2. Budget Composition
In this section...
- Annual Report 2008/09 homepage
- Chief Executive's overview
- Strategic context 2008/2009
- LINZ's performance 2008/2009
- Financial statements
- LINZ information
- Appendix
| 2009 Main Estimates $000 |
2009 Supp. Estimates changes $000 |
2009 Budget total $000 |
|
|---|---|---|---|
| Income | |||
| Revenue Crown | 57,308 | (3,719) | 53,589 |
| Revenue other | 53,428 | (13,343) | 40,085 |
| Total income | 110,736 | (17,062) | 93,674 |
| Expenditure | |||
| Depreciation and amortisation | 8,268 | (604) | 7,664 |
| Capital charge | 2,956 | (38) | 2,918 |
| Restructuring costs | – | 24 | 24 |
| Other operating expenses | 110,132 | (4,426) | 105,706 |
| Total expenditure | 121,356 | (5,044) | 116,312 |
| Net surplus/(deficit) | (10,620) | (12,018) | (22,638) |
Explanations of major changes in the Supplementary Estimates:
Revenue Crown
Revenue Crown was reduced in line with the net reduction in Revenue Crown-funded expenses, as described below.
Revenue other
Revenue other was reforecast based on an updated estimate of transaction volumes. LINZ transaction volumes are directly related to the level of activity in the property market, and the reduction in forecast for 2008/09 reflects the current cyclical downturn.
Total expenditure
The decrease is the net result of:
- expense transfers into 2008/09, primarily for land tenure reform and the 100% e-lodgement project, of $6.300 million
- expense transfers from 2008/09 to 2009/10, primarily for the Transpower project, of $10.100 million
- new funding, being funding carried back for the 100% e-lodgement project, and the New Zealand Geographic Board, of $2.100 million, and
- savings offered back to the Government of $3.400 million.
