Statement of comprehensive income

for the year ended 30 June 2014

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Actual
2012/13
$000

 

Note

Actual
2013/14
$000

Main Estimates
2013/14
$000

Supplementary Estimates
2013/14
$000

Forecast*
2014/15
$000

 

Income

         

30,315

Revenue Crown

2

33,371

32,708

33,694

32,473

291

Other revenue

3

279

230

361

230

30,606

Total operating income

 

33,650

32,938

34,055

32,703

 

Expenditure

         

15,504

Personnel expenses

4

16,447

17,589

17,800

17,720

10,385

Other operating expenses

5

12,929

10,940

11,724

10,759

3,427

Contractual payments to Crown entities

6

3,427

3,427

3,698

3,427

233

Capital charge

7

217

250

220

220

466

Depreciation - property, plant and equipment

10

410

507

404

368

247

Amortisation - intangible assets

11

216

225

209

209

24

Finance cost

14

4

-

-

-

30,286

Total expenditure

 

33,650

32,938

34,055

32,703

320

Net surplus

 

-

-

-

-

320

Total comprehensive income

 

-

-

-

-

Explanations of significant variances against budget are detailed in note 21.

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Statement of movements in equity

for the year ended 30 June 2014

Actual
2012/13
$000

 

Actual
2013/14
$000

Main Estimates
2013/14
$000

Supplementary Estimates
2013/14
$000

Forecast*
2014/15
$000

3,116

Balance at 1 July

2,708

2,708

2,708

2,708

320

Total comprehensive income

-

-

-

-

(320)

Provision to repay surplus to Crown

-

-

-

-

(408)

Capital withdrawal

-

-

-

-

2,708

Balance at 30 June

2,708

2,708

2,708

2,708

*The statement of accounting policies provides explanations of these forecast figures which are not subject to audit.

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Statement of financial position

as at 30 June 2014

Actual
2012/13
$000

 

Note

Actual
2013/14
$000

Main Estimates
2013/14
$000

Supplementary Estimates
2013/14
$000

Forecast*
2014/15
$000

 

Equity

         

1,947

Taxpayers funds

 

1,947

1,947

1,947

1,947

761

Revaluation reserve – Aerodrome

 

761

761

761

761

2,708

Total equity

8

2,708

2,708

2,708

2,708

 

Represented by:

Current assets

         

5,200

Cash and cash equivalents

 

3,365

4,721

5,096

5,323

128

Debtors, prepayments and other receivables

9

3,068

56

15

15

5,328

Total current assets

 

6,433

4,777

5,111

5,338

 

Non-current assets

         

2,469

Property, plant and equipment

10

2,171

2,114

2,165

1,937

234

Intangible assets

11

117

648

480

481

45

Work in progress

11

12

-

-

-

2,748

Total non-current assets

 

2,300

2,762

2,645

2,418

8,076

Total assets

 

8,733

7,539

7,756

7,756

 

Current liabilities

         

1,707

Creditors and other payables

12

2,655

1,186

1,583

1,528

1,508

Employee entitlements

13

1,734

1,967

1,632

1,687

320

Provision to repay surplus

 

-

-

-

-

3,535

Total current liabilities

 

4,389

3,153

3,215

3,215

 

Non-current liabilities

         

1,149

Employee entitlements

13

948

978

1,149

1,149

684

Provision for lease make-good

14

688

700

684

684

1,833

Total non-current liabilities

 

1,636

1,678

1,833

1,833

5,368

Total liabilities

 

6,025

4,831

5,048

5,048

2,708

Net assets

 

2,708

2,708

2,708

2,708

*The statement of accounting policies provides explanations of these forecast figures which are not subject to audit.

