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STATEMENT OF COMPREHENSIVE REVENUE AND EXPENSE
for the year ended 30 June 2016
| Actual 2014/15 $000 | Note | Actual 2015/16 $000 | Unaudited Main Estimates 2015/16 $000 | Unaudited Supplementary Estimates 2015/16 $000 | Unaudited forecast* 2016/17 $000 | |
| Revenue | ||||||
| 31,273 | Revenue Crown | 2 | 32,223 | 32,473 | 32,808 | 32,765 |
| 429 | Other revenue | 3 | 660 | 320 | 662 | 345 |
| 31,702 | Total revenue | 32,883 | 32,793 | 33,470 | 33,110 | |
| Expenses | ||||||
| 16,464 | Personal expenses | 4 | 16,682 | 17,320 | 16,720 | 16,920 |
| 10,793 | Other operating expenses | 5 | 11,719 | 11,176 | 11,690 | 12,213 |
| 3,559 | Contractual payments to Crown entities | 6 | 3,658 | 3,517 | 3,658 | 3,916 |
| 217 | Capital | 7 | 225 | 220 | 220 | 220 |
| 519 | Depreciation - property, plant and equipment | 10 | 539 | 351 | 517 | 156 |
| 74 | Amortisation - intangible assets | 11 | 60 | 209 | (85) | 60 |
| 56 | Finance cost | 14 | - | - | - | - |
| - | Release of provisions | 15 | (375) | - | 375 | - |
| 31,682 | Total expenses | 32,508 | 32,793 | 33,095 | 33,485 | |
| 20 | Net surplus | 375 | - | 375 | (375) | |
| Other comprehensive revenue and expenditure | ||||||
| 102 | Gain on revaluation | 10 | 505 | - | - | - |
| - | Loss on disposal | 10 | (505) | - | - | - |
| 122 | Total comprehensive revenue and expense | 375 | - | 375 | (375) |
Explanations of significant variances against budget are detailed in note 22.
STATEMENT OF MOVEMENTS IN EQUITY
for the year ended 30 June 2016
| Actual 2014/15 $000 | Note | Actual 2015/16 $000 | Unaudited Main Estimates 2015/16 $000 | Unaudited Supplementary Estimates 2015/16 $000 | Unaudited forecast* 2016/17 $000 | |
| 2,708 | Balance at 1 July | 2,810 | 2,810 | 2,810 | 3,185 | |
| 122 | Total comprehensive income | 375 | - | 375 | (375) | |
| - | Gain on revaluation | 505 | - | 505 | - | |
| - | Loss on disposal | (505) | - | (505) | - | |
| Owner transactions | ||||||
| (20) | Provision to repay surplus | - | - | - | - | |
| 2,810 | Balance at 30 June | 8 | 3,185 | 2,810 | 3,185 | 2,810 |
*The statement of accounting policies provides explanations of these forecast figures.
The notes form an integral part of, and should be read in conjunction with, the financial statements.
STATEMENT OF FINANCIAL POSITION
as at 30 June 2016
| Actual 2014/15 $000 | Note | Actual 2015/16 $000 | Unaudited Main Estimates 2015/16 $000 | Unaudited Supplementary Estimates 2015/16 $000 | Unaudited forecast* 2016/17 $000 | |
| Equity | ||||||
| 1,947 | Taxpayers funds | 2,322 | 1,947 | 2,322 | 1,947 | |
| 863 | Revaluation reserve - Aerodrome & land | 863 | 863 | 863 | 863 | |
| 2,810 | Total equity | 8 | 3,185 | 2,810 | 3,185 | 2,810 |
| Represented by: | ||||||
| Current assets | ||||||
| 2,763 | Cash and cash equivalents | 19 | 2,951 | 3,341 | 2,839 | 1,736 |
| 3,454 | Debtors, prepayments and other receivables | 9 | 3,962 | 2,950 | 3,453 | 3,453 |
| 6,217 | Total current assess | 6,913 | 6,291 | 6,292 | 5,189 | |
| Non-current assets | ||||||
| 1,836 | Property, plant and equipment | 10 | 1,427 | 1,794 | 1,879 | 1,883 |
| 104 | Intangible assets | 11 | 35 | 485 | 279 | 459 |
| 1,940 | Total non-current assets | 1,462 | 2,279 | 2,158 | 2,342 | |
| 8,157 | Total assets | 8,375 | 8,570 | 8,450 | 7,531 | |
| Current liabilities | ||||||
| 1,996 | Creditors and other other payables under exchange transactions | 12 | 2,294 | 2,889 | 2,058 | 2,026 |
| 1,510 | Employee entitlements | 13 | 1,194 | 1,235 | 1,386 | 1,618 |
| - | Provision for lease make-good | 14 | 500 | - | - | - |
| 20 | Provision to repay surplus | - | - | - | - | |
| 3,526 | Total current liabilities | 3,988 | 4,124 | 3,444 | 3,644 | |
| Non-current liabilities | ||||||
| 1,077 | Employee entitlements | 13 | 1,202 | 948 | 1,077 | 1,077 |
| 744 | Provision for lease make-good | 14 | - | 688 | 744 | - |
| 1,821 | Total non-current liabilities | 1,202 | 1,636 | 1,821 | 1,077 | |
| 5,347 | Total liabilities | 5,190 | 5,760 | 5,265 | 4,721 | |
| 2,810 | Net assets | 3,185 | 2,810 | 3,185 | 2,810 |
*The statement of accounting policies provides explanations of these forecast figures.
