Formats and related files
Vote Finance#
APPROPRIATION MINISTER(S): Minister for Climate Change (M12), Minister of Finance (M31), Minister of Housing (M37), Minister for State Owned Enterprises (M65), Minister for Infrastructure (M80), Minister for Greater Christchurch Regeneration (M85), Minister Responsible for the Earthquake Commission (M86), Minister of Urban Development (M96)
APPROPRIATION ADMINISTRATOR: The Treasury
RESPONSIBLE MINISTER FOR THE TREASURY: Minister of Finance
Details of Appropriations and Capital Injections#
Annual Appropriations and Forecast Permanent Appropriations#
Titles and Scopes of Appropriations by Appropriation Type | 2019/20 | ||||
---|---|---|---|---|---|
Estimates Budget $000 |
Supplementary Estimates Budget $000 |
Addition to the Supplementary Estimates Budget $000 |
Cumulative Supplementary Estimates Budget $000 |
Total Budget $000 |
|
Departmental Output Expenses | |||||
Administration of Crown Borrowing, Securities, Derivative Transactions and Investment PLA (M31) This appropriation is limited to expenses incurred in connection with administering borrowing, securities, derivative transactions and investment by the Crown, as authorised by section 65ZH of the Public Finance Act 1989. |
10,105 | - | - | - | 10,105 |
Administration of Guarantees and Indemnities given by the Crown PLA (M31) This appropriation is limited to expenses incurred in connection with administering of guarantees and indemnities given by the Crown, as authorised by section 65ZG of the Public Finance Act 1989. |
110 | 1,000 | 1,000 | 2,000 | 2,110 |
Design and Establishment of Christchurch Regeneration Acceleration Facility (M85) This appropriation is limited to the design and establishment of the Christchurch Regeneration Acceleration Facility. |
400 | 494 | - | 494 | 894 |
Design and Establishment of the Green Investment Fund (M12) This appropriation is limited to the design and establishment of the Green Investment Fund. |
2,000 | (1,926) | - | (1,926) | 74 |
Infrastructure Funding and Financing (M96) This appropriation is limited to provision of advice on, and implementing changes to, Infrastructure Funding and Financing systems and settings. |
3,072 | (914) | - | (914) | 2,158 |
Shared Support Services (M31) This appropriation is limited to provision of support services to other agencies. |
10,487 | - | - | - | 10,487 |
Total Departmental Output Expenses | 26,174 | (1,346) | 1,000 | (346) | 25,828 |
Departmental Capital Expenditure | |||||
The Treasury - Capital Expenditure PLA (M31) This appropriation is limited to the purchase or development of assets by and for the use of the Treasury, as authorised by section 24(1) of the Public Finance Act 1989. |
5,985 | - | - | - | 5,985 |
Total Departmental Capital Expenditure | 5,985 | - | - | - | 5,985 |
Non-Departmental Output Expenses | |||||
Independent Infrastructure Advice and Oversight (M80) This appropriation is limited to the New Zealand Infrastructure Commission providing services to improve New Zealand's infrastructure outcomes. |
9,100 | (1,000) | - | (1,000) | 8,100 |
Inquiries and Research into Productivity-Related Matters (M31) This appropriation is limited to the undertaking of inquiries into and research on, and promoting public understanding of, productivity-related matters by the New Zealand Productivity Commission in accordance with the New Zealand Productivity Commission Act 2010. |
5,030 | - | - | - | 5,030 |
Management of Anchor Projects by Ōtākaro Limited (M85) This appropriation is limited to the Crown's contribution to Ōtākaro Limited's operating and financing expenses. |
21,600 | 6,583 | - | 6,583 | 28,183 |
Management of the Crown's Obligations for Geothermal Wells (M31) This appropriation is limited to the management and maintenance relating to geothermal wells and associated sites and structures for which the Crown accepts responsibility. |
180 | 100 | - | 100 | 280 |
Management of the New Zealand Superannuation Fund (M31) This appropriation is limited to managing the New Zealand Superannuation Fund on behalf of the Crown. |
728 | - | - | - | 728 |
Total Non-Departmental Output Expenses | 36,638 | 5,683 | - | 5,683 | 42,321 |
Non-Departmental Borrowing Expenses | |||||
Debt Servicing PLA (M31) This appropriation is limited to the payment of borrowing expenses for the Crown's New Zealand-dollar and foreign-currency debt, authorised by section 60(1)b of the Public Finance Act 1989. |
