Financial Statements - Departmental
for the year ended 30 June 2011
Overview of Departmental Financial Results
for the year ended 30 June 2011
The following significant movements in actual results between the 2010/11 and 2009/10 years, and actual results against the 2010/11 Supplementary Estimates budget, are explained below:
| 2010 Actual $000 |
2011 Actual $000 |
2011 Main Estimates $000 |
2011 Supp. Estimates $000 |
|
|---|---|---|---|---|
Revenue |
||||
| 63,858 | Crown | 63,921 | 73,098 | 73,972 |
| Expenses | ||||
| 43,758 | Personnel |
43,975 | 47,114 | 43,727 |
| 13,552 | Operating | 15,128 | 18,639 | 20,545 |
| 5,542 | Consultants | 4,674 | 6,249 | 9,261 |
Current Assets |
||||
| 8,799 | Debtor - Crown | 6,751 | 6,696 | 8,940 |
Non-current Assets |
||||
| 3,653 | Property, plant and equipment | 3,328 | 3,660 | 3,678 |
Current Liabilities |
||||
| 5,254 | Creditors and other payables | 4,802 | 4,300 | 4,463 |
| 4,810 | Provision for employee entitlements | 4,903 | 4,822 | 4,655 |
Non-current Liabilities |
||||
| 887 | Provision for employee entitlements | 809 | 390 | 870 |
Taxpayers' Funds |
||||
| 6,342 | General funds | 5,742 | 5,742 | 5,742 |
Movements between Main Estimates Budgets and Supplementary Estimates Budgets are explained in the published Supplementary Estimates of Appropriation.
Significant Actual Movements Between 2010/11 and 2009/10
- Operating expenses increased by $1.600 million mainly owing to costs of processing increased level of payments to investors as part of the Deposit Guarantee Scheme (DGS).
- Consultants expenses decreased by $900,000 mainly owing to a reduction in activity as part of the DGS offset by increases in projects for BASS, infrastructure and mixed ownership model.
- Debtor - Crown has decreased by $2.048 million as the prior year expenditure was significantly higher in June for the DGS and BASS project.
- Taxpayers' Funds has decreased by $600,000 owing to the repayment of capital provided for the Treasury accommodation project between 2003 and 2005.
Significant Variances Between 2010/11 Actuals and Supplementary Estimates Budget
- Revenue - Crown for departmental outputs was lower by $10.050 million, mainly owing to less demand for the DGS facility and NZECO and lower costs for establishment of monitoring of AMI.
- Consultants expenses are $4.600 million below budget owing to lower costs incurred for DGS, NZECO and monitoring of AMI.
- Debtor - Crown has decreased by $2.100 million mainly owing to lower expenditure in June than forecast for DGS, NZECO and establishment of AMI.
