Formats and related files
APPROPRIATION MINISTER(S): Minister of Finance (M31), Minister for State Owned Enterprises (M65), Minister of Science and Innovation (M84)
APPROPRIATION ADMINISTRATOR: The Treasury
RESPONSIBLE MINISTER FOR THE TREASURY: Minister of Finance
Supplementary Estimates of Appropriations#
Details of Appropriations#
Annual and Permanent Appropriations
| 2013/14 | |||
|---|---|---|---|
| Titles and Scopes of Appropriations by Appropriation Type | Estimates Budget $000 |
Supplementary Estimates Budget $000 |
Total Budget $000 |
Departmental Output Expenses |
|||
Administration of Crown Borrowing PLA (M31)This appropriation is limited to expenses incurred in connection with administering borrowing by the Crown, as authorised by section 61(1) of the Public Finance Act 1989. |
5,512 | (91) | 5,421 |
Administration of Derivative Transactions PLA (M31)This appropriation is limited to expenses incurred in connection with administering derivative transactions of the Crown, as authorised by section 65H(2) of the Public Finance Act 1989. |
1,127 | (144) | 983 |
Administration of Guarantees and Indemnities given by the Crown PLA (M31)This appropriation is limited to expenses incurred in connection with administering of guarantees and indemnities given by the Crown, as authorised by section 65ZG of the Public Finance Act 1989. |
110 | 308 | 418 |
Administration of Investment of Public Money PLA (M31)This appropriation is limited to expenses incurred in connection with administering the investment of public money, as authorised by section 65J(1) of the Public Finance Act 1989. |
772 | (60) | 712 |
Crown Company Monitoring Advice to the Minister for State-Owned Enterprises and Other Responsible Ministers (M65)This appropriation is limited to the provision of ownership, performance monitoring and governance advice to the Minister for State Owned Enterprises and other responsible Ministers in respect of the Ministers' shareholding responsibilities or as responsible Ministers for the New Zealand Lotteries Commission and Public Trust. |
4,042 | 1,464 | 5,506 |
Crown Company Monitoring Advice to the Minister of Science and Innovation and the Minister for Economic Development (M84)This appropriation is limited to the provision of ownership, performance monitoring, and governance advice to the Minister of Science and Innovation and other responsible Ministers in respect of the Ministers' shareholding responsibilities. |
436 | 47 | 483 |
Policy Advice - Finance (M31)This appropriation is limited to the provision of advice (including second opinion advice and contributions to policy advice led by other agencies) to support decision-making by Ministers on government policy matters relating to Finance. |
34,933 | (35) | 34,898 |
Provision of Financial Operations Services and Operational Advice (M31)This appropriation is limited to the provision of services which support the performance of the State sector, including fiscal reporting, forecasting and monitoring; provision of Export Credit; and the management, administration and monitoring of Crown Guarantee Schemes, Crown Lending, Crown Investments and Crown Bank Accounts. |
23,249 | 9,937 | 33,186 |
Provision of Financial Services to the New Zealand Local Government Funding Agency RDA (M31)This appropriation is limited to expenses incurred in connection with the provision of financial services on a commercial basis to the New Zealand Local Government Funding Agency (LGFA). |
165 | - | 165 |
Shared Support Services (M31)This appropriation is limited to provision of support services to other agencies. |
8,000 | 1,654 | 9,654 |
Total Departmental Output Expenses |
78,346 | 13,080 | 91,426 |
Departmental Capital Expenditure |
|||
The Treasury - Capital Expenditure PLA (M31)This appropriation is limited to the purchase or development of assets by and for the use of the Treasury, as authorised by section 24(1) of the Public Finance Act 1989. |
3,788 | 2,333 | 6,121 |
Total Departmental Capital Expenditure |
3,788 | 2,333 | 6,121 |
Non-Departmental Output Expenses |
|||
Inquiries and Research into Productivity Related Matters MCOA (M31) |
5,030 | - | 5,030 |
Inquiries into Productivity - Related MattersThis output class is limited to inquiries undertaken by the New Zealand Productivity Commission in accordance with the New Zealand Productivity Commission Act 2010. |
4,527 | - | 4,527 |
Research into and Promotion of Productivity - Related MattersThis output class is limited to the New Zealand Productivity Commission undertaking research into and promoting public understanding of productivity related matters in accordance with the New Zealand Productivity Commission Act 2010. |
503 | - | 503 |
Management of New Zealand House, London (M31)This appropriation is limited to the property management services in respect of New Zealand House, London. |
1,000 | - | 1,000 |
Management of the Crown's Obligations for Geothermal Wells (M31)This appropriation is limited to the management and maintenance relating to geothermal wells and associated sites and structures for which the Crown accepts responsibility. |
