Financial Reports (OBU 4430)

The following pages show comparisons of the 1995/96 year with the 1994/95 year, and the forecast for the 1996/97 year.

These accounts are GST exclusive and have been audited in conjunction with the Ministry of Commerce's accounts for the year.

The following chart shows how the Boards Output Business Units (OBU's) are now arranged.

With the advent of the purchase of administrative services from the Ministry of Commerce through the Memorandum of Understanding, and for the purpose of transparency, the Board has now separated its budget to reflect the changed environment it now operates in. There are now three output Business Units (OBU's) associated with the Board's activities.

OBU 4430 is the overriding budget of the Board. This budget is controlled by the Board itself and records all revenue payable to the Board.

Expenditure incurred directly by the Board (ie payment for contractual work) or that payable for the services purchased under the Memorandum of Understanding are shown in OBU 4430.

Board Budget (OBU 4430)

Notes

1. The line item "Transfer under Memorandum of Understanding" represents the total expenditure payable to the Ministry of Commerce for the purchase of services under the Memorandum of Understanding.

2. The line item "Transfer from accumulated surpluses" is the monies that the Board has estimated will be drawn from the surpluses that have been accumulated since the close of the 1993/94 financial year.

3. Revenue from the sale of certificates of compliance rose by 3.8% over that received for the 1994/95 financial year.

4. The line item "Overheads" includes $85,000 of personnel expenses.

5. Revenue associated with the issuing of practising licences decreased by approximately 11% compared to that received for the 1994/95 financial year. This reduction is a reflection of the Board's decision to reduce the price of practising licences for electrical inspectors and electricians and the reduction in the overall issuance of practising licences of approximately 4%.

Accumulated Surpluses:

The closing balance represents the accumulated surpluses and deficits arising from audit operations from 1 July 1993.

Audit Administration Budget (OBU 4434)

Notes

1. This OBU is managed within the Ministry of Commerce in accordance with the requirements of the Memorandum of Understanding.

2. The line item "Operating" is the expenditure associated with the administration of the Board's audit programmes.

3. The line item "Overheads" in the 1996/97 estimates includes $23,000 of personnel expenses.

4. The line item "'Total Expenditure" in the 1996/97 estimates is the price the Ministry of Commerce will charge the Board for services carried out under the Memorandum of Understanding. This figure is reflected in line item "Total income".

General Budget (OBU 4432)

Notes

1. The OBU is managed within the Ministry of Commerce in accordance with the requirements of the Memorandum of Understanding.

2. This OBU relates to the carrying out of functions such as registration issuing, examination conducting and practising licence issuing.

3. The line item "Overheads" in the 1996/97 estimates includes $123,000 of personnel expenses.

4. The line item "Total Expenditure" in the 1996/97 estimates is the price the Ministry of Commerce will charge the Board for services carried out under the Memorandum of Understanding. This figure is reflected in line item "Total Income".

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