Cash flow statement for the year ended 30 June 2008

		Group	Group	Budget (Unaudited)	Parent	Parent
	Notes	2008 ($m)	2007 ($m)	2008 ($m)	2008 ($m)	2007 ($m)
Cash flows from/(used) in operating activities
Rent receipts - tenants		357	338	351	15	14
Rent receipts - income-related rent subsidy		476	440	483	4	4
Other receipts from the Crown		32	23	38	31	22
Interest received from customers and investments		10	8	7	9	8
Other receipts		4	7	2	131	112
Payments to suppliers and employees		(462)	(447)	(474)	(141)	(136)
Income tax paid		(66)	(54)	(66)	(1)	3
Interest paid		(129)	(126)	(133)	(16)	(14)
Net cash flows from operating activities	17	222	189	208	32	13
Cash flows from/(used) in investing activities
Sale of rental properties and management assets		29	16	23	15	16
Mortgage and other lending repayments		8	14	17	8	14
Loan to Housing Agency Account		40	(12)	0	40	(12)
Purchase of rental properties and management assets		(283)	(330)	(318)	(30)	(33)
Mortgage and other lending		(29)	(18)	(43)	(29)	(18)
Change in short-term investments		1	(10)	(2)	0	4
Advances (to)/from Group companies		0	0	0	47	0
Investment in subsidiaries		0	0	0	(105)	(119)
Net cash flows from investing activities		(234)	(340)	(323)	(54)	(148)
Cash flows from/(used) in financing activities
Capital contributions		99	149	102	99	149
Crown borrowings		153	301	21	6	6
Dividends paid	5	(13)	(20)	(10)	(13)	(20)
Other debt increase/(repayment)		(157)	(279)	2	0	0
Net cash flows from financing activities		82	151	115	92	135
Net cash flows		70	0	0	70	0
Opening cash and cash equivalents	6(a)	14	14	0	0	0
Closing cash and cash equivalents	6	84	14	0	70	0