Fiscal Indicator Analysis - Core Crown Residual Cash
for the year ended 30 June 2009
| Forecast | Actual | |||
|---|---|---|---|---|
|
Original Budget $m |
Estimated Actuals $m |
30 June 2009 $m |
30 June 2008 $m |
|
Core Crown Cash Flows from Operations |
||||
| 55,599 | 52,488 | Total tax receipts | 51,362 | 55,975 |
| 530 | 503 | Total other sovereign receipts | 489 | 486 |
| 2,232 | 1,417 | Interest, profits and dividends | 1,441 | 2,128 |
| 1,658 | 2,203 | Sale of goods & services and other receipts | 2,288 | 1,411 |
| (21,068) | (22,087) | Subsidies and transfer payments | (19,953) | (19,562) |
| (34,224) | (33,781) | Personnel and operating costs | (35,394) | (30,792) |
| (2,282) | (2,284) | Finance costs | (2,200) | (2,354) |
| (249) | - | Forecast for future new operating spending | - | - |
| 355 | 400 | Top-down expense adjustment | - | - |
| 2,551 | (1,141) | Net cash flows from core Crown operations | (1,967) | 7,292 |
| (1,891) | (1,778) | Net purchase of physical assets | (1,625) | (1,433) |
| (821) | (1,640) | Net increase in advances | (860) | (1,254) |
| (1,164) | (1,932) | Net purchase of investments | (1,944) | (444) |
| (2,242) | (2,242) | Contribution to NZ Superannuation Fund | (2,243) | (2,104) |
| (261) | - | Forecast for future new capital spending | - | - |
| 350 | 275 | Top-down capital adjustment | - | - |
| (3,478) | (8,458) | Residual cash | (8,639) | 2,057 |
| Financed by: | ||||
| 2,643 | (4,335) | Other net sale/(purchase) of marketable securities and deposits | (512) | (3,595) |
| (835) | (12,793) | Total operating and investing activities | (9,151) | (1,538) |
| Used in: | ||||
| 399 | 16,266 | Net (repayment)/issue of other New Zealand dollar borrowing | 9,359 | (1,585) |
| (541) | (6,069) | Net (repayment)/issue of foreign currency borrowing | (1,973) | 901 |
| 181 | 509 | Issues of circulating currency | 475 | 86 |
| (29) | (1,143) | Decrease/(increase) in cash | (1,761) | 249 |
| 10 | 9,563 | 6,100 | (349) | |
| (825) | (3,230) | Net cash inflow/(outflow) to be offset by domestic bonds | (3,051) | (1,887) |
Gross Cash Proceeds from Domestic Bonds |
||||
| 3,314 | 5,852 | Domestic bonds (market) | 5,775 | 1,757 |
| 662 | 593 | Domestic bonds (non-market) | 541 | 130 |
| 3,976 | 6,445 | Total gross cash proceeds from domestic bonds | 6,316 | 1,887 |
| (2,700) | (2,700) | Repayment of domestic bonds (market) | (2,750) | - |
| (451) | (515) | Repayment of domestic bonds (non-market) | (515) | - |
| (3,151) | (3,215) | Total repayments of domestic bonds | (3,265) | - |
| 825 | 3,230 | Net (repayments of)/cash proceeds from domestic bonds | 3,051 | 1,887 |
This note illustrates how the financial activities of the core Crown reported in the financial statements relate to the Domestic Bond Programme.
