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Annual Report of the Treasury for the Year Ended 30 June 2016

Section Four - Statements of Expenses and Capital Expenditure

Statement of Budgeted and Actual Expenses and Capital Expenditure Incurred Against Appropriations

for the year ended 30 June 2016

The Statement of Budgeted and Actual Expenses and Capital Expenditure Incurred Against Appropriations details expenditure against appropriations. Total departmental output classes expenditure and appropriations equal total expenses in the Statement of Comprehensive Revenue and Expenses on page 66. Total non-departmental output classes expenditure and appropriations equal total expenses in the Schedule of Expenses on page 79.

2015
Actual
$000
Note[9] 2016
Actual
$000
2016
Main Estimates
$000
2016
Supp. Estimates
$000
Location of
End-of-year
Performance
nformation

Vote Finance

     

Departmental Output Expenditure

     
7,593 Administration of Crown Borrowing and Investment PLA   8,822 8,917 9,297 The Treasury Annual Report
34 Administration of Guarantees and Indemnities Given by the Crown PLA   69 309 311 The Treasury Annual Report
4,606 Crown Company Monitoring Advice to the Minister for SOEs and Other Responsible Ministers   4,434 5,098 5,316 The Treasury Annual Report
380 Crown Company Monitoring Advice to the Minister for Science and Innovation and the Minister for Economic Development   140 414 265 The Treasury Annual Report
34,582 Policy Advice - Finance   31,703 33,037 33,083 The Treasury Annual Report
29,198 Provision of Financial Operations Services and Operational Advice   29,484 28,840 30,709 The Treasury Annual Report
149 Provision of Financial Services to the New Zealand Local Government Funding Agency RDA   - 165 - The Treasury Annual Report
10,676 Shared Support Services   12,933 10,400 13,221 The Treasury Annual Report
87,218 Total Departmental Output Expenditure   87,585 87,180 92,202  

Departmental Capital Contribution

       
700 Total Departmental Capital Contribution   820 - 820  

Departmental Capital Expenditure

     
4,434 Total Departmental Capital Expenditure   5,097 4,309 6,274  
253 Management of New Zealand House, London   - - - N/A
- Management of Anchor Projects by
Ōtākaro Limited
2 7,285 - 7,467 The Treasury Annual Report
24 Management of Crown's Obligations for
Geothermal Wells
  192 151 467 Exempt
326 Management of the New Zealand Superannuation Fund   428 528 628 Exempt
603 Total Non-departmental Output Expenses   7,905 679 8,562  

Non-departmental Borrowing Expenses

     
3,619,582 Debt servicing[10] 3 (c) 3,409,180 3,391,920 3,424,513 N/A
3,619,582 Total Non-departmental Borrowing Expenses   3,409,180 3,391,920 3,424,513  

Non-departmental Other Expenses

     
- Auckland Council Loans: Loss on Early Repayment   1,487 - 20,000 Exempt
60 Crown Residual Liabilities   90 60 86 Exempt
635 Direct Sale Costs for Implementing the Mixed Ownership Model   - - - N/A
- Geothermal Wells Fund   - 500 1,500 Exempt
- Government Inquiry into Foreign Trust Disclosure Rules   76 - 150 Exempt
- Government Superannuation Appeals Board   3 50 50 Exempt
27,932 Government Superannuation Fund Authority - Crown's Share of Expenses10   35,114 33,000 38,000 Exempt
684,125 Government Superannuation Fund Unfunded Liability10   581,360 679,582 614,065 Exempt
333,000 Impairment of Investment in Southern Response Earthquake Services Ltd 5 222,000 - 417,000 Exempt
32,865 National Provident Fund Schemes - Liability Crown Under Crown Guarantee10   27,225 36,000 27,000 Exempt
190 Renegotiation of New Zealand House Lease   - - - N/A
10,207 New Zealand House, London   - - - N/A
5,402 Payments in respect of NZECO Guarantees and Indemnities10   2,762 - - Exempt
- Review and Reform of Local Government Infrastructure Arrangements   977 1,000 1,625 The Treasury Annual Report
107,731 Solid Energy New Zealand Limited - Payments for Environmental Rehabilitation10 6 1,851 - 1,851 Exempt
2,000 Stadium Southland   - - - N/A
697 Taitokerau Forests Limited Grant   - - - N/A
8 Unclaimed Money10   30 250 250 Exempt
- Unclaimed Trust Money10   - 250 250 Exempt
- Unwind of Discount Rate used in the Present Value Calculation of Payment of Shares in International Institutions10   1,605 - 1,605 Exempt

 

15,857

Unwind of Discount Rate Used in the Present Value Calculation of Payment Under Crown Deed of Support with Southern Response Earthquake Services Limited 5 16,370 12,843 16,370 Exempt
- Write-off of Historical Investment in Solid Energy 6 60,900 - 60,900 Exempt
1,220,709 Total Non-departmental Other Expenses   951,850 763,535 1,200,702  
 

Non-departmental Capital Expenditure

         
- Crown Asset Management Limited - Acquisition of Residual Assets   - - 1,000 Exempt
34,103 International Financial Institutions10 1 334,714 44,000 350,494 Exempt
1,178 Landcorp Protected Land Agreement - Capital   - - - N/A
- Loan Facility for Tamaki Redevelopment Company MYA 7 8,500 100,000 23,000 Tamaki Redevelop-ment Company Annual Report
- Ōtākaro Limited Equity Injection 2 6,100 - 6,100 Exempt
- Refinancing of Housing New Zealand Corporation and Housing New Zealand Limited Debt 7 142,362 142,362 142,362 Reported in the same document as the Treasury Annual Report
333,000 Southern Response Earthquake Services Limited: Equity Investment 5 222,000 - 417,000 Exempt
1,000 Taitokerau Forests   - - - N/A
- Transfer of Anchor Project to Ōtākaro Limited MYA 2 204,452 - 300,000 Exempt
- Transfer of Housing New Zealand Corporation's Tāmaki Housing Stock to Tāmaki Redevelopment Company 7 1,631,161 1,300,000 1,631,161 Reported in the same document as the Treasury Annual Report
369,281 Total Non-departmental Capital Expenditure   2,549,289 1,586,362 2,871,117  
 