3,075,926 | 17,893 | - | 17,893 | 3,093,819 |
Total Non-Departmental Borrowing Expenses | 3,075,926 | 17,893 | - | 17,893 | 3,093,819 |
Non-Departmental Other Expenses | |||||
Ahu Whenua Trust Ex-gratia Payment (M31) This appropriation is limited to an ex-gratia payment to an Ahu Whenua Trust in settlement of its claims from 21 September 1992 onwards. |
- | 9,000 | - | 9,000 | 9,000 |
Christchurch Regeneration Acceleration Facility (M85) This appropriation is limited to grants to the Christchurch City Council for projects approved for funding pursuant to the Christchurch Regeneration Acceleration Facility. |
- | 300,000 | - | 300,000 | 300,000 |
Crown Residual Liabilities (M31) Residual obligations arising from administration of the Crown's sale and purchase agreements with SOEs and Crown entities and from the sale of Crown investments, and for the settlement of claims against the Crown arising from exposure to asbestos. |
60 | 167 | - | 167 | 227 |
Geothermal Wells Fund (M31) This appropriation is limited to meeting the costs of one-off unforeseen events relating to those geothermal wells for which the Crown accepts responsibility. |
500 | - | - | - | 500 |
Global Settlement with Christchurch City Council (M85) This appropriation is limited to expenses incurred by the Crown in implementing the Global Settlement Agreement with the Christchurch City Council and matters consequential on that Agreement. |
- | 50,164 | - | 50,164 | 50,164 |
Government Superannuation Appeals Board (M31) This appropriation is limited to the expenses of the Government Superannuation Appeals Board in performing its functions under the Government Superannuation Fund Act 1956. |
50 | - | - | - | 50 |
Government Superannuation Fund Authority - Crown's Share of Expenses PLA (M31) This appropriation is limited to the Crown's share of the expenses of the Government Superannuation Fund Authority relating to the management and administration of the Government Superannuation Fund and the schemes, authorised by sections 15E and 95 of the Government Superannuation Fund Act 1956. |
45,000 | (3,000) | - | (3,000) | 42,000 |
Government Superannuation Fund Unfunded Liability PLA (M31) This appropriation is limited to the net increase (excluding actuarial gains and losses) in the Crown's liability to the Government Superannuation Fund and the specified superannuation contribution withholding tax on employer contributions by the Crown, authorised by section 95AA of the Government Superannuation Fund Act 1956. |
444,000 | 96,617 | - | 96,617 | 540,617 |
Impairment of Investment in Southern Response Earthquake Services Ltd (M31) This appropriation is limited to the impairment of equity investment in Southern Response Earthquake Services Ltd. |
- | 121,000 | - | 121,000 | 121,000 |
Meeting Deficiency in Earthquake Commission's Natural Disaster Fund PLA (M31) This appropriation is limited to expenses incurred in meeting the deficiency in the Earthquake Commission's Natural Disaster Fund, as authorised by section 16 of the Earthquake Commission Act 1993. |
174,000 | (84,000) | - | (84,000) | 90,000 |
National Provident Fund - Crown liability for Scheme Deficiency PLA (M31) This appropriation is limited to the Crown's liability for deficiency in the accounts of National Provident Fund schemes established pursuant to section 38A(6) of the National Provident Fund Act 1950, authorised by section 72 of the National Provident Fund Restructuring Act 1990. |
- | 40,000 | - | 40,000 | 40,000 |
National Provident Fund Schemes - Liability Under Crown Guarantee PLA (M31) This appropriation is limited to the net increase (excluding actuarial gains and losses) in the Crown's liability for benefits payable to members of National Provident Fund schemes under the Crown guarantee in section 60 of the National Provident Fund Restructuring Act 1990. This appropriation is authorised by section 66 of the National Provident Fund Restructuring Act 1990. |
15,000 | - | - | - | 15,000 |
New Zealand Green Investment Finance Limited - Operating Expenses (M12) This appropriation is limited to contributing to the operating costs of the New Zealand Green Investment Finance Limited. |
- | 2,800 | - | 2,800 | 2,800 |
Payments and Expenses in Respect of Guarantees and Indemnities PLA (M31) This appropriation is limited to any money paid by the Crown under, and any expenses incurred by the Crown in relation to, a guarantee or indemnity given under section 65ZD of the Public Finance Act 1989 as authorised by section 65ZG of that Act. |
