Taxpayers’ funds are the Crown’s net investment in IR.
Taxpayers’ funds are divided and categorised into a number of components:
- total comprehensive revenue and expense
- repayment of surplus to the Crown
- capital injections
- capital withdrawals.
Capital management
IR’s capital is reflected in its taxpayers’ funds and is represented by net assets.
IR manages its revenue, expenses, assets liabilities and general financial dealings prudently and conservatively. IR’s taxpayers’ funds are largely managed as a by-product of managing revenue, expenses, assets, liabilities and compliance with the Government Budget processes, the Treasury Instructions and the Public Finance Act 1989.
The objective of managing IR’s taxpayers’ funds is to ensure that IR effectively achieves its agreed outcomes and remains a going concern.
Last updated:
05 Dec 2024