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Annual Report 30 June 2013

Non-departmental statements and schedules

For the year ended 30 June 2013

The following non-departmental statements and schedules record the income, expenses, assets, liabilities, commitments, contingent liabilities, contingent assets, and trust accounts that we manage on behalf of the Crown.

Statement of non-departmental expenditure and capital expenditure against Appropriations

For the year ended 30 June 2013


30/06/12
Actual
$000

30/06/13
Actual
$000

30/06/13
Main
estimates
$000

30/06/13
Supp.
estimates
$000

VOTE: FOREIGN AFFAIRS AND TRADE

Non-departmental output expenses

Annual

15,530

Antarctic research and support

15,280

15,280

15,280

4,000

Promotion of Asian skills and relationships

4,000

4,000

4,000

1,400

Pacific Cooperation Foundation

1,400

1,400

1,400

20,930

Total non-departmental output expenses

20,680

20,680

20,680

Non-departmental other expenses

884

Disbursements made, and exemptions from taxation Permanent Legislative Authority

1,052

1,150

1,150

Annual

43,053

Subscriptions to international organisations

39,796

56,001

54,101

-

Loss on sale of shareholding in Pacific Forum Line

170

-

353

43,937

Total non-departmental other expenses

41,018

57,151

55,604

64,867

77,831

76,284


30/06/12
Actual
$000

30/06/13
Actual
$000

30/06/13
Main
estimates
$000

30/06/13
Supp.
estimates
$000

VOTE: OFFICIAL DEVELOPMENT ASSISTANCE

Other expenses incurred by the Crown

114,119

International agency funding *

92,106

94,000

90,087

-

International development assistance *

344,916

405,113

411,580

22,870

New Zealand voluntary agencies grants

-

-

-

96,596

Global development assistance

-

-

-

276,910

Pacific development assistance

-

-

-

510,495

499,113

501,667

* MYA 1 July 2012 30 June 2015

The accompanying accounting policies and notes are an integral part of these statements and schedules. These non-departmental balances are consolidated into the financial statements of the Government and therefore readers of these statements and schedules should also refer to the financial statements of the Government for 2012/13.

During the year ended 30 June 2013, MFAT had two multi-year appropriations in Vote Official Development Assistance: international agency funding and international development assistance.

These funded other expenses to be incurred by the Crown for the provision of assistance for development activities for non-Pacific countries (including Asian, African, Latin, American, Caribbean, and Middle Eastern countries), and Pacific Island countries.

This assistance, which included some humanitarian assistance, was provided to development organisations, partner countries, and other delivery mechanisms, to implement a range of development activities including the design, management, implementation, and evaluation of those partner-led activities. This assistance is also provided to multilateral agencies and international voluntary agencies to assist them to provide development.

The assistance is to be consistent with the government's directions and the Minister's requirements for the New Zealand Aid Programme to work with development partners to ensure aid expenditure is delivered efficiently and is targeted as closely as possible to need. Both appropriations commenced on
1 July 2012 and expire on 30 June 2015.

Appropriation

International agency funding
$000

International development assistance
$000

Original appropriation

282,000

1,207,003

Adjustments 2012/13

881

40,536

Adjusted appropriation

282,881

1,247,539

Actual to 2012/13 year end

(92,106)*

(344,916)**

Appropriation Remaining

190,775

902,623

* Estimated actual expenditure for 2012/13 was $90.087 million

** Estimated actual expenditure for 2012/13 was $411.580 million

The accompanying accounting policies and notes are an integral part of these statements and schedules. These non-departmental balances are consolidated into the financial statements of the Government and therefore readers of these statements and schedules should also refer to the financial statements of the Government for 2012/13.

Statement of non-departmental unappropriated expenditure and capital expenditure

For the year ended 30 June 20123

MFAT had no unappropriated expenditure as at 30 June 2013 (30 June 2012: Nil).

Schedule of non-departmental revenue

For the year ended 30 June 2013

30/06/12
Actual
$000

30/06/13
Actual
$000

30/06/13
Main
estimates
$000

30/06/13
Supp.
estimates
$000

Non-departmental recoveries

-

Pacific Forum Line dividend

124

-

-

155

Other operational revenue

238

-

-

155

-

-

Other operational revenue is primarily the repayment of unspent grant funding, on completion of development activities by partners. These grants were provided for the delivery or implementation of development activities under the New Zealand Aid Programme in prior years.

The accompanying accounting policies and notes are an integral part of these statements and schedules. These non-departmental balances are consolidated into the financial statements of the Government and therefore readers of these statements and schedules should also refer to the financial statements of the Government for 2012/13.

