Annual Report for the year ended 30 June 2003
Part 3: Departmental financial statements (continued)
Output Class D3 - Management of equipment procurement
Project financial performance
For the year ended 30 June 2003
Project payments capitalised against Crown appropriations in 2002/03, and recoveries from New Zealand Defence Force, were (see table below):
Expenditure |
Recoveries |
||||
|---|---|---|---|---|---|
| 2002/03 Main estimates $000 |
2002/03 Supp. estimates $000 |
30/6/2003 Actual $000 |
2002/03 Supp. estimates $000 |
30/6/2003 Actual $000 |
|
| ANZAC Ships | 16,012 | 29,992 | 35,453 | 37,235 | 37,235 |
| Maritime helicopter | 6,331 | 33,409 | 15,745 | 35,001 | 35,001 |
| P3 Orion autopilot | - | 1,370 | 1,177 | 2,333 | 2,333 |
| B-757 aircraft | - | 121,373 | 93,694 | - | - |
| Light armoured vehicles | 169,790 | 196,778 | 210,522 | 31,142 | 31,142 |
| Tactical communications | 8,532 | 22,890 | 7,306 | 19,077 | 19,077 |
| Other projects | 28 | - | 81 | 87 | 87 |
| GST on imported goods and NZ payments | 11,718 | 40,116 | 19,881 | ||
| Total | 212,411 | 445,928 | 383,859 | 124,875 | 124,875 |
(Figures are GST exclusive)
- Prices agreed for new projects approved by the Government during the financial year have been based on a competitive tender process, and contract awards have been subjected to consideration of through-life costs, quality, delivery schedule and local industrial participation.
- Potential risks for all projects have been identified together with corrective actions required or taken.
- All payments made have been at the contracted prices to the correct suppliers upon the achievement of agreed milestones.
- ISO 9001 certification has been maintained.
Financial performance (GST exclusive)
For the year ended 30 June 2003
| 30/6/2002 Actual $000 | 30/6/2003 Actual $000 |
30/6/2003 Main estimates $000 |
30/6/2003 Supp. estimates $000 |
|
|---|---|---|---|---|
| Revenue | ||||
| Crown | 3,138 | 3,375 | 3,667 | 3,613 |
| Other | 1,073 | 4,338 | 2,146 | 3,990 |
| Total revenue | 4,211 | 7,713 | 5,813 | 7,603 |
| Expenditure | 4,002 | 7,441 | 5,813 | 7,603 |
| Surplus /(deficit) | 209 | 272 | - | - |
The appropriation (GST inclusive) for this output class was increased by $2,014,000 for:
| $(000) (GST incl) |
|
|---|---|
| Tender phase costs for Light Operational Vehicles. This is an expense transfer final adjustment approved by the Minister of Finance on 15 April 2002 and is time-limited to 30 June 2003. Funded by Revenue Crown. |
29 |
Project Definition Study to investigate, provide advice and options, and make recommendations on how best to deliver, establish and sustain a cost effective, fit for purpose, Joint Command and Control System for the NZ Defence Force. Approved by Joint Ministers September 2002. Funded by recovery from NZ Defence Force as Revenue Other. |
949 |
|
Forecasting change for final costs of Life of Type Study C-130 Hercules aircraft. Funded by recovery from NZ Defence Force as Revenue Other. |
158 |
|
Initial project costs for purchase of B-757 aircraft. Funded by recovery from NZ Defence Force as Revenue Other. |
552 |
Initial project costs for upgrade of mission systems and communications/navigation systems on the P3K Orion aircraft (Project GUARDIAN) approved by Joint Ministers. Funded by recovery from NZ Defence Force as Revenue Other. |
208 |
Initial project costs for life extension of the C-130 Hercules aircraft. (Project PEGASUS) approved by Joint Ministers. Funded by recovery from NZ Defence Force as Revenue Other. |
208 |
A fiscally neutral adjustment from output class D3 Management of Equipment Procurement to output class D2 Audit and Assessment of Performance to allow for a small rebuilding of evaluation work. |
(90) |
| Total | 2,014 |
