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Introduction

These financial statements[1] contain the audited results for the financial year ended 30 June 2014. The results are compared against previous years and against two sets of forecasts[2]for the 2013/14 year:

  • Budget 13 refers to the 2013 Budget Economic and Fiscal Update, and
  • Budget 14 refers to the 2014 Budget Economic and Fiscal Update.

This commentary should be read in conjunction with the financial statements on pages 28 to 167.

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 of the Crown, 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.
  • [2]Comparisons against the Pre-election Economic and Fiscal Update (Pre-election Update) are available on page 9.
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