Schedule of non-departmental expenditure

For the year ended 30 June 2013

30/06/12
Actual
$000

30/06/13
Actual
$000

30/06/13
Main
estimates
$000

30/06/13
Supp.
estimates
$000

576,270

576,944

577,951

Outputs

15,530

New Zealand Antarctic Institute

15,280

15,280

15,280

4,000

Asia New Zealand Foundation

4,000

4,000

4,000

1,400

Pacific Cooperation Foundation

1,400

1,400

1,400

20,930

Total outputs

20,680

20,680

20,680

Other expenses

43,053

Subscriptions to international organisations

39,796

56,001

54,101

510,495

Official Development Assistance

437,022

499,113

501,667

884

Diplomatic exemptions

1,052

1,150

1,150

-

Loss on sale of shareholding in Pacific Forum Line

170

-

353

818

Revaluation of shares

-

-

-

90

Net loss on foreign exchange

15

-

-

555,340

Total other expenses

478,055

556,264

557,271

The accompanying accounting policies and notes are an integral part of these statements and schedules. These non-departmental balances are consolidated into the financial statements of the Government and therefore readers of these statements and schedules should also refer to the financial statements of the Government for 2012/13.

 

Schedule of non-departmental assets

As at 30 June 2013

30/06/12
Actual
$000

Note

30/06/13
Actual
$000

30/06/13
Main
estimates
$000

30/06/13
Supp.
estimates
$000

50,031

11,456

63,431

CURRENT ASSETS

40,555

Cash

19,204

-

53,955

120

Debtors and receivables

2

435

872

120

2,327

Prepayments

3

5,735

3,633

2,327

43,002

Total current assets

25,374

4,505

56,402

NON-CURRENT ASSETS

6,133

Shares in foreign organisations

4

5,781

6,951

6,133

896

Debtors and receivables

896

-

896

7,029

Total non-current assets

6,677

6,951

7,029

In addition, MFAT monitors the New Zealand Antarctic Institute a Crown entity. We also monitor two other entities as defined by Schedule 4 of the Public Finance Act: the Pacific Cooperation Foundation and the Asia New Zealand Foundation respectively. The investment in these entities is recorded within the Crown financial statements on a line-by-line basis. No disclosure is made in this schedule.

The non-current prepayment is for the Bond of USD690,000 for the Tokelau Interim Ferry.

The accompanying accounting policies and notes are an integral part of these statements and schedules. These non-departmental balances are consolidated into the financial statements of the Government and therefore readers of these statements and schedules should also refer to the financial statements of the Government for 2012/13.

 

Schedule of non-departmental liabilities

As at 30 June 2013

30/06/12
Actual
$000

30/06/13
Actual
$000

30/06/13
Main
estimates
$000

30/06/13
Supp.
estimates
$000

85,906

65,923

85,906

CURRENT LIABILITIES

53,726

Creditors and payables

48,698

42,393

53,726

53,726

Total current liabilities

48,698

42,393

53,726

NON-CURRENT LIABILITIES

32,180

Creditors and payables

43,589

23,530

32,180

32,180

Total non-current liabilities

43,589

23,530

32,180

Current liabilities creditors and payables, includes $25.292 million of accruals and accounts payable for contracts providing for the delivery or implementation of development activities under the New Zealand Aid Programme (Vote Official Development Assistance). The balance of $23.406 million is for promissory notes issued to the Asian Development Bank, World Bank, and Global Environment Fund by New Zealand that will be due for encashment during the year ending 30 June 2014.

Non-current liabilities creditors and payables of $43.589 million is for promissory notes issued to the Asian Development Bank, World Bank, and Global Environment Fund by New Zealand, that will be due for encashment during 30 June 2015 and outyears.

Creditors and other payables are non-interest bearing and are normally settled on 30-day terms; therefore the carrying value of creditors and other payables approximate their fair value.

The accompanying accounting policies and notes are an integral part of these statements and schedules. These non-departmental balances are consolidated into the financial statements of the Government and therefore readers of these statements and schedules should also refer to the financial statements of the Government for 2012/13.

Statement of non-departmental contingent liabilities

As at 30 June 2013

Foreign
currency
'000

30/06/12
NZD
$000

30/06/13
Foreign
currency
'000

NZD
$000

34,416

Guarantees Asian Development
Bank for loans to the Cook Islands Government

SDR

2,830

5,460

Telecommunications loan

SDR

2,677

5,201

SDR

449

867

Multiple small-project loan

SDR

396

770

SDR

1,240

2,393

Multi-project loan

SDR

1,160

2,254

SDR

387

747

Development Bank loan

SDR

349

677

SDR

706

1,362

Development Bank loan

SDR

670

1,302

SDR

242

468

Telecommunications loan

SDR

230

447

SDR

5,854

11,297

SDR

5,482

10,651

10,040

Guarantees other

11,571

2,000

Indemnity other

2,000

European Bank for Reconstruction and Development

EUR

7,000

11,079

Uncalled share capital

EUR

7,000

11,739

Unquantified contingent liabilities

MFAT on behalf of the Crown also has an unquantifiable contingent liability for site restoration costs at Scott Base Antarctica should New Zealand withdraw from the Antarctic programme (2012: unquantifiable).

Contingent assets

MFAT on behalf of the Crown has no contingent assets (30 June 2012: nil).

The accompanying accounting policies and notes are an integral part of these statements and schedules. These non-departmental balances are consolidated into the financial statements of the Government and therefore readers of these statements and schedules should also refer to the financial statements of the Government for 2012/13.

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