Financial Statements - Departmental
for the year ended 30 June 2010
Overview of Departmental Financial Results
for the year ended 30 June 2010
The following significant movements in actual results between the 2009/10 and 2008/09 years, and actual results against the 2009/10 Supplementary Estimates budget, are explained below:
| 2009 Actual $000 |
2010 Actual $000 |
2010 Main Estimates $000 |
2010 Supp. Estimates $000 |
|
|---|---|---|---|---|
Revenue |
||||
| 59,687 | Crown | 63,858 | 68,260 | 74,255 |
Expenses |
||||
| 40,886 | Personnel | 43,758 | 46,204 | 45,333 |
| 15,737 | Operating | 13,552 | 16,137 | 19,571 |
| 2,037 | Consultants | 5,542 | 4,725 | 8,332 |
Current Assets |
||||
| 7,698 | Debtor - Crown | 8,799 | 6,696 | 10,062 |
Non-current Assets |
||||
| 4,604 | Property, plant and equipment | 3,653 | 4,254 | 4,154 |
Current Liabilities |
||||
| 5,239 | Creditors and other payables | 5,254 | 4,300 | 7,577 |
Non-current Liabilities |
||||
| 1,151 | Provision for employee entitlements | 887 | 390 | 230 |
Taxpayers' Funds |
||||
| 6,948 | General funds | 6,342 | 6,342 | 6,342 |
Movements between Main Estimates Budgets and Supplementary Estimates Budgets are explained in the published Supplementary Estimates of Appropriation.
Significant Actual Movements Between 2008/09 and 2009/10
Revenue Crown for departmental outputs increased by $4.2 million, mainly owing to increased capacity from budget initiative funding and greater consultancy spend for Deposit Guarantee Scheme.
Personnel increased by $2.9 million mainly owing to increased capacity from budget initiative funding and a fall in staff turnover.
Operating costs decreased by $2.2 million owing to lower transactional costs in NZDMO and a reduction in legal advice for the Deposit Guarantee Scheme.
Consultants increased by $3.5 million mainly owing to greater complexity and therefore more resources for the Deposit Guarantee Scheme and additional funding for the BASS project.
Debtor - Crown increased by $1.1 million owing to higher spend in June 2010 for the Deposit Guarantee Scheme and BASS project.
Property, plant and equipment decreased by $1 million owing to lower capital expenditure on computer hardware.
Taxpayers' funds decreased by $0.6 million owing to the repayment of capital provided for the Treasury accommodation project between 2003 and 2005.
Significant Variances Between 2009/10 Actuals and Supplementary Estimates Budget
Revenue Crown for departmental outputs decreased by $10.4 million, mainly owing to less demand than anticipated for the Crown Deposit Guarantee Scheme, the Crown Wholesale Guarantee Facility and NZECO and delays in personnel recruitment.
Consultants expenses are $2.8 million below budget owing to lower costs than anticipated for the Crown Deposit Guarantee Scheme and NZECO; most of this activity will now occur in 2010/11.
Debtor - Crown decreased by $1.3 million mainly owing to lower expenditure for the Crown Deposit Guarantee Scheme and NZECO in June 2010 than originally expected.
Creditors and other payables decreased by $2.3 million primarily owing to less expenditure than expected in June.
