About us
Part 3: Forecast financial highlights for 2008/09
The Corporation manages a portfolio of more than 68,000 houses, which is expected to grow by 650 units in 2008/09. The owned portion of this portfolio is currently valued at $15 billion.
In 2008/09, the Corporation expects to receive $918 million in total income consisting of:
- $877 million in rental income from tenants and the Crown
- $31 million (GST exclusive) in other operational funding
- $10 million in interest and other income.
The Corporation expects to spend $867 million in total expenses as follows:
- $133 million on interest expense
- $734 million on other direct and indirect expenditure.
The Corporation expects to:
- make an operating surplus (before tax) of $51 million
- make a net surplus (after tax) of $25 million
- spend $321 million on asset purchases and improvements
- receive $31 million from asset sales
- receive $12 million from mortgage repayments
- issue loans of $43 million
- receive $2 million from other investing activities.
Investments will be financed by:
- $117 million from the Crown in debt and equity funding
- $211 million from operating activities.
