About us
Statement of Forecast Service Performance
Introduction
The Corporation has completed a fundamental review of the structure of its outputs and classes of outputs. The new structure is reflected in the following Statement of Forecast Service Performance.
In undertaking this review, the Corporation set out to develop an improved way of presenting its services that would: clearly present the nature, cost and other performance undertakings relating to the services the Corporation provides (transparency); cover all of the Corporation's external services (comprehensiveness); and be relatively stable from year to year, unless there were significant changes in its role and functions (stability). The Corporation is confident that it has achieved these aims.
The review is being undertaken in two stages with a new Output Class structure and improved performance information being introduced this year. The second stage will be completed for 2010/11 and, in addition to further improving the performance information for each Output Class, will involve a review of the structure of the appropriations that it receives from the Crown in order to improve the alignment between the two structures.
The change in the structure of the strategic priorities, which the Corporation used in 2008/09, is complex and no reconciliation of the two structures is provided. The Corporation's Output Classes for the year ending 30 June 2010 and their associated revenue, expenses and surplus or deficit are summarised in the table below.
Summary of output expenses
|
Output classes |
Revenue |
Revenue |
Total |
Surplus/ |
| Advisory Services |
2.560 |
- |
6.111 |
(3.551) |
| State House Tenancies |
537.951 |
382.739 |
825.530 |
95.160 |
| Policy Advice14 |
2.640 |
- |
11.707 |
(9.067) |
| Financial Assistance - Housing |
33.957 |
4.268 |
44.678 |
(6.453) |
| Property Management Agency Services15 |
- |
1.212 |
1.212 |
- |
| Net surplus before tax |
577.108 16 |
388.219 |
889.238 |
76.089 |
| Less tax |
30.134 | |||
| Net profit after tax |
45.955 |
14 The Policy Advice Output Class includes Policy, Operational Policy, Research and Evaluation and the Government Relations Unit.
15 The Corporation acts on behalf of the Crown in managing and developing certain Crown land. The operating costs reflect expenses incurred on behalf of the Crown. The revenue reimburses those expenses including a $90,000 management fee paid to the Corporation.
16 Revenue Crown for State House Tenancies uses the Corporation's own income-related rent forecast of $512 million. The appropriations table on page 75 has the current figure from the Estimates of Appropriations of $540 million. The difference is $28 million. This explains the difference between the Total Crown Revenue above ($577 million) and Total Operating Appropriations on page 75 ($605 million). The Corporation is forecasting lower growth in rental income than was assumed at the time the appropriation was reforecast. The rental income from the Income- Related Rent Subsidy shown on the income statement of $516 million on page 57, includes the Corporation's forecast of the Income-Related Rent Subsidy of $512 million plus Crown revenue from the Community Housing Rent Relief Programme.
