Fiscal Summary
for the year ended 30 June 2010
- Fiscal Summary
Summary Statement of Financial Performance
for the year ended 30 June 2010
| Forecast | Actual | |||
|---|---|---|---|---|
| Original Budget $billion |
Estimated Actuals $billion |
30 June 2010 $billion |
30 June 2009 $billion |
|
| Revenue | ||||
| 51.1 | 50.2 | Taxation revenue | 50.3 | 54.1 |
| 4.9 | 4.7 | Other sovereign revenue | 4.7 | 4.1 |
| 55.9 | 54.9 | Total revenue levied through the Crown's sovereign power | 55.0 | 58.3 |
| 16.0 | 14.3 | Sales of goods and services | 14.3 | 15.4 |
| 3.2 | 3.3 | Interest revenue and dividends | 2.3 | 3.0 |
| 2.8 | 3.2 | Other revenue | 3.1 | 2.9 |
| 22.0 | 20.8 | Total revenue earned through operations | 19.7 | 21.2 |
| 77.9 | 75.7 | Total revenue (excluding gains) | 74.7 | 79.5 |
| Expenses | ||||
| 25.1 | 24.4 | Social security and welfare | 24.2 | 23.3 |
| 12.8 | 12.7 | Health | 12.7 | 12.0 |
| 12.1 | 12.6 | Education | 12.4 | 12.5 |
| 8.9 | 8.0 | Transport and communications | 8.0 | 9.0 |
| 23.5 | 21.8 | Other functional expenses | 20.9 | 23.5 |
| 3.3 | 3.6 | Finance costs | 2.8 | 3.1 |
| - | (0.5) | Forecasting adjustments | - | - |
| 85.7 | 82.6 | Total expenses (excluding losses) | 81.0 | 83.4 |
| (7.7) | (6.9) | Operating balance before gains and losses (OBEGAL) | (6.3) | (3.9) |
| 1.4 | 3.9 | Net gains/(losses) on financial instruments | 2.5 | (2.6) |
| 0.2 | (0.2) | Net gains/(losses) on non-financial instruments | (1.0) | (4.2) |
| 1.6 | 3.7 | Total gains/(losses) | 1.6 | (6.8) |
| 0.4 | - | Net surplus/(deficit) from associates and joint ventures | 0.2 | 0.2 |
| (5.7) | (3.2) | Operating balance (including minority interest) | (4.5) | (10.5) |
| - | - | Operating balance attributable to minority interest in Air NZ | - | - |
| (5.7) | (3.2) | Operating Balance | (4.5) | (10.5) |
| - | 0.2 | Total income/(expense) recognised directly in Net Worth | - | 4.5 |
| (5.7) | (3.0) | Total recognised income and expense | (4.5) | (6.0) |
Summary Statement of Cash Flows
for the year ended 30 June 2010
| Forecast | Actual | |||
|---|---|---|---|---|
| Original Budget $billion |
Estimated Actuals $billion |
30 June 2010 $billion |
30 June 2009 $billion |
|
| Cash Flows From Operations | ||||
| Cash was provided from | ||||
| 50.3 | 50.3 | Taxation receipts | 50.1 | 51.1 |
| 26.2 | 24.9 | Other operating receipts | 24.0 | 25.3 |
| Cash was disbursed to | ||||
| (21.2) | (21.5) | Social assistance and official development assistance | (21.3) | (19.7) |
| (54.1) | (51.0) | Personnel and operating payments | (50.8) | (50.3) |
| (3.0) | (3.0) | Interest payments | (2.4) | (2.9) |
| (1.8) | (0.3) | Net cash flows from operations | (0.4) | 3.5 |
| Cash Flows From Investing Activities | ||||
| Cash was provided from | ||||
| 27.1 | 42.6 | Sale of shares and other securities | 42.2 | 38.6 |
| 3.2 | 4.2 | Other capital receipts | 4.1 | 4.5 |
| Cash was disbursed to | ||||
| (8.0) | (7.0) | Purchase of physical assets | (6.3) | (6.2) |
| (23.2) | (44.4) | Purchase of shares and other securities | (40.2) | (40.3) |
| (3.6) | (4.1) | Issue of advances | (3.8) | (4.8) |
| (0.3) | (0.3) | Purchase of other assets | (0.6) | (1.5) |
| - | 0.1 | Forecast adjustments | - | - |
