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STATEMENT OF COMPREHENSIVE REVENUE AND EXPENSE

for the year ended 30 June 2016

Actual 2014/15 $000   Note Actual 2015/16 $000 Unaudited Main Estimates 2015/16
$000
Unaudited Supplementary Estimates 2015/16
$000
Unaudited forecast* 2016/17
$000
  Revenue          
31,273 Revenue Crown 2 32,223 32,473 32,808  32,765
429 Other revenue 3 660 320 662 345
31,702 Total revenue   32,883 32,793 33,470 33,110
  Expenses          
16,464 Personal expenses 4 16,682 17,320 16,720 16,920
10,793 Other operating expenses 5 11,719 11,176  11,690 12,213
3,559 Contractual payments to Crown entities 6 3,658 3,517 3,658 3,916
217 Capital charge 7 225 220  220 220
519 Depreciation - property, plant and equipment 10 539 351  517 156
74 Amortisation - intangible assets 11 60  209  (85) 60
56 Finance cost 14 - - -
- Release of provisions 15 (375) 375 -
31,682 Total expenses   32,508 32,793  33,095  33,485
20 Net surplus    375 - 375 (375)
  Other comprehensive revenue and expenditure          
102  Gain on revaluation 10  505 - -
 -  Loss on disposal 10  (505) - -
122  Total comprehensive revenue and expense   375 375 (375)

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

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STATEMENT OF MOVEMENTS IN EQUITY

for the year ended 30 June 2016

Actual 2014/15
$000
  Note Actual 2015/16
$000
Unaudited Main Estimates 2015/16
$000
Unaudited Supplementary Estimates 2015/16
$000
Unaudited forecast* 2016/17
$000
2,708 Balance at 1 July   2,810 2,810 2,810 3,185
122 Total comprehensive income   375 - 375 (375)
- Gain on revaluation   505 - 505 -
- Loss on disposal   (505) - (505) -
  Owner transactions          
(20) Provision to repay surplus   - - - -
2,810 Balance at 30 June 8 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.

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STATEMENT OF FINANCIAL POSITION

as at 30 June 2016

Actual 2014/15 $000   Note  Actual 2015/16 $000  Unaudited Main Estimates 2015/16 $000 Unaudited Supplementary
Estimates 2015/16
$000 
Unaudited forecast* 2016/17
$000 
  Equity          
1,947 Taxpayers funds   2,322 1,947  2,322  1,947 
863 Revaluation reserve - Aerodrome & land   863  863  863 863 
2,810 Total equity 8 3,185  2,810  3,185  2,810 
  Represented by:          
  Current assets          
2,763 Cash and cash equivalents 19 2,951  3,341  2,839  1,736 
3,454 Debtors, prepayments and other receivables under exchange transactions 9 3,962  2,950  3,453  3,453 
6,217 Total current assess   6,913  6,291  6,292 5,189 
  Non-current assets          
1,836 Property, plant and equipment 10  1,427  1,794  1,879 1,883 
104 Intangible assets 11  35  485  279  459 
1,940 Total non-current assets   1,462  2,279  2,158  2,342 
8,157 Total assets   8,375  8,570  8,450  7,531 
  Current liabilities          
1,996 Creditors and other other payables under exchange transactions 12 2,294  2,889  2,058  2,026 
1,510 Employee entitlements 13  1,194  1,235  1,386  1,618
- Provision for lease make-good 14  500 
20 Provision to repay surplus   -
3,526 Total current liabilities    3,988  4,124  3,444  3,644  
  Non-current liabilities          
1,077 Employee entitlements  13 1,202  948  1,077  1,077 
744 Provision for lease make-good  14  688  744 
1,821 Total non-current liabilities    1,202  1,636  1,821  1,077 
5,347 Total liabilities   5,190  5,760  5,265  4,721 
2,810 Net 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.

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STATEMENT OF CASH FLOWS

for the year ended 30 June 2016

Actual 2014/15
$000
   Note Actual 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           
30,931 Crown revenue   31,749 32,473  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  16 347  560  747  (304) 
  Cash flows from investing activities          
(84) Purchase of property, plant and equipment   (130)  (140) (560) (660)
(49) Purchase 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) 
3,365 Cash at 1 July    2,763  3,131  2,763  2,763 
2,763 Total cash at 30 June   2,951 3,341 2,839 1,736

 *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.

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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  
1,417 No later than 1 year 381
2,364 Later than 1 year and not later than 5 years -
- Later than 5 years -
3,781 Total non-canellable operating lease commitments 381

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).

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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.

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