Annual Report for the year ended 30 June 2002
Departmental operations (continued)
Statement of financial performance
For the year ended 30 June 2002
| Note | 30/6/2001 Actual $000 | 30/6/2002 Actual $000 |
30/6/2002 Main estimates $000 |
30/6/2002 Supp. estimates $000 |
|
|---|---|---|---|---|---|
| Revenue | |||||
| Crown | 2 | 8,305 | 8,103 | 8,321 | 8,103 |
| Other | 3 | 11 | 1,081 | - | 1,114 |
| Interest | 5 | 61 | 14 | 30 | 15 |
| Total revenue | 8,377 | 9,198 | 8,351 | 9,232 | |
| Expenditure | |||||
| Personnel costs | 6 | 3,843 | 3,716 | 4,371 | 4,371 |
| Operating costs | 7 | 3,474 | 4,289 | 3,329 | 4,356 |
| Depreciation | 8 | 359 | 295 | 481 | 350 |
| Capital charge | 9 | 156 | 140 | 140 | 140 |
| Total expenses | 7,832 | 8,440 | 8,321 | 9,217 | |
| Net operating surplus | 545 | 758 | 30 | 15 |
Statement of movements in taxpayers' funds
For the year ended 30 June 2002
| 30/6/2001 Actual $000 | 30/6/2002 Actual $000 |
30/6/2002 Main estimates $000 |
30/6/2002 Supp. estimates $000 |
|
|---|---|---|---|---|
| Taxpayers' funds brought forward as at 1 July | 1,555 | 1,555 | 1,555 | 1,555 |
| Net operating surplus/(deficit) | 545 | 758 | 30 | 15 |
| Total recognised revenues and expenses for the year | 545 | 758 | 30 | 15 |
| Provision for repayment of surplus to the Crown | (545) | (758) | (30) | (15) |
| Taxpayers' funds as at 30 June | 1,555 | 1,555 | 1,555 | 1,555 |
Statement of financial position
As at 30 June 2002
| Note | 30/6/2001 Actual $000 | 30/6/2002 Actual $000 |
30/6/2002 Main estimates $000 |
30/6/2002 Supp. estimates $000 |
|
|---|---|---|---|---|---|
| Taxpayer's funds | |||||
| Taxpayer's funds | 1,555 | 1,555 | 1,555 | 1,555 | |
| Total taxpayer's funds | 1,555 | 1,555 | 1,555 | 1,555 | |
| Represented by: Current assets | |||||
| Cash | 275 | 1,711 | 94 | 1,572 | |
| Short-term deposits | 10 | 2,000 | - | 1,200 | - |
| 2,275 | 1,711 | 1,294 | 1,572 | ||
| Prepayments | 38 | 37 | 14 | 14 | |
| Debtors and receivables | 11 | 54 | 1,286 | 2 | 2 |
| Total current assets | 2,367 | 3,034 | 1,310 | 1,588 | |
| Non current assets | |||||
| Fixed assets | 12 | 660 | 666 | 933 | 640 |
| Total non-current assets | 660 | 666 | 933 | 640 | |
| Total assets | 3,027 | 3,700 | 2,243 | 2,228 | |
| Current liabilities | |||||
| Creditors and payables | 13 | 582 | 1,034 | 335 | 335 |
| Provision for repayment of surplus to the Crown | 545 | 758 | 30 | 15 | |
| Provision for employee entitlements | 14 | 209 | 187 | 200 | 200 |
| Total current liabilities | 1,336 | 1,979 | 565 | 550 | |
| Non-current liabilities | |||||
| Provision for employee entitlements | 14 | 136 | 166 | 123 | 123 |
| Total liabilities | 1,472 | 2,145 | 688 | 673 | |
| Net assets | 1,555 | 1,555 | 1,555 | 1,555 |
Statement of cash flows
For the year ended 30 June 2002
| 30/6/2001 Actual $000 | 30/6/2002 Actual $000 |
30/6/2002 Main estimates $000 |
30/6/2002 Supp. estimates $000 |
|
|---|---|---|---|---|
| Cash flows - operating activities Cash provided from: Supply outputs to |
||||
| Crown | 8,305 | 8,103 | 8,321 | 8,103 |
| Customers | 1 | - | - | 1,114 |
| Interest | 61 | 14 | 30 | 15 |
| 8,367 | 8,117 | 8,351 | 9,232 | |
| Cash disbursed to: Produce outputs |
||||
| Personnel | (3,814) | (3,718) | (4,371) | (4,371) |
| Operating | (3,102) | (4,138) | (3,329) | (4,549) |
| Net GST paid | (75) | 140 | - | - |
| Capital charge | (156) | (140) | (140) | (140) |
| (7,147) | (7,856) | (7,840) | (9,060) | |
