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					RADIO NEW ZEALAND annUal report 2007-2008




                        SPEAKS FOR ALL
             NEW ZEALANDERS
                                  A VOICE THAT
Contents

Chairman’s report           • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •   2   Chief exeCUtive report                     •• • • • • • • • • • • • • • • • • • • • • • • • • • • •   10
Board of Governors               •• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •   5   performanCe manaGement                              • • • • • • • • • • • • • • • • • • • • • • • •   14
oUr Charter   • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •   6   finanCial performanCe                       • • • • • • • • • • • • • • • • • • • • • • • • • • • •   34
oUr performanCe Based on pUBliC valUe and                                                                 direCtory   • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •   72
oUr Charter oBJeCtives                   •• • • • • • • • • • • • • • • • • • • • • • • • • • • • •   7
Good employer and eqUal employment
opportUnities reportinG                     • • • • • • • • • • • • • • • • • • • • • • • • • • • •   8
    SOUNDS
    LIKE US.




1
                                                                                        “As an independent and
Chairman’s Report

                                                                                         commercial-free public service
                                                                                         broadcaster, the purpose
                                                                                         of Radio New Zealand is to
                                                                                         serve the public interest.”




                                            Brian CorBan QSo – Chairman




                    introduCtion                                                                    However, rising costs are now threatening the gains made in recent
                    As an independent and commercial-free public service broadcaster,               years and we have been forced to shift our strategic focus towards
                    Radio New Zealand’s purpose is to serve the public interest, and the            ensuring the sustainability of both the range and quality of Radio
                    ongoing protection of public service broadcasting values remains of             New Zealand’s current services.
                    critical importance to us all.                                                  During the course of the 2007-2008 financial year, independent
                    New Zealand is justifiably proud of its unique national identity,               consultants conducted a comprehensive Baseline Funding Review to
                    particularly the shared sense of belonging and evolving cultural values         determine the level of funding required to maintain Radio New Zealand
                    that bring us together and contribute to our sense of self.                     services at their current levels.

                    Awareness and preservation of that shared culture are critical factors          The results of that review will inform future funding discussions with
                    in sustaining a unique New Zealand identity and a strong, independent           Shareholding Ministers.
                    voice in an increasingly globalised, homogenised world.
                                                                                                    Looking to the Future
                    As the country’s only wholly public service broadcaster, Radio
                                                                                                    Our primary strategic objective must be to guarantee adequate,
                    New Zealand gives voice to our culture, promoting, reinforcing and
                                                                                                    long-term, direct funding which allows Radio New Zealand to meet its
                    celebrating that which is uniquely ours.
                                                                                                    Charter obligations now and in the future.
                    Radio New Zealand is proud to be a chartered public service
                                                                                                    Radio New Zealand is New Zealand’s only dedicated public service
                    broadcaster and we are committed to the principles of the Radio
                                                                                                    broadcaster and we believe it is vital that our institutional form
                    New Zealand Charter and therefore to capturing and broadcasting
                                                                                                    properly reflects that unique role. Discussions are underway with
                    the many voices that speak to, or influence, New Zealanders.
                                                                                                    Government to restructure Radio New Zealand into an appropriate
                    Freedom of thought and expression is an essential foundation of                 institutional form that clearly establishes its non-commercial status,
                    democracy and Radio New Zealand’s mandate ensures the provision                 and one which guarantees and overtly demonstrates its editorial
                    of universal access to information and services covering all aspects            independence.
                    of the nation’s life.
                                                                                                    Sound financial management and delivery of high-quality, cost-effective
                    In recent years Radio New Zealand has continued to place emphasis on            services has been a major feature of Radio New Zealand operations
                    the central theme of rebuilding, integrating, consolidating and                 in recent years; however, these operations are vulnerable where we
                    enhancing the institution of Radio New Zealand.                                 do not control the means of delivery. In order to guarantee the future
                    Significant progress has been made during this time including the               sustainability of our broadcasting services, we must work towards
                    development of our new online broadcasting services and award-                  a position where all key assets necessary for Charter delivery are
                    winning website, enhancements to Radio New Zealand International’s              owned and controlled by Radio New Zealand as an enduring national
                    coverage of the Pacific and the first steps towards rebuilding Radio            institution which has its origins in the beginnings of radio broadcasting
                    New Zealand’s presence in regional areas of New Zealand.                        in the 1920s.



                                                                                                                                                               2
                                                                              The Government has announced
                                                                              an increase in funding for Radio
                                                                              New Zealand over the next four years
                                                                             “to maintain its core services”. The
                                                                              additional funding for the 2008-2009
                                                                              financial year will be $2.6 million.




