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Forecast Statement of Cash Flows for the years ending 30 June

Forecast Statement of Cash Flows for the years ending 30 June
  2007 2008 2008 2009 2010 2011 2012
  Actual Previous
Budget 		Forecast Forecast Forecast Forecast Forecast
  $m $m $m $m $m $m $m
Cash Flows From Operations              
Cash was provided from              
Taxation receipts 52,150 54,266 55,316 56,858 59,932 62,903 65,831
Other sovereign receipts 3,418 3,472 3,571 3,991 3,913 4,026 4,113
Forecast revenue reduction contingency -  -  -  (375) (1,500) (1,600) (1,700)
Sales of goods and services 12,777 13,394 13,127 14,032 14,690 15,374 16,082
Interest and dividends 2,533 2,760 3,467 3,610 3,599 3,849 3,958
Other operating receipts 2,294 2,302 2,420 2,461 2,516 2,535 2,556
Total cash provided from operations 73,172 76,194 77,901 80,577 83,150 87,087 90,840
Cash was disbursed to              
Social assistance and official development assistance 18,436 19,529 17,294 17,935 18,445 19,381 20,260
Personnel and operating payments 39,838 44,025 47,316 48,247 48,920 50,041 50,834
Interest payments 2,442 2,530 3,052 2,730 2,742 2,820 2,912
Forecast for future new spending -  314 201 2,057 4,015 5,956 7,926
Top-down expense adjustment -  -  (750) (275) (250) (200) (150)
Total cash disbursed to operations 60,716 66,398 67,113 70,694 73,872 77,998 81,782
Net Cash Flows From Operations 12,456 9,796 10,788 9,883 9,278 9,089 9,058
Cash Flows From Investing Activities              
Cash was provided from/(disbursed to)              
Net purchase of physical assets (5,213) (6,661) (6,799) (5,852) (6,355) (6,364) (5,944)
Net purchase of shares and other securities (8,157) (4,491) (6,535) (1,973) (1,000) (4,565) (84)
Net purchase of intangible assets (206) (144) (258) (178) (150) (128) (139)
Net issue/(repayment) of advances (1,014) (1,628) (458) (762) (717) (698) (666)
Net acquisition of investments in associates (288) (95) (335) (211) (2) (20) (20)
Capital contingency provision -  (184) -  (1,003) (773) (924) (1,110)
Top-down capital adjustment -  -  250 100 100 100 100
Net Cash Flows From Investing Activities (14,878) (13,203) (14,135) (9,879) (8,897) (12,599) (7,863)
Net Cash Flows From Operating and Investing Activities (2,422) (3,407) (3,347) 4 381 (3,510) 1,195
Cash Flows From Financing Activities              
Cash was provided from/(disbursed to)              
Issues of circulating currency 81 178 182 177 186 195 205
Net repayment/(issues) of Government stock[i] (3,758) 2,223 2,875 (739) (1,809) 2,168 (1,836)
Net repayment of foreign-currency borrowing 1,780 (1,130) (1,624) (801) (370) 366 111
Net repayment/(issues) of other New Zealand dollar borrowing 4,893 2,225 1,896 1,718 1,730 1,120 1,015
Net Cash Flows From Financing Activities 2,996 3,496 3,329 355 (263) 3,849 (505)
Net Movement in Cash 574 89 (18) 359 118 339 690
Opening Cash Balance 3,676 3,107 4,208 4,232 4,591 4,709 5,048
Foreign-exchange (losses)/gains on opening cash (42) -  42 -  -  -  - 
Closing Cash Balance 4,208 3,196 4,232 4,591 4,709 5,048 5,738
  • [i] Net issues of Government stock include movements within government stock holdings of entities such as NZS Fund, ACC and EQC.
    The Bonds reconciliation at the end of these accounts outlines proceeds and repayments of domestic bonds.

The accompanying Notes and Accounting policies are an integral part of these Statements.

Forecast Statement of Cash Flows (continued) for the years ending 30 June

Forecast Statement of Cash Flows (continued) for the years ending 30 June
  2007 2008 2008 2009 2010 2011 2012
  Actual Previous
Budget 		Forecast Forecast Forecast Forecast Forecast
  $m $m $m $m $m $m $m
Reconciliation Between the Net Cash Flows from Operations and the Operating Balance              
Net Cash Flows from Operations 12,456 9,796 10,788 9,883 9,278 9,089 9,058
Items included in the operating balance but not in net cash flows from operations.              
Gains/(losses)              
Gains/(losses) on financial instruments 1,569 1,377 1,873 1,431 1,539 1,781 1,984
Gains/(losses) on non-financial instruments 985 -  (1,237) 96 105 102 135
Total Gains/(losses) 2,554 1,377 636 1,527 1,644 1,883 2,119
Movements in Working Capital              
Increase/(decrease) in receivables 60 218 1,322 96 296 291 208
Increase/(decrease) in inventories 79 41 91 94 32 (46) (31)
Increase/(decrease) in prepayments (77) (2) (80) 40 (9) (3) 2
Decrease/(increase) in deferred revenue (85) -  110 (8) (1) 3 2
Decrease/(increase) in payables (1,168) (569) (151) (634) (251) 258 359
  (1,191) (312) 1,292 (412) 67 503 540
Other Non-cash Items in Operating Balance              
Depreciation and amortisation (3,338) (3,296) (3,459) (3,643) (3,818) (4,010) (4,199)
Write-down on initial recognition of loans (2,141) (518) (616) (625) (646) (679) (690)
Impairment on financial assets (excl receivables) 37 (38) 3 1 1 1 1
Net interest revenue (131) 389 47 217 326 253 327
Decrease/(increase) in defined benefit retirement plan liabilities 1,147 (51) (55) 7 54 75 102
Decrease/(increase) in insurance liabilities (1,580) (1,013) (1,426) (1,101) (1,200) (1,248) (1,289)
Other 186 97 178 199 218 227 259
Total Other Non-cash Items (5,820) (4,430) (5,328) (4,945) (5,065) (5,381) (5,489)
Operating Balance 7,999 6,431 7,388 6,053 5,924 6,094 6,228

The accompanying Notes and Accounting policies are an integral part of these Statements.

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