Annual Report 2009/10 - Housing New Zealand

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outcome two continuedoutcome twowhere the corporation has a significant influence, people will live in safe, inclusive communitiesindicator rationale baseline 2009/10 resultsSafety from crimePerception ofsafety in ourtenantcommunitiesScope of indicator:Quarterlytelephone surveywith tenants,which seeksfeedback on theirperceptions of theirsafety in ourcommunities.The Corporationcan influence theperception ofsafety incommunities bycommunityrenewal, urbanplanning and goodneighbour policies.Q: Is your neighbourhood a safeplace for you and your family tolive in?Benchmark: 73 percent agreeor strongly agree.Outcome trend sought: Increasedtenant rating of neighbourhoodas a safe place to live.Source: Corporation TenantSatisfaction Monitor.74 percentBetween August 2009 andJuly 2010, 8,959 Corporationtenants were asked, “Is yourneighbourhood a safe place foryou and your family to live in?”Based on a scale of 1–5, 37 percentgave a 5 for ‘very satisfied’, and37 percent gave a 4 for ‘satisfied’.The 74 percent recorded resultby the Corporation is based on thecombined 4 and 5 scores. Tenantswho indicated dissatisfaction weremore likely to be tenants withdependent children and living inEast and South Auckland. Now thedata has been collated, the surveyresults will be distributed and theCorporation will subsequently planactions to address areas ofdissatisfaction, where possible.Source: Corporation customerresearch programme.40housing new zealand corporation | annual report 2009/10
Priorities for the futureThe Government’s vision for the social housing sector is to provide the right housing in the right place andat the right time to those most in need, for as long as the need exists, and to achieve these outcomes in themost cost-effective manner.During 2009/10, the Minister of Housing and Minister of Finance agreed a set of social objectives at thesector level and for the Corporation, which were included in the 2010 Letter of Expectations. As part ofdeveloping the 2010–13 Statement of Intent, the Corporation updated the Outcome Framework to supportthe Government’s social objectives and provide a more balanced overview of the performance of theCorporation. The 2010–13 Statement of Intent sets out in more detail what will be done to achieve theseoutcomes and provides an updated set of performance measures to demonstrate success.2 | Outcome ContributionOutcomes Frameworkcrown social objectives for the housing sectorHousing AssistanceAssistance is available to thosemost in need for the durationof their need, and is deliveredin a cost-effective manner.Access to HousingNew Zealanders have accessto housing that meets their needsand is affordable.Investment in Affordable HousingCreate a suitable businessenvironment for investment inaffordable housing by providers,including not-for-profit organisations.crown objectives for the corporationHousing AssistanceProvide cost-effective statehousing and associatedservices (as agreed withMinisters) to those mostin need, for the durationof their need.Access to HousingAssist low-income and/orvulnerable individualsand families to makethe right housing choicesand work with otheragencies to transitionlow-priority tenants intoalternative housing.Investment inAffordable HousingFacilitate the developmentof alternative providersof affordable housing,including not-for-profitorganisations.Financial ObjectiveOperate in abusinesslike manner withgood financial andasset stewardship toeffectively manage theCrown’s investment.New Zealanders with priorityhousing needs are supportedin their time of need.outcomesNew Zealanders in need arehelped along their pathwaytowards housing independence.The Crown’s resources aremanaged in the most efficientand effective manner.intermediate outcomesPeople withpriority needsare supported bycommunityhousingproviders.People withpriority needsare supportedby state housingin their timeof need.People who cansustain otherhousing optionsachieve housingindependence.Rental and homeownershipopportunitiesare increasedthroughalternativeproviders.Achieve the rightbalance betweenthe Crown’ssocial andfinancialobjectives.A housingportfolio that isfit for purpose bytype andlocation.housing new zealand corporation | annual report 2009/10 41
Page 1 and 2: Housing New Zealand Corporation Ann
Page 3 and 4: ContentsPart One: Overview 3Forewor
Page 5 and 6: Part oneOverviewForeword: Board Cha
Page 7 and 8: 1 | OverviewWe need to look for inn
Page 9 and 10: 1 | OverviewAs part of this journey
Page 11 and 12: Part twoOutcome contributionIntrodu
Page 13 and 14: Assessing housing needThe Corporati
Page 15 and 16: Housing PathwaysThe housing pathway
Page 17 and 18: outcome 1Where the Corporation has
Page 19 and 20: tenant home ownershipA long-term dr
Page 21 and 22: AucklandCanterbury andNelson/Marlbo
Page 23 and 24: Table 4: Oversupply of homes 3Overs
Page 25 and 26: The Corporation is planning a study
Page 27 and 28: Customer segmentation frameworkThe
Page 29 and 30: outcome onewhere the corporation ha
Page 35 and 36: outcome 2Where the Corporation has
Page 37 and 38: Examples of projects approved inclu
Page 39 and 40: Community development enhances then
Page 41: outcome twowhere the corporation ha
Page 45 and 46: Part threeManaging the CorporationO
Page 47 and 48: • Developing a Customer Segmentat
Page 49 and 50: Information systems and technologyI
Page 51 and 52: Structure and organisationHousing N
Page 53 and 54: AccountabilityOn an annual basis, t
Page 55 and 56: Part fourStatement ofService Perfor
Page 57 and 58: Audit Reporthousing new zealand cor
Page 59 and 60: Statement of Service PerformanceOut
Page 61 and 62: Output Class 2: State House Tenanci
Page 63 and 64: performance informationkey performa
Page 69 and 70: estimateddemand2009/10actualcomment
Page 75 and 76: upgrading existing houses (corporat
Page 79 and 80: AppropriationsThe following section
Page 81 and 82: corporation’s output classesoutpu
Page 83 and 84: Part fiveFinancial StatementspageHo
Page 85 and 86: ed gainsme 1%fromRepairs andmainten
Page 87 and 88: housing new zealand corporationInco
Page 89 and 90: housing new zealand corporationCash
Page 91 and 92: When the adoption of the new standa
Page 93 and 94:
The following new accounting standa
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(k) Intangible assetsThe Group has
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At each reporting date, the Group r
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(aa) Derivative financial instrumen
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Management monitors interest rate l
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YEAR ENDED 30 JUNE 2010QUOTEDMARKET
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The Corporation values the long-ser
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6 Receivables and prepaymentsGROUP
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FREEHOLDLANDRENTALPROPERTIESCAPITAL
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11 Available-for-sale financial ass
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SOLD MORTGAGESORIGINALSOLDAMOUNTCRO
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16(b) Current income tax liabilityG
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The insured underlying loans have a
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19 Cash and cash equivalentsGROUP G
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22 Interest rate risk on the carryi
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YEAR ENDED 30 JUNE 2009INTEREST RAT
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Hedging activitiesAt 30 June 2010,
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24(d) GrantsGROUP GROUP PARENT PARE
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(a) Sub-lease receivablesThe Corpor
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Terms and conditions of transaction
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Other expenses were $8 million belo
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housing agency accountStatement of
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housing agency accountIncome Statem
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housing agency accountCash Flow Sta
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Work in progressLand and related de
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(ii) Accounting standards and inter
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5 Rental properties2010 2009($000)
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9 Financial instrumentsLOANS &RECEI
Page 149:
We did not examine every transactio
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