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Statement of Intent 2014-2019

The Crown Balance Sheet is Managed Effectively and Efficiently

What would success look like?

The Crown balance sheet is managed effectively and efficiently with overall performance of assets and liabilities supporting the Government's medium-term objectives.

Medium-term success:

  • Balance sheet targets are met and the Crown balance sheet is resilient to shocks.
  • The composition and shape of the Crown's assets and liabilities are aligned with government's priorities.
  • Appropriate financial, commercial and social returns and long-term value are achieved from the assets the Crown owns.
  • The Crown's commercial and financial portfolio is performing to agreed benchmarks.
  • Crown capital allocation aligns with medium-term government priorities.
  • New investments deliver expected value for money.
  • Entity risks are well understood and appropriately managed.
  • Agencies have the appropriate level of asset management capability.
  • Debt portfolio composition is optimised with regard to the Crown balance sheet.
  • Borrowing targets are successfully completed within appropriate cost and risk parameters.
  • Crown cash flows and financial risks are efficiently and effectively managed, operating within agreed limits and error rates.

Specific 2014/15 objectives:

  • The Treasury's understanding of the consolidated Crown balance sheet has been strengthened, allowing better risk management.
  • Collection and use of agreed asset and liability performance information is enhancing performance reporting and supporting better decision-making.
  • The Treasury's understanding of the strategic positioning and financial performance of entities has been strengthened, providing a better platform to influence shareholders, entities and stakeholders.
  • Ministers have confidence that major investments are monitored and governed appropriately to ensure value for money is delivered.
  • Agencies comply with Cabinet's capital approval requirements and the Better Business Cases standard.
  • The debt management marketing strategy reinforces investor confidence and broadens the investor base.
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