- | 546,000 | - | 546,000 | 546,000 |
Review and Reform of Local Government Infrastructure Arrangements (M31) This appropriation is limited to the review and reform of disaster funding for local government infrastructure, including contributions to expenses of the Local Government Risk Agency. |
100 | 250 | - | 250 | 350 |
Unclaimed Money PLA (M31) This appropriation is limited to the repayment of money authorised by section 74(5) of the Public Finance Act 1989. |
250 | - | - | - | 250 |
Unclaimed Trust Money PLA (M31) This appropriation is limited to the repayment of money authorised by section 70(2) of the Public Finance Act 1989. |
250 | - | - | - | 250 |
Unwind of Discount Rate Used in the Present Value Calculation - Rehabilitation of Stockton Mine Acid Mine Drainage (M31) This appropriation is limited to the expense incurred in unwinding the discount rate used in the present value calculation of the Crown's liability under its Deed of Commitment relating to the rehabilitation of Stockton Acid Mine Drainage, as costs are incurred against the liability. |
3,000 | - | - | - | 3,000 |
Unwind of Discount Rate Used in the Present Value Calculation of Payment for Shares in International Financial Institutions PLA (M31) This appropriation is limited to the expense incurred in unwinding the discount rate used in the present value calculation of the liability in respect of share subscriptions in International Financial Institutions as it nears settlement, as authorised by section 5(2) of the International Finance Agreements Act 1961. |
300 | - | - | - | 300 |
Unwind of Discount Rate Used in the Present Value Calculation of Payment Under Crown Deed of Support with Southern Response Earthquake Services Ltd (M31) This appropriation is limited to the expense incurred in unwinding the discount rate used in the present value calculation of the liability as the liability nears settlement. |
550 | 500 | - | 500 | 1,050 |
Total Non-Departmental Other Expenses | 683,060 | 1,079,498 | - | 1,079,498 | 1,762,558 |
Non-Departmental Capital Expenditure | |||||
COVID-19: Capital Injections to Airways New Zealand (M31) This appropriation is limited to equity injections to Airways New Zealand in response to the impacts of COVID-19. |
- | 70,000 | - | 70,000 | 70,000 |
NZ Superannuation Fund - Contributions (M31) This appropriation is limited to capital contributions to the New Zealand Superannuation Fund, for the present and future cost of New Zealand Superannuation. |
1,460,000 | - | - | - | 1,460,000 |
Refinancing of Housing New Zealand Corporation and Housing New Zealand Limited Debt (M31) This appropriation is limited to refinancing existing Housing New Zealand Corporation and Housing New Zealand Limited Debt. |
251,246 | - | - | - | 251,246 |
Southern Response Earthquake Services Ltd: Equity Investment (M31) This appropriation is limited to the investment in Southern Response Earthquake Services Ltd. |
- | 121,000 | - | 121,000 | 121,000 |
Total Non-Departmental Capital Expenditure | 1,711,246 | 191,000 | - | 191,000 | 1,902,246 |
Multi-Category Expenses and Capital Expenditure | |||||
Crown Company Monitoring Advice MCA (M65) The single overarching purpose of this appropriation is to provide advice to shareholding or responsible Ministers to improve performance of companies that the Crown has the shareholding in and some Crown entities in order to improve the wellbeing of New Zealanders. |
4,869 | 938 | - | 938 | 5,807 |
Departmental Output Expenses | |||||
Crown Company Monitoring Advice to the Minister for State Owned Enterprises and Other Responsible Ministers This category is limited to the provision of ownership, performance monitoring and governance advice to the Minister for State Owned Enterprises and other responsible Ministers in respect of the Ministers' shareholding responsibilities or as responsible Ministers for the New Zealand Lotteries Commission and Public Trust. |
4,624 | 1,030 | - | 1,030 | 5,654 |
Crown Company Monitoring Advice to the Minister of Research, Science and Innovation This category is limited to the provision of ownership, performance monitoring and governance advice to the Minister of Research, Science and Innovation and other responsible Ministers in respect of the Ministers' responsibilities for Crown Research Institutes. |
245 | (92) | - | (92) | 153 |
