Statement of Forecast Financial Position
AS AT 30 JUNE 2008
The Forecast Statement of Financial Position reports the assets and liabilities of the Ministry.
| ACTUAL 30 JUNE 2006 $(000) |
BUDGET 30 JUNE 2007 $(000) |
ESTIMATED ACTUAL 30 JUNE 2007 $(000) |
FORECAST 30 JUNE 2008 $(000) | |
|---|---|---|---|---|
| TAXPAYERS' FUNDS | ||||
| General funds | 23,730 | 26,045 | 25,120 | 26,971 |
| Revaluation reserve | 362 | 1,762 | 1,762 | 1,762 |
| Total Taxpayers' Funds | 24,092 | 27,807 | 26,882 | 28,733 |
| REPRESENTED BY: | ||||
| CURRENT ASSETS | ||||
| Cash | 10,908 | 9,243 | 8,318 | 6,373 |
| Debtors and receivables | 15,041 | 11,200 | 11,200 | 11,200 |
| Inventory | 3,397 | 3,400 | 3,400 | 100 |
| Prepayments | 852 | 750 | 750 | 750 |
| Total Current Assets | 30,198 | 24,593 | 23,668 | 18,423 |
| NON-CURRENT ASSETS | ||||
| Debtors and receivables | 2,792 | - | - | - |
| Inventory | - | - | - | 3,300 |
| Property, plant and equipment | 47,530 | 56,767 | 56,767 | 34,825 |
| Intangible assets | - | - | - | 24,216 |
| Total Non-Current Assets | 50,322 | 56,767 | 56,767 | 62,341 |
| Total Assets | 80,520 | 81,360 | 80,435 | 80,764 |
| Current Liabilities | ||||
| Creditors and payables | 22,529 | 20,103 | 20,103 | 20,103 |
| Employee entitlements | 8,817 | 9,000 | 9,000 | 9,730 |
| Unearned revenue | 11,060 | 9,500 | 9,500 | 9,000 |
| Provisions | 405 | 300 | 300 | 498 |
| Finance lease liability | 1,921 | 2,200 | 2,200 | 2,200 |
| Provision for repayment to the Crown | 14 | - | - | - |
| Total Current Liabilities | 44,746 | 41,103 | 41,103 | 41,531 |
| NON-CURRENT LIABILITIES | ||||
| Employee entitlements | 7,681 | 7,750 | 7,750 | 8,000 |
| Provisions | 300 | 300 | 300 | 300 |
| Finance lease liability | 3,701 | 4,400 | 4,400 | 2,200 |
| Total Non-Current Liabilities | 11,682 | 12,450 | 12,450 | 10,500 |
| Total Liabilities | 56,428 | 53,553 | 53,553 | 52,031 |
| Net Assets | 24,092 | 27,807 | 26,882 | 28,733 |
The forecast financial statements for 2007/08 have been prepared in accordance with NZ GAAP and comply with NZ IFRS and other applicable financial reporting standards, as appropriate for public benefit entities. The comparative figures for 2005/06 and 2006/07 have been prepared under current GAAP and have not been restated to comply with NZ IFRS.
The Statement of Accounting Policies should be read in conjunction with these financial statements.
Contact for Enquiries
Strategy and Performance Group
Ministry of Agriculture and Forestry
Pastoral House
25 The Terrace
PO Box 2526, Wellington
Tel: +64 4 894 0100
Fax: +64 4 894 0738
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