General Publications
Department of Labour Annual Report 2006
Financial statements
Notes to the schedules
| Actual 30 June 2005 $000 | Actual 30 June 2006 $000 | |
|---|---|---|
| 5,032 | Debtors and Receivables | 5,168 |
| 482 | Prepayments | 470 |
| 5,514 | Total Receivables and Advances | 5,638 |
3 Provisions
| Actual 30 June 2005 $000 | Actual 30 June 2006 $000 | |
|---|---|---|
| 244 | Annual leave | 276 |
| 244 | 276 |
| Actual 30 June 2005 $000 | Actual 30 June 2006 $000 | |
|---|---|---|
| 10 | Long service leave | 14 |
| 147 | Retirement leave | 162 |
| 157 | 176 |
| Actual 30 June 2005 $000 | Actual 30 June 2006 $000 | |
|---|---|---|
| 401 | Total Provisions | 452 |
4 Vote ACC
Funding is provided by the Government through the Department of Labour to ACC for costs relating to the Non-Earners’ Account. The Non-Earners’ Account covers all personal injuries to people not in the paid workforce; students, beneficiaries, older people and children.
For claims that originated after 1 July 2001, ACC funding is provided based on an actuarial assessment of the whole-of-life cost. This is reassessed annually and funding appropriated from the Crown and provided to ACC. This is referred to as ‘fully funded’ and cost $600.821 million in 2005/06.
For claims that originated prior to 1 July 2001, ACC funding is provided to cover the costs relating to claims in the year the costs are incurred. The cost of this is assessed during the year and appropriation sought from the Crown and funding provided to ACC. This is referred to as ‘pay as you go’ and cost $92.902 million in 2005/06.
5 Explanation of major budget changes
The Supplementary Estimates of Appropriations for the year ending 30 June 2006 explain all budget changes between the 2005/06 Main Estimates and the 2005/06 Supplementary Estimates as follows:
- Vote ACC – Supplementary Estimates of Appropriations, B7 Vol 1 – Pages 1 to 5
- Vote Employment – Supplementary Estimates of Appropriations, B7 Vol 1 – Pages 171 to 175
- Vote Immigration – Supplementary Estimates of Appropriations, B7 Vol 1 – Pages 255 to 259
- Vote Labour – Supplementary Estimates of Appropriations, B7 Vol 1 – Pages 277 to 284.
6 Explanation of significant actual variations
The following notes explain the significant variances between Supplementary Estimates and Actuals. Explanations are provided for variances of greater than $1 million or 5%.
Schedule of Non-Departmental Expenditure and Appropriations
Expenditure higher (lower) $000 |
|
|---|---|
| Vote Labour – Non-Departmental Output Classes Pay and Employment Equity Contestable Fund Slower than anticipated completion of the 2004/05 contracts 2005/06 contracts commenced later than expected An "in principle" expense transfer of up to $510,000 to 2006/07 has been approved |
(621) |
| Vote Labour – Non-Departmental Output Classes Employment Relations Education Contestable Fund Slower than anticipated completion of the 2004/05 and earlier contracts Later than expected commencement of 2005/06 contracts An "in principle" expense transfer of up to $1,750,000 to 2006/07 has been approved |
(1,873) |
| Vote Labour – Other Expenses to be incurred by the Crown International Labour Organisation Savings gained from a favourable foreign exchange rate between NZ Dollar and Swiss Franc when New Zealand’s annual subscription to the International Labour Organisation (ILO) was paid |
(447) |
| Vote ACC – Other Expenses to be incurred by the Crown Victims of Tsunami in Indian Ocean New non-departmental output class in 2004/05 Created to provide for cost of claims for trauma treatment, as part of the governmental response to the tsunami disaster of 26 December 2004 No claims made against this appropriation in 2005/06 |
(50) |
Schedule of Non-Departmental Assets
Net Assets higher (lower) $000 |
|
|---|---|
| Cash and Bank Balances Receipt of funds on 30 June 2006 from ACC relating to the operation of the Occupational Safety and Health service. |
10,940 |
| Receivables and Advances TEC Refund of forfeited English for Migrants Funds |
3,851 |
Schedule of Non-Departmental Liabilities
Net Assets higher (lower) $000 |
|
|---|---|
| Creditors and Payables Higher than budgeted GST Payable |
919 |