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Reserve Bank of New Zealand Act 2021

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

244: Annual financial statements

You could also call this:

"The Reserve Bank's yearly money report"

Illustration for Reserve Bank of New Zealand Act 2021

You need to know what the Reserve Bank of New Zealand does with its money each year. The Bank must get its financial statements ready as soon as possible after the end of each financial year. The Bank's financial statements must follow standard accounting rules and include extra information to show how the Bank is doing financially. The statements must also include a forecast from the start of the year to compare with the actual results. You will see the Bank's financial statements show some payments separately. These include payments the Bank makes under section 140(1) and payments the Minister makes to the Bank under section 140(2). The Bank must prepare these statements to show its financial operations and position. The financial statements are important to understand the Bank's money situation. The Bank follows rules to make sure its statements are accurate and fair. You can find more information about the Bank's financial statements in the annual report.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287293.

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

244Annual financial statements

  1. As soon as practicable after the end of each financial year, the Bank must prepare financial statements in relation to the Bank for that financial year.

  2. The financial statements must—

  3. comply with generally accepted accounting practice; and
    1. include any other information or explanations needed to fairly reflect the financial operations and financial position; and
      1. include the forecast statement of comprehensive revenue and expense prepared at the start of the financial year, for comparison with the actual financial statements.

        1. The financial statements must show separately—

        2. any payments made by the Bank under section 140(1); and
          1. any payments made by the Minister to the Bank under section 140(2).

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