151 | 144 | 295 |
Management of the New Zealand Superannuation Fund (M31)This appropriation is limited to managing the New Zealand Superannuation Fund on behalf of the Crown. |
528 | - | 528 |
Total Non-Departmental Output Expenses |
6,709 | 144 | 6,853 |
Non-Departmental Borrowing Expenses |
|||
Debt Servicing PLA (M31)This appropriation is limited to the payment of borrowing expenses for the Crown's New Zealand-dollar and foreign-currency debt, authorised by section 60(1)b of the Public Finance Act 1989. |
3,492,841 | 62,072 | 3,554,913 |
Total Non-Departmental Borrowing Expenses |
3,492,841 | 62,072 | 3,554,913 |
Non-Departmental Other Expenses |
|||
Crown Residual Liabilities (M31)Residual obligations arising from administration of the Crown's sale and purchase agreements with SOEs and Crown entities and from the sale of Crown investments, and for the settlement of claims against the Crown arising from exposure to asbestos. |
230 | 225 | 455 |
Geothermal Wells Fund (M31)This appropriation is limited to meeting the costs of one-off unforeseen events relating to those geothermal wells for which the Crown accepts responsibility. |
500 | - | 500 |
Government Superannuation Appeals Board (M31)This appropriation is limited to the expenses of the Government Superannuation Appeals Board in performing its functions under the Government Superannuation Fund Act 1956. |
50 | - | 50 |
Government Superannuation Fund Authority - Crown's Share of Expenses PLA (M31)This appropriation is limited to the Crown's share of the expenses of the Government Superannuation Fund Authority relating to the management and administration of the Government Superannuation Fund and the schemes, authorised by sections 15E and 95 of the Government Superannuation Act 1956. |
24,599 | 3,257 | 27,856 |
Government Superannuation Fund Unfunded Liability PLA (M31)This appropriation is limited to the net increase (excluding actuarial gains and losses) in the Crown's liability to the Government Superannuation Fund and the specified superannuation contribution withholding tax on employer contributions by the Crown, authorised by section 95AA of the Government Superannuation Act 1956. |
635,803 | (16,629) | 619,174 |
Impairment of Learning Media Funding Facility (M31)This appropriation is limited to impairment of a funding arrangement in Learning Media. |
- | 7,700 | 7,700 |
Impairment of Loans to Taitokerau Forest Limited (M31)This appropriation is limited to the expense incurred on the impairment of new loans to Taitokerau Forests Limited. |
800 | (600) | 200 |
Landcorp Protected Land Agreement - Operating (M31)This appropriation is limited to providing for operating costs incurred under the Landcorp Protected Land Agreement. |
2,000 | 2,857 | 4,857 |
National Provident Fund Schemes - Liability Under Crown Guarantee PLA (M31)This appropriation is limited to the net increase (excluding actuarial gains and losses) in the Crown's liability for benefits payable to members of National Provident Fund schemes under the Crown guarantee in section 60 of the National Provident Fund Restructuring Act 1990. This appropriation is authorised by section 66 of the National Provident Fund Restructuring Act 1990. |
26,000 | - | 26,000 |
New Zealand Aluminium Smelters - Electricity Agreement Incentive Payment (M31)This appropriation is limited to the provision of an incentive payment to New Zealand Aluminium Smelters on the execution of a revised electricity agreement with Meridian Energy Limited |
- | 30,000 | 30,000 |
New Zealand House - Renegotiation of Lease Arrangements (M31)This appropriation is limited to activities to re-gear the lease on New Zealand House in London (including The Royal Opera Arcade and Her Majesty's Theatre). |
- | 200 | 200 |
New Zealand House, London (M31)This appropriation is limited to the operational costs of New Zealand House, London. |
13,000 | (200) | 12,800 |
Payment in respect of Export Credit Office Guarantees and Indemnities PLA (M31)This appropriation is limited to payments by the Crown under export credit guarantees or indemnities given under Section 65ZD of the Public Finance Act 1989, as authorised by section 65ZG of that Act. |
- | 527 | 527 |
Payments in respect of Guarantees and Indemnities PLA (M31)This appropriation is limited to payments by the Crown under a guarantee or indemnity given under section 65ZD of the Public Finance Act 1989, as authorised by section 65ZG of that Act. |
- | 83 | 83 |
Solid Energy New Zealand Limited - Redeemable Preference Shares Impairment (M31)This appropriation is limited to the impairment of investment in the redeemable preference shares in Solid Energy New Zealand Limited. |
- | 25,000 | 25,000 |
Taitokerau Forests Limited Grant (M31)This appropriation is limited to grants to Taitokerau Forests Limited for on-payment to forest owners, payable upon harvest of the forests. |
200 | 44 | 244 |
