Annual Report for the year ended 30 June 2008
Part 5: Non-departmental statements and schedules
The following non-departmental statements and schedules record the income, expenses, assets, liabilities, commitments, contingent liabilities and contingent assets that the Ministry manages on behalf of the Crown.
Schedule of non-departmental income
For the year ended 30 June 2008
| Actual 2007 $000 | Actual 2008 $000 |
Main estimates 2008 $000 |
Supp estimates 2008 $000 |
|
|---|---|---|---|---|
| Income | ||||
| Other operating revenue | - | 32 | - | - |
| Realised gains on derivatives | 7,494 | 2,275 | - | - |
| Unrealised gains on derivatives | - | 42,163 | - | - |
| Unrealised foreign exchange gains | 333 | 14,681 | - | - |
| Interest | 754 | 579 | 870 | 547 |
| Total non-departmental income | 8,581 | 59,730 | 870 | 547 |
Schedule of non-departmental capital receipts
For the year ended 30 June 2008
Sales of defence equipment to the NZDF in 2007/08 were:
| Actual 2007 $000 | Actual 2008 $000 |
Main estimates 2008 $000 |
Supp estimates 2008 $000 |
|
|---|---|---|---|---|
| ANZAC Ships | 174 | - | - | - |
| B-757 aircraft modification | 41,559 | 15,175 | 29,638 | 15,175 |
| Light armoured vehicles | 3,965 | 606 | 144 | 606 |
| Tactical communications | (325) | (628) | 10 | (628) |
| Light operational vehicles | 17,028 | 1,326 | 1,403 | 1,326 |
| Medium range anti-armour weapon | 1,390 | 741 | 3,045 | 741 |
| Air defence system | 7,198 | 1,064 | 52 | 997 |
| P-3K Orion systems upgrade | 59,048 | 21,142 | 44,157 | 21,210 |
| Medium utility helicopter | 180,004 | 100,730 | 119,508 | 100,729 |
| Project Protector vessels | 114,245 | 76,378 | 142,805 | 76,378 |
| C-130H life extension | 84,981 | 36,645 | 50,421 | 36,645 |
| Close-in weapon system | - | 51 | - | 51 |
| Total non-departmental capital receipts | 509,267 | 253,230 | 391,183 | 253,230 |
Schedule of non-departmental expenses
For the year ended 30 June 2008
| Actual 2007 $000 | Actual 2008 $000 |
Main estimates 2008 $000 |
Supp estimates 2008 $000 |
|
|---|---|---|---|---|
| Expenditure | ||||
| Realised losses on derivatives | 11,140 | 190 | - | - |
| Unrealised losses on derivatives | 92,018 | 229 | - | - |
| Unrealised foreign exchange losses | 25,077 | 319 | - | - |
| GST input expense | 26,639 | 8,355 | - | - |
| Total non-departmental expenditure | 154,874 | 9,093 | - | - |
Schedule of non-departmental assets
As at 30 June 2008
| Note | Actual 2007 $000 | Actual 2008 $000 |
|
|---|---|---|---|
| Assets Current assets |
|||
| Cash and cash equivalents | 210,407 | 114,819 | |
| Debtors and other receivables | 2 | 6,723 | 724 |
| Inventory - work in progress | 133,759 | 153,632 | |
| Prepayments | - | 10 | |
| Derivatives in gain | - | 1,323 | |
| Total current assets | 350,889 | 270,508 | |
| Non current assets | |||
| Derivatives in gain | - | 331 | |
| Total non-current assets | - | 331 | |
| Total non-departmental assets | 350,889 | 270,839 |
Schedule of non-departmental liabilities
As at 30 June 2008
| Note | Actual 2007 $000 | Actual 2008 $000 |
|
|---|---|---|---|
| Liabilities Current liabilities |
|||
| Creditors and other payables | 3 | 21,815 | 1,114 |
| Derivatives in loss | 14,473 | 5,787 | |
| Total current liabilities | 36,288 | 6,901 | |
| Non current liabilities | |||
| Derivatives in loss | 60,888 | 14,822 | |
| Total non-current liabilities | 60,888 | 14,822 | |
| Total non-departmental liabilities | 97,176 | 21,723 |
Schedule of non-departmental capital commitments
As at 30 June 2008
Non-cancellable capital commitments
The schedule sets out the level of capital commitments made against out-year appropriations and funding baselines for non-departmental capital expenditure. The Ministry on behalf of the Crown has entered into non-cancellable contracts for the purchase of defence equipment.
| Actual 2007 $000 | Actual 2008 $000 |
|
|---|---|---|
| Non-cancellable capital commitments | ||
| Not later than one year | 307,080 | 247,474 |
| Later than one year and not later than two years | 129,091 | 217,391 |
| Later than two years and not later than five years | 348,667 | 204,012 |
| Later than five years | - | - |
| Total non-cancellable capital commitments | 784,838 | 668,877 |
Schedule of non-departmental contingent liabilities and contingent assets
As at 30 June 2008
Contingent liabilities
The Ministry on behalf of the Crown has no contingent liabilities (2007 = Nil).
Contingent assets
The Ministry on behalf of the Crown has no contingent assets (2007 = Nil).
Guarantees indemnities
The Ministry on behalf of the Crown has given no guarantees and indemnities (2007 = Nil).
Statement of non-departmental capital expenditure against appropriation
For the year ended 30 June 2008
| Actual 2007 $000 | Actual 2008 $000 |
Main estimates 2008 $000 |
Supp estimates 2008 $000 |
|
|---|---|---|---|---|
| Vote Defence | ||||
| Appropriations for non-departmental capital expenditure | ||||
| Purchase of defence equipment | 469,787 | 279,757 | 252,195 | 290,275 |
| Total appropriation for non-departmental capital expenditure | 469,787 | 279,757 | 252,195 | 290,275 |
Statement of non-departmental unappropriated capital expenditure
For the year ended 30 June 2008
There has been no unappropriated expenditure for the year ended 30 June 2008
(2007 = Nil).
Schedule of non-departmental unappropriated capital expenditure
For the year ended 30 June 2008
Project payments made in 2007/08 were:
| Project | Actual 2008 $000 |
|---|---|
| ANZAC frigate platform systems upgrade | 28 |
| B-757 aircraft modification | 5,067 |
| Light armoured vehicles | 667 |
| Tactical communications | (12) |
| Light operational vehicles | 1,116 |
| Medium range anti-armour weapon | 348 |
| Air defence system | 176 |
| P-3K Orion systems upgrade | 13,412 |
| Medium utility helicopter | 108,848 |
| Project Protector vessels | 74,959 |
| C-130H life extension | 29,950 |
| Close-in weapon system | 9,797 |
| Training/light utility helicopter | 35,401 |
| Total | 279,757 |
(Figures are GST exclusive)
The accompanying notes form part of these financial statements.
For a full understanding of the Crown’s financial position and the results of its operations for the period, reference should be made to the consolidated Financial Statements of the Government for the year ended 30 June 2008.
