Crown research institutes show small surplus
Crown research institutes show small surplus – Media release
6 December 2013
Crown research institutes’ operating surplus was $24.1 million in the year ended 30 June 2013, StatisticsNew Zealand said today. Their operating surplus was $6.1 million smaller than in the year ended June 2012, when income exceeded spending by $30.2 million.
After allowing for valuation gains and losses, payment of dividend, profits and losses on sales of fixed assets, and income tax, Crown research institutes recorded a total comprehensive income (a bottom line) of $26.0 million. This surplus is $2.1 million greater than in 2012.
Crown research institutes’ operating income (funding earned to provide core services) increased 2.0 percent compared with the year ended June 2012, to $709.6 million. Spending on core services rose 3.1 percent to $685.5 million. The largest contributor to the increase in operating income was government revenue, which increased by $11.2 million. The ‘other expenses’ category (which includes donations and royalties) was up $41.6 million, and was the largest contributor to the increase in operating expenses.
Liabilities increased 9.3 percent, to $224.7 million at 30 June 2013. Total assets increased 3.5 percent, to $757.8 million. Total equity (difference between assets and liabilities) increased 1.3 percent, up $6.6 million.