Unclaimed Money PLA (M31)This appropriation is limited to the repayment of money authorised by section 74(5) of the Public Finance Act 1989. |
250 | - | 250 |
Unclaimed Trust Money PLA (M31)This appropriation is limited to the repayment of money authorised by section 70(2) of the Public Finance Act 1989. |
250 | - | 250 |
Unwind of Discount Rate used in the Present Value Calculation of Payment under Crown Deed of Support with AMI (M31)This appropriation is limited to the expense incurred in unwinding the discount rate used in the present value calculation of the liability as the liability nears settlement. |
10,218 | 5,077 | 15,295 |
Total Non-Departmental Other Expenses |
713,900 | 57,541 | 771,441 |
Non-Departmental Capital Expenditure |
|||
Crown Asset Management Limited (CAML) Equity Injection (M31)This appropriation is limited to the capital injection for CAML to purchase and manage assets of receiverships under the Deposit Guarantee Scheme and other residual Crown assets. |
- | 10,000 | 10,000 |
International Financial Institutions PLA (M31)This appropriation is limited to capital expenditure for shares subscribed to by New Zealand as a member of International Financial Institutions, authorised by section 5 of the International Finance Agreements Act 1961. |
212,000 | - | 212,000 |
Landcorp Protected Land Agreement - Capital (M31)This appropriation is limited to providing for capital investments incurred under the Landcorp Protected Land Agreement. |
2,000 | 2,409 | 4,409 |
Learning Media Funding Facility (M31)This appropriation is limited to provision of a funding arrangement to address the liquidity of Learning Media. |
- | 7,700 | 7,700 |
New Zealand House, London, capital (M31)This appropriation is limited to capital expenditure in relation to New Zealand House, London. |
750 | - | 750 |
Solid Energy New Zealand Limited - Loan Facilities (M31)This appropriation is limited to the provision of a loan facility and a stand-by facility to Solid Energy New Zealand Limited. |
- | 130,000 | 130,000 |
Solid Energy New Zealand Limited - Redeemable Preference Shares (M31)This appropriation is limited to the subscription of redeemable preference shares in Solid Energy New Zealand Limited by the Crown. |
- | 25,000 | 25,000 |
Taitokerau Forests (M31)This appropriation is limited to the provision of loans to Taitokerau Forests Ltd for forest management and development. |
800 | 900 | 1,700 |
Total Non-Departmental Capital Expenditure |
215,550 | 176,009 | 391,559 |
Total Annual and Permanent Appropriations |
4,511,134 | 311,179 | 4,822,313 |
Multi-Year Appropriations
| Type, Title, Scope and Period of Appropriations | Appropriation, Adjustments and Use | $000 |
|---|---|---|
Departmental Output Expenses |
||
Implementation of Mixed Ownership Model (M31)This appropriation is limited to the policy, operational, and transactional work to implement the Mixed Ownership Model. Commences: 15 December 2011 Expires: 30 June 2015 |
Original Appropriation | 46,802 |
| Adjustments for 2012/13 | - | |
| Adjustments to 2013/14 | (17,485) | |
| Adjusted Appropriation | 29,317 | |
| Actual to 2012/13 Year End | 16,984 | |
| Estimated Actual for 2013/14 | 10,160 | |
| Estimated Actual for 2014/15 | - | |
| Estimated Appropriation Remaining | 2,173 | |
Non-Departmental Other Expenses |
||
Direct Sale costs for Implementing the Mixed Ownership Model (M31)This appropriation is limited to the direct sales costs of implementing the Mixed Ownership Model. Commences: 15 December 2011 Expires: 30 June 2015 |
Original Appropriation | 56,000 |
| Adjustments for 2012/13 | - | |
| Adjustments to 2013/14 | 6,485 | |
| Adjusted Appropriation | 62,485 | |
| Actual to 2012/13 Year End | 21,511 | |
| Estimated Actual for 2013/14 | 38,974 | |
| Estimated Actual for 2014/15 | - | |
| Estimated Appropriation Remaining | 2,000 | |
Loyalty Bonus Scheme Related to Initial Public Offers (M31)This appropriation is limited to expenses incurred by allocating shares under a loyalty bonus scheme to eligible investors in initial public offers. Commences: 01 March 2013 Expires: 30 June 2016 |
Original Appropriation | 40,000 |
| Adjustments for 2012/13 | - | |
| Adjustments to 2013/14 | 12,100 | |
| Adjusted Appropriation | 52,100 | |
| Actual to 2012/13 Year End | 24,677 | |
| Estimated Actual for 2013/14 | 22,000 | |
| Estimated Actual for 2014/15 | - | |
| Estimated Appropriation Remaining | 5,423 |
Details of Projected Movements in Departmental Net Assets#
The Treasury
| Details of Net Asset Schedule | 2013/14 Main Estimates Projections $000 |
2013/14 Supplementary Estimates Projections $000 |
Explanation of Projected Movements in 2013/14 |
|---|---|---|---|
| Opening Balance | 8,957 | 8,957 | Supplementary Estimates opening balance reflects the audited results as at 30 June 2013. |
| Capital Injections | 700 | 4,392 | Initial $700,000 for the Business Information Hub to support debt management functions. An additional $3.572 million provided for IT capital to implement the transfer of emergency management functions from Department of Internal Affairs to the Department of the Prime Minister and Cabinet, and $120,000 provided for leasehold improvement requirements for the Analysis for Outcomes initiative. |
