Financial Statements – Departmental
Overview of Departmental Financial Results
for the year ended 30 June 2009
The following significant movements in actual results between the 2008/09 and 2007/08 years, and actual results against the 2008/09 Supplementary Estimates budget, are explained below:
|
2008 Actual $000 |
2009 Actual $000 |
2009 Supp. Estimates $000 |
|
|---|---|---|---|
Revenue |
|||
| 55,893 | Crown | 59,687 | 62,108 |
Expenses |
|||
| 38,489 | Personnel | 40,887 | 41,704 |
Current Assets |
|||
| 1,650 | Accounts receivable | 627 | 510 |
Non-current Assets |
|||
| 4,734 | Property, plant and equipment | 4,604 | 4,800 |
| 571 | Intangible assets | 718 | 799 |
Current Liabilities |
|||
| 5,085 | Creditors and other payables | 5,239 | 4,450 |
| 4,768 | Provision for employee entitlements | 4,542 | 5,053 |
Non-current Liabilities |
|||
| 223 | Provision for employee entitlements | 1,151 | 230 |
Significant Movements Between 2007/08 and 2008/09
Revenue Crown for departmental outputs increased by $3.8 million, mainly owing to an underspend of $0.6 million in 2007/08 and increased funding for the Crown Deposit Guarantee Scheme, Wholesale Funding Guarantee Facility and NZECO for 2008/09.
Personnel increased by $2.4 million mainly owing to market or performance increases in salaries and growth in annual leave liability.
Accounts receivable has decreased by $1 million mainly owing to 2007/08 recovery of costs from other departments for work undertaken by the Treasury on the Central North Island settlement and climate change programmes.
Provision for employee entitlements current and non-current have moved between these categories by $0.9 million owing to the change in the actuarial methodology and assumptions used across the public sector. In addition, annual leave provision included within the provision for employee entitlements current, increased owing to higher average staff numbers.
Significant Variances Between 2008/09 Actuals and Supplementary Estimates Budget
Revenue Crown for departmental outputs decreased by $2.4 million, mainly owing to less demand for the Wholesale Funding Guarantee Facility, NZECO Bonds and New Zealand government bond products than originally forecast.
Creditors and other payables have increased by $0.8 million primarily owing to ongoing rent review negotiations.