| Operating activities net cash flows | 1,220 | 261 | 511 | 172 |
| Cash flows - investing activities Cash provided from: |
||||
| Sale of fixed assets | 55 | 23 | 37 | 20 |
| Cash disbursed for: |
||||
| Purchase of fixed assets | (327) | (303) | (500) | (350) |
| Investing activities net cash flows | (272) | (280) | (463) | (330) |
| Cash flows - financing activities Cash disbursed for: |
||||
| Repayment of surplus | (505) | (545) | (58) | (545) |
| Financing activities net cash flows | (505) | (545) | (58) | (545) |
| Net increase/(decrease) in cash held |
443 | (564) | (10) | (703) |
| Add opening cash and deposits |
1,832 | 2,275 | 1,304 | 2,275 |
| Closing cash and deposits | 2,275 | 1,711 | 1,294 | 1,572 |
Reconciliation of net operating surplus to net cash flow from operating activities
For the year ended 30 June 2002
| 30/6/2001 Actual $000 | 30/6/2002 Actual $000 |
30/6/2002 Main estimates $000 |
30/6/2002 Supp. estimates $000 |
|
|---|---|---|---|---|
| Net operating surplus/(deficit) | 545 | 758 | 30 | 15 |
| Add/(Less) non-cash items |
||||
| Depreciation | 359 | 295 | 481 | 350 |
| Inc/(Dec) in non-current employee entitlements | - | 30 | - | - |
| Reclassification of fixed assets | 121 | - | - | - |
| Total non-cash items | 480 | 325 | 481 | 350 |
| Working capital movements |
||||
| (Inc)/Dec in debtors and receivables | (20) | (1,232) | - | 52 |
| (Inc)/Dec in prepayments | 70 | - | - | 24 |
| Inc/(Dec) in creditors and payables | 169 | 440 | - | (247) |
| Inc/(Dec) in current employee entitlements | (16) | (22) | - | (22) |
| Working capital movements - net |
203 | (814) | - | (193) |
| Add/(Less) investing activity items | ||||
| (Gain)/Loss on sale of fixed assets (Note 4) | (8) | (8) | - | - |
| Total investing activity items | (8) | (8) | - | - |
| Net cash flow from operating activities | 1,220 | 261 | 511 | 172 |
Statement of commitments
As at 30 June 2002
The Ministry charges initial project costs for the acquisition of defence equipment, up to the time of final approval to commit, as a departmental operating cost in Output Class D3 – Management of Equipment Procurement.
The amount disclosed below as a future commitment is based on the foreign exchange forward contract rate which covers the exposure.
| 30/6/2001 Actual $000 | 30/6/2002 |
|
|---|---|---|
| C-130 aircraft Life of Type Study |
||
| Less than one year | - | 1,424 |
There were no commitments at 30 June 2001.
Statement of contingent liabilities
As at 30 June 2002
No guarantees and indemnities have been given outside the normal course of business (30 June 2001 = nil).
There are no claims against the Ministry at balance date (30 June 2001 = nil).
Statement of unappropriated expenditure
For the year ended 30 June 2002
No expenditure has been made or costs incurred in excess of or without appropriation by Parliament. (There was no unappropriated expenditure at 30 June 2001.)
Statement of departmental expenditure and appropriations
For the year ended 30 June 2002
(Figures are GST incluseve where applicable)
30/6/2002 |
30/6/2002 Appropriation voted $000 | |
|---|---|---|
| Vote: Defence Appropriations for classes of outputs |
||
| D1-Policy advice | 3,294 | 3,505 |
| D2-Audit and assessment of performance |
1,764 | 2,080 |
| D3-Management of equipment procurement |
4,534 | 4,784 |
| Total |
9,592 | 10,369 |
The accompanying accounting policies and notes form part of these financial statements.
