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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Reporting obligations - Reporting: annual report

243: Form and content of statement of performance

You could also call this:

"What the Reserve Bank did and how well it did its job each year"

Illustration for Reserve Bank of New Zealand Act 2021

You need to prepare a statement of performance for the Reserve Bank of New Zealand each financial year. This statement must follow generally accepted accounting practice. It must describe what the Bank did during the year. You have to include information about how well the Bank did its job. This includes how it performed compared to what it expected to do. It also includes how much money the Bank earned and spent, compared to what it expected. You can compare this to the Reserve Bank of New Zealand Act 1986 for more information.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287292.

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242: Disclosure of remuneration and of details of indemnities and insurance cover, or

"The Reserve Bank must tell you what they pay their staff and what protection they give them."

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244: Annual financial statements, or

"The Reserve Bank's yearly money report"

Part 5Financial and accountability matters
Reporting obligations: Reporting: annual report

243Form and content of statement of performance

  1. A statement of performance must, in relation to the Bank 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 Bank’s statement of performance expectations for the financial year,—
        1. the standards of delivery performance achieved by the Bank, as compared with the forecast standards included in the Bank’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 Bank’s statement of performance expectations for the financial year.

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