FinanCiaL PerFormanCe                                                             ConCLuSion
Prudent financial management was once again a feature of operations               This report marks the end of my eight-year term as Chairman of
during the year. Radio New Zealand represents an exceptional return               Radio New Zealand. When I assumed the role in 2000, I found an
on investment for New Zealanders but with enhanced services and                   organisation wrestling with some very difficult issues at both the
improved delivery come heightened audience expectations and there                 governance and management levels. The organisation I now leave
are many competing calls on our limited funding.                                  is in a very different position. It has great strength of governance
                                                                                  and management, a strong culture and profound unity of purpose
In its 2008 Budget, the Government announced an increase in funding
                                                                                  in advancing the best public service broadcasting values. For that
for Radio New Zealand over the next four years “to maintain its core
                                                                                  I thank all involved including particularly Deputy Chair Alison Timms,
services”. The additional funding for the 2008-2009 financial year will
                                                                                  my Board colleagues past and present, Chief Executive Peter
be $2.6 million.
                                                                                  Cavanagh, the Senior Management Team, all past and present staff
Radio New Zealand is grateful for the extra funding received in this
                                                                                  members and importantly the present government and our
year’s Budget; however, we are disappointed that the amount allocated
                                                                                  Shareholding Ministers over those eight years, who have been
falls well below the recommendations of the recent Baseline Funding
                                                                                  strongly committed to public service broadcasting.
Review. We will continue the discussion on full implementation of
                                                                                  On 1 July 2008, the Chairmanship passed to Christine Grice, who has
those recommendations as soon as possible.
                                                                                  been a member of the Radio New Zealand Board of Governors for the
The additional funding we have received will help ease a number
                                                                                  past two years.
of financial pressure points across the organisation and allow
                                                                                  Christine, as a senior colleague from the legal profession, has a strong
current services to be maintained in the year ahead. Many potential
                                                                                  constitutional understanding of the critical role of public service
enhancements remain unfunded, however, and our emphasis in the
                                                                                  broadcasting to our democracy and I am sure that I am leaving Radio
meantime must remain on preserving and funding our established
                                                                                  New Zealand in very good hands.
core services.
                                                                                  Over the past eight years, I have observed a number of trends in the
Radio New Zealand was able to operate within budget for the year and
                                                                                  media and broadcasting industries which highlight the fundamental
return a modest surplus of $29,000 before tax. That was no mean feat
                                                                                  importance to this country of maintaining a strong and independent
and is the result of very tight financial management. Sound financial
                                                                                  Radio New Zealand.
management is reinforced through a robust risk management, policy
development and compliance programme.                                             During this time we have seen a continuing decline in the role and
                                                                                  perceived importance of public service television broadcasting.
No dividend will be paid for the year as Shareholding Ministers have again
waived their right to receive a dividend.




              3
                          As the only news organisation in New Zealand
                          which is completely free of ownership or other
                          commercial pressures, Radio New Zealand’s role
                          as this country’s most trusted and reliable
                          source of independent news and information
                          has never been more important and should be
                          protected at all costs.




We have also witnessed an increasing concentration of media                                              ChriStine griCe,
ownership into fewer and fewer hands. In more recent times, there
                                                                                                         inComing Chair oF the
has been a marked convergence of newspaper, television and radio
operations, resulting in less diversity of opinion and fewer independent
                                                                                                         radio new ZeaLand Board
sources of news and information.

As the only news organisation in New Zealand which is completely free                                  As the incoming Chair of the Radio New Zealand
of ownership or other commercial pressures, Radio New Zealand’s role                                   Board of Governors I want to pay tribute to the
as this country’s most trusted and reliable source of independent                                      outgoing Chairman, Brian Corban.
news and information has never been more important and should be
                                                                             Brian has been a passionate and dedicated advocate for the principles
protected at all costs.
                                                                             of public service broadcasting for more than 20 years. It is a passion
I would again take this opportunity to pay tribute to the various members    that has been reflected in his unswerving commitment to rebuilding
of the Radio New Zealand Board of Governors with whom I have worked          and revitalising Radio New Zealand during his term as Chairman.
during my time as Chairman. They have ably represented the diversity of
                                                                             He leaves Radio New Zealand as a robust and resurgent organisation in
our society and without exception they have worked tirelessly to ensure
                                                                             very good heart, with strong support from the New Zealand public and
that Radio New Zealand remains focused on being a true “public service”
                                                                             a growing relevance for rapidly expanding international audiences.
broadcaster. It has been a privilege to serve with them.
                                                                             Brian made sure the transition to me as incoming Chair was smooth.
And to the Chief Executive and Editor-in-Chief, Peter Cavanagh, the Senior
                                                                             The new Board embraces his vision of the importance Radio New
Management Team and the staff of Radio New Zealand, I would like to
                                                                             Zealand as an independent and commercial-free public service
express my sincere thanks and great admiration for the exceptional
                                                                             broadcaster and an enduring New Zealand institution.
quality of the work they produce each and every day. No one else does
what Radio New Zealand does and I have no doubt whatsoever that the          ChriStine griCe – Chair

country would be a very much poorer place without it.

