Table of contents:
Note 1: Statement of Non-Departmental Accounting Policies
These non-departmental statements and schedules record the expenses, revenue and
receipts, assets and liabilities that Te Puni Kōkiri manages on behalf of the
The Non-Departmental balances are consolidated into the Financial Statements of
the Government and therefore readers of these statements and schedules should
also refer to the Financial Statements of the Government for 2010/11.
Basis of Preparation
The non-departmental schedules and statements have been prepared in accordance
with the accounting policies of the Financial Statements of the Government,
Treasury Instructions, and Treasury Circulars.
Measurement and recognition rules applied in the preparation of these
non-departmental schedules and statements are consistent with New Zealand
generally accepted accounting practice as appropriate for public benefit
There have been no changes in accounting policies during the financial year.
Statement of Compliance
These financial statements have been prepared in accordance with New Zealand
generally accepted accounting practice. They comply with NZ IFRS and other
applicable Financial Reporting Standards, as appropriate for public benefit
Measurement and recognition rules applied in the preparation of the
Non-Departmental statements and schedules are consistent with generally accepted
accounting practice and the Financial Statements of the Government’s accounting
policies. The financial statements have been prepared on an historical cost
The financial statements are presented in New Zealand dollars and all values are
rounded to the nearest thousand dollars ($000). The functional currency of Te
Puni Kōkiri is New Zealand dollars.
The following particular accounting policies that materially affect the
measurement of financial results and financial position have been applied
The budget figures are those presented in the 2009 Main Estimates as amended by
the 2009/10 Supplementary Estimates and any transfer made by Order in Council
under section 26A of the Public Finance Act 1989.
Revenue Te Puni Kōkiri derives revenue through the provision of outputs to the
Crown and for services to third parties. Revenue is measured at the fair value
of consideration received.
Revenue from supply of services is recognised at balance date on a straight line
basis over the specified period for the services, unless an alternative method
better represents the stage of completion of transaction.
Goods and Services Tax (GST) The Statements of Non-Departmental Expenditure and
Appropriations are exclusive of GST. The Statement of Financial Position is
exclusive of GST, except for Creditors and Payables, and Debtors and
Receivables, which are GST inclusive.
The amount of GST owing to or from the Inland Revenue Department at balance
date, being the difference between Output GST and Input GST, is included in
Creditors and other Payables or Debtors and other Receivables (as appropriate).
Commitments Future expenses and liabilities to be incurred on contracts that
have been entered into at balance date are disclosed as commitments to the
extent that there are equally unperformed obligations.
Te Puni Kōkiri holds a number of Crown land blocks which are intended for
disposal. All the land blocks are assessed for material movement in carrying
value each year. The land blocks held for sale are revalued annually if there is
a change in its disposal status during the year. For land blocks held for sale
where there has not been a change, independent valuations are done regularly (3
years). All other land blocks are held at cost. For the 2008/09 financial year,
Independent valuations were done by Veitch Morison Valuers Ltd, Garton and
Associates, E.I. Clissold and QV Valuations between 26 May 2009 and 8 July 2009.
Refer to “The Supplementary Estimates of Appropriations for the year ending 30
June 2011” for an explanation of significant budget changes between the 2010
Main Estimates and 2010/11 Supplementary Estimates for Vote Māori Affairs (B.7 -
Pages 614 to 614).
The major changes included:
The following notes explain the significant variances between Main Estimates and
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