Note 3: Operating Costs
| Actual | Actual | |
|---|---|---|
| June 2004 | June 2005 | |
| $(000) | $(000) | |
| 126 | Audit fees for audit of financial statements | 139 |
| - | Audit fees for other services provided | 35 |
| 2,845 | Consulting | 3,057 |
| - | Finance lease interest costs | 279 |
| 8,004 | Operating lease rentals | 7,823 |
| 168 | Bad debts written-off | 32 |
| - | Fixed asset write-offs | 475 |
| (139) | Increase/(decrease) in provision for doubtful debts | 230 |
| 90,784 | Other operating costs | 88,404 |
| 101,788 | Total operating costs | 100,474 |
Fixed asset write-offs relate to leasehold improvements on surplus accommodation.
Note 4: Depreciation
| Actual | Actual | |
|---|---|---|
| June 2004 | June 2005 | |
| $(000) | $(000) | |
| 40 | Buildings | 39 |
| 382 | Leasehold improvements | 439 |
| 1,571 | Plant and equipment | 3,313 |
| - | Leased plant and equipment | 2,439 |
| 1,042 | Motor vehicles | 1,130 |
| 3,035 | Total depreciation | 7,360 |
The Ministry recognised plant and equipment rented under finance leases as assets for the first time as at 30 June 2004. Accordingly this is the first year there has been a depreciation charge on leased plant and equipment.
Note 5: Capital Charge
The Ministry pays a capital charge to the Crown on its taxpayers' funds as at 30 June and 31 December each year. The capital charge rate for the year ended 30 June 2005 was 8 percent (2004, 8.5 percent).
Note 6: Other Expenses
| Actual | Actual | |
|---|---|---|
| June 2004 | June 2005 | |
| $(000) | $(000) | |
| 19 | Restructuring expenses | (66) |
| 19 | Total other expenses | (66) |
Negative expenditure is due to the reversal of an unused amount accrued for restructuring costs in past years.
Contact for Enquiries
Strategy and Performance Group
Ministry of Agriculture and Forestry
Pastoral House
25 The Terrace
PO Box 2526, Wellington
Tel: +64 4 894 0100
Fax: +64 4 894 0738
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