Additional Statements on Core Crown
Core Crown Cash Flow Reconciliation to Government Stock Issues (for the year ended 30 June 2007)
| Forecast | Actual | |||
|---|---|---|---|---|
|
Original |
Estimated |
30 June |
30 June |
|
| $m | $m | $m | $m | |
| Reconciliation of Net Core Crown Cash Flow from Operations with Net Cash Proceeds from Domestic Bonds | ||||
| This statement outlines the core Crown bonds reconciliation. Government stock balances and flows between NZDMO, the NZS Fund and the GSF are not eliminated. This presents the complete activity of the NZDMO bond programme. |
||||
| Core Crown Cash Flows from Operations | ||||
| 51,499 | 52,868 | Total tax receipts | 53,321 | 50,507 |
| 503 | 463 | Total other sovereign receipts | 476 | 539 |
| 1,035 | 2,147 | Interest, profits and dividends | 1,991 | 1,893 |
| 1,387 | 1,606 | Sales of goods and services and other receipts | 1,356 | 1,449 |
| (16,820) | (16,622) | Subsidies and transfer payments | (16,454) | (15,357) |
| (30,815) | (30,750) | Personnel and operating costs | (29,930) | (28,167) |
| (1,781) | (2,200) | Finance costs | (2,226) | (2,005) |
| (320) | (80) | Forecasts for future new spending | - | - |
| - | 500 | Top-down expense adjustment | - | - |
| 4,688 | 7,932 | Net Cash Flows from Operations | 8,534 | 8,859 |
| Investing Flows | ||||
| Net advances | ||||
| - | - | Student loans | (658) | (674) |
| - | - | Housing New Zealand Corporation | (301) | (44) |
| - | - | District health boards and RHMU | (220) | (105) |
| - | - | Tranz Rail New Zealand Limited | (80) | (57) |
| (957) | (1,266) | Other | 72 | 58 |
| (957) | (1,266) | Total Net Advances | (1,187) | (822) |
| (1,953) | (2,141) | Net Purchase of Physical Assets | (1,806) | (1,826) |
| Net investments | ||||
| - | - | District health boards | 11 | (46) |
| - | - | Housing New Zealand Corporation | (149) | (216) |
| (441) | (456) | Other | (206) | (127) |
| (2,049) | (2,049) | Contributions to the NZS Fund | (2,049) | (2,337) |
| (500) | (500) | Purchase of Reserve Bank reserves | (500) | (500) |
| (256) | - | Forecast new capital spending | - | - |
| - | 200 | Top-down capital adjustment | - | - |
| (3,246) | (2,805) | Net (Purchase)/Sale of Investments | (2,893) | (3,226) |
| (1,468) | 1,720 | Available for Debt Repayment/(Required to be Financed) | 2,648 | 2,985 |
| Financing Activity | ||||
| 2,493 | (5,728) | Other net sale/(purchase) of marketable securities and deposits | (4,208) | (2,039) |
| (1,132) | 4,437 | Net issue/(repayment) of other New Zealand-dollar borrowing | 2,539 | 419 |
| 502 | (497) | Net (repayment)/issue of foreign currency borrowing | (228) | (1,801) |
| (23) | (76) | Net (inflows)/outflows of cash | (508) | 105 |
| - | 272 | Issues of circulating currency | 91 | 165 |
| 372 | 128 | Net Cash Inflows/(Outflows) to be Offset by Domestic Bonds | 334 | (166) |
| Gross Cash Proceeds from Domestic Bonds | ||||
| 2,438 | 2,511 | Domestic bonds (market) | 2,294 | 2,375 |
| 406 | 559 | Domestic bonds (non-market) | 570 | 740 |
| 2,844 | 3,070 | Total Gross Cash Proceeds from Domestic Bonds | 2,864 | 3,115 |
| (2,777) | (2,777) | Repayment of domestic bonds (market) | (2,777) | (2,574) |
| (439) | (421) | Repayment of domestic bonds (non-market) | (421) | (375) |
| (372) | (128) | Net (Repayments of)/Cash Proceeds from Domestic Bonds | (334) | 166 |
