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Crown Entities Act 2004

Crown entity reporting and financial obligations - Reporting obligations - Reporting: annual report

153: Form and content of statement of performance

You could also call this:

"What a Crown entity did and how well it did it: a report on its performance"

Illustration for Crown Entities Act 2004

When you look at a statement of performance for a Crown entity, you will see it must follow standard accounting rules. It must describe what the entity did during the financial year, including each type of output it was responsible for. You will also see how well the entity did its job, and how much money it earned and spent, compared to what it expected.

The statement of performance will show how the entity's actual results compare to what it said it would do in its statement of performance expectations. This includes how well it delivered its outputs, and its actual revenue and expenses. You can find more information about changes to this rule in the Crown Entities Amendment Act 2013.

The entity must prepare its statement of performance in a way that is easy to understand and follows standard accounting practice. This helps you see what the entity did and how well it did it. It also helps you compare the entity's actual results to what it expected to achieve.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM330555.

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Part 4Crown entity reporting and financial obligations
Reporting obligations: Reporting: annual report

153Form and content of statement of performance

  1. A statement of performance must, in relation to a Crown entity and a financial year,—

  2. be prepared in accordance with generally accepted accounting practice; and
    1. describe each reportable class of outputs for the financial year; and
      1. include, for each reportable class of outputs identified in the entity's statement of performance expectations for the financial year,—
        1. the standards of delivery performance achieved by the entity, as compared with the forecast standards included in the entity's statement of performance expectations for the financial year; and
          1. the actual revenue earned and output expenses incurred, as compared with the expected revenues and proposed output expenses included in the entity's statement of performance expectations for the financial year.

          Notes
          • Section 153: replaced, on , by section 63 of the Crown Entities Amendment Act 2013 (2013 No 51).