Notes to the Forecast Financial Statements
|
2011 Actual $m |
2012 Previous Budget $m |
2012 Forecast $m |
2013 Forecast $m |
2014 Forecast $m |
2015 Forecast $m |
2016 Forecast $m |
|
|---|---|---|---|---|---|---|---|
| Taxpayer funds | 18,188 | 14,463 | 7,573 | 2,144 | 2,790 | 5,805 | 10,901 |
| Property, plant and equipment revaluation reserve | 62,690 | 63,614 | 62,618 | 62,550 | 62,501 | 62,424 | 62,376 |
| Investment revaluation reserve | 58 | 69 | 69 | 79 | 91 | 103 | 117 |
| Cash flow hedge reserve | (310) | (223) | (276) | (279) | (279) | (279) | (280) |
| Foreign currency translation reserve | (47) | (53) | 11 | 66 | 66 | 66 | 66 |
| Total net worth attributable to the Crown | 80,579 | 77,870 | 69,995 | 64,560 | 65,169 | 68,119 | 73,180 |
Taxpayer Funds |
|||||||
| Opening taxpayer funds | 31,087 | 21,720 | 18,188 | 7,573 | 2,144 | 2,790 | 5,805 |
| Operating balance excluding minority interest | (13,360) | (7,293) | (10,642) | (5,699) | 366 | 2,735 | 4,814 |
| Partial share sales in state-owned enterprises | - | - | - | 200 | 200 | 200 | 200 |
| Transfers from/(to) other reserves | 461 | 36 | 27 | 70 | 80 | 80 | 82 |
| Closing taxpayer funds | 18,188 | 14,463 | 7,573 | 2,144 | 2,790 | 5,805 | 10,901 |
Property, plant and equipment revaluation reserve |
|||||||
| Opening revaluation reserve | 63,593 | 63,600 | 62,690 | 62,618 | 62,550 | 62,501 | 62,424 |
| Net revaluations | (443) | - | (47) | - | - | - | - |
| Transfers from/(to) other reserves | (460) | 14 | (25) | (68) | (49) | (77) | (48) |
| Closing property, plant and equipment revaluation reserve | 62,690 | 63,614 | 62,618 | 62,550 | 62,501 | 62,424 | 62,376 |
Investment revaluation reserve |
|||||||
| Opening investment revaluation reserve | 59 | 63 | 58 | 69 | 79 | 91 | 103 |
| Valuation gain/(losses) on investments available for sale taken to reserves | (1) | 6 | 11 | 10 | 12 | 12 | 14 |
| Closing investment revaluation reserve | 58 | 69 | 69 | 79 | 91 | 103 | 117 |
Cash flow hedge reserve |
|||||||
| Opening cash flow hedge reserve | (143) | (219) | (310) | (276) | (279) | (279) | (279) |
| Transfer into reserve | (279) | 3 | 56 | (3) | - | - | (1) |
| Transfer to the Statement of Financial Performance | 17 | - | - | - | - | - | - |
| Transfer to initial carrying value of hedged item | 95 | (7) | (22) | - | - | - | - |
| Closing cash flow hedge reserve | (310) | (223) | (276) | (279) | (279) | (279) | (280) |
Foreign currency translation reserve |
|||||||
| Opening foreign currency translation reserve | (10) | (47) | (47) | 11 | 66 | 66 | 66 |
| Movement arising from translation of foreign operations | (37) | (6) | 58 | 55 | - | - | - |
| Closing foreign currency translation reserve | (47) | (53) | 11 | 66 | 66 | 66 | 66 |
