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Statement of Cash Flows (for the year ended 30 June 2005)

Forecast Actual
Original Budget $m Estimated Actual $m 30 June 2005 $m 30 June 2004 $m
Original Budget $m Estimated Actual $m 30 June 2005 $m 30 June 2004 $m
Forecast Actual
Cash Flows from Operations
Cash was provided from
43,992 46,777 Total tax receipts (refer Note 1) 46,867 42,308
2,851 3,034 Total other sovereign receipts (refer Note 1) 2,974 2,852
933 1,747 Interest 1,642 1,366
64 66 Dividends 66 56
10,453 11,080 Sales of goods and services 11,517 10,478
1,969 1,791 Other operating receipts 2,186 1,958
60,262 64,495 Total Cash Provided from Operations 65,252 59,018
Cash was disbursed to
16,244 15,946 Subsidies and transfer payments 15,717 15,370
34,314 34,553 Personnel and operating payments 35,052 32,398
2,175 2,342 Finance costs 2,294 2,256
441 - Forecast for future new spending - -
53,174 52,841 Total Cash Disbursed to Operations 53,063 50,024
7,088 11,654 Net Cash Flows from Operations 12,189 8,994
Cash Flows From Investing Activities
Cash was provided from
- 313 Sale of physical assets 316 226
- 313 Total Cash Provided from Investing Activities 316 226
Cash was disbursed to
4,567 5,084 Purchase of physical assets 4,862 3,761
1,376 1,444 Net increase in advances 1,061 976
767 6,791 Net purchase of marketable securities, deposits and equity investments 6,677 2,556
228 - Forecast for future new capital spending - -
6,938 13,319 Total Cash Disbursed to Investing Activities 12,600 7,293
(6,938) (13,006) Net Cash Flows from Investing Activities (12,284) (7,067)
150 (1,352) Net Cash Flows from Operating and Investing Activities (95) 1,927
Cash Flows from Financing Activities
Cash was provided from
- 188 Issues of circulating currency 188 114
245 1,963 Net issue of foreign-currency borrowing 1,913 129
245 2,151 Total Cash Provided from Financing Activities 2,101 243
Cash was disbursed to
(131) 53 Net repayment/(issue) of other New Zealand-dollar borrowing 829 241
746 951 Net repayments of Government stock[1] 951 1,120
615 1,004 Total Cash Disbursed to Financing Activities 1,780 1,361
(370) 1,147 Net Cash Flows from Financing Activities 321 (1,118)
(220) (205) Net Movement in Cash 226 809
2,341 3,450 Opening Cash Balance 3,450 2,732
- 36 Foreign-exchange gains/(losses) on opening cash 34 (91)
2,121 3,281 Closing Cash Balance 3,710 3,450
  • [1] Net (repayments)/issues of Government stock is after elimination of Government stock holdings of entities such as NZS Fund, GSF, ACC and EQC. The bonds reconciliation reconciles core Crown activity to New Zealand Debt Management Office (NZDMO) bond issues (refer Core Crown Cash Flow Reconciliation to Government Stock Issues).

The accompanying notes and accounting policies are an integral part of these statements.

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