Supplementary estimates of appropriations

Vote Economic Development - Supplementary estimates and supporting information 2009/10

MINISTER(S) RESPONSIBLE FOR APPROPRIATIONS: Minister for Economic Development (M25), Minister for Small Business (M62), Minister for the Rugby World Cup (M79)

ADMINISTERING DEPARTMENT: Ministry of Economic Development


Details of Appropriations#

Details of Annual and Permanent Appropriations

Details of Annual and Permanent Appropriations - Economic Development
Titles and Scopes of Appropriations by Appropriation Type Estimates

Departmental Output Expenses


Policy Advice - Small Business (M62)

This appropriation is limited to policy advice on issues relating to lifting the capability and performance of Small to Medium Enterprises (SMEs), including ministerial servicing and advice on the development, coordination and implementation of policies and programmes that affect SMEs.
1,584 116 1,700

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

This appropriation is limited to the purchase of policy advice and ministerial servicing for the development, evaluation and overview of economic, industry and regional development policies and initiatives to achieve short and long term economic growth and stability.
14,039 6,730 20,769

Total Departmental Output Expenses

15,623 6,846 22,469

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.
18,395 (173) 18,222

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.
73,891 603 74,494

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.
15,212 (6) 15,206

Investment Fund Management (M25)

Operational costs of the Venture Investment and Seed Co-investment Funds.
2,330 - 2,330

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.
47,320 194 47,514

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.
15,765 - 15,765

Total Non-Departmental Output Expenses

172,913 618 173,531

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.
- 600 600

Establishment and operation of the Food Innovation Network New Zealand (M25)

This appropriation is limited to the establishment and operation of the Food Innovation Network New Zealand.
- 5,000 5,000

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.
799 - 799

Grant to Rowing New Zealand (M25)

This appropriation is limited to a grant to assist with the completion of the Rowing New Zealand High Performance Centre at Lake Karapiro.
- 1,000 1,000

Growth Services Fund (M25)

Medium to high growth potential firms to purchase external advice and expertise and marketing intelligence and development services.
9,627 211 9,838

International Biotechnology Partnerships (M25)

Facilitation of joint ventures between Australia and New Zealand companies in biotechnology development, manufacturing and marketing.
4,000 (3,270) 730

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.
35,556 16,925 52,481

Louis Vuitton Trophy Series (M25)

This appropriation is limited to a payment to Emirates Team New Zealand for the purposes of participating in the Louis Vuitton Trophy series and of holding the Auckland regatta of the Louis Vuitton Trophy series in March 2010 in partnership with Louis Vuitton and hosted by the Royal New Zealand Yacht Squadron.
- 3,500 3,500

Major Events Development Fund (M25)

Support for major events that provide economic, social, cultural and international profiling benefits to New Zealand.
6,532 1,050 7,582

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 (395) 361

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.
40,773 - 40,773

Negotiation and Completion of Stadium Projects (M25)

This appropriation is limited to a funding facility for relevant Corporate Entities for the purpose of Stadium developments at Dunedin, Christchurch, Nelson and Whangarei to host games for the RWC 2011.
35,000 (1,000) 34,000

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.
13,000 (9,500) 3,500

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.
635 395 1,030

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.
16,230 2,149 18,379

Rugby World Cup Free-to-Air Broadcasting Right (M79)

This appropriation is limited to meeting the government contribution to the joint bid by the Māori Television Service, Television New Zealand and Mediaworks for the Rugby World Cup free-to-air broadcasting right.
- 640 640

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.
1,500 - 1,500

West Coast Timber Industry Settlement (M25)

This appropriation is limited to the provision of an ex gratia payment to address the impact of the actions of Timberlands West Coast on the West Coast timber industry.
- 4,000 4,000

Total Non-Departmental Other Expenses

164,408 21,305 185,713

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.
19,606 1,042 20,648

Total Departmental Capital Expenditure

19,606 1,042 20,648

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.
124 3,921 4,045

Purchase of Queen's Wharf, Auckland (M25)

This appropriation is limited to the sale and purchase of the Queen's Wharf, Auckland jointly with the Auckland Regional Council.
- 20,000 20,000

Seed Co-investment Fund (M25)

Support the development of the market for early stage equity finance.
8,000 12,487 20,487

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.
14,875 53,093 67,968

Total Non-Departmental Capital Expenditure

22,999 89,501 112,500

Total Annual and Permanent Appropriations

395,549 119,312 514,861

Details of Multi-Year Appropriations#

Multi-Year Appropriations - Economic Development
Type, Title, Scope and Period of Appropriations Appropriation $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 Appropriation 26,600
Adjustments for 2008/09 9,756
Adjustments to 2009/10 -
Adjusted Appropriation 36,356
Actual to 2008/09 Year End 4,948
Estimated Actual for 2009/10 26,448
Estimated Actual for 2010/11 4,960
Estimated Appropriation Remaining -

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 Appropriation 7,000
Adjustments for 2008/09 -
Adjustments to 2009/10 -
Adjusted Appropriation 7,000
Actual to 2008/09 Year End 5,000
Estimated Actual for 2009/10 2,000
Estimated Actual for 2010/11 -
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 Appropriation 9,766
Adjustments for 2008/09 -
Adjustments to 2009/10 520
Adjusted Appropriation 10,286
Actual to 2008/09 Year End -
Estimated Actual for 2009/10 -
Estimated Actual for 2010/11 4,520
Estimated Appropriation Remaining 5,766

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 Schedule 2009/10
Main Estimates Projections
Supplementary Estimates Projections
Explanation of Projected Movements in 2009/10
Opening Balance 18,523 18,394 Supplementary Estimates opening balance reflects the audited results as at 30 June 2009.
Capital Injections 16,606 12,356 Deficits incurred on Departmental Output Expenses where memorandum accounts are in operation $3.900 million ($3.600 million in Main Estimates) and funding for capital contribution for capital expenditure $8.456 million ($13.006 million).
Capital Withdrawals - (108) Capital transfer of $108,000 for funding the Identity Verification Service (Nil).
Surplus to be Retained (Deficit Incurred) (3,600) (3,900) Deficit for the year comprised of memorandum account deficits $3.900 million ($3.600 million in Main Estimates), departmental output expenses where surplus earned is $380,000 ($80,000) less provision for repayment of surplus $380,000 ($80,000).
Other Movements - -  

Closing Balance

31,529 26,742