This data is being released as part of New Zealand’s commitment, to the Open Government Partnership (OGP), to make a difference to openness, transparency and accountability of the Budget. The data details the Government Financial Statistics (GFS) functional classification of core Crown expenses rounded to the nearest million.
The Forecast Financial Statements have been prepared in accordance with the accounting policies that are expected to be used in the comparable audited actual Financial Statements of the Government. They comply with generally accepted accounting practice (GAAP) as required by the Public Finance Act 1989 and have been prepared in accordance with Public Benefit Entity Financial Reporting Standard 42: Prospective Financial Statements. Due to differences in the GAAP and GFS classifications rounding may have been applied to the Core Government Services line in the published Economic and Fiscal Update document to which it relates.
About the data being released:
Core Crown#
A reporting segment consisting of the Crown, departments, Offices of Parliament, the New Zealand Superannuation Fund and the Reserve Bank.
Core Crown expenses#
The day-to-day spending (eg, public servants’ salaries, welfare benefit payments, finance costs and maintaining national defence etc) that does not build or purchase physical assets by the core Crown. This is an accrual measure of expenses and includes non-cash items such as depreciation on physical assets.
Financial year#
The Government’s financial year is between 1 July and 30 June.
Definitions#
- Dataset – the data set that the information relates to, this could be a Budget or actual results. For example 2018 Budget refers to the data presented in the Budget 2018 for the five year forecast period (30 June 2018 – 30 June 2022)
- Account type – this describes the type of financial data, this could be revenue, expenditure, assets, liabilities or cashflow
- Classification – this is the classification this data has been given and what area it is present under in the financial statements published by the Treasury.
- Name – this is the description this data has been given and how this data is presented in the financial statements published by the Treasury (these could be actual or forecast financial statements)
- Amount (unit of measure) – all data presented is in New Zealand dollar millons (NZD $m)
- Year – this reflects the year this data relates to, for example 2017/18 for revenue and expenditure and cash flows means the year to date of full year total for the year to 30 June 2018 and for assets and liabilities this means as at the date of the data set
- Period – this represents the month for which the data relates