Quantcast
Channel: Updates to Ministry of Transport
Viewing all articles
Browse latest Browse all 138

Annual Report 2014/15 - Financial performance

$
0
0

<< Previous | Contents | Next >>

STATEMENT OF COMPREHENSIVE REVENUE AND EXPENSE

for the year ended 30 June 2016

Actual 2014/15 $000 NoteActual 2015/16 $000Unaudited Main Estimates 2015/16
$000
Unaudited Supplementary Estimates 2015/16
$000
Unaudited forecast* 2016/17
$000
 Revenue     
31,273Revenue Crown232,22332,47332,808 32,765
429Other revenue3660320662345
31,702Total revenue 32,88332,79333,47033,110
 Expenses     
16,464Personal expenses416,68217,32016,72016,920
10,793Other operating expenses511,71911,176 11,69012,213
3,559Contractual payments to Crown entities63,6583,5173,6583,916
217CapitalCaptial charge7225220 220220
519Depreciation - property, plant and equipment10539351 517156
74Amortisation - intangible assetsintangiable assests1160 209 (85)60
56Finance cost14---
-Release of provisions15(375)375-
31,682Total expenses 32,50832,793 33,095 33,485
20Net surplus  375-375(375)
 Other comprehensive revenue and expenditure     
102 Gain on revaluation10 505--
 - Loss on disposal10 (505)--
122 Total comprehensive revenue and expense 375375(375)

Explanations of significant variances against budget are detailed in note 22.

Back to top

STATEMENT OF MOVEMENTS IN EQUITY

for the year ended 30 June 2016

Actual 2014/15
$000
 NoteActual 2015/16
$000
Unaudited Main Estimates 2015/16
$000
Unaudited Supplementary Estimates 2015/16
$000
Unaudited forecast* 2016/17
$000
2,708Balance at 1 July 2,8102,8102,8103,185
122Total comprehensive income 375-375(375)
-Gain on revaluation 505-505-
-Loss on disposal (505)-(505)-
 Owner transactions     
(20)Provision to repay surplus ----
2,810Balance at 30 June83,1852,8103,1852,810

*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.

Back to top

STATEMENT OF FINANCIAL POSITION

as at 30 June 2016

Actual 2014/15 $000 Note Actual 2015/16 $000 Unaudited Main Estimates 2015/16 $000Unaudited Supplementary
Estimates 2015/16
$000 
Unaudited forecast* 2016/17
$000 
 Equity     
1,947Taxpayers funds 2,3221,947 2,322 1,947 
863Revaluation reserve - Aerodrome & land 863 863 863863 
2,810Total equity83,185 2,810 3,185 2,810 
 Represented by:     
 Current assets     
2,763Cash and cash equivalents192,951 3,341 2,839 1,736 
3,454Debtors, prepayments and other receivablesrecievables under exchange transactions93,962 2,950 3,453 3,453 
6,217Total current assessassests 6,913 6,291 6,2925,189 
 Non-current assets     
1,836Property, plant and equipment10 1,427 1,794 1,8791,883 
104Intangible assets11 35 485 279 459 
1,940Total non-current assets 1,462 2,279 2,158 2,342 
8,157Total assets 8,375 8,570 8,450 7,531 
 Current liabilities     
1,996Creditors and other other payables under exchange transactions122,294 2,889 2,058 2,026 
1,510Employee entitlements13 1,194 1,235 1,386 1,618
-Provision for lease make-good14 500 
20Provision to repay surplus -
3,526Total current liabilities  3,988 4,124 3,444 3,644  
 Non-current liabilities     
1,077Employee entitlements 131,202 948 1,077 1,077 
744Provision for lease make-good 14 688 744 
1,821Total non-current liabilities  1,202 1,636 1,821 1,077 
5,347Total liabilities 5,190 5,760 5,265 4,721 
2,810Net 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.

Back to top

STATEMENT OF CASH FLOWS

for the year ended 30 June 2016

Actual 2014/15
$000
  NoteActual 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      
30,931Crown revenue 31,74932,473 32,809 32,765 
68 Departments  
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 16347 560 747 (304) 
 Cash flows from investing activities     
(84)Purchase of property, plant and equipment (130) (140)(560)(660)
(49)PurchasePurcahse of intangible assets  (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) 
3,365Cash at 1 July  2,763 3,131 2,763 2,763 
2,763Total cash at 30 June 2,9513,3412,8391,736

 *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.

Back to top

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 
1,417No later than 1 year381
2,364Later than 1 year and not later than 5 years-
-Later than 5 years-
3,781Total non-canellable operating lease commitments381

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).

Back to top

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.

Back to top

<< Previous | Contents | Next >>


Viewing all articles
Browse latest Browse all 138

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>