| Capital Withdrawals | - | - | |
| Surplus to be Retained (Deficit Incurred) | - | (402) | Repayment of prior year surplus that was retained in 2012/13. |
| Other Movements | - | 402 | Retained surplus applied to 2013/14 expenditure. |
Closing Balance |
9,657 | 13,349 |
Supporting Information#
Part 1 - Vote as a Whole#
1.2 - Trends in the Vote
Summary of Financial Activity
| 2013/14 | |||||
|---|---|---|---|---|---|
| Supplementary Estimates | |||||
| Estimates $000 |
Departmental Transactions $000 |
Non-Departmental Transactions $000 |
Total Transactions $000 |
Total $000 |
|
Appropriations |
|||||
| Output Expenses | 100,368 | 10,100 | 144 | 10,244 | 110,612 |
| Benefits and Other Unrequited Expenses | - | N/A | - | - | - |
| Borrowing Expenses | 3,492,841 | - | 62,072 | 62,072 | 3,554,913 |
| Other Expenses | 747,750 | - | 92,088 | 92,088 | 839,838 |
| Capital Expenditure | 219,338 | 2,333 | 176,009 | 178,342 | 397,680 |
| Intelligence and Security Department Expenses and Capital Expenditure | - | - | N/A | - | - |
| Multi-Category Expenses and Capital Expenditure (MCA) | |||||
Output Expenses |
- | - | - | - | - |
Other Expenses |
- | - | - | - | - |
Capital Expenditure |
- | N/A | - | - | - |
Total Appropriations |
4,560,297 | 12,433 | 330,313 | 342,746 | 4,903,043 |
Crown Revenue and Capital Receipts |
|||||
| Tax Revenue | - | N/A | - | - | - |
| Non-Tax Revenue | 3,353,844 | N/A | (113,254) | (113,254) | 3,240,590 |
| Capital Receipts | 41,561 | N/A | (2,863) | (2,863) | 38,698 |
Total Crown Revenue and Capital Receipts |
3,395,405 | N/A | (116,117) | (116,117) | 3,279,288 |
Mapping the Layout of the 2013/14 Supplementary Estimates to the Layout of the 2013/14 Estimates
| Supplementary Estimates Structure 2013/14 | Estimates Structure 2013/14 | ||
|---|---|---|---|
| Part # | Part Name | Part # | Part Name |
| 2.1 | Departmental Output Expenses | 2.1 | Departmental Output Expenses |
| 2.2 | Departmental Other Expenses | 5.1 | Departmental Other Expenses |
| 2.3 | Departmental Capital Expenditure and Capital Injections | 6.1 | Departmental Capital Expenditure |
| 3.1 | Non-Departmental Output Expenses | 2.2 | Non-Departmental Output Expenses |
| 3.2 | Non-Departmental Benefits and Other Unrequited Expenses | 3.2 | Non-Departmental Benefits and Other Unrequited Expenses |
| 3.3 | Non-Departmental Borrowing Expenses | 4.2 | Non-Departmental Borrowing Expenses |
| 3.4 | Non-Departmental Other Expenses | 5.2 | Non-Departmental Other Expenses |
| 3.5 | Non-Departmental Capital Expenditure | 6.2 | Non-Departmental Capital Expenditure |
| 4 | Multi-Category Expenses and Capital Expenditure | N/A | Did not exist in the Estimates |
Part 2 - Details of Departmental Appropriations#
2.1 - Departmental Output Expenses
Administration of Crown Borrowing PLA (M31)
Scope of Appropriation
This appropriation is limited to expenses incurred in connection with administering borrowing by the Crown, as authorised by section 61(1) of the Public Finance Act 1989.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 5,512 | (91) | 5,421 |
| Revenue from the Crown | 5,511 | (91) | 5,420 |
| Revenue from Others | 1 | - | 1 |
Reasons for Change in Appropriation
The decrease in appropriation reflects a change in the timing of expenditure to implement the Business Information Hub, which is a new system to support financing functions.
Administration of Derivative Transactions PLA (M31)
Scope of Appropriation
This appropriation is limited to expenses incurred in connection with administering derivative transactions of the Crown, as authorised by section 65H(2) of the Public Finance Act 1989.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 1,127 | (144) | 983 |
| Revenue from the Crown | 1,125 | (144) | 981 |
| Revenue from Others | 2 | - | 2 |
Reasons for Change in Appropriation
The decrease in appropriation reflects a change in the timing of expenditure to implement the Business Information Hub, which is a new system to support financing functions.
Administration of Guarantees and Indemnities given by the Crown PLA (M31)
Scope of Appropriation
This appropriation is limited to expenses incurred in connection with administering of guarantees and indemnities given by the Crown, as authorised by section 65ZG of the Public Finance Act 1989.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 110 | 308 | 418 |
| Revenue from the Crown | 110 | 308 | 418 |
| Revenue from Others | - | - | - |
How Performance will be Assessed and End of Year Reporting Requirements
| 2013/14 | |||
|---|---|---|---|
| Performance Measures | Estimates Standard |
Supplementary Estimates Standard |
Total Standard |
| Meet our legal obligations under the Wholesale Guarantee Funding Facility and Retail Deposit Guarantee Scheme. | - | Achieved | Achieved |
Reasons for Change in Appropriation
The change in appropriation reflects an expected increase in litigation costs.
