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Financial Statements of the Government of New Zealand

Page updated 5 Oct 2017

The Treasury publishes monthly and annual (year end) financial statements for the government reporting entity. These provide information on the government's assets and liabilities, revenue and expenses and cash flows.

Latest Financial Statements

The most recent monthly Financial Statements available on the Treasury website are the Financial Statements of the Government of New Zealand for the eleven months ended 31 May 2017 published on 6 July 2017.

Subsequent to publication of the Financial Statements of the Government of New Zealand for the ten months ended 30 April 2017 an overstatement of $352 million (0.6% of core Crown tax revenue) has been discovered in the April corporate tax revenue reported. The overstatement impacted the actual results only, as such the Budget 2017 forecast outturn is unaffected. The overstatement impacted core Crown tax revenue, core Crown revenue, OBEGAL, operating balance and net worth attributable to the Crown. Residual cash and the two debt indicators (gross and net) are unaffected. The April financial statements have been amended accordingly.

To purchase a hard copy of the month end financial statements, please contact Legislation Direct at ldorders@legislationdirect.co.nz to place an order.

The most recent Year End Financial Statements available on the Treasury website are the Financial Statements of the Government of New Zealand for the Year Ended 30 June 2017 published on 5 October 2017.

To purchase a hard copy of the Year End Financial Statements, please contact Legislation Direct at ldorders@legislationdirect.co.nz to place an order.  The cost for the book is $24.94.

Next Release of Financial Statements

The next release will be the Financial Statements of the Government for the three months ended 30 September 2017 on 7 November 2017.

Purpose of the Financial Statements

The Financial Statements of the Government provide a record of the Government's financial performance and of its financial position. They provide a comparison with the fiscal forecasts in the Economic and Fiscal Updates and with the financial statements of the previous year. The financial statements also provide a snapshot of the progress the government has made in implementing its fiscal strategy, as set out in the Short-term Fiscal Intentions and Long-term Fiscal Objectives section of the Fiscal Strategy Report 2017.

Financial statements are prepared for the Government as a whole as specified in the Public Sector Finance Act 1989. Parliamentary and state sector entities and organisations for which statements are prepared include: Ministers, Departments, Offices of Parliament, State-owned enterprises, Crown Entities, the Reserve Bank of New Zealand and New Zealand Superannuation Fund. A full list of government reporting entities can be found in Note 1: Basis of Reporting of the most recent year end financial statements, in the section titled Government Reporting Entity as at 30 June 2016.

Further information on financial reporting by the Government of New Zealand, including an overview of reporting requirements on Government sub-entities, and the public benefit entities accounting standards complied with, particular accounting policies and guidance employed in preparing financial reports and research and other papers on financial reporting by the Government as a whole can be found at Financial Reporting.

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