Annual Report for the Year Ended 30 June 2011

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.