Information on SOEs and Crown Entities
Accounting Policies
The Crown’s financial interest in SOEs and Crown entities is reported in accordance with the Crown’s accounting policies. Adjustments have been made to restate the financial position and financial performance of certain entities, as reported in their own financial statements, to a basis consistent with the Crown’s accounting policies.
The Crown has line-by-line combined all SOEs and Crown entities (except TEIs).
The Crown has equity accounted 100% of the net assets of TEIs on the basis that, in the event of disestablishment of a TEI (which is subject to a resolution of the House), 100% of the net assets revert to the Crown in the absence of a decision to transfer the assets to a new or existing institution and, in the meantime, the Crown enjoys the benefits of the provision of a higher education to the public of New Zealand. Refer Note 13 for an explanation as to why TEIs are equity accounted.
Minority Interests
The ownership interest in Air New Zealand Limited is 80.5%. The interest in Air New Zealand Limited is included within the total SOE information.
Balance Dates
Except for those entities listed below, all SOEs and significant Crown entities have a balance date of 30 June, and the information reported in these financial statements is for the period ended 30 June 2005:
| Balance date | Information reported to | |
|---|---|---|
| SOEs: | ||
| Asure New Zealand Limited | 30 September | 30 June 2005 |
| Timberlands West Coast Limited | 31 March | 31 March 2005 |
| Crown entities: | ||
| School boards of trustees | 31 December | 31 December 2004 |
| TEIs | 31 December | 30 June 2005 |
