Supplementary estimates of appropriations

Vote Economic Development - Supplementary estimates and supporting information 2008/09

MINISTER(S) RESPONSIBLE FOR APPROPRIATIONS: Minister for Economic Development (M25), Minister for Small Business (M62)

ADMINISTERING DEPARTMENT: Ministry of Economic Development

MINISTER RESPONSIBLE FOR MINISTRY OF ECONOMIC DEVELOPMENT: Minister for Economic Development

Details of Appropriations#

Details of Annual and Permanent Appropriations

Details of Annual and Permanent Appropriations - Economic Development
2008/09
Titles and Scopes of Appropriations by Appropriation TypeEstimates
Budget
$000
Supplementary
Estimates
Budget
$000
Total
Budget
$000

Departmental Output Expenses

Policy Advice - Small Business (M62)

This appropriation is limited to policy advice on issues relating to lifting the capability and performances of Small to Medium Enterprises (SMEs), including ministerial servicing and advice on the development, coordination and implementation of policies and programmes that affect SMEs.
1,646841,730

Policy Advice and Sector Leadership - Firm Capability, Sectoral and Regional Development (M25)

This appropriation is limited to policy advice and ministerial servicing in relation to the development, evaluation and overview of sustainable, economic, industry and regional development policies and initiatives. It also includes ownership and purchase advice on Crown-owned entities.
17,19375917,952

Total Departmental Output Expenses

18,83984319,682

Non-Departmental Output Expenses

Analysis and Development Services for Firms (M25)

The appropriation is limited to customised advice and support to firms based on analysis of opportunities, issues and risks facing them in their growth and internationalisation, including advice and support for firms to access business assistance grants.
22,530(2,602)19,928

Identification and Coordination of International Market Opportunities (M25)

This appropriation is limited to the identification and coordination of international market opportunities for firms through market analysis and intelligence, facilitation into international business networks and marketing and support of New Zealand's presence at significant international events.
68,4461,97270,418

International Investment Facilitation Services (M25)

This appropriation is limited to coordination and analysis of opportunities for investment into New Zealand and investment by New Zealand firms into international markets.
16,724(696)16,028

Investment Fund Management (M25)

Operational costs of the Venture Investment and Seed Co-investment Funds.
2,590-2,590

Regional and Sector Development Services (M25)

This appropriation is limited to customised advice and support to regional institutions for the development of regional economic development strategies, and to sectoral industry bodies and groups of firms for the development and implementation of plans to improve the performance of sectors.
44,9062,25047,156

Standardised Training and Advisory Services (M25)

This appropriation is limited to standardised training and advisory services provided by third parties to firms on a range of business development needs including business incubation, capital acquisition, finance brokering and exporting.
16,137(950)15,187

Total Non-Departmental Output Expenses

171,333(26)171,307

Non-Departmental Other Expenses

Enterprise Development Fund (M25)

Assistance for entrepreneurs and businesses to undertake advanced training, engage a business mentor or specific management advice and/ or undertake international market development activities.
2,774-2,774

Enterprise, Culture and Skills Activities Fund (M25)

Support of enterprise education initiatives to encourage a culture of enterprise and entrepreneurship.
1,511-1,511

Film New Zealand (M25)

Operation of an independent structure for Film NZ, development of a marketing plan for the film sector and coordination of regional film offices.
750-750

Growth Services Fund (M25)

Medium to high growth potential firms to purchase external advice and expertise and marketing intelligence and development services.
5,927-5,927

International Biotechnology Partnerships (M25)

Facilitation of joint ventures between Australia and New Zealand companies in biotechnology development, manufacturing and marketing.
4,000(2,000)2,000

Large Budget Screen Production Fund (M25)

Assistance to film and television productions that spend over $15 million in New Zealand, if that expenditure equals or exceeds 70% of the production's total budget.
35,55612,34647,902

Louis Vuitton Pacific Series (M25)

This appropriation is limited to a payment to Emirates Team New Zealand for the purposes of holding the Louis Vuitton Pacific Series in partnership with Louis Vuitton and hosted by the Royal New Zealand Yacht Squadron.
-750750

Major Events Development Fund (M25)

Support for major events that provide economic, social, cultural and international profiling benefits to New Zealand.
4,500-4,500

Management Development Fund (M25)

Assistance to address the management capability gap in New Zealand, through the commissioning of research, stimulation of business interest and supply of management development services.
756(480)276

Market Development Assistance Fund (M25)

Encouragement for the integration of more New Zealand businesses into global markets by facilitating the creation, development and expansion of overseas markets for New Zealand goods, services, intellectual property and know-how.
54,341(9,404)44,937

Promotion of New Zealand Associated with the America's Cup (M25)

This appropriation is limited to meeting costs associated with the proposed sponsorship of Team New Zealand's participation in the next multi-challenger America's Cup.
26,000(13,750)12,250

