Fiscal Indicator Analysis − Core Crown Residual Cash
for the year ended 30 June 2010
| Forecast | Actual | |||
|---|---|---|---|---|
|
Original Budget $m |
Estimated Actuals $m |
30 June 2010 $m |
30 June 2009 $m |
|
Core Crown Cash Flows from Operations |
||||
| 50,742 | 50,668 | Total tax receipts | 50,631 | 51,362 |
| 678 | 566 | Total other sovereign receipts | 566 | 489 |
| 1,338 | 1,791 | Interest, profits and dividends | 1,897 | 1,441 |
| 1,943 | 2,936 | Sale of goods & services and other receipts | 2,658 | 2,288 |
| (21,536) | (21,713) | Subsidies and transfer payments | (21,605) | (19,953) |
| (37,724) | (37,660) | Personnel and operating costs | (37,157) | (35,394) |
| (2,159) | (1,946) | Finance costs | (1,981) | (2,200) |
| (254) | - | Forecast for future new operating spending | - | - |
| 300 | 455 | Top-down expense adjustment | - | - |
| (6,672) | (4,903) | Net cash flows from core Crown operations | (4,991) | (1,967) |
| (2,375) | (2,143) | Net purchase of physical assets | (1,778) | (1,625) |
| (953) | (974) | Net increase in advances | (926) | (860) |
| (1,643) | (925) | Net purchase of investments | (1,055) | (1,944) |
| (250) | (250) | Contribution to NZ Superannuation Fund | (250) | (2,243) |
| (72) | - | Forecast for future new capital spending | - | - |
| 100 | 125 | Top-down capital adjustment | - | - |
| (11,865) | (9,070) | Residual cash | (9,000) | (8,639) |
Financed by: |
||||
| 4,579 | (994) | Other net sale/(purchase) of marketable securities and deposits | 2,002 | (512) |
| (7,286) | (10,064) | Total operating and investing activities | (6,998) | (9,151) |
Used in: |
||||
| 6,056 | 1,987 | Net (repayment)/issue of other New Zealand dollar borrowing | (3,938) | 9,359 |
| (3,783) | (799) | Net (repayment)/issue of foreign currency borrowing | 3,368 | (1,973) |
| 181 | 34 | Issues of circulating currency | 15 | 475 |
| (116) | 21 | Decrease/(increase) in cash | (817) | (1,761) |
| 2,338 | 1,243 | (1,372) | 6,100 | |
| (4,948) | (8,821) | Net cash inflow/(outflow) to be offset by domestic bonds | (8,370) | (3,051) |
Gross Cash Proceeds from Domestic Bonds |
||||
| 8,919 | 12,869 | Domestic bonds (market) | 12,424 | 5,775 |
| 948 | 805 | Domestic bonds (non-market) | 799 | 541 |
| 9,867 | 13,674 | Total gross cash proceeds from domestic bonds | 13,223 | 6,316 |
| (4,247) | (4,197) | Repayment of domestic bonds (market) | (4,197) | (2,750) |
| (672) | (656) | Repayment of domestic bonds (non-market) | (656) | (515) |
| (4,919) | (4,853) | Total repayments of domestic bonds | (4,853) | (3,265) |
| 4,948 | 8,821 | Net (repayments of)/cash proceeds from domestic bonds | 8,370 | 3,051 |
This note illustrates how the financial activities of the core Crown reported in the financial statements relate to the Domestic Bond Programme.
