Summary of financial performance
Our full financial statements and accompanying notes are set out later in this report. We made a $963,000 operating surplus, as summarised below.
| Actual 2022 $000 |
Budget 2022 $000 |
Actual 2021 $000 |
|
|---|---|---|---|
|
Financial performance |
|||
|
Revenue |
|||
|
Revenue from the Crown |
5,930 |
5,930 |
5,030 |
|
All other revenue |
57 |
2 |
141 |
|
Total revenue |
5,987 |
5,932 |
5,171 |
|
|
|||
|
Expenses |
|||
|
Personnel costs |
3,399 |
3,987 |
3,050 |
|
All other expenses |
1,625 |
1,845 |
1,143 |
|
Total expenses |
5,024 |
5,832 |
4,193 |
|
Net surplus/(deficit) |
963 |
100 |
978 |
|
|
|||
|
Financial position |
|||
|
Assets |
|||
|
Total current assets |
3,540 |
2,511 |
2,444 |
|
Total non-current assets |
92 |
77 |
100 |
|
Total assets |
3,632 |
2,588 |
2,544 |
|
|
|||
|
Liabilities |
|||
|
Total current liabilities |
505 |
563 |
373 |
|
Total non-current liabilities |
98 |
87 |
105 |
|
Total liabilities |
603 |
650 |
478 |
|
Total equity |
3,029 |
1,938 |
2,066 |
Output funding and costs
The Commission’s summary of output funding and costs include the direct and indirect costs associated with delivering our core services: inquiries, research and promoting understanding. Dividing our funding in this way allows the Government to determine, at a high level, the mix of our work.
| Actual 2022 $000 |
Budget 2022 $000 |
Actual 2021 $000 |
|
|---|---|---|---|
|
Inquiries |
|||
|
Revenue from the Crown* |
5,189 |
5,190 |
4,401 |
|
Other revenue |
50 |
- |
123 |
|
Total revenue |
5,239 |
5,190 |
4,524 |
|
Expenses |
(4,550) |
(5,103) |
(3,678) |
|
Net surplus/(deficit) |
689 |
87 |
846 |
|
|
|||
|
Research and promoting understanding |
|||
|
Revenue from the Crown* |
741 |
742 |
629 |
|
Other revenue |
7 |
- |
18 |
|
Total revenue |
748 |
742 |
647 |
|
Expenses |
(474) |
(729) |
(515) |
|
Net surplus/(deficit) |
274 |
13 |
132 |
|
|
|||
|
Total outputs |
|||
|
Revenue from the Crown* |
5,930 |
5,932 |
5,030 |
|
Other revenue |
57 |
- |
141 |
|
Total revenue |
5,987 |
5,932 |
5,171 |
|
Expenses |
(5,024) |
(5,832) |
(4,193) |
|
Net surplus/(deficit) |
963 |
100 |
978 |
* Revenue from the Crown represents the appropriation received by the Commission and equals the Government’s actual expenses incurred in relation to the appropriation, which is a required disclosure from the Public Finance Act.
End of year reporting requirements as per the Estimates of Appropriations 2021–22 (Finance and Government Administration Sector)
The Commission receives funding from the appropriation ‘Inquiries and Research into Productivity-Related Matters’ under Vote Finance. The Commission’s appropriation is limited to the undertaking of inquiries, and promoting public understanding of, productivity-related matters by the New Zealand Productivity Commission in accordance with the New Zealand Productivity Commission Act 2010.
|
Assessment of performance |
2021–22 |
2021–22 Actual |
|---|---|---|
|
Inquiry participants’ feedback (via survey) on whether the inquiry helped set or lift the standard in New Zealand for high quality analysis and advice on the topic. |
Maintained or improved |
As reported in the Statement of Performance impact measure “Levels of engagement and response with the Commission’s work increase.” |
|
Inquiry participants’ feedback (via survey) on whether the inquiry has increased their understanding of the topic. |
Maintained or improved |
As reported in the Statement of Performance impact measure “Policies and behaviours change as a result of the Commission’s work.” |
|
Successful completion of an annual benchmarking exercise to track New Zealand’s productivity performance. |
Achieved |
Benchmarking completed. Results are included in pages 18–45. |
|
Successful completion of a biannual evaluation of the quality of our research and analysis. |
Maintained or improved |
Completed – see pages 18–45 for details. Results are included through pages 18–45. |