3 December 2007
Surplus for Crown research institutes
New Zealand's nine Crown research institutes (CRIs) reported a collective operating surplus of $16.7 million in the
year ended June 2007, Statistics New Zealand said today. Lower net income from profit on sale of fixed assets and
extraordinary items resulted in a decline in CRI collective surplus before taxation when compared with the year ended 30
June 2006. This surplus fell from $27.6 million to $23.3 million.
Total operating income increased $27.7 million to $600.7 million in the year to 30 June 2007. CRIs received $303.6
million in government funding for the year (representing a $20.0 million increase on the previous June year) and earned
$279.1 million in sales (up $11.4 million). In contrast, interest revenue and all other income declined between 2006 and
2007.
Total CRI operating expenses increased $14.6 million to reach $584.0 million in the year ended 30 June 2007. Employee
costs totalled $289.8 million (up $6.4 million) while all other expenses were $250.1 million (up $8.5 million).
Depreciation and interest paid both declined marginally.
Taxpayers' equity in the CRIs rose to $346.3 million at 30 June 2007, up from $323.7 million at 30 June 2006. Current
and long-term liabilities totalled $175.0 million at 30 June 2007, up $17.3 million from the previous year. Current
liabilities totalled $118.1 million (down $3.7 million) while long-term liabilities totalled $56.9 million (up $21.0
million).
The value of total assets at 30 June 2007 was $521.3 million, $39.9 million more than the value at 30 June 2006. The
value of fixed assets increased $25.6 million to $337.4 million, while the value of investments rose $17.3 million to
$22.7 million. Geoff Bascand Government Statistician
ENDS