Information on State-owned Enterprises and Crown Entities
Accounting policies
The Crown's financial interest in State-owned entities (“SOE's”) and Crown entities (“CE's”) is reported in accordance with the Crown's accounting policies. Adjustments have been made to restate the financial position and financial performance of certain entities, as reported in their own financial statements, to a basis consistent with the Crown's accounting policies.
With the exception of Tertiary Education Institutions (“TEI's”) the Crown has line-by-line combined all SOE's and Crown entities.
The Crown has equity accounted 100% of the net assets of TEI's on the basis that, in the event of disestablishment of a TEI (which is subject to a resolution of the House), 100% of the net assets revert to the Crown in the absence of a decision to transfer the assets to a new or existing institution and, in the meantime, the Crown enjoys the benefits of the provision of a higher education to the public of New Zealand (refer note 21).
Minority interests
The ownership interest in Air New Zealand Limited is 76.07% (2007: 76.50%). The interest in Air New Zealand Limited is included within the SOE segment.
Balance dates
Except for those entities listed below, all SOEs and significant CE's have a balance date of 30 June, and the information reported in these financial statements is for the period ended 30 June 2008:
|
|
Balance date | Information reported to |
|---|---|---|
| SOE's | ||
| AsureQuality Limited | 30 September | 30 June 2008 |
| Crown entities: | ||
| School boards of trustees | 31 December | 31 December 2007 |
| TEI's | 31 December | 30 June 2008 |