Greater Christchurch Anchor Projects MCA (M85) The single overarching purpose of this appropriation is to support the recovery of Christchurch by contributing operating and capital funding for anchor projects covered by the Christchurch Central Recovery Plan. |
166,100 | 107,570 | - | 107,570 | 273,670 |
Non-Departmental Other Expenses | |||||
Christchurch Bus Interchange and Associated Transport Infrastructure - Operating This category is limited to the Crown's contribution to the development, operations and divestment of the Christchurch Bus Interchange and associated transport infrastructure. |
5,000 | 12,347 | - | 12,347 | 17,347 |
Christchurch Convention Centre - Operating This category is limited to the Crown's contribution to the development, operations and divestment of the Christchurch Convention Centre. |
7,900 | (971) | - | (971) | 6,929 |
Christchurch Stadium - Operating This category is limited to the Crown's contribution to the development, operations and divestment of the Christchurch Stadium. |
400 | 143 | - | 143 | 543 |
Financial Impact of Valuations This category is limited to expenses incurred as a result of the Crown's decisions affecting valuations. |
100 | (100) | - | (100) | - |
Leasing Anchor Project Land This category is limited to the financial impact of granting concessionary leases over anchor project land. |
100 | (100) | - | (100) | - |
Metro Sports Facility - Operating This category is limited to the Crown's contribution to the development, operations and divestment of Metro Sports Facility. |
12,000 | 41,000 | - | 41,000 | 53,000 |
Pre-Development Holding Costs - Operating This category is limited to the Crown's contribution to the maintenance, operation and ownership of anchor project land and assets prior to commencement of developments. |
6,000 | (2,597) | - | (2,597) | 3,403 |
Procurement of Land and Assets - Operating This category is limited to the Crown's contribution to the purchase, acquisition and clearance of land and assets for anchor project development. |
21,500 | 22 | - | 22 | 21,522 |
Public Space - Operating This category is limited to the Crown's contribution to the development, operations and divestment of the Crown owned public space. |
5,100 | 8,331 | - | 8,331 | 13,431 |
Sale of Land This category is limited to the financial impact from the divestment of land and transaction costs incurred in the preparation for sale and the sale of land. |
100 | (100) | - | (100) | - |
Non-Departmental Capital Expenditure | |||||
Christchurch Bus Interchange and Associated Transport Infrastructure - Capital This category is limited to the Crown's contribution to the capital development of the Christchurch Bus Interchange and associated transport infrastructure and to providing equity or loan capital to Ōtākaro Limited for that purpose. |
100 | 1,885 | - | 1,885 | 1,985 |
Christchurch Convention Centre - Capital This category is limited to the Crown's contribution to the capital development of the Christchurch Convention Centre and to providing equity or loan capital to Ōtākaro Limited for that purpose. |
98,800 | 24,809 | - | 24,809 | 123,609 |
Land and Asset Acquisition - Capital This category is limited to the Crown's contribution to the cost of land and assets to be acquired for anchor project development and to providing equity or loan capital to Ōtākaro Limited for that purpose. |
1,900 | (564) | - | (564) | 1,336 |
Metro Sports Facility - Capital This category is limited to the Crown's contribution to the capital development of Metro Sports Facility and to providing equity or loan capital to Ōtākaro Limited for that purpose. |
100 | 26,289 | - | 26,289 | 26,389 |
Public Space - Capital This category is limited to the capital development of the Crown owned public space and to providing equity or loan capital to Ōtākaro Limited for that purpose. |
7,000 | (2,824) | - | (2,824) | 4,176 |
Management of Landcorp Protected Land Agreement MCA (M31) The single overarching purpose of this appropriation is meeting the Crown's responsibilities under the Landcorp Protected Land Agreement. |
3,000 | - | - | - | 3,000 |
Non-Departmental Other Expenses | |||||
Operating Costs This category is limited to providing operating costs incurred under the Landcorp Protected Land Agreement. |
1,500 | - | - | - | 1,500 |
Non-Departmental Capital Expenditure | |||||
Capital Investments This category is limited to providing for capital investments incurred under the Landcorp Protected Land Agreement. |
