Financial Summary
In 2004/2005 the Ministry expects to earn $53.838 million (GST exclusive) in revenue from the Crown and $42.133 million (GST exclusive) from other purchasers of the services it will supply under the 19 departmental output classes detailed in this report. The Ministry expects to incur expenses of $104.857 million (GST exclusive) in providing these services.
The Ministry expects to incur a deficit of $8.886 million in 2004/2005.
In addition, the Ministry administers the following non-departmental appropriations:
- output classes across six Votes (Commerce, Communications, Consumer Affairs, Energy, Economic, Industry and Regional Development, and Tourism) totalling $314.566 million for services supplied by the Commerce Commission, Securities Commission, Accounting Standards Review Board, Takeovers Panel, New Zealand Trade and Enterprise, Electricity Commission, New Zealand Citizen's Advice Bureau, local and national delivery organisations for economic, industry and regional development programmes, and New Zealand Tourism Board; and
- appropriations across five Votes (Commerce, Communications, Energy, Economic, Industry and Regional Development, and Tourism) totalling $100.540 million for regional development programme initiatives and grants, subscriptions and other expenses.
- a multi-year appropriation of $56.625 million for the three year period 2004/2005 - 2006/2007. The appropriation reflects the Crown's commitment to allow sufficient funding flexibility to maintain the momentum of the Regional Partnership Programme. The funding is to provide a fund to support and lift the capacity of regions in delivering economic development programmes and initiatives.
The Ministry is responsible for making payments for the services supplied within appropriation under non-departmental output classes and for other expenditures on behalf of the relevant Vote Ministers. Each non-departmental output class provider is directly accountable to the responsible Minister for its performance. The Ministry is responsible for managing and monitoring contracts with non-departmental output class providers, on behalf of the responsible Minister.
The Ministry expects to collect $165.887 million of Crown revenue in 2004/2005, with the major portion coming from energy resource levies and royalties.
Details of how the non-departmental appropriations will be applied appear in Parts B1, C2, D and E of Votes Commerce, Communications, Consumer Affairs, Energy, Economic, Industry and Regional Development, and Tourism, in the Estimates of Appropriations for the Government of New Zealand for the year ended 30 June 2005.
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