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Statement of Objectives – Financial performance for the year ended 30 June 2010

Actual 2008/09  Unit/%Actual 2009/10 Main Estimates 2009/10 Supplementary Estimates 2009/10 
  Operating results         
2,465  Other revenue  $000  810  488  838 
57,579  Output expenses  $000  49,712  52,289  53,302 
486  Operating surplus before capital charge  $000  223  258  223 
Net surplus  $000 
  Working capital         
(47)  Net current assets  $000  111  (951)  52 
99  Current ratio  102  79  102 
  Resource utilisation         
4,053  Property, plant and equipment and intangibles at year end  $000  4,015  5,031  3,928 
30  Additions as a percentage of property, plant and equipment and intangible assets at year end  13  16  17
56 Property, plant and equipment and intangibles as a percentage of total assets at year end  % 42 58 55
2,984  Taxpayers' funds at year end  $000   3,116  2,984  2,958
  Net cash flows         
(508)  Surplus/ (deficit) from operating activities  $000   2,441  843  3,362
2,354  Surplus/ (deficit) from investing activities  $000    (605)  (800)  (669)
(10,649)  (Deficit) from financing activities  $000   (26)  -  (26)
(8,803)  Net increase/ (decrease) in cash held  $000    1,810  43  2,667

 

Statement of Comprehensive Income for the year ended 30 June 2010 

 

Actual 2008/09 $000 Notes Actual 2009/10 
$000
Main Estimates 2008/09
$000 
Supplementary Estimates 2008/09
$000 
  Income         
31,937  Revenue Crown  30,129  33,028  33,691 
18,996  Revenue from fees  18,773  18,773  18,773 
2,465  Other revenue  810  488  838 
4,181  Revenue from the National Land Transport Fund 
57,579  Total operating income    49,712  52,289  53,302 
  Expenditure         
26,058  Contractual payments to Crown entities  20,837  20,864  20,864 
18,409  Personnel expenses  17,408  17,493  18,024 
11,736  Other operating expenses  10,422  12,831  13,397 
486  Capital charge  223  258  223 
543  Depreciation of property, plant and equipment  12  505  545  506 
347  Amortisation of intangible assets  13  297  298  288 
Finance costs  14  20 
57,579  Total expenditure    49,712  52,289  53,302 
Net surplus/ (deficit)   
Gain on revaluation of Milford aerodrome  12  158 
Total comprehensive income    158 

 

 

Explanation of significant variances against budget is detailed in note 24.

Statement of Movements in Taxpayer’s Funds for the year ended 30 June 2010

 

Actual 2008/09 $000  Notes Actual 2009/10 $000 Main Estimates 2009/10 $000  Supplementary Estimates 2009/10
$000
9,974  Balance at 1 July    2,984  2,984  2,984 
Total comprehensive income    158 
(6,990)  Capital withdrawal  10  (26)  (26) 
2,984  Balance at 30 June  10  3,116  2,984  2,958 

Statement of Financial Position as at 30 June 2010

 

Actual 2008/09 $000 Notes Actual 2009/10 $000  Main Estimates 2009/10 $000  Supplementary Estimates 2009/10
$000 
  Taxpayers' funds         
2,381  General funds    2,355  2,381  2,355 
603  Revaluation reserve - aerodrome    761  603  603 
2,984  Total taxpayers' funds  10  3,116  2,984  2,958 
  Represented by:         
  Current assets         
345  Cash and cash equivalents    2,155  3,235  3,011 
2,830  Debtors and other receivables  11  3,454  380  263 
3,175  Total current assets    5,609  3,615  3,274 
  Non-current assets         
3,349  Property, plant and equipment  12  3,387  3,961  3,268 
704  Intangible assets  13  540  1,070  660 
Work in progress    88 
4,053  Total non-current assets    4,015  5,031  3,928 
7,228  Total assets    9,624  8,646  7,202 
  Current liabilities         
2,269  Creditors and other payables  15  4,342  3,702  2,269 
953  Employee entitlements  16  1,156  864  953 
3,222  Total current liabilities    5,498  4,566  3,222 
  Non-current liabilities         
470  Employee entitlements  16  438  544  470 
552  Provision for lease make-good  17  572  552  552 
1,022  Total non-current liabilities    1,010  1,096  1,022 
4,244  Total liabilities    6,508  5,662  4,244 
2,984  Net assets    3,116  2,984  2,958 

Statement of Cash Flows for the year ended 30 June 2010

 