1,500 | - | - | - | 1,500 |
Management of New Zealand House, London MCA (M31) The single overarching purpose of this appropriation is to ensure that New Zealand House, London is well managed. |
14,850 | 4,444 | - | 4,444 | 19,294 |
Non-Departmental Output Expenses | |||||
Property Management This category is limited to the property management services in respect of New Zealand House, London. |
1,000 | 1,000 | - | 1,000 | 2,000 |
Non-Departmental Other Expenses | |||||
Operational Costs This category is limited to the operational costs of New Zealand House, London. |
13,000 | 2,944 | - | 2,944 | 15,944 |
Renegotiation of Lease Arrangements This category is limited to activities to re-gear the lease on New Zealand House, London (including The Royal Opera Arcade and Her Majesty's Theatre). |
100 | 500 | - | 500 | 600 |
Non-Departmental Capital Expenditure | |||||
Capital Expenditure This category is limited to capital expenditure in relation to New Zealand House, London. |
750 | - | - | - | 750 |
Management of the Crown's agreement with Taitokerau Forests Limited MCA (M31) The single overarching purpose of this appropriation is meeting the Crown's responsibilities under its agreement with Taitokerau Forests Limited. |
- | 1,306 | - | 1,306 | 1,306 |
Non-Departmental Other Expenses | |||||
Grants This category is limited to grants to Taitokerau Forests Limited for on-payment to forest owners, payable upon harvest of the forests. |
- | 300 | - | 300 | 300 |
Impairment of Loans This category is limited to the expense incurred on the impairment and write-down of loans to Taitokerau Forests Limited. |
- | 1,006 | - | 1,006 | 1,006 |
Social Housing Reform MCA (M37) The single overarching purpose of this appropriation is to improve the variety of social housing in New Zealand and grow the community housing sector, by making Housing New Zealand Corporation stock available to social housing providers. |
2,000 | 605 | - | 605 | 2,605 |
Departmental Output Expenses | |||||
Implementation of the Social Housing Reform Programme This category is limited to the policy, operational, and transactional work to implement the Government's reform of social housing. |
100 | 1,285 | - | 1,285 | 1,385 |
Non-Departmental Output Expenses | |||||
Direct Sale Costs for Implementing the Social Housing Reform Programme This category is limited to direct sales costs of implementing the Government's reform of social housing. |
1,900 | (680) | - | (680) | 1,220 |
Tax Working Group MCA (M31) The single overarching purpose of this appropriation is to enable the Tax Working Group to consider and recommend improvements in the structure, fairness and balance of the tax system. |
200 | - | - | - | 200 |
Departmental Output Expenses | |||||
Tax Working Group - Provision of Support and Advice This category is limited to providing support and advice to the Tax Working Group. |
- | 50 | - | 50 | 50 |
Non-Departmental Output Expenses | |||||
Tax Working Group - Direct Costs This category is limited to the direct costs of the Tax Working Group. |
200 | (50) | - | (50) | 150 |
Total Multi-Category Expenses and Capital Expenditure | 191,019 | 114,863 | - | 114,863 | 305,882 |
Total Annual Appropriations and Forecast Permanent Appropriations | 5,730,048 | 1,407,591 | 1,000 | 1,408,591 | 7,138,639 |
Multi-Year Appropriations#
Type, Title, Scope and Period of Appropriations | Appropriations, Adjustments and Use | $000 |
---|---|---|
Non-Departmental Capital Expenditure | ||
COVID-19: Capital Injections to New Zealand Post Limited (M31) This appropriation is limited to equity injections to New Zealand Post Limited in response to the impacts of COVID-19. Commences: 06 May 2020 Expires: 30 June 2021 |
Original Appropriation | 150,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 150,000 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 80,000 | |
Estimate for 2020/21 | 70,000 | |
Estimated Appropriation Remaining | - | |
COVID-19: Loans to Air New Zealand (M31) This appropriation is limited to loans to Air New Zealand as part of the Government's response to COVID-19. Commences: 23 March 2020 Expires: 30 June 2021 |
Original Appropriation | 900,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 900,000 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 300,000 | |
Estimate for 2020/21 | 600,000 | |
Estimated Appropriation Remaining | - | |
