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Government Finances

Page updated 16 May 2013

Overview of the government's finances including financial reporting for the government as a whole, the government's revenue and expenditure, its assets and liabilities and its fiscal strategy.

Advising the government on its finances is a core role of the Treasury. The Treasury is responsible for establishing and maintaining controls to ensure that all government financial transactions are within statutory authority, and that use of public money is properly recorded. The Treasury also prepares forecasts, including economic and fiscal updates as part of the Budget process.

Government finances take into account all of the issues any business does, including revenue and expenditure, and assets and liabilities. And like any business, the government must also prepare financial statements at regular intervals (see month end and year end financial statements). These statements are prepared by the Treasury and cover all government entities, including Ministers of the Crown, Offices of Parliament, departments, crown entities, state-owned enterprises, the Reserve Bank of New Zealand and the Public Trust office. A full list of government reporting entities can be found in the Forecast Financial Statements chapter in the 2013 Budget and Economic and Fiscal Update in the section titled Government Reporting Entity as at 29 April 2013. Statements are prepared in accordance with the New Zealand equivalents to International Financial Reporting Standards.

In this section of the website we introduce:

The Treasury's Role

The Treasury is responsible for establishing and maintaining controls to ensure that all government financial transactions are within statutory authority, and that all use of public money is properly recorded.

The Treasury's role in managing the government's finances can be broken into three broad areas:

Key Publications

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