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Forecast financial statement
Forecast Financial Performance
For the year ended 30 June 2007 (excl. GST)
| Notes | 30 June 2007 $ |
|
| Income Government grant Other income Interest |
1 |
6,432,667 83,056 65,967 |
| Total income | 6,581,690 | |
| Expenditure Education 2007 review Research Retirement villages Schools and curriculum Workplace education programme Te Puni Kokiri/Ngai Tahu Administration Audit fee Depreciation Rent Leasing Personnel |
2,365,556 250,000 50,000 225,000 197,000 3,496,000 83,056 188,172 12,900 28,227 62,400 10,000 633,198 |
|
| Subtotal | 7,601,509 | |
| Surplus/(deficit) for year | 2 | (1,019,819) |
Forecast Equity
For the year ended 30 June 2007 (excl. GST)
| 30 June 2007 $ |
|
| Equity at beginning of period Taxpayer funds Retained earnings |
200,000 1,056,249 |
| Surplus/(deficit) for year Equity at end of period Taxpayer funds Retained earnings |
1,256,249 (1,019,819) 200,000 36,430 |
| 236,430 |
Forecast Financial Position
For the year ended 30 June 2007 (excl. GST)
| 30 June 2007 $ |
|
| Total current assets Total non current assets |
744,486 92,342 |
| Total assets | 836,828 |
|
Total current liabilities |
600,398 - 236,430 |
| Total public equity & liabilities | 836,828 |
Forecast Cash Flows
For the year ended 30 June 2007 (excl. GST)
| 30 June 2007 $ |
|
| Cash flows from operating activities Cash will be provided from: Government grant and other sources Revenues from services Interest received Net GST |
6,432,667 |
|
Cash will be applied to: Payments to suppliers |
6,607,865
(7,599,430) |
|
Net cash flows/(outflows) from operating activities Cash flows from investing activities |
(7,599,430) (991,565) (8,016) |
| Net increase/(decrease) in cash held Plus opening cash balance |
(999,581)
1,597,786 |
| Closing cash balance | 598,205 |
NOTES
- This figure is less than the $6.527m (excl GST) in the Estimates of Appropriations as the cost of carrying out retirement villages activities is now less than initially provided for in the Appropriations.
- The deficit in the Forecast Financial Performance for the year ending 30 June 2007 will be funded out of the prior year retained surpluses.