Crown Infrastructure Partners Limited - Equity Injection (M31) This appropriation is limited to investment in Crown Infrastructure Partners Limited. Commences: 09 April 2018 Expires: 30 June 2022 |
Original Appropriation | 600,000 |
Adjustments to 2018/19 | (308,000) | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 292,000 | |
Actual to 2018/19 Year End | 17,000 | |
Estimated Actual for 2019/20 | 7,000 | |
Estimate for 2020/21 | 14,452 | |
Estimated Appropriation Remaining | 253,548 | |
New Zealand Green Investment Finance Ltd - Equity Injections for Capital Investments (M12) This appropriation is limited to the provision of equity injections into New Zealand Green Investment Finance Ltd for its capital investments. Commences: 12 April 2019 Expires: 30 June 2023 |
Original Appropriation | 100,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 100,000 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 40,000 | |
Estimate for 2020/21 | 20,000 | |
Estimated Appropriation Remaining | 40,000 | |
New Zealand Green Investment Finance Ltd - Equity Injections for Operating Expenditure (M12) This appropriation is limited to the provision of equity injections into New Zealand Green Investment Finance Ltd for its operating expenditure. Commences: 12 April 2019 Expires: 30 June 2023 |
Original Appropriation | 30,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 30,000 | |
Actual to 2018/19 Year End | 6,000 | |
Estimated Actual for 2019/20 | 3,000 | |
Estimate for 2020/21 | 6,000 | |
Estimated Appropriation Remaining | 15,000 | |
Participation in Dividend Reinvestment Plans by the Mixed Ownership Model Companies (M31) This appropriation is limited to the Crown acquiring new shares in Air New Zealand Limited, Genesis Energy Limited, Mercury NZ Limited and Meridian Energy Limited as a result of the Crown's participation in any dividend reinvestment plans carried out by the companies. Commences: 14 February 2018 Expires: 30 June 2022 |
Original Appropriation | 80,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 80,000 | |
Actual to 2018/19 Year End | 30,693 | |
Estimated Actual for 2019/20 | 19,030 | |
Estimate for 2020/21 | 20,000 | |
Estimated Appropriation Remaining | 10,277 | |
Transfer of Anchor Project Assets to Ōtākaro Limited (M85) This appropriation is limited to the transfer of Christchurch anchor project assets to Ōtākaro Limited. Commences: 01 April 2016 Expires: 30 June 2020 |
Original Appropriation | 500,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | (50,000) | |
Adjusted Appropriation | 450,000 | |
Actual to 2018/19 Year End | 274,456 | |
Estimated Actual for 2019/20 | - | |
Estimate for 2020/21 | - | |
Estimated Appropriation Remaining | 175,544 | |
Venture Capital Fund (M31) This appropriation is limited to the provision of capital to support the development of markets for early stage equity finance and venture capital. Commences: 01 May 2020 Expires: 30 April 2024 |
Original Appropriation | 259,500 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 259,500 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 39,500 | |
Estimate for 2020/21 | 80,000 | |
Estimated Appropriation Remaining | 140,000 |
Multi-Year Multi-Category Appropriations#
Title, Overarching Purpose and Period of Appropriations and Type and Scope of Categories | Appropriations, Adjustments and Use | $000 |
---|---|---|
Policy Advice and Financial Services (M31) The single overarching purpose of this appropriation is to provide the government with high quality policy and financial advice and to deliver financial services. Commences: 01 July 2019 Expires: 30 June 2024 |
Original Appropriation | 347,949 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | 20,351 | |
Adjusted Appropriation | 368,300 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 80,579 | |
Estimate for 2020/21 | 72,369 | |
Estimated Appropriation Remaining | 215,352 | |
Departmental Output Expenses | ||
Crown Lending and Bank Accounts This category is limited to the management, administration and monitoring of Crown lending and Crown Bank Accounts. |
Original Amount | 2,261 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | (1) | |
Adjusted Amount | 2,260 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 462 | |
Estimate for 2020/21 | 451 | |
Estimated Amount Remaining | 1,347 | |
Export Credit This category is limited to the provision and monitoring of export credit and financial guarantees to support the financing and insurance of New Zealand exports, excluding the cost of claims under a guarantee given under this scheme. |
