Fiscal Indicator Analysis - Core Crown ResidualCash
for the year ended 30 June 2008
| Forecast |
|
Actual | ||
|---|---|---|---|---|
|
Original Budget $m |
Estimated Actuals $m |
|
30 June 2008 $m |
30 June 2007 $m |
|
|
|
Core Crown Cash Flows from Operations |
|
|
| 55,121 | 56,392 | Total tax receipts | 55,975 | 53,278 |
| 477 | 494 | Total other sovereign receipts | 486 | 395 |
| 1,857 | 1,980 | Interest, profits and dividends | 2,128 | 1,896 |
| 1,472 | 1,654 | Sale of goods & services and other receipts | 1,411 | 1,433 |
| (18,789) | (19,931) | Subsidies and transfer payments | (19,562) | (17,234) |
| (32,610) | (31,478) | Personnel and operating costs | (30,792) | (28,962) |
| (2,176) | (2,333) | Finance costs | (2,354) | (2,220) |
| (314) | - | Forecast for future new operating spending | - | - |
| - | 240 | Top-down expense adjustment | - | - |
| 5,038 | 7,018 | Net cash flows from core Crown operations | 7,292 | 8,586 |
| (1,803) | (1,544) | Net purchase of physical assets | (1,433) | (1,755) |
| (1,088) | (1,254) | Net increase in advances | (1,254) | (1,125) |
| (636) | (519) | Net purchase of investments | (444) | (365) |
| (2,103) | (2,103) | Contribution to NZ Superannuation Fund | (2,104) | (2,048) |
| (200) | - | Purchase of Reserve Bank reserves | - | (500) |
| (184) | (690) | Top-down capital adjustment | - | - |
| (976) | 908 | Residual cash | 2,057 | 2,793 |
|
|
|
Financed by: |
|
|
| (1,649) | (2,863) | Other net sale/(purchase) of marketable securities and deposits | (3,595) | (4,956) |
| (2,625) | (1,955) | Total operating and investing activities | (1,538) | (2,163) |
|
|
|
Used in: |
|
|
| 709 | 167 | Net (repayment)/issue of other New Zealand dollar borrowing | (1,585) | 1,120 |
| (993) | (504) | Net (repayment)/issue of foreign currency borrowing | 901 | 1,775 |
| 178 | 260 | Issues of circulating currency | 86 | 81 |
| 3 | (572) | Decrease/(increase) in cash | 249 | (479) |
| (103) | (649) |
|
(349) | 2,497 |
| (2,728) | (2,604) | Net cash inflow/(outflow) to be offset by domestic bonds | (1,887) | 334 |
|
|
|
Gross Cash Proceeds from Domestic Bonds |
|
|
| 2,520 | 2,415 | Domestic bonds (market) | 1,757 | 2,294 |
| 208 | 189 | Domestic bonds (non-market) | 130 | 570 |
| 2,728 | 2,604 | Total gross cash proceeds from domestic bonds | 1,887 | 2,864 |
| - | - | Repayment of domestic bonds (market) | - | (2,777) |
| - | - | Repayment of domestic bonds (non-market) | - | (421) |
| - | - | Total repayments of domestic bonds | - | (3,198) |
| 2,728 | 2,604 | Net (repayments of)/cash proceeds from domestic bonds | 1,887 | (334) |
This note illustrates how the financial activities of the core Crown reported in the financial statements relate to the Domestic Bond Programme.
