Statement of Segments

Statement of Financial Performance (institutional form)

for the year ended 30 June 2007 (actual to forecast)

	Current Year Actual vs Forecast
	Core Crown		Crown entities
	Actual 2007	Estimated Actual	Actual 2007	Estimated Actual
	$m	$m	$m	$m
Revenue
Taxation revenue	53,411	52,853	-	-
Levies, fees, fines and penalties	633	604	3,012	2,946
Sales of goods and services	955	955	1,909	1,845
Investment income	5,144	5,104	1,279	1,372
Other revenue	737	725	20,513	20,587
Total Revenue	60,880	60,241	26,713	26,750
Expenses by Input Type
Subsidies and transfer payments	16,447	16,579	1,967	1,959
Personnel expenses	5,508	5,497	8,137	7,897
Operating expenses	29,949	29,472	13,925	14,394
Finance costs	2,653	2,553	337	307
Net Foreign exchange losses/(gains)	105	90	107	44
GSF and ACC liability revaluation movements	(920)	323	1,020	1,742
Total Expenses	53,742	54,514	25,493	26,343
Expenses by Functional Classification
Social security and welfare	16,853	16,920	3,776	4,525
Health	10,327	10,492	8,986	8,812
Education	9,289	9,530	6,913	6,890
Other functional classifications	14,515	15,349	5,374	5,765
Forecast for future new spending and top-down adjustment	-	(420)	-	-
Finance costs and net FX losses/(gains)	2,758	2,643	444	351
Total expenses	53,742	54,514	25,493	26,343
Net surplus of TEIs	-	(10)	120	62
Minority interest	-	-	-	-
Operating balance	7,138	5,717	1,340	469

Statement of Financial Position (institutional form)

as at 30 June 2007 (actual to forecast)

	Core Crown		Crown entities
	Actual 2007	Estimated Actual	Actual 2007	Estimated Actual
	$m	$m	$m	$m
Assets
Financial assets	49,036	48,192	18,614	18,847
Physical assets	26,432	26,279	41,504	38,970
Investment in SOEs & Crown entities (including TEIs)	24,450	24,776	6,305	5,586
Other assets	11,076	10,457	2,703	2,308
Total Assets	110,994	109,704	69,126	65,711
Liabilities
Borrowings	35,450	35,875	4,285	4,394
Other liabilities	27,651	27,955	18,231	18,675
Total Liabilities	63,101	63,830	22,516	23,069
Net Worth	47,893	45,874	46,610	42,642
Taxpayer funds	36,089	34,678	22,704	21,883
Revaluation reserves	11,804	11,196	23,906	20,759
Minority interest	-	-	-	-
Net Worth	47,893	45,874	46,610	42,642
Analysis of Financial Assets and Borrowings
Advances and cash	10,214	9,187	2,508	2,423
MSDs and equity investments	38,822	39,005	16,106	16,424
Total Financial Assets	49,036	48,192	18,614	18,847
Borrowings - Sovereign guaranteed	35,450	35,875	-	-
Borrowings - Non-sovereign guaranteed	-	-	4,285	4,394
Total Borrowings	35,450	35,875	4,285	4,394
Borrowings less Financial Assets	(13,586)	(12,317)	(14,329)	(14,453)
Net core Crown Debt	3,433	4,612	Net core Crown debt and gross sovereign-issued debt differ from the analysis above due to elimination of cross-holdings of Govt stock and adding back the NZS Fund and GSF assets.
Gross Sovereign-Issued Debt	36,150	37,217

Statement of Segments (continued)

Statement of Financial Performance (institutional form)

for the year ended 30 June 2007 (actual to forecast)

