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Financial position and performance of Māori authorities

Māori authority asset base continues to grow

The Māori authority asset base has many dimensions. With diversification into more industries, assets now include construction, transport, and cultural and recreational services.

Note: the latest available information in this section is for the 2013 financial year.

The asset base of Māori authorities continued to grow in 2013. Total assets recorded for Māori authorities were worth $12.5 billion (0.7 percent of all New Zealand business assets), up 9.1 percent from 2012. Current assets (eg stocks and accounts receivable) led the rise, up 33 percent to reach $2.2 billion.

Māori authorities continued to hold a higher proportion of fixed tangible assets (42 percent) than total New Zealand businesses (28 percent) did in 2013 (see figure 5). A fixed tangible asset is the physical goods (eg land or machinery) that a company holds to help generate income. In contrast, total New Zealand businesses held more ‘other assets’ (eg long-term bonds, intangibles, and shares).

Māori authorities in the traditional land- and sea-based industries (agriculture, forestry, and fishing; and rental, hiring, and real estate services) held half of Māori authorities’ total assets in 2013 (see figure 6). More than half the assets of these two industry groups were fixed tangible assets (eg land and buildings).

This retention and growth of the asset base reflects aspects of kaitiakitanga (guardianship), where resources are protected and responsibly managed so that they, in turn, can sustain future generations.

Figure 5

Figure 6

Expenditure increases in 2013

Total expenditure for Māori authorities increased in 2013 – up 7.4 percent from 2012 to $2.2 billion (0.4 percent of all New Zealand business expenditure).

Both Māori authorities and total New Zealand businesses spent over 60 percent of their total expenditure on purchases and other operating expenses, and 19 percent on salaries and wages (see figure 7).

Expenditure for Māori authorities in manufacturing was almost one-third (32 percent) of the total expenditure by Māori authorities in 2013 (see figure 6). This was similar to the expenditure for the agriculture, forestry, and fishing; and rental, hiring, and real estate services industries, which together was 30 percent.

Figure 7

Total income up 18 percent in 2013

Total income for Māori authorities increased $430 million (18 percent) from 2012, to $2.9 billion (0.5 percent of total New Zealand business income) for the 2013 financial year. This rise compares with a $335 million (0.1 percent) fall in total income for total New Zealand businesses for the same period.

[Note: on 23 June 2015 we corrected the $335 million figure above from the $335 billion we originally published.]

Income for Māori authorities in manufacturing was 26 percent of the total income of Māori authorities in 2013 (see figure 6). This was similar to their income from the traditional land- and sea-based industries (agriculture, forestry, and fishing; and rental, hiring and real estate services), which was 30 percent of the total.

Return on total assets positive in 2013

Māori authorities had a 4.9 percent return on total assets in the 2013 financial year. Return on total assets is defined as surplus before tax, divided by total assets. Surplus before tax is measured as total income minus total expense, plus changes in stocks.

Return on total assets for Māori authorities in the manufacturing industry was slightly negative, at -0.6 percent in 2013 (see figure 8). However this loss was driven by changes in stocks, as total income ($731 million) was only slightly larger than total expenses ($726 million).

Return on total assets for Māori authorities in the rental, hiring, and real estate services industry was 5.3 percent, which is greater than the return on total assets for all New Zealand businesses in the same industry.

Figure 8

Almost two-thirds report profitability and sales increase

This positive return across all Māori authorities is mirrored in the performance that individual Māori authorities report. Of those surveyed with six or more employees, almost two-thirds (64 percent) of respondents reported increased profitability in 2013. In contrast, 47 percent of all New Zealand businesses with six or more employees reported increased profitability.

Over half of the Māori authorities (60 percent) and New Zealand businesses (56 percent) surveyed reported increased total sales of goods and services in 2013.



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