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About us

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• 2009-2010 Statement of Intent
• 2008-2009 Statement of Intent
• 2007-2008 Statement of Intent
  • Foreword: Board Chair
  • Chief Executive's overview
  • Part 1: Our three-year outlook - introduction
  • Part 1: The Government's strategic policy framework
  • Part 1: Operating environment
  • Part 1: Our business
  • Part 1: Outcomes framework
  • Part 1: The Corporation at a glance
  • Part 1: Managing for results
  • Part 1: Quality assurance, evaluation and risk management
  • Part 1: Partners and stakeholders
  • Part 2: Statement of responsibility
  • Part 2: Introduction - Forecast financial information
  • Part 2: Strategic priority one: Coordinate the Government's New Zealand Housing Strategy
  • Part 2: Strategic priority two: Demonstrate housing development best practice
  • Part 2: Strategic priority three: Ensure effective state housing stewardship
  • Part 2: Strategic priority four: Support community-based social housing initiatives
  • Part 2: Strategic priority five: Facilitate sustainable home ownership
  • Part 2: Output class appropriations
  • Part 2: Forecast financial performance, policies and statements
  • Part 2: Forecast financial statements
  • Footnotes

About us

Part 2: Introduction - Forecast financial information

Part two presents the Corporation's financial information, descriptions of our five strategic priorities and information that helps to explain how we use our resources to produce our activities (products).

It has two sections.

Forecast service performance: This sets out our strategic priorities and performance measures.

Forecast financial performance, policies and statements: This explains our financial structure, significant underlying assumptions and accounting policies, forecast financial performance and statements.

Forecast financial information highlights:

We manage a portfolio of more than 66,000 homes, which is expected to grow by a net 815 units in 2006/07. The owned portion of this portfolio is our major asset and is currently valued at $11.5 billion.

In 2006/07, the Corporation expects to receive $812.2 million in total income.

• $767.2 million from rental income from tenants and the Crown
• $32.4 million (GST exclusive) in other operational funding
• $12.6 million from interest income The Corporation expects to spend $733.3 million in total expense.
• $128.7 million on interest expense
• $604.6 million on other direct and indirect expenditure

The Corporation expects to:

• make an operating surplus of $78.9 million before tax
• make income tax payments of $59.4 million
• make a net surplus of $19.5 million
• spend $339.8 million on asset purchases and improvements
• receive $8.8 million from asset sales
• issue loans of $26.4 million
• receive $2.8 million from other investing activities.

Investments will be financed by:

• $474.6 million from the Crown in debt and equity funding
• $189.9 million from operating activities

Less:

• return dividend of $10 million to the Crown
• repayment of $299.9 million of non-Crown debt.

Forecast service performance

The Corporation has five strategic priorities. Each has specific activities with performance measures and targets. We will assess our performance at the end of the financial year by comparing the actual work produced against the targets set.

The Corporation's strategic priorities for the year ending 30 June 2007 and their associated revenue, expenses and surplus or deficit are summarised in the table below.

Table 6: STRATEGIC PRIORITIES: OPERATING REVENUE, EXPENSES AND SURPLUS/(DEFICIT)