Annual Report 2008/09
Financial Statements
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED 30 JUNE 2009
| Actual 2008 $000 |
Note | Actual 2009 $000 |
Main estimates 2009 $000 |
Supp estimates 2009 $000 |
|
|---|---|---|---|---|---|
| Income | |||||
| 168,486 | Revenue Crown | 176,672 | 177,234 | 176,672 | |
| 3,482 | Revenue Departments | 4 | 4,482 | 3,505 | 4,576 |
| 109,004 | Revenue other | 5 | 113,844 | 117,164 | 112,488 |
| 1,198 | Finance income | 6 | 1,265 | 100 | 335 |
| 282,170 | Total income | 296,263 | 298,003 | 294,071 | |
| Expenditure | |||||
| 133,077 | Employee benefits | 7 | 151,082 | 149,877 | 150,766 |
| 11,082 | Depreciation and amortisation | 13,14 | 11,415 | 14,951 | 12,807 |
| 4,343 | Capital charge | 8 | 4,655 | 4,845 | 5,946 |
| 114,615 | Other operating costs | 9 | 122,309 | 122,428 | 131,182 |
| 13 | Finance expenses | 10 | 17 | - | - |
| 263,130 | Total expenditure | 289,478 | 292,101 | 300,701 | |
| 19,040 | Net surplus/(deficit) | 6,785 | 5,902 | (6,630) |
Explanations of significant variances against budget are detailed in note 29.
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2009
| Actual 2008 $000 |
Note | Actual 2009 $000 |
Main estimates 2009 $000 |
Supp estimates 2009 $000 |
|
|---|---|---|---|---|---|
| Assets | |||||
| Current assets | |||||
| 58,795 | Cash and cash equivalents | 60,473 | 52,724 | 51,311 | |
| 1,269 | Prepayments | 1,520 | 1,000 | 1,269 | |
| 21,751 | Debtors and other receivables | 11 | 12,240 | 2,990 | 2,969 |
| 602 | Inventories | 12 | 500 | 400 | 602 |
| 572 | Property, plant & equipment | 13 | 536 | - | - |
| 82,989 | Total current assets | 75,269 | 57,114 | 56,151 | |
| Non-current assets | |||||
| 29,455 | Property, plant & equipment | 13 | 31,631 | 43,701 | 36,003 |
| - | Debtors and other receivables | 11 | 400 | ||
| 13,963 | Intangible assets | 14 | 16,612 | 19,154 | 12,784 |
| 43,418 | Total non-current assets | 48,643 | 62,855 | 48,787 | |
| 126,407 | Total assets | 123,912 | 119,969 | 104,938 | |
| Liabilities | |||||
| Current liabilities | |||||
| 52,084 | Creditors and other payables | 15 | 40,389 | 32,395 | 23,182 |
| 4 | Finance leases | 16 | - | - | - |
| - | Derivative financial instruments | - | 31 | - | |
| 65 | Insurance liabilities | 17 | 84 | - | - |
| 8,746 | Provision for employee benefits | 18 | 9,851 | 9,339 | 11,945 |
| 29 | Other provisions | 19 | 742 | 547 | 29 |
| 60,928 | Total current liabilities | 51,066 | 42,312 | 35,156 | |
| Non-current liabilities | |||||
| - | Finance leases | 16 | - | 40 | 4 |
| 61 | Insurance liabilities | 17 | 69 | 60 | 61 |
| 3,347 | Provision for employee benefits | 18 | 3,750 | 2,455 | 3,347 |
| 3,408 | Total non-current liabilities | 3,819 | 2,555 | 3,412 | |
| 64,336 | Total liabilities | 54,885 | 44,867 | 38,568 | |
| 62,071 | Net assets | 69,027 | 75,102 | 66,370 | |
| Taxpayers' Funds | |||||
| 58,089 | General funds | 20 | 64,099 | 71,121 | 62,388 |
| 3,982 | Property, plant & equipment revaluation reserves | 20 | 4,928 | 3,981 | 3,982 |
| 62,071 | Total taxpayers' funds | 69,027 | 75,102 | 66370 |
STATEMENT OF CHANGES IN TAXPAYERS' FUNDS
FOR THE YEAR ENDED 30 JUNE 2009
| Actual 2008 $000 |
Note | Actual 2009 $000 |
Main estimates 2009 $000 |
Supp estimates 2009 $000 |
|
|---|---|---|---|---|---|
| 57,805 | Balance at 1 July | 20 | 62,070 | 62,070 | 62,070 |
| 19,040 | Net surplus/(deficit) for the year | 6,785 | 5,902 | (6,630) | |
| - | Property, plant & equipment revaluation gains/(losses) taken to equity | 13 | 946 | - | - |
| 19,040 | Total recognised income and expense | 7,731 | 5,902 | (6,630) | |
| 4,266 | Capital contribution | 6,011 | 13,032 | 6,011 | |
| (19,040) | Repayment of surplus to the Crown | (6,785) | (5,902) | 4,919 | |
| 62,071 | Balance at 30 June | 20 | 69,027 | 75,102 | 66,370 |
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2009
| Actual 2008 $000 |
Note | Actual 2009 $000 |
Main estimates 2009 $000 |
Supp estimates 2009 $000 |
|
|---|---|---|---|---|---|
| Cash flows from operating activities | |||||
| 149,938 | Receipts from Crown | 186,220 | 177,234 | 195,220 | |
| 3,483 | Receipts from Departments | 4,481 | 3,505 | 4,576 | |
| 108,784 | Other receipts | 117,335 | 117,003 | 112,722 | |
| (129,331) | Payments to employees | (149,341) | (148,144) | (149,841) | |
| (111,900) | Payments to suppliers | (124,142) | (121,645) | (136,421) | |
| (4,343) | Payments for capital charge | (4,655) | (4,845) | (5,946) | |
| 259 | Interest non-NZDMO | 252 | 100 | 335 | |
| (177) | Goods and services tax (net) | 249 | 165 | 2,506 | |
| 16,713 | Net cash from operating activities | 22 | 30,399 | 23,373 | 23,151 |
| Cash flows from investing activities | |||||
| 130 | Receipts from sale of property, plant and equipment | 527 | - | - | |
| (11,252) | Purchase of property, plant and equipment | (8,830) | (16,017) | (13,031) | |
| (4,145) | Purchase of intangible assets | (7,189) | (8,722) | (4,575) | |
| (15,267) | Net cash from investing activities | (15,492) | (24,739) | (17,606) | |
| Cash flows from financing activities | |||||
| 4,266 | Capital contribution | 6,011 | 13,032 | 6,011 | |
| (224) | Repayment of surplus | (19,040) | (21,703) | (19,040) | |
| 4,042 | Net cash from financing activities | (13,029) | (8,671) | (13,029) | |
| 5,488 | Net increase/(decrease) in cash | 1,878 | (10,037) | (7,484) | |
| 52,370 | Cash at 1 July | 58,795 | 62,761 | 58,795 | |
| 937 | Effect of exchange rate fluctuations on cash held | (200) | - | - | |
| 58,795 | Cash at 30 June | 60,473 | 52,724 | 51,311 |
The GST (net) component of operating activities reflects the net GST paid and received with the Inland Revenue Department. The GST (net) component has been presented on a net basis, as the gross amounts do not provide meaningful information for financial statement purposes.