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Publications ~ Annual Report 2006

 

Non-Departmental Activities
Statement of Accounting Policies
for the year ended 30 June 2006

 

Overview

 

The following statements and schedules record the expenses, assets and liabilities that the department manages on behalf of the Crown. These non-departmental balances are consolidated into the Financial Statements of the Government of New Zealand and therefore readers of these statements and schedules should also refer to those Financial Statements for 2005/06.

Accounting Policies

 

Measurement and recognition rules applied in the preparation of these non-departmental financial statements and schedules are consistent with generally accepted accounting practice and Crown accounting policies.

The following particular accounting policies, which materially affect the measurement of financial results and financial position, have been applied.

 

Budget figures

The budget figures are those presented in the Budget estimates (main estimates) and those amended by the supplementary estimates and any transfer made by Order in Council under Section 5 of the Public Finance Act 1989.

Goods and services tax (GST)

All statements are GST exclusive, with the exception of the Statement of Financial Position (where the entries for creditors and payables and for debtors and receivables are GST inclusive) and the Schedule of Expenses.

Property, plant and equipment valuation

Land and buildings in Wellington and Auckland are valued as at 30 June 2006. The Schedule of Assets and Liabilities on page 49 provides a detailed breakdown.

Depreciation of assets

All fixed assets have been depreciated on a straight-line basis that reflects the decline in service potential of the asset during the reporting period. Specific rates of depreciation used for the various classes of fixed assets are as follows:

Buildings	2%
Fixtures and fittings	10%
Furniture	20%
Motor vehicles	25%
Plant & equipment	20%
Ground improvements	20%
Household ornaments	20%
Artwork	2%

Commitments

Future payments are disclosed as commitments at the point where a contractual obligation arises, to the extent that they are equally unperformed obligations.

 

Contingent liabilities

Contingent liabilities are disclosed at the point at which the contingency is evident.

 

Changes in accounting policies

There have been no changes in accounting policies. All policies have been applied on bases consistent with those used in the previous period.

 

Assets and liabilities

All assets and liabilities are recognised at fair value.

 

Non-Departmental Activities
Schedule of Expenses
for the year ended 30 June 2006

The Schedule of Expenses summarises non-departmental expenses that the department administers on behalf of the Crown.

	30.6.05 Actual $000	30.6.06 Actual $000	30.6.06 Main Estimates $000	30.6.06 Supp. Estimates $000
Vote: Prime Minister and Cabinet
Other expenses to be incurred by the Crown	839	813	805	828
Depreciation	379	396	445	445
Total non-departmental expenses	1,218	1,209	1,250	1,273

The comparative information presented in the Schedule of Expenses has been presented on a GST-inclusive basis. This comparative information has not been restated to exclude GST as approved appropriations for the 2004/05 financial year were made on a GST-inclusive basis, and any restatement of the comparative information would not reflect those approved appropriations.

The accompanying accounting policies and notes form part of and are to be read in conjunction with these statements.

 

Non-Departmental Activities
Statement of Expenditure and Appropriations
For the year ended 30 June 2006

 

The Statement of Expenditure and Appropriations details expenditure and capital payments incurred against appropriations.

The department administers these appropriations on behalf of the Crown.

	30.6.05 Actual $000	30.6.06 Actual $000	30.6.06 Main Estimates $000	30.6.06 Supplementary Estimates $000
Vote: Prime Minister and Cabinet Other expenses to be incurred by the Crown:
Fees for the Commissioner of Security Warrants (NZSIS Amendment (No 2) Act 1999)	23	29	30	30
Government House – other payments (Civil List Act 1979)	816	784	775	798
Total Appropriations for other expenses incurred by the Crown	839	813	805	828
Purchase or development of capital assets by the Crown: Government House	2,546	759	150	844
Total Appropriations for purchase or development of Crown assets	2,546	795	150	844

The comparative information presented in the Statement of Expenditure and Appropriations has been presented on a GST-inclusive basis. This comparative information has not been restated to exclude GST as approved appropriations for the 2004/05 financial year were made on a GST-inclusive basis, and any restatement of the comparative information would not reflect those approved appropriations.

The accompanying accounting policies and notes form part of and are to be read in conjunction with these statements.

Non-Departmental Activities
Schedule of Assets and Liabilities
as at 30 June 2006

The Schedule of Assets and Liabilities summarises the assets and liabilities that the department administers on behalf of the Crown.

		30.6.05 Actual $000	30.6.06 Actual $000	30.6.06 Main Estimates $000	30.6.06 Supplementary Estimates $000
Vote: Prime Minister and Cabinet
Current assets	Bank	441	644	251	272
Property, plant and equipment	Land	27,660	33,850	27,660	27,660
	Buildings	15,933	17,038	14,259	16,631
	Plant and equipment	-	-	3	38
	Furniture and fittings	35	20	104	49
	Motor vehicles	77	37	48	5
	Other assets (artworks, ornaments)	559	533	1,561	280
Total Non-departmental assets		44,705	52,122	43,886	44,935
Current liabilities	Accounts payable	59	136	50	50
	Accrued liabilities	91	22	-	-
	Fixed asset accruals	119	221	50	50
Total non-departmental liabilities		269	379	100	100

The accompanying accounting policies and notes form part of and are to be read in conjunction with these statements.

 

Non-Departmental Activities
Schedule of Commitments
as at 30 June 2006

 

	30.6.05 Actual $000	30.6.06 Actual $000
Vote: Prime Minister and Cabinet
Capital commitments Land & buildings	37	-
Total commitments	37	-
Term classification for operating commitments Less than one year	37	-
Total commitments	37	-

The accompanying accounting policies and notes form part of and are to be read in conjunction with these statements.

 

Non-Departmental Activities
Schedule of Contingent Liabilities
as at 30 June 2006

 

Vote: Department of the Prime Minister and Cabinet

 

Vote: Prime Minister and Cabinet

There are no contingent liabilities as at 30 June 2006.

(30 June 2005: Nil)