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Statement of Intent 07/10

Contents

Part A: An overview of our strategy

Part B: Current year forecasts

Part C: Additional information

Statement of prospective financial performance

For the year ended 30 June 2008

  2005/06
Actual
$000 		2006/07
Budget1
$000 		2006/07 
Estimated Actual 
$000 		2007/08
Budget
$000

Revenue

        
Crown 24,519 33,516 27,842 26,543
Department 298 348 386 395
Other 33,825 36,233 37,594 42,086
Total operating revenue 58,642 70,097 65,822 69,024
         

Expenses

        
Output expenses:        
Personnel 26,239 28,133 28,667 29,428
Operating 26,469 40,638 41,998 33,710
Depreciation 1,257 2,192 1,654 1,815
Amortisation and impairment on intangible assets - - - 1,597
Capital charge 332 880 830 1,032
Fixed asset write-offs 142 - - -
Total operating expenses 54,439 71,843 73,149 67,582
Net surplus/(deficit) 4,203 (1,746) (7,327) 1,442

Statement of Prospective Financial Position

As at 30 June 2008

  2005/06
Actual
$000		 2006/07
Budget2
$000		 2006/07
Estimated
Actual
$000		 2007/08
Budget
$000

Assets

        
Current assets        
Cash and bank balances 1,138 4,273 750 682
Receivables and advances 14,914 13,025 8,100 12,030
Debtor Crown 1,309 - - -
Total current assets 17,361 17,298 8,850 12,712
Non-current assets        
Fixed assets 8,233 12,131 12,839 11,268
Intangible assets - - - 1,831
Total non-current assets 8,233 12,131 12,839 13,099
Total assets 25,594 29,429 21,689 25,811
         

Liabilities

        
Current liabilities        
Payables and provisions 6,943 10,827 9,375 6,401
Provision for payment of surplus 7,012 1,520 64 3,458
Employee entitlements 944 828 983 1,040
Deferred revenue - 900 1,000 1,000
Total current liabilities 14,899 14,075 11,422 11,899
Non-current liabilities        
Employee entitlements 305 350 683 683
Total liabilities 15,204 14,425 12,105 12,582
         

Taxpayers' funds

        
General funds 10,390 15,004 9,584 13,229
Total taxpayers' funds 10,390 15,004 9,584 13,229
         
Total net assets 10,390 15,004 9,584 13,229

The 2006/07 budgeted and estimated actual financial statements have been prepared under NZ GAAP and the 2007/08 prospective financial statements have bee prepared under NZ IFRS.  There are no significant differences arising on transition from NZ GAAP to NZ IFRS.

 1 This Column incorporates both Main Estimates and Supplementary Estimates appropriations for 2006/07.

 2 This column incorporates both Main Estimates and Supplementary Estimates appropriations for 2006/07.