Non-departmental schedules and statements
The following non-departmental schedules and statements record the income, expenses, assets, liabilities, commitments, contingent liabilities and contingent assets that the Department manages on behalf of the Crown.
Schedule of non-departmental revenue and receipts
for the year ended 30 June 2008
Actual
2007 $000 |
|
Note |
Actual
2008
$000 |
Main
Estimates 2008
$000 |
Supplementary
Estimates
2008
$000 |
| |
Non-tax revenue |
| 115,163 |
Interest on Housing New Zealand Corporation loans |
|
151,764 |
130,980 |
151,942 |
| 20,211 |
Dividend from Housing New Zealand Corporation |
|
12,999 |
7,356 |
12,999 |
| - |
Services to support homeownership |
|
- |
- |
224 |
| 135,374 |
Total non-tax revenue |
2 |
164,763 |
138,336 |
165,165 |
Statement of non-Departmental expenditure and capital expenditure against appropriations
for the year ended 30 June 2008
Actual
2007
$000 |
|
Note |
Actual
2008
$000 |
Main
Estimates
2008
$000 |
Supplementary
Estimates
2008
$000 |
| |
Non-departmental output expenses |
| 9,604 |
Contracted Housing Support Services |
|
11,029 |
12,072 |
11,571 |
| 9,198 |
HNZC Housing Support Services |
|
10,472 |
13,913 |
13,936 |
| 3,315 |
Housing Policy Advice |
|
2,416 |
2,509 |
2,419 |
| - |
Administration of Crown Properties - Housing Act 1955 |
|
69 |
- |
1,247 |
| 22,117 |
Total non-departmental output expenses |
|
23,986 |
28,494 |
29,173 |
| |
Benefits and other unrequited expenses |
| 6,439 |
Housing Assistance |
|
8,943 |
9,740 |
9,740 |
| 433,932 |
Income-Related Rental Subsidy |
|
465,165 |
465,380 |
463,363 |
| 440,371 |
Total benefits and other unrequited expenses |
|
474,108 |
475,120 |
473,103 |
| |
Other expenses to be incurred by the Crown |
| 4,145 |
Community Housing Rent Relief Programme |
|
4,000 |
4,500 |
4,000 |
| 1,430 |
Increase in debt provision |
|
1,767 |
1,807 |
1,807 |
| 5,575 |
Total other expenses to be incurred by the Crown |
|
5,767 |
6,307 |
5,807 |
| |
Capital expenditure |
| 259,342 |
Housing New Zealand Corporation (HNZC) - Loans to refinance third party debt |
|
131,187 |
131,187 |
131,187 |
| 188,193 |
Capital injections to Housing New Zealand Corporation for housing activities |
|
89,048 |
111,168 |
102,417 |
| - |
Housing New Zealand Corporation (HNZC) - Loans to refinance Crown debt |
|
40,000 |
40,000 |
40,000 |
| - |
Housing New Zealand Limited (HNZL) - Loans to refinance Crown debt |
|
50,000 |
50,000 |
50,000 |
| - |
Acquisitions and developments under Housing Act 1955 |
|
10,561 |
- |
11,945 |
| 447,535 |
Total capital expenditure |
|
320,796 |
332,355 |
335,549 |
| 915,598 |
Total non-departmental expenditure and appropriations |
3 |
824,657 |
842,276 |
843,632 |
Schedule of non-departmental assets
as at 30 June 2008
Actual
2007
$000 |
Note |
Actual
2008
$000 |
Main
Estimates
2008
$000 |
Supplementary
Estimates
2008
$000 |
| |
Current assets |
| 13,392 |
Cash and cash equivalents |
|
3,996 |
500 |
28,053 |
| 11,437 |
Receivables and prepayments |
4 |
12,396 |
9,252 |
9,252 |
| 34 |
Assets held for sale |
|
34 |
- |
- |
| 24,863 |
Total current assets |
|
16,426 |
9,752 |
37,305 |
| |
Non-current assets |
| 70,492 |
Investments |
5 |
- |
- |
- |
| 97,844 |
Physical assets |
|
98,631 |
85,920 |
98,000 |
| 168,336 |
Total non-current assets |
|
98,631 |
85,920 |
98,000 |
| 193,199 |
Total assets |
6 |
115,057 |
95,672 |
135,305 |
Schedule of non-departmental liabilities
as at 30 June 2008
Actual
2007
$000 |
Note |
Actual
2008
$000 |
Main
Estimates
2008
$000 |
Supplementary
Estimates
2008
$000 |
| |
Current liabilities |
| 82,026 |
Payables |
7 |
12,012 |
71,497 |
73,904 |
| 82,026 |
Total current liabilities |
|
12,012 |
71,497 |
73,904 |
| |
Term liabilities |
| 16,492 |
Payables |
7 |
- |
17,624 |
17,624 |
| 16,492 |
Total term liabilities |
|
- |
17,624 |
17,624 |
| 98,518 |
Total liabilities |
|
12,012 |
89,121 |
91,528 |
Statement of commitments
as at 30 June 2008
The Department reports nil non-departmental commitments as at 30 June 2008 (2007: nil)
Statement of contingent liabilities
as at 30 June 2008
Actual
2007
$000 |
Actual
2008
$000 |
| 900 |
Properties underwritten for Home Equity Scheme |
900 |
| 900 |
Total contingent liabilities |
900 |
Housing New Zealand Corporation has a contingent liability on properties underwritten for the Home Equity Scheme, a community-based home ownership programme. In the event of an actual liability the Corporation will use its acquisition budget to discharge the responsibility which is expected to have no material effect on the Corporation's financial position.
Unquantifiable contingent liabilities
Housing New Zealand Corporation is liable to the owners (ANZ National Bank Limited, Ichthus Limited and Westpac Banking Corporation) of mortgages sold by the Corporation during 1992 to 1999 for certain losses they may incur from specified limited aspects of their ownerships of those mortgages. The amount of the liability cannot be estimated.
Contingent assets
The Department on behalf of the Crown has no contingent assets (2007: nil).