hyefu09.pdf (645 KB) | Using PDF Files Previous | Contents | Next

Forecast Statement of Financial Performance

for the years ending 30 June

Forecast Statement of Financial Performance for the years ending 30 June
	Note	2009 Actual $m	2010 Previous Budget $m	2010 Forecast $m	2011 Forecast $m	2012 Forecast $m	2013 Forecast $m	2014 Forecast $m
Revenue
Taxation revenue	1	54,145	51,052	50,843	53,897	56,653	59,822	63,111
Other sovereign revenue	1	4,118	4,860	4,634	5,847	6,047	6,422	6,804
Total revenue levied through the Crown's sovereign power		58,263	55,912	55,477	59,744	62,700	66,244	69,915
Sales of goods and services		15,356	16,049	14,005	15,135	16,122	16,861	17,309
Interest revenue and dividends	2	3,419	3,159	3,659	4,039	4,377	4,603	4,617
Other revenue		2,890	2,814	2,831	2,801	2,873	2,937	3,044
Total revenue earned through the Crown's operations		21,665	22,022	20,495	21,975	23,372	24,401	24,970
Total Revenue (excluding gains)		79,928	77,934	75,972	81,719	86,072	90,645	94,885
Expenses
Transfer payments and subsidies	3	19,962	21,175	21,533	22,456	23,230	24,061	24,773
Personnel expenses	4	18,064	18,324	18,201	18,545	18,925	19,070	19,162
Depreciation and amortisation	5	4,305	4,126	4,201	4,508	4,681	4,761	4,839
Other operating expenses	5	34,116	34,855	33,487	33,957	33,478	34,384	34,935
Interest expenses	6	3,492	3,349	3,906	4,626	5,366	6,011	6,344
Insurance expenses	7	3,882	3,890	3,246	3,483	4,265	4,898	5,358
Forecast new operating spending	8	-	254	13	1,028	2,177	3,285	4,391
Top-down expense adjustment	8	-	(300)	(1,150)	(200)	(50)	(50)	(50)
Total Expenses (excluding losses)		83,821	85,673	83,437	88,403	92,072	96,420	99,752
Operating Balance before gains/(losses)		(3,893)	(7,739)	(7,465)	(6,684)	(6,000)	(5,775)	(4,867)
Net gains/(losses) on financial instruments	9	(2,634)	1,416	2,685	1,157	1,436	1,637	1,782
Net gains/(losses) on non-financial instruments	10	(4,167)	205	(112)	226	235	238	240
Total gains/(losses)		(6,801)	1,621	2,573	1,383	1,671	1,875	2,022
Net surplus from associates and joint ventures		212	390	99	174	177	173	173
Operating Balance from continuing activities		(10,482)	(5,728)	(4,793)	(5,127)	(4,152)	(3,727)	(2,672)
Gain/(loss) from discontinued operations		2	(1)	(1)	(1)	(1)	(1)	(1)
Operating Balance (including minority interest)		(10,480)	(5,729)	(4,794)	(5,128)	(4,153)	(3,728)	(2,673)
Attributable to minority interest		(25)	-	-	-	-	-	-
Operating balance	11	(10,505)	(5,729)	(4,794)	(5,128)	(4,153)	(3,728)	(2,673)

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

Forecast Statement of Financial Performance (continued) - Functional Expense Analysis

for the years ending 30 June

Forecast Statement of Financial Performance (continued) - Functional Expense Analysis for the years ending 30 June
	2009 Actual $m	2010 Previous Budget $m	2010 Forecast $m	2011 Forecast $m	2012 Forecast $m	2013 Forecast $m	2014 Forecast $m
Total Crown Expenses
By functional classification
Social security and welfare	23,273	25,073	24,268	25,699	27,374	28,825	29,937
GSF pension expenses	655	370	368	408	537	599	588
Health	12,042	12,815	12,889	12,859	12,795	12,769	12,811
Education	12,465	12,147	12,358	12,471	12,596	12,622	12,685
Core government services	5,137	3,582	3,957	3,982	3,800	3,831	3,830
Law and order	3,250	3,515	3,473	3,526	3,527	3,548	3,557
Defence	1,712	1,761	1,796	1,807	1,769	1,768	1,767
Transport and communications	9,023	8,868	8,421	8,237	8,314	8,541	9,000
Economic and industrial services	7,695	8,246	7,690	7,777	8,184	8,300	8,451
Primary services	1,487	1,510	1,628	1,541	1,555	1,565	1,548
Heritage, culture and recreation	2,397	2,806	2,358	2,804	2,761	3,405	3,188
Housing and community development	1,075	1,115	1,031	1,098	1,171	1,155	1,133
Other	118	562	431	740	196	246	572
Finance costs	3,492	3,349	3,906	4,626	5,366	6,011	6,344
Forecast for future new spending	-	254	13	1,028	2,177	3,285	4,391
Top-down expense adjustment	-	(300)	(1,150)	(200)	(50)	(50)	(50)
Total Crown Expenses excluding losses	83,821	85,673	83,437	88,403	92,072	96,420	99,752

Below is an analysis of core Crown expenses by functional classification. Core Crown expenses include expenses incurred by the Crown, Departments, Reserve Bank and the NZS Fund, but not Crown entities and SOEs.

	2009 Actual $m	2010 Previous Budget $m	2010 Forecast $m	2011 Forecast $m	2012 Forecast $m	2013 Forecast $m	2014 Forecast $m
Core Crown Expenses
By functional classification
Social security and welfare	19,382	21,139	21,155	22,243	23,055	23,876	24,591
GSF pension expenses	655	370	357	396	525	587	575
Health	12,368	13,397	13,434	13,452	13,415	13,387	13,407
Education	11,455	11,284	11,649	11,766	11,812	11,813	11,858
Core government services	5,293	3,620	4,071	4,034	3,856	3,891	3,888
Law and order	3,089	3,267	3,269	3,314	3,300	3,315	3,315
Defence	1,757	1,810	1,844	1,856	1,819	1,819	1,819
Transport and communications	2,663	2,253	2,807	2,217	2,051	2,042	2,051
Economic and industrial services	2,960	2,673	3,167	2,672	2,634	2,615	2,631
Primary services	534	611	589	524	532	539	519
Heritage, culture and recreation	1,002	1,507	1,142	1,470	1,355	1,962	1,708
Housing and community development	297	365	338	354	358	344	336
Other	118	562	431	740	196	246	572
Finance costs	2,429	2,470	2,404	3,080	3,686	4,303	4,617
Forecast for future new spending	-	254	13	1,028	2,177	3,285	4,391
Top-down expense adjustment	-	(300)	(1,150)	(200)	(50)	(50)	(50)
Total Core Crown Expenses excluding losses	64,002	65,282	65,520	68,946	70,721	73,974	76,228

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

Page top

Global Navigation

Personal tools

Forecast Statement of Financial Performance

for the years ending 30 June

Revenue

Expenses

Forecast Statement of Financial Performance (continued) - Functional Expense Analysis

for the years ending 30 June

Total Crown Expenses

By functional classification

Core Crown Expenses

By functional classification