Reconciliation of Forecast Net Cash Flows From Operating Activities
For The Year Ending 30 June 2008
This reconciliation discloses the non-cash adjustments applied to the surplus/(deficit) reported in the Forecast Statement of Financial Performance to arrive at the Net Cash Flows from Operating Activities disclosed in the Forecast Statement of Cash Flows.
| ACTUAL 30 JUNE 2006 $(000) |
BUDGET 30 JUNE 2007 $(000) |
ESTIMATED ACTUAL 30 JUNE 2007 $(000) |
FORECAST 30 JUNE 2008 $(000) | |
|---|---|---|---|---|
| Operating Surplus/(Deficit) | (1,437) | (60) | (985) | (60) |
| Add/(less) non-cash items: | ||||
| Depreciation and amortisation | 8,704 | 11,480 | 11,480 | 11,260 |
| Non operating financial liability items: | ||||
| Finance lease interest | - | - | - | 380 |
| Add/(less) non-cash working capital | ||||
| Movements: | ||||
| (Increase)/decrease in accounts receivable | (5,142) | 6,633 | 6,633 | - |
| (Increase)/decrease in prepayments | (99) | 102 | 102 | - |
| (Increase)/decrease in inventories | (3,093) | (3) | (3) | - |
| Increase/(decrease) in accounts payable | 1,344 | (2,426) | (2,426) | - |
| Increase/(decrease) in deferred revenue | 508 | (1,560) | (1,560) | (500) |
| Increase/(decrease) in employee entitlements | 1,308 | 252 | 252 | 500 |
| Increase/(decrease) in other provisions | (2,199) | (105) | (105) | - |
| Total Working Capital Movements | (7,373) | 2,893 | 2,893 | - |
| Items classified as investing activities: | ||||
| Net (gain)/loss on sale of fixed assets | (14) | - | - | - |
| Net Cash Flows from Operating Activities | (120) | 14,313 | 13,388 | 11,580 |
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.
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PO Box 2526, Wellington
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