3 Public Finance Act 1989 Schedule 4 organisations
Reporting requirements for organisations named or described in Schedule 4 of the PFA are outlined below. This information covers only reporting requirements of Schedule 4 organisations. For information on other requirements, organisations should refer to Part 5 the PFA.
3.1 Requirements of organisations named or described
Statutory requirement: section 45M(1)(b) of the PFA:
(1) The following provisions of the Crown Entities Act 2004 apply to an organisation named or described in Schedule 4, as if the organisation were a Crown entity under the Crown Entities Act 2004:...
(b) Sections 154 to 156 and any regulations that apply to the matters referred to in those sections:
An organisation named or described in Schedule 4 must comply with sections 154 to 156 of the CEA as if the organisation were a Crown entity. These sections require the Schedule 4 organisation to prepare:
- annual financial statements (refer to section 154)
- a statement of responsibility (refer to section 155), and
- an audit report (section 156).
Statutory requirement: section 45M(2) of the PFA:
(2) Section 150 of the Crown Entities Act 2004 applies to an organisation that is named or described in Schedule 4 and that is not required to produce an annual report as if the annual financial statements required under subsection (1)(b) were an annual report.
If the organisation is not required to produce a full annual report, it must prepare, present and publish annual financial statements as if they were an annual report in accordance with section 150 of the CEA. Essentially, this requires Schedule 4 organisations to comply with the timeline set out in section 1.3 of this guidance.
3.2 Additional requirements of particular organisations
Sections 139, 150 and 153 of the Crown Entities Act that may apply
Statutory requirement: section 45N(1) of the PFA:
(1) A provision of the Crown Entities Act 2004 that is listed in column 2 of Schedule 4 as applying to an organisation named or described in that schedule applies to that organisation as if the organisation were a Crown entity under the Crown Entities Act 2004.
Organisations named or described in Schedule 4 of the PFA need to read the most current version of the PFA to know which of the following sections of the CEA apply to it ie:
- Section 139, Obligation to prepare statement of intent and / or
- Section 150, Obligation to prepare, present and publish annual report and / or
- Section 153, Form and content of statement of service performance.
A ‘Y' in the appropriate column of Schedule 4 of the PFA means the organisation must comply with that section of the CEA as if they were a Crown entity. The PFA can be accessed electronically at: http://www.legislation.govt.nz/default.aspx.
Presentation of the statement of service performance
Statutory requirement: section 45M(3) of the PFA:
(3) An organisation named or described in Schedule 4 that is required to produce a statement of service performance must present that statement to the House of Representatives with the annual financial statements required under subsection (1)(b).
Schedule 4 organisations that are required to produce a statement of service performance must present that statement to the House of Representatives with the annual financial statements required above.
