22. Explanation of Financial Variances from Budget
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
Revenue Crown
Revenue Crown is under budget by $5.287 million. The variance is the net result of approved Crown funded expenditure carry forwards to 2008/09 and 2009/10, and under spends in Revenue Crown funded outputs.
Revenue other
Revenue other is under budget by $13.550 million. This is due to a reduction in transaction volumes caused by the property market downturn during the 2008/09 year.
Other operating expenses
Other operating expenses are under budget by $7.678 million. This is partly due to unspent funds for projects and programmes for which expenditure has been approved to carry forward to 2009/10. The most significant of the under spends is with the Transpower North Island Grid Upgrade project. In addition, funding of $3.400 million was returned as savings to contribute to the Government's value for money review.