	Current Year Actual vs Forecast
	SOE's		Inter-segment elimins		Total Crown
	Actual 2007	Estimated Actual	Actual 2007	Estimated Actual	Actual 2007	Estimated Actual
	$m	$m	$m	$m	$m	$m
Revenue
Taxation revenue	-	-	(473)	(575)	52,938	52,278
Levies, fees, fines and penalties	-	-	(77)	(42)	3,568	3,508
Sales of goods and services	10,908	10,921	(687)	(610)	13,085	13,111
Investment income	504	513	(1,108)	(1,182)	5,819	5,807
Other revenue	618	770	(19,712)	(19,844)	2,156	2,238
Total Revenue	12,030	12,204	(22,057)	(22,253)	77,566	76,942
Expenses by Input Type
Subsidies and transfer payments	-	-	(107)	(108)	18,307	18,430
Personnel expenses	2,008	1,964	(6)	(6)	15,647	15,352
Operating expenses	8,814	8,638	(20,910)	(20,986)	31,778	31,518
Finance costs	552	633	(473)	(470)	3,069	3,023
Net Foreign exchange losses/(gains)	(96)	(96)	-	-	116	38
GSF and ACC liability revaluation movements	-	-	-	-	100	2,065
Total Expenses	11,278	11,139	(21,496)	(21,570)	69,017	70,426
Expenses by Functional Classification
Social security and welfare	-	-	(390)	(382)	20,239	21,063
Health	-	-	(9,381)	(9,267)	9,932	10,037
Education	24	23	(6,390)	(6,402)	9,836	10,041
Other functional classifications	10,798	10,579	(4,862)	(5,049)	25,825	26,644
Forecast for future new spending and top-down adjustment	-	-	-	-	-	(420)
Finance costs and net FX losses/(gains)	456	537	(473)	(470)	3,185	3,061
Total expenses	11,278	11,139	(21,496)	(21,570)	69,017	70,426
Net surplus of TEIs	-	-	-	-	120	52
Minority interest	(6)	-	-	-	(6)	-
Operating balance	746	1,065	(561)	(683)	8,663	6,568

Statement of Financial Position (institutional form)

as at 30 June 2007 (actual to forecast)

	SOE's		Inter-segment elimins		Total Crown
	Actual 2007	Estimated Actual	Actual 2007	Estimated Actual	Actual 2007	Estimated Actual
	$m	$m	$m	$m	$m	$m
Assets
Financial assets	6,888	7,028	(8,154)	(8,379)	66,384	65,688
Physical assets	28,607	28,009	-	-	96,543	93,258
Investment in SOEs & Crown entities (including TEIs)	-	-	(24,450)	(24,776)	6,305	5,586
Other assets	2,713	2,506	(748)	(690)	15,744	14,581
Total Assets	38,208	37,543	(33,352)	(33,845)	184,976	179,113
Liabilities
Borrowings	9,804	10,477	(8,154)	(8,379)	41,385	42,367
Other liabilities	3,272	3,037	(1,399)	(1,381)	47,755	48,286
Total Liabilities	13,076	13,514	(9,553)	(9,760)	89,140	90,653
Net Worth	25,132	24,029	(23,799)	(24,085)	95,836	88,460
Taxpayer funds	7,111	7,546	(23,764)	(24,085)	42,140	40,022
Revaluation reserves	17,617	16,190	-	-	53,327	48,145
Minority interest	404	293	(35)	-	369	293
Net Worth	25,132	24,029	(23,799)	(24,085)	95,836	88,460
Analysis of Financial Assets and Borrowings
Advances and cash	5,340	5,396	(3,167)	(3,333)	14,895	13,673
MSDs and equity investments	1,548	1,632	(4,987)	(5,046)	51,489	52,015
Total Financial Assets	6,888	7,028	(8,154)	(8,379)	66,384	65,688
Borrowings - sovereign guaranteed	-	-	(5,097)	(5,056)	30,353	30,819
Borrowings - non-sovereign guaranteed	9,804	10,477	(3,057)	(3,323)	11,032	11,548
Total Borrowings	9,804	10,477	(8,154)	(8,379)	41,385	42,367
Borrowings less Financial Assets	2,916	3,449	-	-	(24,999)	(23,321)

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