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Statement of Forecast Financial Performance

For the year ended 30 June 2007

  2004/05
Actual
$000		 2005/06
Budget1
$000		 2005/06
Estimated
Actual
$000		 2006/07
Budget
$000

Revenue

        
Crown 10,035 24,956 24,769 33,516
Department 87 357 357 348
Other 16,687 32,885 32,885 36,233
Total operating revenue 26,809 58,198 58,011 70,097
         

Expenses

        
Output expenses:        
Personnel 15,912 26,241 26,241 28,133
Operating 13,882 31,491 30,130 40,638
Depreciation 784 1,179 1,179 2,192
Capital charge 301 332 332 880
Loss on sale of fixed assets 15 0 0 0
Total operating expenses 30,894 59,243 57,882 71,843
Net surplus/(deficit) (4,085) (1,045) 129 (1,746)

The increase in budget for output expenses in the 2006/07 financial year, relative to the 2005/06 budget, is primarily due to additional funding approved in Budget 2006 of:

  • $8.927 million for a set of measures to enhance the effectiveness and efficiency of the Weathertight Homes Resolution Service
  • $2.848 million under the Occupational Licensing output class for the transfer of the administration of the electrical workers registration system from the Ministry of Economic Development on 1 September 2006.

This statement should be read in conjunction with the Statement of Significant Underlying Assumptions and Statement of Significant Accounting Policies.

 1 This column incorporates both Main Estimates and Supplementary Estimates appropriations for 2005/06.

Statement of Forecast Financial Position

As at 30 June 2007

  2004/05
Actual
$000		 2005/06
Budget
$000		 2005/06
Estimated
Actual
$000		 2006/07
Budget
$000

Assets

        
Current assets        
Cash and bank balances 167 3,239 4,413 4,273
Receivables and advances 8,101 13,025 13,025 13,025
Debtor Crown 77 0 0 0
Total current assets 8,345 16,264 17,438 17,298
Non-current assets        
Fixed assets 3,033 9,429 9,429 12,131
Total non-current assets 3,033 9,429 9,429 12,131
Total assets 11,378 25,693 26,867 29,429
         

Liabilities

        
Current liabilities        
Payables and provisions 6,179 12,260 12,260 10,827
Provision for payment of surplus 188 2,867 2,967 1,520
Employee entitlements 590 785 785 828
Deferred revenue 0 0 0 900
Total current liabilities 6,957 15,912 16,012 14,075
Non-current liabilities        
Employee entitlements 269 300 300 350
Total liabilities 7,226 16,212 16,312 14,425
         

Taxpayers' funds

        
General funds 4,152 9,481 10,555 15,004
Total taxpayers' funds 4,152 9,481 10,555 15,004
Total net assets 11,378 25,693 26,867 29,429

This statement should be read in conjunction with the Statement of Significant Underlying Assumptions and Statement of Significant Accounting Policies.