Financial Reports

The following pages show comparisons of the 1998/99 year with the 1997/98 year and the forecast for the 1999/2000 year. These accounts are GST exclusive and have not been audited. The information contained in these statements forms part of the Ministry of Commerce consolidated statements audited by Audit New Zealand, and will be finalised by 30 September 1999. Expenditure incurred directly by the Board (that is, payment for contractual work and that payable for services under the Service Level Agreement) is shown in the Board’s budget.

Accumulated Surpluses

	ACTUAL 1997/1998 $000's	ACTUAL 1998/1999 $000's	ESTIMATES 1999/2000 $000's
Opening Balance	775	700	231
Add Surplus (Deficit)	(75)	(469)	37
Closing Balance	700	231	268

Revenue Forecasts

It is expected that revenue will be static for the next three years (to 30 June 2003). The annual revenue over these years is estimated to be $2.6 million. Anticipated changes to fees and charges are not expected to have a significant effect on revenue as the changes will be, effectively, fiscally neutral.

Consolidated Board Budget (OBU4430)

Income

	ACTUAL 1997/1998 $000's	ESTIMATES 1998/1999 $000's	ACTUAL 1998/1999 $000's	ESTIMATES 1999/2000 $000's
Practising Licences	1,392	1,222	1,278	1,800
Examination/registration fees	303	300	325	150
Sale of publications	9	9	11	10
Miscellaneous revenue	35	15	25	37
Certificates of compliance	1,128	894	987	1,000
Transfer from accumulated surpluses	75	673	448	1,000
Total Income	2,942	3,113	3,074	2,960

Expenditure

	ACTUAL 1997/1998 $000's	ESTIMATES 1998/1999 $000's	ACTUAL 1998/1999 $000's	ESTIMATES 1999/2000 $000's
Personnel	63	63	60	117
Operating	1,175	1,240	1,214	1,142
Depreciation	2	2	2	1
Capital charge	1	3	3	3
Indirect charges	0	17	17	21
Support services	202	252	262	289
Transfer under Service Level Agreement	1,499	1,536	1,516	1,387
Total Expenditure	2,942	3,113	3,074	2,960

General Administration Budget (OBU 4432)

Income

	ACTUAL 1997/1998 $000's	ESTIMATES 1998/1999 $000's	ACTUAL 1998/1999 $000's	ESTIMATES 1999/2000 $000's
Transfer from Board budget	1051	1086	1063	999
Total Income	1051	1086	1063	999

Expenditure

	ACTUAL 1997/1998 $000's	ESTIMATES 1998/1999 $000's	ACTUAL 1998/1999 $000's	ESTIMATES 1999/2000 $000's
Personnel	247	241	236	240
Operating	319	351	321	278
Depreciation	10	6	6	8
Capital charge	3	3	3	7
Indirect charges	0	40	40	67
Support services	472	445	457	399
Total Expenditure	1051	1086	1063	999
Surplus (Deficit)	0	0	0	0

Note: This OBU is managed within the Ministry of Commerce in accordance with the Service Level Agreement and relates to functions such as granting registrations, issuing licences and conducting examinations.

AUDIT ADMINISTRATION BUDGET (OBU 4434)

Income

	ACTUAL 1997/1998 $000's	ESTIMATES 1998/1999 $000's	ACTUAL 1998/1999 $000's	ESTIMATES 1999/2000 $000's
Transfer from Board budget	448	450	453	388
Total Income	448	450	453	388

Expenditure

	ACTUAL 1997/1998 $000's	ESTIMATES 1998/1999 $000's	ACTUAL 1998/1999 $000's	ESTIMATES 1999/2000 $000's
Personnel	150	111	109	141
Operating	124	150	152	98
Depreciation	1	3	3	2
Capital charge	4	2	1	1
Indirect charges	0	20	21	40
Support services	169	164	167	106
Total Expenditure	448	450	453	388
Surplus (Deficit)	0	0	0	0

Note: This OBU is managed within the Ministry of Commerce in accordance with the Service Level Agreement and relates to functions such as audit administration, certificate of compliance sales and distribution of electrical safety certificates.

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Page Last Modified: 2007-05-17

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