Crown Research Institute Statistics: Year ended 30 June 2005
10:45am — 8 December 2005
Crown Research Institute Income Increases
New Zealand's nine Crown Research Institutes (CRIs) received total income of $548.6 million in the year ended 30 June
2005, Statistics New Zealand said today. This was an increase of $16.4 million compared with the June 2004 year. The
CRIs received $271.2 million in government funding for the year, an increase of $6 million on the previous June year,
and earned $263.8 million in sales, an increase of $7 million (2.7 percent).
Rises were also recorded in the levels of interest revenue and all other income, which increased by $1.2 million and
$2.1 million, respectively.
Total CRI operating costs increased by $13.4 million to reach $532.6 million for the year ended 30 June 2005. The main
contributor to this increase was all other expenses, and in particular other operating costs, which increased $12.3
million to reach $226.5 million. Employee costs increased $1.5 million (0.6 percent) in the latest June year, while
interest paid rose from $2.2 million to $3.1 million. Depreciation decreased by $1.2 million.
The surplus before tax and non-operating items for the nine CRIs was $16.0 million for the year ended 30 June 2005, an
increase of $3.0 million compared with the previous year. After tax and non-operating items, the CRIs recorded a
provisional $13.3 million surplus. This was equivalent to the June 2004 year. Taxpayers' equity in the CRIs rose to
$320.1 million at 30 June 2005, up from $317.8 million for the previous June year. This surpasses the previous high of
$319.2 million recorded for the June 2001 year. Liabilities at 30 June 2005 totalled $151.9 million, up $2.6 million
from the level at 30 June 2004. Current liabilities were $113.1 million and long-term liabilities were $38.8 million. @
The value of total assets at 30 June 2005 was $472.1 million, $5 million more than the value recorded a year earlier.
This was mainly the result of a $16.0 million increase in the level of investments, and current assets rising by $2.5
million. This increase was largely offset by fixed assets and other assets decreasing by $11.2 million and $2.3 million,
respectively.
Brian Pink
Government Statistician
ENDS