The Treasury has key responsibilities for the monitoring, oversight, and policy implementation of the Crown's assets as well as managing the Governments borrowing programme.
The Treasury's Role
The Treasury's responsibilities in relation to assets held by the Government include:
- Monitoring the performance of the Crown's commercial portfolio
- Reporting on the net worth and performance of SOEs in Financial Statements
- Implementing Government policy on the management of assets.
The Treasury is responsible for managing the government's borrowing programme, government debt, overall net cash flows, and some of its interest-bearing assets within an appropriate risk management framework.
What assets does the Government own?
The Government's assets range from commercial forests, property, plant and equipment to intangible assets. Some of the Government's largest assets are financial assets like the New Zealand Superannuation Fund (NZS Fund).
State-owned Enterprises and Crown Entities Assets
The total assets of State-owned Enterprises (SOEs), Crown Entities and Air New Zealand Limited are reported in the Information on SOEs and Crown Entities tables in the Financial Statements of the Government of New Zealand for the Year Ended 30 June 2019.
How much are the Government's assets worth?
The Statement of Financial Position in the Financial Statements of the Government of New Zealand for the Year Ended 30 June 2019 shows the current value of broad types of assets. Total assets for the 2018/19 financial year are valued at $365.8 billion. Note 16: Property, Plant and Equipment, includes a breakdown of the value of those types of assets - for example, rail network, electricity generation assets, land and buildings.
What are the Government's liabilities?
The Government's liabilities include ACC claims and the Government Superannuation Fund liability.
The Statement of Financial Position in the Financial Statements of the Government of New Zealand for the Year Ended 30 June 2019 shows the current value of broad types of liabilities and values total liabilities at $219.4 billion.