392 results found
  • Information Release: Regulatory Stewardship Expectations

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    The Cabinet paper and minute released below outline the following new initiatives: expectations for department’s regulatory stewardship responsibilities, and disclosure requirements for legislation and regulation produced by the government. A...

  • Company and entity performance advice

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    The Treasury provides advice to Ministers to enhance the value of the Crown’s ownership of companies and entities.  Features of the portfolio Information on each type of company and entity for which the Treasury provides advice is under ...

  • How the Treasury provides performance advice

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    Good governance and performance advice matter. The Treasury’s advice to Ministers aims to ensure that companies and entities perform well and deliver against their objectives, and that the Crown maximises the long-term value it gets from ownership....

  • Types of companies and entities

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    State-owned enterprises State-owned enterprises (SOEs) are Crown-owned companies that are expected to be as profitable and efficient as comparable businesses not owned by the Crown. SOEs are also required to be good employers and to exhibit a sense of...

  • Portfolio of companies and entities

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    The Treasury works to enhance the value of Crown ownership by providing advice to Ministers on the performance of companies and entities that are required to operate as commercial businesses or to meet mixed commercial and social objectives. Below is...

  • He Tirohanga Mokopuna

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    He Tirohanga Mokopuna, the Treasury's 2016 Statement on New Zealand's Long-Term Fiscal Position, was published on 22 November 2016.  Read the media statement by Gabs Makhlouf, Secretary to the Treasury:  The Treasury Publishes Statement on...

  • Transition to the New Public Benefit Entity (PBE) Accounting Standards for the Public Sector

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    A new multi-standards financial reporting framework was introduced in New Zealand by the External Reporting Board (XRB) in 2012. This resulted in separate suites of accounting standards for the following three sectors: for-profit public sector...

  • Public Sector PBE Standards - Comparison to NZ IFRS (PBE)

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    General The tables of differences between NZ IFRS (PBE) and the new Public Sector PBE Standards listed below are work-papers prepared by Treasury to help us identify differences between the current standards applying until 30 June 2014 (NZ IFRS [PBE])...

  • Project Timetable - Transition to the Public Sector PBE Standards

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    High Level Transition Project Timetable Phase Detail Phase 1 November 2013 The Treasury will produce a table of key differences between NZ IFRS (as applied by PBEs) versus the new Public Sector...

  • Major Projects Performance Reports

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    Government is undertaking a range of significant investment projects. From November 2015 until June 2017, Treasury published a series of Major Projects Performance reports which included an assessment of the performance of the most challenging projects...

  • CFISnet Registration

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    Template for Crown reporting entities to register their staff as users on CFISnet - the Crown's Financial and Information System. The template has been designed for entities' convenience. All entities need to do is download the template, save the word...

  • Cost Benefit Analysis including Public Sector Discount Rates

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    The Treasury encourages important public sector decisions to be informed by cost benefit analysis.  It has recently prepared a Cost Benefit Analysis guide to replace the previous Primer. The purpose of the guide is to make cost benefit analysis (...

  • The BBC Framework and the Annual Budget Process

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    Better Business Cases (BBC) is a systematic way to prepare business cases for programmes or projects. BBC is structured around the proven Five Case Model. The Five Case Model provides a disciplined, step by step approach that helps to ensure that each...

  • When is a Better Business Case required?

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    The Treasury advocates the BBC framework for all types of business cases, regardless of who has the decision rights. In the State Sector Cabinet Circular CO (19) 6: "Investment Management and Asset Performance in the State Services" states Cabinet...

  • Publications

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  • The New Zealand economy

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    The Treasury provides the Government with strategic policy advice on the New Zealand economy and produces a range of publications and economic data as part of this. New Zealand has an open economy that works on free market principles. It has sizeable...

  • Benchmarking administrative and support services

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    The Administrative and Support Services Benchmarking exercise (BASS) provided information on the cost, efficiency, and effectiveness of administrative & support services across the State sector. The results covered five functions: Human Resources,...

  • BBC and the Investment Management Life Cycle

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    Government’s investment life cycle is made up of four phases: think, plan, do and review. A business case turns an idea (think) into a proposal (plan). The four life cycle phases together create an ongoing dynamic as ideas are tested, refined and...

