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Annual Report of the Treasury for the Year Ended 30 June 2012

Crown Company Monitoring Advice to the Minister of Science and Innovation and the Minister for Economic Development

Scope of Appropriation

This appropriation is limited to the provision of ownership, performance monitoring and governance advice to the Minister of Science and Innovation and other responsible Ministers in respect of the Ministers' shareholding responsibilities.

Significant Work Completed During 2011/12

  • Maintained an oversight of the eight Crown research institutes (CRIs) and reported on them in the Treasury's 2011 APR.
  • Provided second opinion advice and guidance to MSI on its monitoring of CRIs and Research and Education Advanced Network New Zealand (REANNZ).
  • Provided advice on New Zealand Venture Investment Fund Ltd (NZVIF) business planning and risks and opportunities.
  • Completed 25 board appointments for CRIs and other entities.
Performance Measures: Crown Company Monitoring Advice to the Minister of Science and Innovation and the Minister for Economic Development
Performance Dimensions for 2011/12 Target Performance for 2011/12
Policy advice complies with the Treasury's Quality Standards for Policy. Achieved Achieved
Crown Company Monitoring Advice to the Minister of Science and Innovation and the Minister for Economic Development
2011
Actual
$000
Crown Company Monitoring Advice to the
Minister of Science and Innovation and
the Minister for Economic Development
2012
Actual
$000
2012
Main Estimates
$000
2012
Supp. Estimates
$000
- Expenses 711 1,074 778
Funded by:
- Revenue Crown 700 1,063 767
- Other revenue 11 11 11

From 2011/12 the appropriation previously attributable to Vote Crown Research Institutes was transferred to Vote Finance.

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