The notes form an integral part of, and should be read in conjunction with, the financial statements.
STATEMENT OF CASH FLOWS
for the year ended 30 June 2016
| Actual 2014/15 $000 | Note | Actual 2015/16 $000 | Unaudited Main Estimates 2015/16 $000 | Unaudited Supplementary Estimates 2015/16 $000 | Unaudited forecast* 2016/17 $000 | |
| Cash flows from operating activities | ||||||
| 30,931 | Crown revenue | 31,749 | 32,473 | 32,809 | 32,765 | |
| 68 | Departments | 8 | - | 8 | - | |
| 125 | Crown entities | 339 | 90 | 115 | 115 | |
| 211 | Other revenue | 260 | 230 | 539 | 230 | |
| (16,553) | Personnel costs | (16,875) | (17,320) | (16,720) | (16,920) | |
| (11,255) | Operating expenses | (11,441) | (11,176) | (12,065) | (12,358) | |
| (3,559) | Contractual payments to Crown entities | (3,658) | (3,517) | (3,658) | (3,916) | |
| (220) | Net GST paid | 189 | - | (61) | - | |
| (217) | Capital charge | (225) | (220) | (220) | (220) | |
| (469) | Net cash flows from operating activities | 16 | 347 | 560 | 747 | (304) |
| Cash flows from investing activities | ||||||
| (84) | Purchase of property, plant and equipment | (130) | (140) | (560) | (660) | |
| (49) | Purchase | (9) | (210) | (90) | (63) | |
| (133) | Net cash flows from investing activities | (139) | (350) | (650) | (723) | |
| Cash flows from financing activities | ||||||
| - | Repayment of surplus | (20) | - | (21) | - | |
| - | Net cash flows from financing activities | (20) | - | (21) | - | |
| (602) | Net increase/(decrease) in cash held | 188 | 210 | 76 | (1,027) | |
| 3,365 | Cash at 1 July | 2,763 | 3,131 | 2,763 | 2,763 | |
| 2,763 | Total cash at 30 June | 2,951 | 3,341 | 2,839 | 1,736 |
*The statement of accounting policies provides explanations of these forecast figures.
The net GST paid component of operating activities reflects the net GST paid to and received from the Inland Revenue Department. This component is presented on a net basis, as the gross amounts do not provide meaningful information for financial statement purposes and to be consistent with the presentation basis of the other primary financial statements.
The notes form an integral part of, and should be read in conjunction with, the financial statements.
STATEMENT OF COMMITMENTS
as at 30 June 2016
Non-cancellable operating lease commitments
The Ministry leases property in the normal course of business.
The Ministry is to move from its 89 The Terrace, Wellington premises in August 2016 and so will surrender its existing lease. It is moving to premises that it will share with Statistics New Zealand.
Statistics New Zealand will be the lessee of the building and the Ministry will sign a co-location agreement with them. The full lease commitment is disclosed in the Statistics New Zealand financial statements, and so is not disclosed below.
| Actual 2014/15 $000 | Actual 2015/16 $000 | |
| Non-cancellable operating lease commitments | ||
| 1,417 | No later than 1 year | 381 |
| 2,364 | Later than 1 year and not later than 5 years | - |
| - | Later than 5 years | - |
| 3,781 | Total non-canellable operating lease commitments | 381 |
There are no restrictions placed on the Ministry by its leasing arrangements. The amount disclosed is based on the current rental rates. Total operating lease cost is expensed on a straight-line basis over the life of the lease.
The decrease in commitments is because the Ministry is no longer reflecting a lease commitment due to its new accommodation arrangements disclosed above.
Capital commitments
The Ministry has no capital commitments as at 30 June 2016 (2014/15: $nil).
STATEMENT OF CONTINGENT LIABILITIES AND CONTINGENT ASSETS
as at 30 June 2016
The Ministry has no quantifiable contingent liabilities, or contingent assets as at 30 June 2016 (2014/15: $nil).
The Ministry is not recognising a contingent asset from the future recovery of funds subject to the possible fraud (note 26) as it is unable to assess the likelihood of any recovery at this time.
The notes form an integral part of, and should be read in conjunction with, the financial statements.