  • Approaches to sensitivity analysis

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    Sensitivity analysis should be undertaken using two approaches: scenario analysis and switching values. Scenario analysis - testing “what if” Scenarios are useful in considering how options may be affected by future uncertainty. Scenarios should be...

  • New Zealand Chair 2007/08

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    Page updated 28 Nov 2008 Progressing Structural Reform in APEC Economies In the Leaders’ Week Edition of the APEC E-Newsletter, Economic Committee Chair, Prof. Bob Buckle, highlights the Committees success in raising awareness of the...

  • 2013 Amendments to the Public Finance Act 1989 and Crown Entities Act 2004

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    The 2013 amendments to the Public Finance Act 1989 and the Crown Entities Act 2004: provide for more flexible funding to support results require more meaningful reporting on what is intended to be achieved and what has been achieved with expenditure...

  • Investment statements

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    In 2013, the Public Finance Act (1989) was amended to require the Treasury to report to Parliament with an Investment Statement at least every four years. The Investment Statement must: describe and state the value of the Crown’s significant assets...

  • Investor Confidence Rating - Information

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    Purpose The Investor Confidence Rating (ICR) is a rating of an agency’s investment management environment. It is an indicator of the confidence that investors (eg, Cabinet, relevant portfolio Ministers, or Government Investment Ministers) have in an...

  • Best practice regulation

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    The Best Practice Regulation model was developed by Treasury to try to provide a "common language" for discussing the performance of regulatory regimes. The Best Practice Regulation Report gathered together high-level departmental assessments of New...

  • BBC methods and tools

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    Business Case developers should consider the methods (and tools) that they will use to develop the business case. This will depend on the level of uncertainty and/or ambiguity associated with the programme or project and whether the methods (and tools)...

  • Techniques to Quantify Risk and Uncertainty

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    Optimism bias The simplest form of quantification of risk is by applying optimism bias contingencies to costs or timeframes to reflect the systematic tendency for project teams to be over-optimistic about key parameters. The adjustments can be based on...

  • Investor Confidence Rating - Outlook Discussion

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    ICR assessments are repeated every three years. Between cycles, there is a light-touch review of the progress the agency is making towards improving key aspects of its investment performance. The main feature of the approach is a discussion between the...

  • BBC expert practitioner and reviewer pilot

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    In 2014, Treasury launched an endorsed expert BBC practitioner/reviewer approach; this was intended to provide agencies developing business cases with a list of experienced and trained Better Business Cases consultants while BBC was being launched and...

  • BBC guidance

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    The Better Business Cases™ framework spans the Think and Plan phases of the investment management lifecycle.  A project or programme’s pathway through the framework depends on the decision being sought, the nature of the initiative and its scale,...

  • BBC training programme

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    The Treasury's BBC training programme is now provided by APMG and accredited training organisations (ATO’s) Background In May 2014, the Association of Project Management Group (APMG) launched certification in the foundation and practitioner courses....

  • Review: investment reviews

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    Review processes help to ensure that investment propositions are sound, offer value to New Zealand and are set up for success. Introduction In order to provide quality advice that supports good investment decisions, the IMAP team in Treasury runs a...

  • Gateway reviews

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    What is Gateway? Gateway is an assurance methodology for major investments which was developed by the United Kingdom's Office of Government Commerce (OGC) in 2001. It is an independent and confidential peer review process that examines projects and...

  • Gateway Reviews - Process & Planning

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    Programmes and projects should allow the entire process, from notification that a review is required to receipt of the final report, to take two months. The Gateway review itself takes one week including presenting the final report. Below is a summary...

  • Gateway Reviews - Review Reports

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    At the conclusion of a review the Programme/Project SRO will be provided with a Review Report summarising key findings and recommendations. The report will contain: a summary of findings, including an overall delivery confidence RAG rating key...

  • Gateway reviews - becoming a reviewer

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    There are two types of Gateway reviewers, Review Team Member (RTM) and Review Team Leader (RTL). Both public and private sector personnel can become Gateway Reviewers. To become a reviewer you need to undertake training through our training provider....

  • Gateway reviews - lessons learned

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    The IMAP investment reviews team collates and analyses the findings and recommendations of Gateway reviews and periodically publishes the results in a Lessons Learned report. These lessons learned are observations gained from Gateway reviews which...