Administration of Investment of Public Money PLA (M31)
Scope of Appropriation
This appropriation is limited to expenses incurred in connection with administering the investment of public money, as authorised by section 65J(1) of the Public Finance Act 1989.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 772 | (60) | 712 |
| Revenue from the Crown | 772 | (60) | 712 |
| Revenue from Others | - | - | - |
Reasons for Change in Appropriation
The decrease in appropriation reflects a change in the timing of expenditure to implement the Business Information Hub, which is a new system to support financing functions.
Crown Company Monitoring Advice to the Minister for State-Owned Enterprises and Other Responsible Ministers (M65)
Scope of Appropriation
This appropriation is limited to the provision of ownership, performance monitoring and governance advice to the Minister for State Owned Enterprises and other responsible Ministers in respect of the Ministers' shareholding responsibilities or as responsible Ministers for the New Zealand Lotteries Commission and Public Trust.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 4,042 | 1,464 | 5,506 |
| Revenue from the Crown | 4,042 | 1,464 | 5,506 |
| Revenue from Others | - | - | - |
Reasons for Change in Appropriation
The increase reflects an expense transfer from 2012/13 year for strategic reviews of SOE's, an increase in resourcing to monitor SOE's and the realignment of corporate overheads.
Crown Company Monitoring Advice to the Minister of Science and Innovation and the Minister for Economic Development (M84)
Scope of Appropriation
This appropriation is limited to the provision of ownership, performance monitoring, and governance advice to the Minister of Science and Innovation and other responsible Ministers in respect of the Ministers' shareholding responsibilities.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 436 | 47 | 483 |
| Revenue from the Crown | 436 | 47 | 483 |
| Revenue from Others | - | - | - |
Reasons for Change in Appropriation
This increase reflects a realignment of corporate overheads.
Implementation of Mixed Ownership Model (M31)
Scope of Appropriation and Expenses
| Type, Title, Scope and Period of Appropriations | Appropriations, Adjustments and Use | $000 |
|---|---|---|
Implementation of Mixed Ownership Model (M31)This appropriation is limited to the policy, operational, and transactional work to implement the Mixed Ownership Model.Commences: 15 December 2011 Expires: 30 June 2015 |
Original Appropriation | 46,802 |
| Adjustments to 2012/13 | - | |
| Adjustments for 2013/14 | (17,485) | |
| Adjusted Appropriation | 29,317 | |
| Actual to 2012/13 Year End | 16,984 | |
| Estimated Actual for 2013/14 | 10,160 | |
| Estimated Actual for 2014/15 | - | |
| Estimated Appropriation Remaining | 2,173 |
Reasons for Change in Appropriation
The decrease in the appropriation relates to the transfers of $13 million to the Non-Departmental Expense: Direct Sale Costs of Implementing the Mixed Ownership Model and $4 million to the Loyalty Bonus Scheme.
Policy Advice - Finance (M31)
Scope of Appropriation
This appropriation is limited to the provision of advice (including second opinion advice and contributions to policy advice led by other agencies) to support decision-making by Ministers on government policy matters relating to Finance.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 34,933 | (35) | 34,898 |
| Revenue from the Crown | 34,921 | (55) | 34,866 |
| Revenue from Others | 12 | 20 | 32 |
Reasons for Change in Appropriation
The decrease is mainly due to the realignment of work priorities and corporate overheads of $2 million resulting in a transfer of resourcing to monitoring activities and to the provision of financial services and operational advice. This decrease was been largely offset by additional funding for social housing work of $1.900 million. Expense transfers into 2013/14 of $498,000 are also offset by savings on the costs of monitoring of Phase 2 of welfare reform of $440,000.
Provision of Financial Operations Services and Operational Advice (M31)
Scope of Appropriation
This appropriation is limited to the provision of services which support the performance of the State sector, including fiscal reporting, forecasting and monitoring; provision of Export Credit; and the management, administration and monitoring of Crown Guarantee Schemes, Crown Lending, Crown Investments and Crown Bank Accounts.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 23,249 | 9,937 | 33,186 |
| Revenue from the Crown | 23,248 | 6,524 | 29,772 |
| Revenue from Others | 1 | 3,011 | 3,012 |
How Performance will be Assessed and End of Year Reporting Requirements
| 2013/14 | |||
|---|---|---|---|
| Performance Measures | Estimates Standard |
Supplementary Estimates Standard |
Total Standard |
Expiring measure |
|||
| Improvement in Better Administrative and Support Services effectiveness and efficiency indicators. | Achieved | Expired measure | Expired measure |
Replacement measure |
|||
| Improvement in Benchmarking Administrative and Support Services effectiveness and efficiency indicators. | N/A | Achieved | Achieved |
New measures |
|||
Gateway Review Unit |
|||
| Provide advice to Ministers on the risk status of major monitored projects and options for mitigation of those risks, through the tri-annual reporting process for all monitored projects and through interim briefings as required. | N/A | 100% of advice and reports are provided | 100% of advice and reports are provided |
| Maintain Gateway as the essential assurance methodology for major capital investments in the system. | N/A | Complete at least 13 Gateway reviews in 2013/14, and 85% of Senior Responsible Owners agree "Review was beneficial and will impact positively on the outcome of the programme/project" and "Report's recommendations will enable me to achieve improvements in the project's outcomes." | Complete at least 13 Gateway reviews in 2013/14, and 85% of Senior Responsible Owners agree "Review was beneficial and will impact positively on the outcome of the programme/project" and "Report's recommendations will enable me to achieve improvements in the project's outcomes." |
Reasons for Change in Appropriation
The increase is attributable to $1.900 million for one-off cost-recoverable activities, $1.600 million for the Analysis for Outcomes initiative, $1.500 million for Gateway and Major Project Monitoring activities that transferred from State Services Commission from 1 December 2013, $2 million in transfers due to a realignment of work priorities from policy advice, and expense transfers from 2012/13 to 2013/14 of $2.900 million.