The challenge now is to ensure that Radio New Zealand, with a proud
heritage of 83 years, gains universal recognition and support as
an essential and enduring cultural institution of our nation in all its
diversity, as well as continuing to embrace our region, the Pacific,
where the people of our many island neighbours, also depend on us.
Brian CorBan QSo – Chairman
1/12/2000-30/6/2008




                                                                                                                                          4
                                                                                                                                                                Board of Governors
                                       LEFT TO RIGHT, TOP ROW: BRIAN CORBAN; ALISON TIMMS; ALAN DICK; JuDY FINN
                                       BOTTOM ROW: CHRISTINE GRICE; JuDITH FYFE; SIFA TAuMOEPEAu; STEVE MuRRAY




Brian CorBan                           Alison is a director of Wellington          ChriStine griCe                         SiFa taumoePeau
Chairman [QSO, MA (Hons), LLB,         Waterfront Ltd, Chair of                    [CNZM, LLB (Hons)]                      Sifa Taumoepeau is the
FIOD, FNZIM]                           the Insurance and Savings                   Christine Grice is a lawyer and         Government Affairs Manager for
Brian Corban is a professional         Ombudsman Commission, and a                 company director. She is currently      SKYCITY Entertainment Group
company director, lawyer, and          Board member of the Wellington              Chair of the Perry Group Limited,       Ltd. He is a member of the Heart
business and community leader.         Citizens Advice Bureau.                     a diversified group of companies        of Auckland City Board and of the
He has experience in successfully      aLan diCk                                   based in the Waikato. She also          Gaming Machine Association of
leading companies through              [QSO, MBA, FNZIM]                           chairs Te Pou, the National Centre      New Zealand He has previously
restructuring and deregulatory         Alan Dick has diverse business,             of Mental Health Research and           been a director of the National
changes in the television,             community and governance                    Workforce Development (Mental           Pacific Radio Trust, which governs
telecommunications, transport          experience. A business and                  Health Programmes Limited),             Niu FM.
and electricity sectors.               commercial property consultant,             and the New Zealand Law Society         Steve murray
He is currently Chairman of            he has been a director of LATES,            Continuing Education Board, and         Chairman Audit Committee [MBA]
Genesis Energy, Chairman of the        a port company and numerous                 is a board member of the statutory      Steve Murray is the former
Melanesian Trust Board, Ngatarawa      private companies. Alan has had             Council of Legal Education.             Managing Director of global IT
Wines and a number of private          a long and distinguished career             She is immediate past president of      services company EDS NZ. Prior to
companies and is a trustee of          in local government, serving for            the New Zealand Law Society.            joining EDS, Steve was with Tainui
various community trusts. He is a      12 years as Mayor of Napier until                                                   Group Holdings in the capacity of
                                                                                   Judith FyFe [LLB]
Fellow of the Institute of Directors   standing down in 2001.                                                              Chief Executive from 2002 until
                                                                                   Judith Fyfe is a practising barrister
and a Fellow of the New Zealand        He is currently Transport                                                           2006. His international business
                                                                                   with an active interest in oral
Institute of Management.               Chairman of the Hawke’s Bay                                                         experience includes senior
                                                                                   history as a lecturer, author and
aLiSon timmS                           Regional Council, and serves                                                        management roles with Ernst &
                                                                                   producer. Prior to co-founding the
Deputy Chair [BA]                      several community organisations                                                     Young and the airline industry in
                                                                                   New Zealand Oral History Archive,
Alison Timms has had more than         in a governance role.                                                               New Zealand and Australia. He is
                                                                                   she worked in broadcasting,
20 years of management                                                                                                     currently a trustee of the Equal
                                       Judy Finn                                   television and film. Judith was
experience at senior levels in                                                                                             Employment Opportunities Trust
                                       Judy Finn is a co-owner and                 a member of the Arts Board of
the public sector. She is now an                                                                                           and a member of the Defence
                                       director of Neudorf Vineyards and           Creative New Zealand until May
independent consultant.                                                                                                    Industry Council of New Zealand.
                                       a director of the Bishop Suter Art          2007, and is a member of the
                                       Gallery in Nelson.                          Copyright Tribunal.




               5
Our Charter




                                                            EVERY DAY, RADIO NEW ZEALAND CAPTuRES AND REFLECTS THE THOuGHTS,
                                                            OPINIONS AND INFORMATION WE WANT TO SHARE AS A NATION, IN PROGRAMMES
                                                            THAT CONTRIBuTE TOWARDS OuR BROADER COLLECTIVE uNDERSTANDING,
                                                            HELP uS FOLLOW WHAT IS GOING ON IN OuR OWN COuNTRY AND STAY IN
                                                            TOuCH WITH DEVELOPMENTS IN THE WORLD AROuND uS.

