Statement of Unappropriated Expenditure and Capital Expenditure as at 30 June 2007

In terms of the Public Finance Act 1989, approval has been sought under section 26(c) from the Minister of Finance for unappropriated expenditure totalling $0.093million (there was no unappropriated expenditure for the year ended 30 June 2006).

Forecasts of salary increases by the Māori Trustee were discovered to be incorrect in the last month of the financial year. This resulted in unappropriated expenditure of $0.093m.

Forecasts prepared in May, when final remuneration decisions were taken, indicated that no additional appropriation was required in 2006/07 and therefore no changes were requested in the Supplementary Estimates.

The accompanying accounting policies and notes form part of these Financial Statements.

For information on major variances against budget refer Note 9: Explanation for Significant Variances.