Original Amount | 10,454 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | (1) | |
Adjusted Amount | 10,453 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 2,137 | |
Estimate for 2020/21 | 2,087 | |
Estimated Amount Remaining | 6,229 | |
Fiscal Management and Reporting This category is limited to the preparation of the government's Budget, and of forecast and financial reporting on the government reporting entity. |
Original Amount | 49,935 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | 1,410 | |
Adjusted Amount | 51,345 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 11,615 | |
Estimate for 2020/21 | 9,966 | |
Estimated Amount Remaining | 29,764 | |
Investment Management and Asset Performance This category is limited to services to improve investment performance and asset management in the State sector. |
Original Amount | 36,183 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Amount | 36,183 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 7,396 | |
Estimate for 2020/21 | 7,222 | |
Estimated Amount Remaining | 21,565 | |
Policy Advice This category is limited to the provision of advice (including second opinion advice and contributions to policy advice led by other agencies) to support decision-making by Ministers on government policy matters relating to Finance. |
Original Amount | 249,116 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | 18,943 | |
Adjusted Amount | 268,059 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 58,969 | |
Estimate for 2020/21 | 52,643 | |
Estimated Amount Remaining | 156,447 | |
Earthquake Commission - On-Sold Canterbury Properties (M86) The single overarching purpose of this appropriation is to provide a timely, fair, and enduring resolution of on-sold over-cap claims resulting from the Canterbury earthquake sequence. Commences: 01 September 2019 Expires: 30 June 2022 |
Original Appropriation | 300,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 300,000 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 296,500 | |
Estimate for 2020/21 | 2,000 | |
Estimated Appropriation Remaining | 1,500 | |
Non-Departmental Output Expenses | ||
Claims Handling and Other Administrative Costs This category is limited to payment of administrative expenses and other costs arising from the assessment, settlement, and payment of ex-gratia payments made to Canterbury residents as part of the On-Sold Canterbury Properties package. |
Original Amount | 5,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Amount | 5,000 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 1,500 | |
Estimate for 2020/21 | 2,000 | |
Estimated Amount Remaining | 1,500 | |
Non-Departmental Other Expenses | ||
Repair of Canterbury Properties This category is limited to ex-gratia payments made to Canterbury residents to resolve on-sold over-cap claims resulting from the Canterbury earthquake sequence. |
Original Amount | 295,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Amount | 295,000 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 295,000 | |
Estimate for 2020/21 | - | |
Estimated Amount Remaining | - |
Total Annual Appropriations and Forecast Permanent Appropriations and Multi-Year Appropriations#
2019/20 | ||||||
---|---|---|---|---|---|---|
Estimates Budget $000 |
Supplementary Estimates Budget $000 |
Addition to the Supplementary Estimates Budget $000 |
Cumulative Supplementary Estimates Budget $000 |
Total Budget $000 |
||
Total Annual Appropriations and Forecast Permanent Appropriations | 5,730,048 | 1,407,591 | 1,000 | 1,408,591 | 7,138,639 | |
Total Forecast MYA Non-Departmental Capital Expenditure (see Note 1) | 348,887 | 235,187 | 150,000 | 385,187 | 734,074 | |
Total Forecast MYA Multi-Category Expenses and Capital Expenditure | 71,013 | 306,066 | - | 306,066 | 377,079 | |
Total Annual Appropriations and Forecast Permanent Appropriations and Multi-Year Appropriations | 6,149,948 | 1,948,844 | 151,000 | 2,099,844 | 8,249,792 |
Note 1 - The amounts included in the Addition to the Supplementary Estimates figure, Cumulative Supplementary Estimates figure and the Total Budget figure in respect of the new MYA “COVID-19: Capital Injections to New Zealand Post Limited” include the entire appropriated amount (being the amount approved through the Addition to the Supplementary Estimates) rather than reflecting the forecast profile. The forecast profile can be found in the MYA tables above.
