Notes to the Financial Statements (continued)
| Forecast | Actual | |||
|---|---|---|---|---|
|
Original Budget $m |
Estimated Actuals $m |
30 June 2008 $m |
30 June 2007 $m |
|
| By type | ||||
| 32,421 | 33,306 | Marketable securities | 36,651 | 27,481 |
| 2,037 | 1,741 | Long term deposits | 2,787 | 3,174 |
| 464 | 1,167 | Derivatives in gain | 1,563 | 2,352 |
| 212 | 151 | IMF special drawing rights | 188 | 183 |
| 35,134 | 36,365 | Total marketable securities, deposits and derivatives in gain | 41,189 | 33,190 |
| By maturity | ||||
| 30,127 | 34,460 | Expected to be realised within one year | 37,431 | 31,600 |
| 5,007 | 1,905 | Expected to be held for more than one year | 3,758 | 1,590 |
| 35,134 | 36,365 | Total marketable securities, deposits and derivatives in gain | 41,189 | 33,190 |
| By source | ||||
| 27,859 | 28,809 | Core Crown | 32,108 | 26,291 |
| 11,595 | 10,210 | Crown entities | 10,790 | 9,881 |
| 1,296 | 2,124 | State-owned Enterprises | 3,029 | 2,150 |
| (5,616) | (4,778) | Inter-segment eliminations | (4,738) | (5,132) |
| 35,134 | 36,365 | Total marketable securities, deposits and derivatives in gain | 41,189 | 33,190 |
Marketable securities comprise bonds, commercial paper, debentures and similar tradable financial assets held by the Government for the purposes of realising capital gains or interest revenue. Marketable securities and derivatives in gain are reported at their fair value. Fair value is either based on quoted market price or using a valuation model where there is no active market. The valuation models used generally calculate the expected cash flows under the terms of each specific contract and then discounts these values back to present value.
Long-term deposits are instruments with maturities greater than three months that are not traded in an active market. Long-term deposits are measured at amortised cost. Their carrying amount provides a reasonable approximation of their fair value.
| Forecast | Actual | |||
|---|---|---|---|---|
|
Original Budget $m |
Estimated Actuals $m |
30 June 2008 $m |
30 June 2007 $m |
|
| By maturity | ||||
| 12,590 | 8,624 | Expected to be realised within one year | 8,934 | 9,401 |
| 4,396 | 3,912 | Expected to be held for more than one year | 4,030 | 4,180 |
| 16,986 | 12,536 | Total share investments | 12,964 | 13,581 |
| By source | ||||
| 10,734 | 7,133 | Core Crown | 7,340 | 7,755 |
| 6,174 | 5,373 | Crown entities | 5,583 | 5,784 |
| 84 | 67 | State-owned Enterprises | 63 | 85 |
| (6) | (37) | Inter-segment eliminations | (22) | (43) |
| 16,986 | 12,536 | Total share investments | 12,964 | 13,581 |
Share investments are reported at fair value. The fair value of listed share investments are based on quoted market price. The fair value of unlisted share investments is determined from the initial cost of the investment and adjusted for performance of the business and changes in equity market conditions since inception date.