Multi-category Expenses and Capital Expenditure

         
1,915 Implementation of the Social Housing Reform Programme   8,263 4,600 10,925 The Treasury Annual Report
1,915 Total Departmental Multi-category Output Expenses   8,263 4,600 10,925  
 

Non-departmental Multi-category Output Expenses

         
4,401 Inquiries into Productivity-related Matters   4,401 4,401 4,401 The Treasury Annual Report
629 Research into and Promotion of Productivity-related Matters   629 629 629 The Treasury Annual Report
- Direct Costs of Social Housing Programme 7 4,176 7,900 6,900 The Treasury Annual Report
- NZ House - Property Management   207 1,000 800 Exempt
5,030 Total Non-departmental Multi-category Output Expenses   9,413 13,930 12,730  
 

Total Non-departmental Multi-category Other Expenses

         
- Landcorp - Operating Costs   425 2,000 3,500 Exempt
- NZ House - Operational Costs   10,777 13,000 13,900 The Treasury Annual Report
- NZ House - Renegotiation of Lease Arrangements   161 - 410 Exempt
- Taitokerau - Grants   791 200 473 Exempt
- Taitokerau - Impairment of Loans   4,543 - 5,791 Exempt
- Christchurch Bus Interchange and Associated Transport Infrastructure - Contributions from Third Parties 2 - - 100 Exempt
- Christchurch Bus Interchange and Associated Transport Infrastructure - Operating 2 12,999 - 41,788 The Treasury Annual Report
- Christchurch Convention Centre - Operating 2 1,812 - 8,016 The Treasury Annual Report
- Christchurch Stadium - Contributions from Third Parties 2 - - 100 Exempt
- Christchurch Stadium - Operating 2 11 - 4,000 The Treasury Annual Report
- Christchurch Earthquake Memorial - Operating 2 2 - 8 The Treasury Annual Report
- Christchurch Financial Impact of Valuations 2 - - 2,831 Exempt
- Christchurch Leasing Anchor Project Land 2 - - 6,000 Exempt
- Christchurch Council Metro Sports Facility - Contributions from Third Parties 2 - - 100 Exempt
- Christchurch Metro Sports Facility - Operating 2 2,759 - 9,389 The Treasury Annual Report
- Christchurch Pre-development Holding Costs - Operating 2 98 - 5,463 The Treasury Annual Report
- Christchurch Procurement of Land and Assets - Operating 2 1,582 - 75,514 The Treasury Annual Report
- Christchurch Council Public Space - Contributions from Third Parties 2 - - 100 Exempt
- Christchurch Public Space - Operating 2 13,655 - 105,217 The Treasury Annual Report
- Christchurch Residential Housing - Operating 2 - - - N/A
- Christchurch Sale of Land 2 - - 2,684 Exempt
- Christchurch The Square - Contributions from Third Parties 2 - - 100 Exempt
- Total Non-departmental Multi-category Other Expenses   49,615 15,200 285,484  
 

Non-departmental Multi-category Capital Expenditure

         
- Landcorp Capital Investments   1,450 2,000 2,000 Exempt
- NZ House   - 750 2,250 Exempt
- Taitokerau Loans   400 800 1,100 Exempt
- Christchurch Bus Interchange and Associated Transport Infrastructure 2 - - 7,860 The Treasury Annual Report
- Christchurch Convention Centre 2 5,000 - 24,500 The Treasury Annual Report
- Christchurch Stadium 2 - - - N/A
- Earthquake Memorial 2 2,896 - 3,625 The Treasury Annual Report
- Land and Asset Acquisition 2 - - 104,384 The Treasury Annual Report
- Metro Sports Facility 2 - - 1,000 The Treasury Annual Report
- Public Space 2 9,436 - 37,638 The Treasury Annual Report
- Residential Housing 2 - - - N/A
- Total Non-departmental Multi-category Capital Expenditure   19,182 3,550 184,357  
6,945 Total Multi-category Expenses and Capital Expenditure   86,473 37,280 493,496  
5,308,772 Total Departmental and Non-departmental Expenditure and Appropriations   7,098,199 5,871,265 8,097,686  

Statement of Expenses and Capital Expenditure Incurred Without, or in Excess of, Appropriation or Other Authority

for the year ended 30 June 2016

Expenses and capital expenditure incurred without appropriation or outside scope or period of appropriation

Nil.

Expenses and capital expenditure incurred in excess of appropriation

For the year ended 30 June 2016 there was one item of unappropriated expenditure in Vote Finance.

Appropriation type Appropriation name Appropriated Expenditure in 2015/16
$000
Total Expenditure, Expenses or Liabilities Incurred
$000
Unapproved Unappropriated Expenses
$000
Appropriated Expenditure in 2016/17
$000
Non-departmental Other Expense Crown Residual Liabilities 86 90 4 60

Historically, there has been an underspend against this appropriation. This was expected to continue in 2015/16. However, in July the Treasury received a number of invoices relating to the latter part of the year, which resulted in unappropriated expenditure. These costs were not anticipated to occur in 2015/16.

Notes

  • [9]The notes referenced are the Explanatory Notes to Supplementary Statements and Schedules – Non-departmental on pages 84-86.
  • [10] These expenses or capital expenditures have permanent legislative authority.
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