Capital Injection Authorisations#
2019/20 | |||||
---|---|---|---|---|---|
Estimates Budget $000 |
Supplementary Estimates Budget $000 |
Addition to the Supplementary Estimates Budget $000 |
Cumulative Supplementary Estimates Budget $000 |
Total Budget $000 |
|
The Treasury - Capital Injection (M31) | - | 872 | - | 872 | 872 |
Supporting Information#
Part 1 - Vote as a Whole#
1.2 - Trends in the Vote
Summary of Financial Activity
2019/20 | |||||
---|---|---|---|---|---|
Estimates $000 |
Cumulative Supplementary Estimates | Total $000 |
|||
Departmental Transactions $000 |
Non-Departmental Transactions $000 |
Total Transactions $000 |
|||
Appropriations | |||||
Output Expenses | 62,812 | (346) | 5,683 | 5,337 | 68,149 |
Benefits or Related Expenses | - | N/A | - | - | - |
Borrowing Expenses | 3,075,926 | - | 17,893 | 17,893 | 3,093,819 |
Other Expenses | 683,060 | - | 1,079,498 | 1,079,498 | 1,762,558 |
Capital Expenditure | 2,066,118 | - | 576,187 | 576,187 | 2,642,305 |
Intelligence and Security Department Expenses and Capital Expenditure | - | - | N/A | - | - |
Multi-Category Expenses and Capital Expenditure (MCA) | |||||
Output Expenses | 79,082 | 11,839 | 1,770 | 13,609 | 92,691 |
Other Expenses | 72,800 | - | 357,725 | 357,725 | 430,525 |
Capital Expenditure | 110,150 | N/A | 49,595 | 49,595 | 159,745 |
Total Appropriations | 6,149,948 | 11,493 | 2,088,351 | 2,099,844 | 8,249,792 |
Crown Revenue and Capital Receipts | |||||
Tax Revenue | - | N/A | - | - | - |
Non-Tax Revenue | 3,198,356 | N/A | 93,780 | 93,780 | 3,292,136 |
Capital Receipts | 344,900 | N/A | (20,510) | (20,510) | 324,390 |
Total Crown Revenue and Capital Receipts | 3,543,256 | N/A | 73,270 | 73,270 | 3,616,526 |
Part 2 - Details of Departmental Appropriations#
2.1 - Departmental Output Expenses
Administration of Guarantees and Indemnities given by the Crown PLA (M31)
Scope of Appropriation
Expenses and Revenue
2019/20 | ||||
---|---|---|---|---|
Estimates $000 |
Supplementary Estimates $000 |
Addition to the Supplementary Estimates $000 |
Total $000 |
|
Total Appropriation | 110 | 1,000 | 1,000 | 2,110 |
Revenue from the Crown | 109 | 1,000 | 1,000 | 2,109 |
Revenue from Others | 1 | - | 1 |
Reasons for Change in Appropriation
This appropriation increased by a further $1 million to $2.110 million for 2019/20 due to additional costs related to implementing and managing the Business Finance Guarantee Scheme.
Part 3 - Details of Non-Departmental Appropriations#
3.5 - Non-Departmental Capital Expenditure
Type, Title, Scope and Period of Appropriations | Appropriations, Adjustments and Use | $000 |
---|---|---|
COVID-19: Capital Injections to New Zealand Post Limited (M31) This appropriation is limited to equity injections to New Zealand Post Limited in response to the impacts of COVID-19. Commences: 06 May 2020 Expires: 30 June 2021 |
Original Appropriation | 150,000 |
Adjustments to 2018/19 | - | |
Adjustments for 2019/20 | - | |
Adjusted Appropriation | 150,000 | |
Actual to 2018/19 Year End | - | |
Estimated Actual for 2019/20 | 80,000 | |
Estimate for 2020/21 | 70,000 | |
Estimated Appropriation Remaining | - |
What is Intended to be Achieved with this Appropriation
This appropriation is intended to fund the Crown's contribution to New Zealand Post Limited in response to the impacts of COVID-19.
How Performance will be Assessed and End of Year Reporting Requirements
Assessment of Performance | 2019/20 | ||
---|---|---|---|
Estimates Standard |
Cumulative Supplementary Estimates Standard |
Total Standard |
|
Payments are made in accordance with the terms and conditions of the relevant agreements. | New Measure for 2019/20 |
Achieved | Not Achieved |
End of Year Performance Reporting
Performance information for this appropriation will be reported by the Minister of Finance in a report appended to the Treasury's Annual Report.
Reasons for Change in Appropriation
This is a new appropriation for 2019/20.