Financial Statements

For the year ended 30 June 2011

Statement of Comprehensive Income for the year ended 30 June 2011

The Statement of Comprehensive Income shows the components of revenue and expenditure (exclusive of Goods and Services Tax) relating to all outputs produced by Te Puni Kōkiri.

30-Jun-10 Actual $000		Note	30-Jun-11 Actual $000	30-Jun-11 Main Estimates $000	30-Jun-11 Supps Estimates $000
	Income
54,170	Crown		60,107	59,807	60,107
988	Other revenue	2	986	505	505
55,158	Total Income		61,093	60,312	60,612
	Expenses
28,735	Personnel	3	29,352	31,854	29,977
22,584	Operating	4	28,204	26,845	29,171
1,481	Depreciation and amortisation	5	1,041	1,266	1,117
346	Capital charge	6	347	347	347
	Total Expenses		61,093	60,312	60,612
2,012	Net Surplus / (Deficit)		2,149	-	-
-	Other comprehensive income		-	-	-
2,012	Total Comprehensive Income		2,149	-	-

Explanation of major variances against budget is detailed in note 16.

Statement of Financial Position as at 30 June 2011

The Statement of Financial Position shows the major classes of assets and major classes of liabilities and equity of Te Puni Kōkiri. The difference between the assets and liabilities is the taxpayers’ funds (net assets)

30-Jun-10 Actual $000		Note	30-Jun-11 Actual $000	30-Jun-11 Main Estimates $000	30-Jun-11 Supps Estimates $000
	Assets
	Current Assets
10,384	Cash and cash equivalents		10,588	4,545	8,019
373	Debtors and other receivables	7	298	50	50
290	Prepayments		180	114	114
11,047	Total Current Assets		11,066	4,709	8,183
	Non-current Assets
2,735	Property, plant and equipment	8	1,898	4,230	2,135
216	Intangible assets		111	283	172
2,951	Total Non-current Assets		2,009	4,513	2,307
13,998	Total Assets		13,075	9,222	10,490
	Liabilities
	Current Liabilities
	Creditors and other payables	10			3,268
	Provision for restructure	12			-
	Repayment of surplus				-
	Employee entitlements	11			1,814
9,046	Total Current Liabilities		8,209	3,814	5,082
	Non-current Liabilities
331	Employee entitlements		245	787	787
331	Total Non-current Liabilities		245	787	787
9,377	Total Liabilities		8,454	4,601	5,869
	Taxpayers’ Funds
4,621	General funds		4,621	4,621	4,621
4,621	Total Taxpayers’ Funds		4,621	4,621	4,621
13,998	Total Liabilities and Taxpayers’ Funds		13,075	9,222	10,490

^{Explanation of major variances against budget is detailed in note 16. The accompanying notes form part of these financial statements.}

Statement of Movements in Taxpayers’ Funds for the year ended 30 June 2011

The Statement of Movements in Taxpayers’ Funds shows the reconciliation of funds at the beginning of the year with the funds at the end of the year.

30-Jun-10 Actual $000		30-Jun-11 Actual $000	30-Jun-11 Main Estimates $000	30-Jun-11 Supps Estimates $000
6,146	Balance at 1 July	4,621	4,621	4,621
2,012	Total comprehensive income	2,149	-	-
(2,012)	Repayment of operating surplus to the Crown	(2,149)	-	-
(1,525)	Capital withdrawals	-	-	-
4,621	Balance at 30 June	4,621	4,621	4,621

Statement of Cash Flows for the year ended 30 June 2011

The Statement of Cash Flows shows the cash received and paid by Te Puni Kōkiri during the year, from its activities.

30-Jun-10 Actual $000		30-Jun-11 Actual $000	30-Jun-11 Main Estimates $000	30-Jun-11 Supps Estimates $000
	Cash Flows from Operating Activities
	Receipts from:
54,170	Crown	60,107	59,807	60,107
320	Department(s)	552	505	505
381	Other	509	-	499
	Payments to:
(18,823)	Suppliers	(29,327)	(30,583)	(34,496)
(29,359)	Employees	29,485)	(31,318)	(29,371)
(346)	Capital charge	(347)	(347)	(347)
(811)	Goods and services tax (net)	600	3,200	3,203
5,532	Net Cash from Operating Activities	2,609	1,264	100
	Cash Flow from Investing Activities
	Receipts from:
61	Sale of property, plant and equipment	95	-	80
	Purchase of:
	Property, plant and equipment	(436)	(2,281)	(533)
	Intangible assets			-
(485)	Net Cash from Investing Activities	(393)	(2,281)	(453)
	Cash Flow from Financing Activities
5,497)	Repayment of surplus	(2,012)	-	(2,012)
-	Capital contribution	-	-	-
(1,071)	Other financing cash outflows	-	-	-
(6,568)	Net Cash from Financing Activities	(2,012)	-	(2,012)
(1,521)	Net Increase / (Decrease) in Cash	(2,04)	(1,017)	(2,365)
11,905	Cash at the beginning of the year	10,384	5,562	10,384
10,384	Cash at the end of the year	10,588	4,545	8,019

^{The accompanying notes form part of these financial statements.}

Reconciliation of net operating surplus to net cash flows from operating activities

For the year ended 30 June 2011

The Reconciliation of Net Operating Surplus to Net Cash Flows from Operating Activities shows the non-cash adjustments and other adjustments applied to the net operating surplus as reported in the Statement of Comprehensive Income on page 70 to arrive at the net cash flows from operating activities disclosed in the Statement of Cash Flows on page 73.