| (4.8) | (8.9) | Net cash flows from investing activities | (4.7) | (9.7) |
| (6.6) | (9.2) | Net cash flows from operating and investing activities | (5.0) | (6.3) |
| Cash Flows From Financing Activities | ||||
| Cash was provided from | ||||
| 0.2 | - | Issues of circulating currency | - | 0.5 |
| 9.0 | 13.5 | Issue of Government stock and treasury bills | 13.9 | 6.1 |
| 6.8 | 6.2 | Issue other borrowing | 8.5 | 13.2 |
| Cash was disbursed to | ||||
| (5.1) | (5.7) | Repayment of Government stock and treasury bills | (6.7) | (3.8) |
| (4.6) | (4.8) | Repayment of other borrowing | (9.0) | (7.3) |
| 6.3 | 9.2 | Net cash flows from financing activities | 6.7 | 8.7 |
| (0.3) | - | Net movement in cash | 1.7 | 2.5 |
| 5.4 | 6.3 | Opening Cash Balance | 6.3 | 3.8 |
| - | (0.1) | Foreign exchange movements | (0.2) | - |
| 5.0 | 6.1 | Closing Cash Balance | 7.8 | 6.3 |
Summary Statement of Financial Position
as at 30 June 2010
| Forecast | Actual | |||
|---|---|---|---|---|
| Original Budget $billion |
Estimated Actuals $billion |
30 June 2010 $billion |
30 June 2009 $billion |
|
| Assets | ||||
| 5.0 | 6.1 | Cash and cash equivalents | 7.8 | 6.3 |
| 14.1 | 13.8 | Receivables | 13.9 | 14.6 |
| 49.7 | 45.5 | Marketable securities, deposits and derivatives in gain | 43.7 | 45.7 |
| 11.9 | 15.7 | Share investments | 12.2 | 11.2 |
| 17.3 | 18.0 | Advances | 18.4 | 15.6 |
| 110.3 | 113.6 | Property, plant & equipment | 113.3 | 110.1 |
| 14.2 | 13.9 | Other assets | 14.1 | 13.7 |
| (0.3) | (0.1) | Forecast adjustments | - | - |
| 222.2 | 226.5 | Total assets | 223.4 | 217.2 |
| Liabilities | ||||
| 4.2 | 4.1 | Issued currency | 4.0 | 4.0 |
| 10.3 | 9.0 | Payables | 9.9 | 9.1 |
| 1.2 | 1.3 | Deferred revenue | 1.6 | 1.4 |
| 76.4 | 73.6 | Borrowings | 69.7 | 62.0 |
| 25.3 | 27.3 | Insurance liabilities | 27.1 | 26.6 |
| 10.3 | 9.2 | Retirement plan liabilities | 9.9 | 9.0 |
| 4.5 | 5.5 | Provisions | 6.0 | 5.6 |
| 132.3 | 130.0 | Total liabilities | 128.4 | 117.6 |
| 89.9 | 96.5 | Total assets less total liabilities | 95.0 | 99.5 |
| Net Worth | ||||
| 95.6 | 99.5 | Net worth at start of year | 99.5 | 105.5 |
| (5.7) | (3.2) | Operating balance excluding minority interest | (4.5) | (10.5) |
| - | 0.2 | Net revaluations and other movements | - | 4.5 |
| 89.9 | 96.5 | Total net worth | 95.0 | 99.5 |
Note: Totals may not add due to rounding
These summary financial statements comply with generally accepted accounting practice as it relates to summary financial statements.
The information in these summary statements is drawn from and is consistent with information presented in the full financial statements of the Government for the year ended 30 June 2010. These were authorised for issue on 30 September 2010.
The Government is a public benefit entity and the full financial statements of the Government have been prepared in accordance with generally accepted accounting practice as it applies to such entities. The full financial statements received an unqualified audit opinion.
These summary financial statements cannot be expected to provide as complete an understanding as provided by the full financial statements, which can be obtained from www.treasury.govt.nz/government/financialstatements/.