Statement of Forecast Financial Performance for the year ending 30 June 2008
In this section...
- Statement of Intent Homepage 2007/08
- Minister's foreword
- Chief Executive's overview
- Statement of responsibility
- Strategic direction
- Forecast financial statements
- Forecast Financial Statements
- Forecast Financial Performance
- Forecast Financial Position
- Forecast Cash Flows
- Forecast Net Surplus
- Forecast Movements
- Forecast Details of Fixed Assets
- Forecast of Memorandum Account
- Departmental Capital Expenditure
- Notes to and Forming Part of the Forecast Financial Statements
- Statement of Forecast Service Performance
- LINZ's Output Plan 2007/2008
- LINZ as an agent of the Crown
- Forecast Financial Statements
- Appendices
- Contact details
| 2006/07 Budgeted2 $000 |
2006/07 Estimated Actual $000 |
2007/08 Forecast3 $000 |
|
|---|---|---|---|
| Revenue | |||
| Crown | 46,764 | 46,764 | 62,793 |
| Other | 49,252 | 49,252 | 52,140 |
| Total revenue | 96,016 | 96,016 | 114,933 |
| Expenses | |||
| Personnel | 49,190 | 49,190 | 31,569 |
| Rental and leasing | 3,768 | 3,768 | 3,769 |
| Audit fees | 139 | 139 | 139 |
| Other operating | 53,600 | 53,600 | 76,977 |
| Depreciation | 9,359 | 9,359 | 13,086 |
| Capital charge | 3,607 | 3,607 | 2,956 |
| Total expenses | 119,663 | 119,663 | 128,496 |
| Net surplus/(deficit) | (23,647) | (23,647) | (13,563) |
The accompanying accounting policies and notes form part of these financial statements.
2 This column incorporates both Main and Supplementary Estimates appropriations (excluding GST) for 2006/07.
3 LINZ is forecasting a loss of $13.563 million for 2007/08. LINZ runs a Memorandum Account to manage surpluses and deficits incurred across years in the provision of its land title and survey products and services. The Memorandum Account balance is forecast to be $24.345 million at 30 June 2007. This balance is due in part to a levy put in place between 1999 and 2003 during the development of the Landonline system with the remainder being due to higher than expected transaction volumes in recent years. The deficit to be incurred in 2007/08 will reduce the level of the Memorandum Account.
