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Introduction

These financial statements[1] contain the audited results for the financial year ended 30 June 2016. The results are compared against previous years and against two sets of forecastsfor the 2015/16 year:

  • Budget 2015 refers to the 2015 Budget Economic and Fiscal Update, and
  • Budget 2016 refers to the 2016 Budget Economic and Fiscal Update.

This commentary should be read in conjunction with the financial statements on pages 34 to 140.

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 (including mixed ownership model companies) and Crown entities.
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