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Financial Statements

Statement of Financial Performance

for the year ended 30 June 2008

Statement of Financial Performance for the year ended 30 June 2008
Forecast Actual
Original
Budget
$m 		Estimated
Actuals
$m 		Note 30 June 2008
$m 		30 June 2007
$m
Revenue  
54,173 56,186 Taxation revenue 2 56,372 53,064
3,693 3,851 Other sovereign revenue 2 3,879 3,496
57,866 60,037 Total revenue levied through the Crown's sovereign power 60,251 56,560
13,253 13,682 Sales of goods and services 3 15,399 12,613
3,366 3,203 Interest revenue and dividends 4 3,214 2,995
2,387 2,891 Other revenue 5 2,615 2,421
19,006 19,776 Total revenue earned through operations 21,228 18,029
76,872 79,813 Total revenue (excluding gains) 81,479 74,589
Expenses  
17,892 18,520 Transfer payments and subsidies 6 18,374 16,346
15,657 16,422 Personnel expenses 7 16,478 15,284
3,296 3,618 Depreciation and amortisation 8 3,670 3,397
28,997 29,217 Other operating expenses 9 30,656 27,842
2,748 2,954 Interest expenses 10 3,101 2,885
3,010 4,095 Insurance expenses 11 3,563 2,975
314 -  Forecast new operating spending -  - 
-  (240) Top-down expense adjustment -  - 
71,914 74,586 Total expenses (excluding losses) 75,842 68,729
4,958 5,227 Operating balance before gains/(losses) 5,637 5,860
1,377 (824) Net gains/(losses) on financial instruments 12 (617) 1,565
-  (2,007) Net gains/(losses) on non-financial instruments 13 (2,925) 486
1,377 (2,831) Total gains/(losses) (3,542) 2,051
96 166 Net surplus/(deficit) from associates and joint ventures 334 191
6,431 2,562 Operating balance from continuing activities 2,429 8,102
-  (3) Gain/(loss) from discontinued operations 22 (92)
6,431 2,559 Operating balance (including minority interest) 2,451 8,010
-  -  Operating balance attributable to minority interest in
Air New Zealand		 (67) 12
6,431 2,559 Operating balance 2,384 8,022

The accompanying Notes and Accounting Policies are an integral part of these Statements.

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