Shared Support Services (M31)
Scope of Appropriation
This appropriation is limited to provision of support services to other agencies.
Expenses and Revenue
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 8,000 | 1,654 | 9,654 |
| Revenue from the Crown | - | - | - |
| Revenue from Others | 8,000 | 1,654 | 9,654 |
Reasons for Change in Appropriation
The increase in appropriation is to cover the increase in support costs through the central agencies shared services for emergency management functions, administered by the Department of the Prime Minister and Cabinet from 1 April 2014.
2.3 - Departmental Capital Expenditure and Capital Injections
The Treasury - Capital Expenditure PLA (M31)
Scope of Appropriation
This appropriation is limited to the purchase or development of assets by and for the use of the Treasury, as authorised by section 24(1) of the Public Finance Act 1989.
Capital Expenditure
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Forests/Agricultural | - | - | - |
| Land | - | - | - |
| Property, Plant and Equipment | 1,238 | 708 | 1,946 |
| Intangibles | 2,550 | 1,625 | 4,175 |
| Other | - | - | - |
Total Appropriation |
3,788 | 2,333 | 6,121 |
Reasons for Change in Appropriation
The increase in appropriation is related to the capital expenditure to implement the transfer of emergency management functions from the Department of Internal Affairs to the Department of the Prime Minister and Cabinet.
Capital Injections and Movements in Departmental Net Assets
The Treasury
| Details of Net Asset Schedule | 2013/14 Main Estimates Projections $000 |
2013/14 Supplementary Estimates Projections $000 |
Explanation of Projected Movements in 2013/14 |
|---|---|---|---|
| Opening Balance | 8,957 | 8,957 | Supplementary Estimates opening balance reflects the audited results as at 30 June 2013. |
| Capital Injections | 700 | 4,392 | Initial $700,000 for the Business Information Hub to support debt management functions. An additional $3.572 million provided for IT capital to implement the transfer of emergency management functions from Department of Internal Affairs to the Department of the Prime Minister and Cabinet, and $120,000 provided for leasehold improvement requirements for the Analysis for Outcomes initiative. |
| Capital Withdrawals | - | - | |
| Surplus to be Retained (Deficit Incurred) | - | (402) | Repayment of prior year surplus that was retained in 2012/13. |
| Other Movements | - | 402 | Retained surplus applied to 2013/14 expenditure. |
Closing Balance |
9,657 | 13,349 |
Part 3 - Details of Non-Departmental Appropriations#
3.1 - Non-Departmental Output Expenses
Management of the Crown's Obligations for Geothermal Wells (M31)
Scope of Appropriation
This appropriation is limited to the management and maintenance relating to geothermal wells and associated sites and structures for which the Crown accepts responsibility.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 151 | 144 | 295 |
Reasons for Change in Appropriation
The increase in 2013/14 reflects an expense transfer from 2012/13 for remedial work on redundant geothermal assets at Wairakei.
3.3 - Non-Departmental Borrowing Expenses
Debt Servicing PLA (M31)
Scope of Appropriation
This appropriation is limited to the payment of borrowing expenses for the Crown's New Zealand-dollar and foreign-currency debt, authorised by section 60(1)b of the Public Finance Act 1989.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 3,492,841 | 62,072 | 3,554,913 |
Reasons for Change in Appropriation
The change in appropriation reflects current forecast interest rate movements and the amount of debt outstanding.
3.4 - Non-Departmental Other Expenses
Crown Residual Liabilities (M31)
Scope of Appropriation
Residual obligations arising from administration of the Crown's sale and purchase agreements with SOEs and Crown entities and from the sale of Crown investments, and for the settlement of claims against the Crown arising from exposure to asbestos.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 230 | 225 | 455 |
Reasons for Change in Appropriation
The increase in appropriation relates to the transfer of funding from 2012/13 to cover potential future costs under contracts by the Crown.
Direct Sale costs for Implementing the Mixed Ownership Model (M31)
Scope of Appropriation and Expenses
| Type, Title, Scope and Period of Appropriations | Appropriations, Adjustments and Use | $000 |
|---|---|---|
Direct Sale costs for Implementing the Mixed Ownership Model (M31)This appropriation is limited to the direct sales costs of implementing the Mixed Ownership Model.Commences: 15 December 2011 Expires: 30 June 2015 |
Original Appropriation | 56,000 |
| Adjustments to 2012/13 | - | |
| Adjustments for 2013/14 | 6,485 | |
| Adjusted Appropriation | 62,485 | |
| Actual to 2012/13 Year End | 21,511 | |
| Estimated Actual for 2013/14 | 38,974 | |
| Estimated Actual for 2014/15 | - | |
| Estimated Appropriation Remaining | 2,000 |
Reasons for Change in Appropriation
The appropriation has been amended to reflect the timing of the partial asset sales and the attribution of costs across the related multi-year appropriations.
