635,463
Procurement of Land and Assets - Operating
This category is limited to the Crown's contribution to the purchase, acquisition and clearance of land and assets for anchor project development.
-75,51475,514
Public Space - contributions from third parties
This category is limited to the development, operations and divestment of the Crown owned public space funded by contributions from parties other than the Crown.
-100100
Public Space - Operating
This category is limited to the Crown's contribution to the development, operations and divestment of the Crown owned public space.
-105,217105,217
Sale of Land
This category is limited to the financial impact from the divestment of land and transaction costs incurred in the preparation for sale and the sale of land.
-2,6842,684
The Square - contributions from third parties
This category is limited to the development, operations and divestment of the Square funded by contributions from parties other than the Crown.
-100100
Non-Departmental Capital Expenditure
Christchurch Bus Interchange and Associated Transport Infrastructure - Capital
This category is limited to the Crown's contribution to the capital development of the Christchurch Bus Interchange and associated transport infrastructure and to providing equity or loan capital to Otakaro Limited for that purpose.
-7,8607,860
Christchurch Convention Centre - Capital
This category is limited to the Crown's contribution to the capital development of the Christchurch Convention Centre and to providing equity or loan capital to Otakaro Limited for that purpose.
-24,50024,500
Earthquake Memorial - Capital
This category is limited to the Crown's contribution to the capital development of the Canterbury Earthquake Memorial and to providing equity or loan capital to Otakaro Limited for that purpose.
-3,6253,625
Land and Asset Acquisition - Capital
This category is limited to the Crown's contribution to the cost of land and assets to be acquired for anchor project development and to providing equity or loan capital to Otakaro Limited for that purpose.
-104,384104,384
Metro Sports Facility - Capital
This category is limited to the Crown's contribution to the capital development of Metro Sports Facility and to providing equity or loan capital to Otakaro Limited for that purpose.
-1,0001,000
Public Space - Capital
This category is limited to the capital development of the Crown owned public space and to providing equity or loan capital to Otakaro Limited for that purpose.
-37,63837,638

Inquiries and Research into Productivity-Related Matters MCA (M31)

The overarching purpose of this appropriation is to provide for inquiries into, and research and promotion of, productivity-related matters.
5,030-5,030
Non-Departmental Output Expenses
Inquiries into Productivity-Related Matters
This category is limited to inquiries undertaken by the New Zealand Productivity Commission in accordance with the New Zealand Productivity Commission Act 2010.
4,401-4,401
Research into and Promotion of Productivity-Related Matters
This category is limited to the New Zealand Productivity Commission undertaking research into and promoting public understanding of productivity-related matters in accordance with the New Zealand Productivity Commission Act 2010.
629-629

Management of Landcorp Protected Land Agreement MCA (M31)

The overarching purpose of this appropriation is meeting the Crown's responsibilities under the Landcorp Protected Land Agreement.
4,0001,5005,500
Non-Departmental Other Expenses
Operating Costs
This category is limited to providing operating costs incurred under the Landcorp Protected Land Agreement.
2,0001,5003,500
Non-Departmental Capital Expenditure
Capital Investments
This category is limited to providing for capital investments incurred under the Landcorp Protected Land Agreement.
2,000-2,000

Management of New Zealand House, London MCA (M31)

The overarching purpose of this appropriation is to ensure that New Zealand House, London is well managed.
14,7502,61017,360
Non-Departmental Output Expenses
Property Management
This category is limited to the property management services in respect of New Zealand House, London.
1,000(200)800
Non-Departmental Other Expenses
Operational Costs
This category is limited to the operational costs of New Zealand House, London.
13,00090013,900
Renegotiation of Lease Arrangements
This category is limited to activities to re-gear the lease on New Zealand House, London (including The Royal Opera Arcade and Her Majesty's Theatre).
-410410
Non-Departmental Capital Expenditure
Capital Expenditure
This category is limited to capital expenditure in relation to New Zealand House, London.
7501,5002,250