Actual 2008/09 $000  Notes Actual 2009/10 $000 Main Estimates 2009/10 $000  Supplementary Estimates 2009/10
$000 
  Cash flows from operating activities        
48,366   Crown   48,263  51,801  55,031 
477  Departments   575  288  588 
4,062  Crown entities   88 
4,181  National Land Transport Fund  
167  Other   146  200  250 
(18,410)  Personnel costs   (17,390)  (17,493)  (18,024) 
(12,672)  Operating expenses   (8,331)  (12,831)  (13,396) 
(26,058)  Contractual payments to Crown entities   (21,159)  (20,864)  (20,864) 
(135)  Net GST paid   472 
(486)  Capital charge   (223)  (258)  (223) 
(508)  Net cash flows from operating activities 18  2,441  843  3,362 
  Cash flows from operating activities        
17  Receipts from the sale of property, plant and equipment  
3,019  Receipts from the sale of intangible assets  
 (480) Purchase of property, plant and equipment   (384)  (500)  (425) 
(202)  Purchase of intangible assets   (221)  (300)  (244) 
2,354  Net cash flows from investing activities   (605)  (800)  (669) 
  Cash flows from financing activities   -    
(6,990)  Capital withdrawal by the Crown 10   (26) (26) 
(3,659) Repayment of surplus to the Crown   - - -
(10,649)  Net cash flows from financing activities    (26)  -  (26)
(8,803) Net increase/ (decrease) in cash held    1,810 43   2,667
9,148  Cash at beginning of year    345 3,192   345
345  Total cash at beginning of year    2,155 3,235   3,012

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. 

Statement of Commitments as at 30 June 2010

Non-cancellable operating lease commitments

The Ministry leases property in the normal course of business. The majority of these leases are for premises, which have non-cancellable leasing periods ranging from one to six years.

 

Actual 2008/09 
$000
 Actual 2009/10
$000 
  Non-cancellable operating lease commitments   
1,309  Not later than one year 1,299 
4,992  Later than one year and not later than five years 4,837 
4,200  Later than five years 3,056 
10,501  Total non-cancellable lease commitments 9,192 

The Ministry’s non-cancellable operating leases have varying terms, escalation clauses and renewal rights. There are no restrictions placed on the Ministry by any of its leasing arrangements. Some accommodation leases are cancellable, subject to penalty. The amount disclosed is based on the current rental rates. The total operating lease cost is expensed on a straight line basis over the life of the lease.
 

A review of the rent on the Wellington premises fell due on 1 March 2009. Negotiations were still in progress as at 30 June 2010. The anticipated increase is not reflected in the above operating lease commitments as the rent has still not been agreed. However additional amounts have been accrued in the financial statements for the possible increase.

Capital commitments

There were no capital commitments as at 30 June 2010 (2009: $nil).

Statement of Contingent Liabilities and Contingent Assets as at 30 June 2010

Quantifiable contingent liabilities

Actual 2008/09
$000
 Actual 2009/10
$000 
30  Personal grievances 
30   

Personal grievances

A former staff member has taken a grievance claim. A determination has been made in favour of the Ministry by the Employment Relation Authority. Ratification of the final settlement is pending the Mediation Service’s confirmation (this is the same case as disclosed in 2008/09).

Contingent assets

The Ministry has no contingent assets (2009: $nil).

Statement of Departmental Expense and Capital Expenditure against Appropriations for the year ended 30 June 2010

 

Actual expenditure 2008/09
$000 
 Actual expenditure 2009/10
$000 
Voted Appropriation 2009/10
$000 
  Vote Transport     
  Appropriations for classes of outputs    
28,078  Policy advice 27,769  31,079
17,688  Road user charges collection, investigation and enforcement 17,344   17,344
3,517  Sector leadership and support 2,315   2,500
1,911  Land transport revenue forecasting and strategy 1,615  1,700
392  Refund of fuel excise duty 429 429 
157  Airport operation and administration  240 250 
5,197  Motor vehicle registry and revenue management  -
238  Distress radio beacons national education campaign  -
401  Next steps review implementation  -
57,579  Total appropriation for output expenses 49,712 53,302 
  Appropriation for capital expenditure    
682  Ministry of Transport - Permanent Legislative Authority  605 669 

The Voted Appropriation column includes all adjustments made in the 2009/10 Supplementary Estimates.

Statement of Departmental Unappropriated Expenditure against Appropriations for the year ended 30 June 2010

 

Unappropriated expenditure 2008/09
$000
 Actual expenditure 2009/10
$000 
Voted Appropriation 2009/10
$000 
Unappropriated expenditure 2009/10 $000 
  Vote Transport       
  Appropriations for classes of outputs      
Policy advice 27,769  31,079 
Road user charges collection, investigation and enforcement 17,344  17,344 
Sector leadership and support 2,315  2,500 
195  Land transport revenue forecasting and strategy 1,615  1,700 
Refund of fuel excise duty 429  429 
Airport operation and administration 240  250 
195    49,712  53,302  - 

The Ministry did not incur any unappropriated expenditure during the year. Overall, expenditure remained within the total budget. The Ministry did not incur any capital expenditure in excess of appropriation, nor breach its departmental net asset schedule during the year.

2008/09 unappropriated expenditure

Output class: Land transport revenue forecasting and strategy exceeded appropriation in 2008/09 as more time was required from Ministry staff than was budgeted for on the road user charges review. This could not be avoided or delayed to 2009/10 as the results of the review were subject to public scrutiny and had to be followed up. The expenditure was not outside the scope of the appropriation.

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