Government Superannuation Fund Authority - Crown's Share of Expenses PLA (M31)
Scope of Appropriation
This appropriation is limited to the Crown's share of the expenses of the Government Superannuation Fund Authority relating to the management and administration of the Government Superannuation Fund and the schemes, authorised by sections 15E and 95 of the Government Superannuation Act 1956.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 24,599 | 3,257 | 27,856 |
Reasons for Change in Appropriation
The Crown's share of expenses for the management and administration of the Government Superannuation Fund Unfunded Liability was increased to reflect the latest forecast of expenses following the 28 February 2014 Government Superannuation Fund revaluation.
Government Superannuation Fund Unfunded Liability PLA (M31)
Scope of Appropriation
This appropriation is limited to the net increase (excluding actuarial gains and losses) in the Crown's liability to the Government Superannuation Fund and the specified superannuation contribution withholding tax on employer contributions by the Crown, authorised by section 95AA of the Government Superannuation Act 1956.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 635,803 | (16,629) | 619,174 |
Reasons for Change in Appropriation
The Government Superannuation Fund Unfunded Liability was reduced as a result of a 28 February 2014 Government Superannuation Fund revaluation.
Impairment of Learning Media Funding Facility (M31)
Scope of Appropriation
This appropriation is limited to impairment of a funding arrangement in Learning Media.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 7,700 | 7,700 |
Reasons for Change in Appropriation
This new appropriation was established to recognise the impairment of funding to Learning Media Limited to assist with liquidity.
Impairment of Loans to Taitokerau Forest Limited (M31)
Scope of Appropriation
This appropriation is limited to the expense incurred on the impairment of new loans to Taitokerau Forests Limited.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 800 | (600) | 200 |
Reasons for Change in Appropriation
The decrease in appropriation reflects a reduction in risk that an impairment will be incurred in 2013/14.
Landcorp Protected Land Agreement - Operating (M31)
Scope of Appropriation
This appropriation is limited to providing for operating costs incurred under the Landcorp Protected Land Agreement.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 2,000 | 2,857 | 4,857 |
Reasons for Change in Appropriation
This appropriation provides for operating expenditure under the Landcorp Protected Land Agreement. Recognition and settlement of operating costs includes interest, management fees and accumulated losses. Due to the future potential for increased costs and lower offsetting revenue arising from the drought in February 2013, the 2012/13 under-expenditure was transferred into 2013/14.
Loyalty Bonus Scheme Related to Initial Public Offers (M31)
Scope of Appropriation and Expenses
| Type, Title, Scope and Period of Appropriations | Appropriations, Adjustments and Use | $000 |
|---|---|---|
Loyalty Bonus Scheme Related to Initial Public Offers (M31)This appropriation is limited to expenses incurred by allocating shares under a loyalty bonus scheme to eligible investors in initial public offers.Commences: 01 March 2013 Expires: 30 June 2016 |
Original Appropriation | 40,000 |
| Adjustments to 2012/13 | - | |
| Adjustments for 2013/14 | 12,100 | |
| Adjusted Appropriation | 52,100 | |
| Actual to 2012/13 Year End | 24,677 | |
| Estimated Actual for 2013/14 | 22,000 | |
| Estimated Actual for 2014/15 | - | |
| Estimated Appropriation Remaining | 5,423 |
Reasons for Change in Appropriation
This appropriation was established to cover the costs of running a Loyalty Bonus Share Issue from Initial Public Offers as part of the partial asset sale programme. It was used in the Mighty River Power and Genesis Initial Public Offers. The appropriation increased by $11 million through the transfer of funding from related appropriations and an additional $1.100 million to reflect the latest public offer.
New Zealand Aluminium Smelters - Electricity Agreement Incentive Payment (M31)
Scope of Appropriation
This appropriation is limited to the provision of an incentive payment to New Zealand Aluminium Smelters on the execution of a revised electricity agreement with Meridian Energy Limited
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 30,000 | 30,000 |
Performance information for this appropriation will be reported in the Treasury's 2013/14 Annual Report.
Reasons for Change in Appropriation
This new appropriation was established to provide an incentive payment to New Zealand Aluminium Smelters on the execution of a revised electricity agreement with Meridian Energy Limited.
New Zealand House - Renegotiation of Lease Arrangements (M31)
Scope of Appropriation
This appropriation is limited to activities to re-gear the lease on New Zealand House in London (including The Royal Opera Arcade and Her Majesty's Theatre).
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 200 | 200 |
Reasons for Change in Appropriation
This new appropriation has been established to provide for activities necessary to re-gear the lease on New Zealand House.
