Salaries and wages
Salaries and wages expenditure is recognised as an expense in the period to which they relate.
Superannuation schemes
Employer obligations for contributions to the Inland Revenue Superannuation Scheme, State Sector Retirement Savings Scheme, KiwiSaver and the Government.
Superannuation Fund are accounted for as defined contribution schemes. These obligations are expensed in the period they are paid.
| Personnel cost | Actual 2023 ($000) | Actual 2024 ($000) | Unaudited Budget 2024 ($000) |
|---|---|---|---|
| Salaries and wages | $363,969 | $409,131 | $395,329 |
| Employer contributions to defined contribution schemes | $11,376 | $12,102 | $11,469 |
| Retiring, long-service, annual and sick leave |
$6,247 | $4,656 | $2,609 |
| Training and development | $2,364 | $2,868 | $1,913 |
| ACC levies | $712 | $803 | $608 |
| Other personnel expenses | $10,368 | $4,537 | $733 |
| Total personnel | $395,036 | $434,097 | $412,661 |
Explanation of major variances against budget
Personnel costs were $21.436 million higher than budget. The variance is primarily due to an increase in salaries and wages as a result of Crown funding for Public Sector Pay Agreement outcomes.
Last updated:
05 Dec 2024