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Financial Statements of the Government of New Zealand for the Year Ended 30 June 2009

Historical Financial Information

Historical Financial Information
Year ended 30 June
$ million 		2000
Actual 		2001
Actual 		2002
Actual 		2003
Actual 		2004
Actual 		2005
Actual 		2006
Actual 		2007
Actual 		2008
Actual 		2009
Actual

Statement of financial performance

 
Core Crown tax revenue 32,598 35,345 36,809 40,518 43,358 47,468 50,973 53,477 56,747 54,681
Core Crown other revenue 2,348 2,497 3,136 2,922 2,861 3,577 4,762 4,734 5,072 4,801
Core Crown revenue 34,946 37,842 39,945 43,440 46,219 51,045 55,735 58,211 61,819 59,482
Crown entities, SOE revenue and eliminations 6,666 7,259 10,003 13,170 13,051 14,322 15,690 16,378 19,660 20,446
Total Crown revenue 41,612 45,101 49,948 56,611 59,271 65,367 71,425 74,589 81,479 79,928
Social security and welfare 12,883 13,207 13,485 13,907 14,252 14,682 15,598 16,768 17,877 19,382
Health 6,146 6,660 7,032 7,501 8,111 8,813 9,547 10,355 11,297 12,368
Education 5,712 6,136 6,473 7,016 7,585 7,930 9,914 9,269 9,551 11,455
Core government services 1,992 2,148 1,890 2,130 2,091 2,567 2,507 4,817 3,371 5,293
Other core Crown expenses 8,096 8,408 8,633 9,343 9,843 10,903 11,754 12,795 14,901 15,504
Core Crown expenses 34,829 36,559 37,513 39,897 41,882 44,895 49,320 54,004 56,997 64,002
Crown entities, SOE expenses and eliminations 6,189 7,120 9,964 12,347 11,816 13,397 15,015 14,725 18,845 19,819
Total Crown expenses 41,018 43,679 47,476 52,245 53,698 58,292 64,334 68,729 75,842 83,821
OBEGAL 594 1,422 2,471 4,366 5,573 7,075 7,091 5,860 5,637 (3,893)
Gains/(losses) 811 (214) (185) (2,745) 1,736 (1,144) 2,451 2,162 (3,253) (6,612)
Operating balance 1,405 1,208 2,286 1,621 7,309 5,931 9,542 8,022 2,384 (10,505)

Statement of financial position

 
Property, plant and equipment 43,609 45,954 50,536 52,667 57,940 67,494 89,141 95,598 103,329 110,135
Financial assets 18,756 21,419 22,497 27,799 32,654 42,005 66,396 73,718 85,063 93,359
Other assets 11,459 11,467 14,846 18,461 18,756 19,714 9,503 11,031 12,443 13,657
Total assets 73,824 78,840 87,879 98,927 109,351 129,212 165,040 180,347 200,835 217,151
Borrowings 37,527 38,130 38,492 39,327 37,720 37,728 40,027 41,898 46,110 61,953
Other liabilities 23,692 25,260 26,562 31,588 32,036 37,243 41,042 41,622 49,211 55,683
Total liabilities 61,219 63,390 65,055 70,915 69,756 74,972 81,069 83,520 95,321 117,636
Net worth 12,605 15,450 22,825 28,012 39,595 54,240 83,971 96,827 105,514 99,515

Fiscal Indicators

 
Core Crown tax revenue 32,598 35,345 36,809 40,518 43,358 47,468 50,973 53,477 56,747 54,681
Core Crown expenses 34,829 36,559 37,513 39,897 41,882 44,895 49,320 54,004 56,997 64,002
Operating balance before gains and losses 594 1,422 2,471 4,366 5,573 7,075 7,091 5,860 5,637 (3,893)
Operating balance 1,405 1,208 2,286 1,621 7,309 5,931 9,542 8,022 2,384 (10,505)
Net debt 25,895 24,908 25,388 24,531 23,858 19,879 16,163 13,380 10,258 17,119
Gross debt 36,580 37,194 36,650 36,617 36,017 35,478 33,903 30,647 31,390 43,356
Net worth 12,605 15,450 22,825 28,012 39,595 54,240 83,971 96,827 105,514 99,515
Historical Financial Information (continued)
Year ended 30 June
as % of GDP 		2000
Actual 		2001
Actual 		2002
Actual 		2003
Actual 		2004
Actual 		2005
Actual 		2006
Actual 		2007
Actual 		2008
Actual 		2009
Actual
GDP 111,044 118,360 125,818 132,754 143,167 152,014 158,629 169,135 179,227 180,210