New Zealand House, London (M31)
Scope of Appropriation
This appropriation is limited to the operational costs of New Zealand House, London.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 13,000 | (200) | 12,800 |
Reasons for Change in Appropriation
The decrease reflects a transfer of funding to support the renegotiation of lease arrangements for New Zealand House.
Payment in respect of Export Credit Office Guarantees and Indemnities PLA (M31)
Scope of Appropriation
This appropriation is limited to payments by the Crown under export credit guarantees or indemnities given under Section 65ZD of the Public Finance Act 1989, as authorised by section 65ZG of that Act.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 527 | 527 |
Reasons for Change in Appropriation
The increase reflects claims made during 2013/14 pursuant to Export Credit Office guarantee obligations.
Payments in respect of Guarantees and Indemnities PLA (M31)
Scope of Appropriation
This appropriation is limited to payments by the Crown under a guarantee or indemnity given under section 65ZD of the Public Finance Act 1989, as authorised by section 65ZG of that Act.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 83 | 83 |
Reasons for Change in Appropriation
The increase reflects payment for legal costs associated with a guarantee.
Solid Energy New Zealand Limited - Redeemable Preference Shares Impairment (M31)
Scope of Appropriation
This appropriation is limited to the impairment of investment in the redeemable preference shares in Solid Energy New Zealand Limited.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 25,000 | 25,000 |
Reasons for Change in Appropriation
This new appropriation provides for the impairment of investment in the redeemable preference shares in Solid Energy New Zealand Limited which were given to assist Solid Energy with their liquidity.
Taitokerau Forests Limited Grant (M31)
Scope of Appropriation
This appropriation is limited to grants to Taitokerau Forests Limited for on-payment to forest owners, payable upon harvest of the forests.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 200 | 44 | 244 |
Reasons for Change in Appropriation
The under expenditure from 2012/13 was transferred into 2013/14 to meet the uncertain timing of grant payments.
Unwind of Discount Rate used in the Present Value Calculation of Payment under Crown Deed of Support with AMI (M31)
Scope of Appropriation
This appropriation is limited to the expense incurred in unwinding the discount rate used in the present value calculation of the liability as the liability nears settlement.
Expenses
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 10,218 | 5,077 | 15,295 |
Reasons for Change in Appropriation
This increase reflects the change in the revaluation of the Crown Deed of Support over a ten-year period due to discount rate changes and payment profile.
3.5 - Non-Departmental Capital Expenditure
Crown Asset Management Limited (CAML) Equity Injection (M31)
Scope of Appropriation
This appropriation is limited to the capital injection for CAML to purchase and manage assets of receiverships under the Deposit Guarantee Scheme and other residual Crown assets.
Capital Expenditure
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 10,000 | 10,000 |
Reasons for Change in Appropriation
The increase reflects an expense transfer from 2011/12 to 2012/13 to cover the capital injection of residual assets into Crown Asset Management Limited.
Landcorp Protected Land Agreement - Capital (M31)
Scope of Appropriation
This appropriation is limited to providing for capital investments incurred under the Landcorp Protected Land Agreement.
Capital Expenditure
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 2,000 | 2,409 | 4,409 |
Reasons for Change in Appropriation
The appropriation provides for capital expenditure under the Landcorp Protected Land Agreement. Due to the future potential for increased costs arising from the drought in February 2013 and the uncertain timing of this expenditure, the 2012/13 under-expenditure was transferred to 2013/14.
Learning Media Funding Facility (M31)
Scope of Appropriation
This appropriation is limited to provision of a funding arrangement to address the liquidity of Learning Media.
Capital Expenditure
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 7,700 | 7,700 |
Reasons for Change in Appropriation
This new appropriation was established to provide for a funding arrangement to address the liquidity of Learning Media Limited.
Solid Energy New Zealand Limited - Loan Facilities (M31)
Scope of Appropriation
This appropriation is limited to the provision of a loan facility and a stand-by facility to Solid Energy New Zealand Limited.
Capital Expenditure
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 130,000 | 130,000 |
Performance information for this appropriation will be reported in the Treasury's 2013/14 Annual Report.
Reasons for Change in Appropriation
This new appropriation was established to provide for a loan facility and a stand-by facility to Solid Energy New Zealand Limited.
Solid Energy New Zealand Limited - Redeemable Preference Shares (M31)
Scope of Appropriation
This appropriation is limited to the subscription of redeemable preference shares in Solid Energy New Zealand Limited by the Crown.
Capital Expenditure
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | - | 25,000 | 25,000 |
Performance information for this appropriation will be reported in the Treasury's 2013/14 Annual Report.
Reasons for Change in Appropriation
This new appropriation was established to provide for a subscription of redeemable preference shares in Solid Energy New Zealand Limited by the Crown.
Taitokerau Forests (M31)
Scope of Appropriation
This appropriation is limited to the provision of loans to Taitokerau Forests Ltd for forest management and development.
Capital Expenditure
| 2013/14 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 800 | 900 | 1,700 |
Reasons for Change in Appropriation
The timing of draw-downs of Taitokerau Forests Limited loan facility is uncertain, and this increase reflects the latest notifications for draw-downs on the loan agreement.