Regional and Industry Development Fund (M25)

Support of industry and regional specific projects that are likely to have the ability to contribute to government economic objectives and to unlock high growth potential, including support of Buy Kiwi Made sectoral and regional initiatives.
2,274(514)1,760

Regional Partnerships and Facilitation (M25)

Provision of advice and grants to support the development of business incubators and regional clusters, and to support regional partnerships to develop and implement sustainable economic growth strategies.
18,182(5,346)12,836

Sector Strategies and Facilitation (M25)

Assistance with the facilitation of specific sector initiatives, particularly in the areas of major events, pre-feasibility and feasibility studies and guarantees for significant projects to access funding through other government programmes and cash grants.
3,218(1,718)1,500

Trilateral Projects (M25)

This appropriation is limited to administration of and support for Trilateral industry development projects that involve New Zealand Trade and Enterprise, the Foundation for Research, Science and Technology, and the Tertiary Education Commission.
-1,2501,250

Total Non-Departmental Other Expenses

159,789(18,866)140,923

Departmental Capital Expenditure

Ministry of Economic Development - Capital Expenditure PLA (M25)

This appropriation is limited to the purchase or development of assets by and for the use of the Ministry of Economic Development, as authorised by section 24(1) of the Public Finance Act 1989.
15,850(3,572)12,278

Total Departmental Capital Expenditure

15,850(3,572)12,278

Non-Departmental Capital Expenditure

New Zealand Trade and Enterprise (M25)

To increase NZTE's in-market assistance for New Zealand firms in China, India and Japan.
3,3142,7076,021

Seed Co-investment Fund (M25)

Support the development of the market for early stage equity finance.
8,0004,67412,674

Venture Investment Fund (M25)

Capital Investment to accelerate the development of the New Zealand Venture Capital Market. Public funds will be co-invested with the private sector to increase the rate of formation of new businesses based on high added value goods and services.
20,00013,70133,701

Total Non-Departmental Capital Expenditure

31,31421,08252,396

Total Annual and Permanent Appropriations

397,125(539)396,586

Details of Multi-Year Appropriations#

Multi-Year Appropriations - Economic Development
Type, Title, Scope and Period of AppropriationsAppropriation$000

Non-Departmental Output Expenses

New Zealand's Participation at Expo 2010 Shanghai, China (M25)

This appropriation is limited to New Zealand's participation at Expo 2010 in Shanghai, China.

Commences: 1 July 2008

Expires: 30 June 2011

Original Appropriation26,600
Adjustments for 2007/08-
Adjustments to 2008/099,756
Adjusted Appropriation36,356
Actual to 2007/08 Year End-
Estimated Actual for 2008/097,051
Estimated Actual for 2009/1024,345
Estimated Appropriation Remaining4,960

Non-Departmental Other Expenses

3D Digital Graphics Cluster (M25)

To research and develop commercial projects that build on New Zealand's existing strength in 3D digital graphics technology.

Commences: 1 July 2007

Expires: 30 June 2010

Original Appropriation7,000
Adjustments for 2007/08-
Adjustments to 2008/09-
Adjusted Appropriation7,000
Actual to 2007/08 Year End3,000
Estimated Actual for 2008/092,000
Estimated Actual for 2009/102,000
Estimated Appropriation Remaining-

Transformational Initiatives Fund (M25)

Funding for the implementation of policy on transformational initiatives as agreed by Cabinet.

Commences: 1 March 2009

Expires: 30 June 2013

Original Appropriation9,766
Adjustments for 2007/08-
Adjustments to 2008/09-
Adjusted Appropriation9,766
Actual to 2007/08 Year End-
Estimated Actual for 2008/092,466
Estimated Actual for 2009/101,000
Estimated Appropriation Remaining6,300

Details of Projected Movements in Departmental
Net Assets#

Ministry of Economic Development

Ministry of Economic Development - Details of Projected Movements in Departmental Net Assets - Economic Development
Details of Net Asset Schedule2008/09
Main Estimates Projections
$000
2008/09
Supplementary Estimates Projections
$000
Explanation of Projected Movements in 2008/09
Opening Balance20,93921,523Supplementary Estimates opening balance reflects the audited results as at 30 June 2008.
Capital Injections16,0936,320Deficits incurred on Departmental Output Expenses where memorandum accounts are in operation $5.400 million and funding for capital contribution for capital expenditure $92,000.
Capital Withdrawals-(3,920)Return of cash surplus to long-term capital maintenance requirements.
Surplus to be Retained (Deficit Incurred)(4,403)(5,400)Deficit for the year comprised of memorandum account deficits $5.400 million, departmental output expenses where surplus earned is $20,000, less provision for repayment of surplus $20,000.
Other Movements--

Closing Balance

32,62918,523Planned reduction in net assets of $3 million.