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Statement of cash flows

for the year ended 30 June 2014

Actual
2012/13
$000

 

Note

Actual
2013/14
$000

Main Estimates
2013/14
$000

Supplementary Estimates
2013/14
$000

Forecast*
2014/15
$000

 

Cash flows from operating activities

         

32,975

Crown revenue

 

30,324

32,708

33,694

32,473

45

Crown entities

 

90

-

77

-

314

Other revenue

 

200

230

284

230

(15,463)

Personnel costs

 

(16,533)

(17,475)

(17,800)

(17,720)

(12,481)

Operating expenses

 

(12,148)

(10,940)

(11,724)

(10,759)

(3,427)

Contractual payments to Crown entities

 

(3,427)

(3,541)

(3,698)

(3,427)

(143)

Net GST paid

 

375

-

113

-

(233)

Capital charge

 

(217)

(250)

(220)

(220)

1,587

Net cash flows from operating activities

15

(1,336)

732

726

577

 

Cash flows from investing activities

         

83

Disposal of property, plant and equipment

 

1

-

-

-

(145)

Purchase of property, plant and equipment

 

(114)

(100)

(100)

(140)

(144)

Purchase of intangible assets

 

(66)

(410)

(410)

(210)

(206)

Net cash flows from investing activities

 

(179)

(510)

(510)

(350)

 

Cash flows from financing activities

         

-

Repayment of surplus

 

(320)

-

(320)

-

(408)

Capital withdrawal by the Crown

8

-

-

-

-

(408)

Net cash flows from financing activities

 

(320)

-

(320)

-

973

Net increase in cash held

 

(1,835)

222

(104)

227

4,227

Cash at 1 July

 

5,200

4,499

5,200

5,096

5,200

Total cash at 30 June

 

3,365

4,721

5,096

5,323

*The statement of accounting policies provides explanations of these forecast figures which are not subject to audit.

The net GST paid component of operating activities reflects the net GST paid to and received from the Inland Revenue Department. This component has been 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.

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Statement of commitments

as at 30 June 2014

Non-cancellable operating lease commitments

The Ministry leases property in the normal course of business. This lease is for premises in Wellington, which has a non-cancellable leasing period up to 28 February 2018, with a three year right of renewal. Rent is subject to review at 1 March 2015, and at 1 March 2018 if the right of renewal is exercised.

Actual
2012/13
$000

 

Actual
2013/14
$000

 

Non-cancellable operating lease commitments

 

1,496

Not later than 1 year

1,422

5,216

Later than 1 year and not later than 5 years

3,794

-

Later than 5 years

-

6,712

Total non-cancellable lease commitments

5,216

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 reduction in commitments is because the accommodation lease is one year closer to expiry.

Capital commitments

The Ministry has no capital commitments as at 30 June 2014 (2012/13: $nil).

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Statement of contingent liabilities and contingent assets

as at 30 June 2014

The Ministry has no quantifiable contingent liabilities or contingent assets as at 30 June 2014 (2012/13: $nil).

Statement of departmental expenses and capital expenditure against appropriations

for the year ended 30 June 2014

Actual Expenditure
2012/13
$000

 

Actual Expenditure
2013/14
$000

Supplementary Estimates
2013/14
$000

Voted Appropriation
2013/14
$000

Forecast*
2014/15
$000

 

VoteTransport

       
 

Appropriations for output expenses

       

28,471

Policy advice and related outputs multi class output appropriation

31,861

31,941

31,941

-

-

Policy advice and related outputs multi category appropriation

-

-

-

30,843

1,135

Search and rescue activity co-ordination PLA

1,087

1,136

1,136

1,201

429

Fuel excise duty refund administration

429

700

700

429

251

Milford Sound/Piopiotahi Aerodrome operation and administration

273

278

278

230

30,286

Total appropriation for output expenses

33,650

34,055

34,055

32,703

 

Appropriation for capital expenditure

       

289

Ministry of Transport - capital expenditure PLA

180

510

510

350

*The statement of accounting policies provides explanations of these forecast figures which are not subject to audit. The Voted Appropriation column includes all adjustments made in the 2013/14 Supplementary Estimates.

Statement of departmental unappropriated expenditure against appropriations

for the year ended 30 June 2014

The Ministry has no expenditure to report in any of the following categories (2012/13: $nil):

  • expenses and capital expenditure incurred in excess of appropriation
  • expenses and capital expenditure incurred without appropriation or other authority, or outside scope of appropriation
  • breaches of projected departmental net asset schedules.

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