Statement of financial performance

 
Core Crown tax revenue 29.4% 29.9% 29.3% 30.5% 30.3% 31.2% 32.1% 31.6% 31.7% 30.3%
Core Crown other revenue 2.1% 2.1% 2.5% 2.2% 2.0% 2.4% 3.0% 2.8% 2.8% 2.7%
Core Crown revenue 31.5% 32.0% 31.7% 32.7% 32.3% 33.6% 35.1% 34.4% 34.5% 33.0%
Crown entities, SOE and elimination revenue 6.0% 6.1% 8.0% 9.9% 9.1% 9.4% 9.9% 9.7% 11.0% 11.3%
Total Crown revenue 37.5% 38.1% 39.7% 42.6% 41.4% 43.0% 45.0% 44.1% 45.5% 44.4%
Social security and welfare 11.6% 11.2% 10.7% 10.5% 10.0% 9.7% 9.8% 9.9% 10.0% 10.8%
Health 5.5% 5.6% 5.6% 5.7% 5.7% 5.8% 6.0% 6.1% 6.3% 6.9%
Education 5.1% 5.2% 5.1% 5.3% 5.3% 5.2% 6.2% 5.5% 5.3% 6.4%
Core government services 1.8% 1.8% 1.5% 1.6% 1.5% 1.7% 1.6% 2.8% 1.9% 2.9%
Other core Crown expenses 7.3% 7.1% 6.9% 7.0% 6.9% 7.2% 7.4% 7.6% 8.3% 8.6%
Core Crown expenses 31.4% 30.9% 29.8% 30.1% 29.3% 29.5% 31.1% 31.9% 31.8% 35.5%
Crown entities, SOE and elimination expenses 5.6% 6.0% 7.9% 9.3% 8.3% 8.8% 9.5% 8.7% 10.5% 11.0%
Total Crown expenses 36.9% 36.9% 37.7% 39.4% 37.5% 38.3% 40.6% 40.6% 42.3% 46.5%
OBEGAL 0.5% 1.2% 2.0% 3.3% 3.9% 4.7% 4.5% 3.5% 3.1% -2.2%
Gains/(losses) 0.7% -0.2% -0.1% -2.1% 1.2% -0.8% 1.5% 1.3% -1.8% -3.7%
Operating balance 1.3% 1.0% 1.8% 1.2% 5.1% 3.9% 6.0% 4.7% 1.3% -5.8%

Statement of financial position

 
Property, plant and equipment 39.3% 38.8% 40.2% 39.7% 40.5% 44.4% 56.2% 56.5% 57.7% 61.1%
Financial assets 16.9% 18.1% 17.9% 20.9% 22.8% 27.6% 41.9% 43.6% 47.5% 51.8%
Other assets 10.3% 9.7% 11.8% 13.9% 13.1% 13.0% 6.0% 6.5% 6.9% 7.6%
Total assets 66.5% 66.6% 69.8% 74.5% 76.4% 85.0% 104.0% 106.6% 112.1% 120.5%
Borrowings 33.8% 32.2% 30.6% 29.6% 26.3% 24.8% 25.2% 24.8% 25.7% 34.4%
Other liabilities 21.3% 21.3% 21.1% 23.8% 22.4% 24.5% 25.9% 24.6% 27.5% 30.9%
Total liabilities 55.1% 53.6% 51.7% 53.4% 48.7% 49.3% 51.1% 49.4% 53.2% 65.3%
Net worth 11.4% 13.1% 18.1% 21.1% 27.7% 35.7% 52.9% 57.2% 58.9% 55.2%

Fiscal Indicators

 
Core Crown revenue (excl NZS Fund) 29.4% 29.9% 29.3% 30.5% 30.3% 31.2% 32.1% 31.6% 31.7% 30.3%
Core Crown expenses 31.4% 30.9% 29.8% 30.1% 29.3% 29.5% 31.1% 31.9% 31.8% 35.5%
Operating balance before gains and losses 0.5% 1.2% 2.0% 3.3% 3.9% 4.7% 4.5% 3.5% 3.1% -2.2%
Operating balance 1.3% 1.0% 1.8% 1.2% 5.1% 3.9% 6.0% 4.7% 1.3% -5.8%
Net debt 23.3% 21.0% 20.2% 18.5% 16.7% 13.1% 10.2% 7.9% 5.7% 9.5%
Gross debt 32.9% 31.4% 29.1% 27.6% 25.2% 23.3% 21.4% 18.1% 17.5% 24.1%
Net worth 11.4% 13.1% 18.1% 21.1% 27.7% 35.7% 52.9% 57.2% 58.9% 55.2%
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