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Financial Statements (continued)

Statement of Borrowings (as at 30 June 2006)
Forecast Total Sovereign-Guaranteed Debt Actual
Original Budget $m Estimated Actual $m 30 June 2006 $m 30 June 2005 $m
Original Budget $m Estimated Actual $m Total Sovereign-Guaranteed Debt 30 June 2006 $m 30 June 2005 $m
Forecast Actual
Sovereign Guaranteed Debt
New Zealand-Dollar Debt
14,858 16,814 Government stock 17,002 16,058
4,364 5,262 Treasury bills 4,860 5,245
1,427 (9,030) Foreign-exchange contracts and loans (11,247) (6,123)
674 513 Retail stock 532 583
21,323 13,559 Total New Zealand-Dollar Debt 11,147 15,763
Foreign-Currency Debt
84 8,808 United States dollars 14,430 7,906
382 508 Japanese yen 404 252
4,390 7,150 European and other currencies 3,898 4,724
4,856 16,466 Total Foreign-Currency Debt 18,732 12,882
26,179 30,025 Total Sovereign-Guaranteed Debt 29,879 28,645
Non-Sovereign-Guaranteed Debt[1]
7,259 6,762 New Zealand dollars 7,198 5,601
2,221 1,962 United States dollars 1,794 1,541
- - Japanese yen 279 324
496 140 European and other currencies 277 753
9,976 8,864 Total Non-Sovereign Guaranteed Debt 9,548 8,219
36,155 38,889 Total Borrowings 39,427 36,864
Less
Financial Assets (including restricted assets)
Marketable Securities, Deposits and Equity Investments
11,774 7,402 New Zealand dollars 8,003 6,487
3,633 11,019 United States dollars 11,080 9,733
417 1,037 Japanese yen 615 789
3,202 7,010 European and other currencies 7,970 4,455
662 281 Reserve position at International Monetary Fund (IMF) 458 702
2,698 3,160 New Zealand equity investments 2,721 2,385
10,344 12,107 Foreign equity investments 12,673 8,511
32,730 42,016 Total Marketable Securities, Deposits and Equity Investments 43,520 33,062
Advances and Cash and Bank
7,195 5,472 Student loans 5,569 6,465
3,258 3,458 Other advances 3,189 2,071
2,446 3,319 Cash 4,168 3,710
12,899 12,249 Total Advances and Cash 12,926 12,246
45,629 54,265 Total Financial Assets 56,446 45,308
(9,474) (15,376) Borrowings less Financial Assets (17,019) (8,444)
1,252 (3,432) Net New Zealand-dollar (assets)/debt (5,569) (13)
(10,726) (11,944) Net foreign-currency (assets)/debt (11,450) (8,431)
(9,474) (15,376) Borrowings less Financial Assets (17,019) (8,444)
  • [1] Non-sovereign guaranteed debt is a mixture of secured and non-secured debt. Where debt is secured it is over assets of the particular entity or by way of a negative pledge that while any of the stock issued under the relevant deed remains outstanding the entity will not, subject to certain exceptions, create or permit to exist any charge or lien over any of their respective assets.

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

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