financial overview
The Ministry’s departmental expenditure for the 2004/05 financial year was $12.3 million below budget. This under spend was due largely to:
$ million |
a) lower expenditure on fisheries research projects. Approval has been given ‘in principle’ to carry forward $2.4 million into the 2005/06 financial year |
4.7 |
b) lower expenditure on projects related to the New Zealand Biodiversity Strategy. Approval has been given 'in principle to carry foward $1.3 million into the 2005/06 financial year |
2.0 |
c) lower-than-budgeted time spent processing aquaculture permit applications pending receipt of additional information |
1.3 |
d) lower-than-budgeted observer activity |
0.9 |
e) lower ministerial servicing costs |
0.9 |
f) lower registry services costs |
0.9 |
g) lower litigation costs |
0.6 |
Revenue Profile (inclusive of Crown activities)
This shows the actual revenue flows from external sources to the Ministry and the Crown for the fiscal years 2003, 2004 and 2005.
Departmental charges.
2003 |
2004 |
2005 |
Actual |
Actual |
Actual |
$000 |
$000 |
$000 |
Transhipment and observer charges |
1,543 |
1,280 |
774 |
Boat registration and permit fees |
274 |
166 |
148 |
Marine farming, licence fees, transfer and lease fees |
566 |
515 |
90 |
Gain on sale of property, plant and equipment |
85 |
29 |
36 |
Recovery of State Sector Retirement |
0 |
0 |
391 |
Savings Scheme costs |
|
|
|
Other |
40 |
275 |
203 |
Total |
2,508 |
2,265 |
1,642 |
Crown Revenue.
2003 |
2004 |
2005 |
Actual |
Actual |
Actual |
$000 |
$000 |
$000 |
Cost recovery levies |
|
|
|
– General |
31,325 |
21,867 |
29,907 |
– Department of Conservation |
2,651 |
2,060 |
2,110 |
– Crown-owned quota |
119 |
125 |
10 |
Deemed value charges |
24,260 |
3,542 |
10,648 |
| Sale of quota shares and ACE |
327 |
76 |
2,307 |
Forteitures and redemptions |
1,335 |
1,058 |
388 |
Infringement notices |
388 |
332 |
243 |
Interest |
1,726 |
1,284 |
219 |
Other |
443 |
931 |
172 |
Total |
62,574 |
31,275 |
46,004 |
Total revenue Departmental and Crown |
65,082 |
33,540 |
47,646 |
ASSET MANAGEMENT
Departmental Property, Plant and Equipment - Net Book Value at 30 June 2005
13% |
|
Buildings |
7% |
|
Plant and Equipment excluding computer hardware and software |
6% |
|
Computer Hardware |
24% |
|
Computer Software |
3% |
|
WIP |
7% |
|
Vessels |
28% |
|
Motor Vehicles |
10% |
|
Leasehold Improvements |
2% |
|
Land |
Capital Expenditure Programme
The level of capital expenditure incurred in 2004/05 has been relatively consistent with the previous two financial years as can be seen from the adjacent table.
Capital Expenditure.
2003 |
2004 |
2005 |
Actual |
Actual |
Actual |
$000 |
$000 |
$000 |
| Buildings and leasehold improvements |
273 |
445 |
246 |
| Office plant and equipment including computer equipment |
972 |
751 |
723 |
| Motor vehicles |
732 |
664 |
1,105 |
| Vessels |
118 |
3 |
118 |
Total |
2,095 |
1,863 |
2,192 |
Asset management planning is important to the Ministry to ensure effective and efficient delivery of service. During the year the Ministry made further progress in its asset management planning by commencing to develop a five-year capital plan including system infrastructure replacement planning.
Departmental Working Capital Management.
| |
2003 |
2004 |
2005 |
| |
Actual |
Actual |
Actual |
| |
$000 |
$000 |
$000 |
|
| Net Current Assets ($000) |
1,182 |
2,175 |
3,049 |
| Liquid Ratio |
1.27:1 |
1.59:1 |
1.76:1 |
| Current Ratio |
1.06:1 |
1.15:1 |
1.14:1 |
Net current assets = current assets less current liabilities.
Liquid ratio = total cash (including debtor: Crown funding) divided by creditors and payables.
Current ratio = total current assets divided by total current liabilities.