30-Jun-10 Actual $000		30-Jun-11 Actual $000	30-Jun-11 Main Estimates $000	30-Jun-11 Supps Estimates $000
2,012	Net Operating Surplus	2,149	-	-
	Add: Non-cash items
-	Impairment losses	298	-	-
1,481	Depreciation	1,041	1,266	1,117
1,481	Total non-cash items	1,339	1,266	1,117
	Add/(Less) movements in working capital items
(286)	(Increase)/Decrease in debtors and receivables
(50)	(Increase)/Decrease in prepayments
2,883	Increase/(Decrease) in Creditors & Payables
(512)	Increase/(Decrease) in employee entitlements
2,035	Net movements in working capital	(873)	(2)	(997)
	Add/(Less) investing activity
4	Loss/Gain on sale of fixed assets	(6)	-	(20)
4	Total investing activity	(6)	-	(20)
5,532	Net cashflow from operating activities	2,609	1,264	100

^{The accompanying notes form part of these financial statements}

Statement of Departmental Commitments as at 30 June 2011

The Statement of Departmental Commitments shows the future contractual obligations (exclusive of GST) of Te Puni Kōkiri that will become liabilities if and when the terms and conditions of existing contracts are met.

Operating leases include lease payments for premises and motor vehicles.

Te Puni Kōkiri has long-term leases on its premises in New Zealand. The annual lease payments are subject to regular reviews, ranging from one year to four years. The amounts disclosed below as future commitments are based on the current rental rates.

30-Jun-10 Actual $000		30-Jun-11 Actual $000
	Accommodation lease commitments
1,266	Less than one year	3,072
487	One to two years	2,819
439	Two to five years	7,334
24	More than five years	678
2,216	Total accommodation lease commitments	13,903
	Other operating commitments
311	Less than one year
204	One to two years
-	Two to five years
-	More than five years
515	Total other operating commitments	190
2,731	Total commitments	14,093

^{The accompanying notes form part of these financial statements}

Statement of Departmental Contingent Assets and Liabilities as at 30 June 2011

The Statement of Departmental Contingent Assets and Liabilities shows amounts at balance date that could potentially become assets or liabilities depending on the occurrence of one or more uncertain future events after 30 June 2011. It does not include general or unspecified business risks or conditions.

30-Jun-10 Actual $000		30-Jun-11 Actual $000
	Contingent Liabilities	-
30	Other Liability claims	-
30	Total Contingent Liabilities	-
	Contingent Assets
-	Christchurch earthquake disruption - insurance claims	98
-	Total Contingent Liabilities	98

^{The accompanying notes form part of these financial statements}

Statement of Departmental \Expenditure and Capital Expenditure Appropriations for the year ended 30 June 2011

The Statement of Departmental Expenditure and Capital Expenditure Appropriations show expenditure (exclusive of Goods and Services Tax) against funds appropriated by Parliament.

30-Jun-10 Actual $000		30-Jun-11 Actual $000	30-Jun-11 Main Estimates $000	30-Jun-11 Supps Estimates $000
	VOTE: MāORI AFFAIRS
	Appropriation for classes of outputs
8,578	Policy - Social and Cultural	8,084	8,591	8,341
11,778	Policy - Economic and Enterprise	10,436	12,320	10,922
5,832	Policy - Crown Māori Relationships	6,352	6,151	6,553
7,726	Relationships and Information	7,333	7,693	7,343
10,069	Operations Management	9,381	8,743	9,469
1,019	Whānau Ora Administration	9,383	9,236	9,902
7,659	Integrated Whānau Social Assistance	7,507	7,078	7,582
485	Ministerial Economic Taskforce	468	500	500
53,146	Total Appropriations for Classes of Outputs	58,944	60,312	60,612
	Departmental Capital Expenditure
524	Te Puni Kōkiri - Capital Expenditure PLA	488	2,281	533

The Statement of Departmental Expenditure and Capital Expenditure against appropriations includes remeasurements of $0.003 million.

Expenses and capital expenditure approved under section 26B of the Public Finance Act 1989
Nil (Nil for the year ended 30 June 2010).

Expenses and capital expenditure incurred in excess of appropriation
Nil (Nil for the year ended 30 June 2010).

Expenses and capital expenditure incurred without appropriation or other authority, or outside scope of appropriation
Nil (Nil for the year ended 30 June 2010). Breaches of projected departmental net assets schedules Nil (Nil for the year ended 30 June 2010).

Breaches of projected departmental net assets schedules
Nil (Nil for the year ended 30 June 2010).

Statement of departmental unappropriated expenditure and capital expenditure as at 30 June 2011

There was no unappropriated expenditure for the year ended 30 June 2011 (Nil for the year ended 30 June 2010).

^{Explanation of major variances against budget is detailed in note 16.
The accompanying notes form part of these financial statements.}

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