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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 Cash Flows

For the year ended 30 June 2008

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

Cash flows from operating activities

       
Cash provided from:        
Supply of outputs to:        

Crown

24,596 33,516 29,151 26,543

Department

196 1,248 389 395

Interest

13,954 13,802 16,877 18,000

Other

13,207 23,331 28,528 20,086
Cash disbursed to:        

Cost of producing outputs

(53,227) (71,011) (66,202) (66,126)

Capital charge

(332) (880) (830) (1,032)
Net cash flows from operating activities (1,606) 6 7,913 (2,134)
         

Cash flows from investing activities

       
Cash provided from:        

Sale of physical assets

16 - - -
Cash disbursed to:        

Purchase of physical assets

(4,989) (4,673) (7,863) (3,871)
Net cash flows from investing activities (4,973) (4,673) (7,863) (3,871)
         

Cash flows from financing activities

       
Cash provided from:        

Capital contributions from the Crown

7,738 7,132 6,446 6,001
Cash disbursed to:        

Payment of surplus to the Crown

(188) (2,967) (7,012) (64)
Net cash flows from financing activities 7,550 4,165 (566) 5,937
         
Net increase/(decrease) in cash held 971 (502) (516) (68)
Opening total cash balances at 1 July 167 4,413 1,138 750
Transfer of cash balances from Ministry of Economic Development - 362 128 -
Closing total cash balances at 30 June 1,138 4,273 750 682

The 2006/07 budgeted and estimated actual financial statements have been prepared under NZ GAAP and the 2007/08 prospective financial statements have been 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.