Management of the Crown's agreement with Taitokerau Forests Limited MCA (M31)

The overarching purpose of this appropriation is meeting the Crown's responsibilities under its agreement with Taitokerau Forests Limited.
1,0006,3647,364
Non-Departmental Other Expenses
Grants
This category is limited to grants to Taitokerau Forests Limited for on-payment to forest owners, payable upon harvest of the forests.
200273473
Impairment of Loans
This category is limited to the expense incurred on the impairment and write-down of loans to Taitokerau Forests Limited.
-5,7915,791
Non-Departmental Capital Expenditure
Loans
This category is limited to the provision of loans to Taitokerau Forests Limited for forest management and development.
8003001,100

Social Housing Reform MCA (M90)

The overarching purpose of this appropriation is to improve the variety of social housing in New Zealand and grow the community housing sector, by making Housing New Zealand Corporation stock available to social housing providers.
12,5005,32517,825
Departmental Output Expenses
Implementation of the Social Housing Reform Programme
This category is limited to the policy, operational, and transactional work to implement the Government's reform of social housing.
4,6006,32510,925
Non-Departmental Output Expenses
Direct Sale Costs for Implementing the Social Housing Reform Programme
This category is limited to direct sales costs of implementing the Government's reform of social housing.
7,900(1,000)6,900

Total Multi-Category Expenses and Capital Expenditure

37,280456,216493,496

Total Annual and Permanent Appropriations

5,771,2652,002,6017,773,866

Multi-Year Appropriations

Type, Title, Scope and Period of AppropriationsAppropriations, Adjustments and Use$000

Non-Departmental Other Expenses

Loyalty Bonus Scheme Related to Initial Public Offers (M31)

This appropriation is limited to expenses incurred by allocating shares under a loyalty bonus scheme to eligible investors in initial public offers.

Commences: 01 March 2013

Expires: 30 June 2016
Original Appropriation40,000
Adjustments to 2014/156,812
Adjustments for 2015/16-
Adjusted Appropriation46,812
Actual to 2014/15 Year End46,812
Estimated Actual for 2015/16-
Estimated Actual for 2016/17-
Estimated Appropriation Remaining-

Non-Departmental Capital Expenditure

Loan Facility for Tamaki Redevelopment Company (M31)

This appropriation is limited to provision of a loan to Tamaki Redevelopment Company Limited.

Commences: 31 March 2015

Expires: 30 June 2018
Original Appropriation200,000
Adjustments to 2014/15-
Adjustments for 2015/16-
Adjusted Appropriation200,000
Actual to 2014/15 Year End-
Estimated Actual for 2015/1623,000
Estimated Actual for 2016/1778,000
Estimated Appropriation Remaining99,000

Transfer of Anchor Project Assets to Otakaro Limited (M85)

This appropriation is limited to the transfer of Christchurch anchor project assets to Otakaro Limited.

Commences: 01 April 2016

Expires: 30 June 2020
Original Appropriation500,000
Adjustments to 2014/15-
Adjustments for 2015/16-
Adjusted Appropriation500,000
Actual to 2014/15 Year End-
Estimated Actual for 2015/16300,000
Estimated Actual for 2016/17200,000
Estimated Appropriation Remaining-

Total Annual and Permanent Appropriations and Multi-Year Appropriation Forecasts

2015/16
Estimates
Budget
$000
Supplementary
Estimates
Budget
$000
Total
Budget
$000
Total Annual and Permanent Appropriations5,771,2652,002,6017,773,866
Total MYA Non-Departmental Capital Expenditure Forecasts100,000223,000323,000

Total Annual and Permanent Appropriations and Multi-Year Appropriation Forecasts

5,871,2652,225,6018,096,866

Capital Injection Authorisations

2015/16
Estimates Budget
$000
Supplementary
Estimates Budget
$000
Total Budget
$000
The Treasury - Capital Injection (M31)-820820
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