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Introduction
These financial statements[1] contain the audited results for the financial year ended 30 June 2012. The results are compared against previous years, and against two sets of forecasts:
- Forecasts for 2011/12 as published in the 2011 Budget Economic and Fiscal Update, and
- Forecasts for 2011/12 as published in the 2012 Budget Economic and Fiscal Update (the “forecast”).
This commentary should be read in conjunction with the financial statements on pages 34 to 173.
Notes
- [1]The Financial Statements of the Government of New Zealand refer to both core Crown and total Crown results. Core Crown is comprised of Ministers, Departments, Offices of Parliament, the NZS Fund and the Reserve Bank of New Zealand. Total Crown is comprised of the core Crown, State-owned enterprises and Crown entities.