                             Whilst it was enacted by Parliament, the Radio New Zealand Charter is more than just a piece of legislation.
                             In effect, the Charter is a “living” guide to all that we do. It provides a vision along with parameters for how
                             our unique range of services fits with our place in New Zealand public life.

                             Through the programmes it specifically encourages, and the standards that it sets, the Charter also ensures
                             that Radio New Zealand promotes and protects, to the best of its abilities, the fullest possible sense of our
                             national identity. Our Charter states:




                1          the FunCtionS oF the PuBLiC radio ComPany ShaLL Be to Provide innovative,
                           ComPrehenSive, and indePendent BroadCaSting ServiCeS oF a high Standard and
                           without Limiting the generaLity oF the Foregoing, to Provide:

              (a) Programmes which contribute               (c) Programmes which provide for       (e) A nationwide service providing        (g) Comprehensive, independent,
              towards intellectual, scientific, cultural,   varied interests and a full range of   programming of the highest quality to     impartial, and balanced international
              spiritual and ethical development,            age groups within the community,       as many New Zealanders as possible,       news services and current affairs; and
              promote informed debate, and                  including information, educational,    thereby engendering a sense of
                                                                                                                                             (h) An international radio service to
              stimulate critical thought; and               special interest, and entertainment    citizenship and national identity; and
                                                                                                                                             the South Pacific (Radio New Zealand
                                                            programmes; and
              (b) A range of New Zealand                                                           (f) Comprehensive, independent,           International) which may include a
              programmes, including information,            (d) Programmes which encourage         impartial and balanced national news      range of programmes in English and
              special interest, and entertainment           and promote the musical, dramatic,     services and current affairs, including   Pacific Ianguages; and
              programmes, and programmes                    and other performing arts, including   items with a regional perspective; and
                                                                                                                                             (i) Archiving of programmes which
              which reflect New Zealand’s cultural          programmes featuring New Zealand
                                                                                                                                             are likely to be of historical interest in
              diversity, including Mäori language           and international composers,
                                                                                                                                             New Zealand.
              and culture; and                              performers and artists; and




               2           in Providing BroadCaSting ServiCeS, the PuBLiC
                           radio ComPany ShaLL take aCCount oF:

                                                            (a) Recognised standards of            (c) The broadcasting services             (e) Surveys, commissioned from
                                                            excellence; and                        provided by other broadcasters; and       time to time, of persons who are not
                                                                                                                                             members of its current audiences.
                                                            (b) Its responsibility as the          (d) Surveys, commissioned annually,
                                                            provider of an independent national    of persons who are members of its
                                                            broadcasting service to provide a      current audiences to establish
                                                            balance between programmes of          whether those members consider
                                                            wide appeal and programmes of          that the quality and quantity of its
                                                            interest to minority audiences; and    services are being maintained in
                                                                                                   accordance with subsection (1); and




                                                                                                                                                                      6
Good Employer and Equal Employment Opportunities Reporting


                                                             RADIO NEW ZEALAND’S EquAL EMPLOYMENT OPPORTuNITIES SuPPORT THE SEVEN ELEMENTS OF GOOD EMPLOYER REPORTING:



                                                             1     Leadership, accountability and culture.
                                                                                                                                     4       Flexibility and work design.




                                                             2     Recruitment, selection and induction.
                                                                                                                                     5       Remuneration, recognition and conditions.




                                                             3     Employee development, promotion and exit.
                                                                                                                                     6       Harassment and bullying prevention.




                                                                                                                                     7       Safe and healthy environment.




                                                              eLement                                          radio new ZeaLand aCtivity

                                                              LEADERSHIP, ACCOuNTABILITY AND CuLTuRE           Ongoing development of a learning and development framework which
                                                                                                               supports and promotes the involvement of all employees. It acknowledges
                                                                                                               cultural and ethnic diversity while supporting business needs.

                                                              RECRuITMENT, SELECTION AND INDuCTION             Ongoing collection of information relating to EEO. Focus during the year
                                                                                                               has been capture of data relating to successful applicants.

                                                                                                               Analysis of recruitment and selection processes to identify EEO and
                                                                                                               diversity trends.

                                                              EMPLOYEE DEVELOPMENT, PROMOTION AND EXIT         Continued use of traineeships where possible to strengthen ethnic diversity.

                                                                                                               Internal rotation and career development opportunities identified,
                                                                                                               advertised and filled internally.

                                                                                                               Exit surveys routinely distributed, personal interviews held on request.

                                                              FLEXIBILITY AND WORK DESIGN                      EEO and diversity competencies included in performance assessments have
                                                                                                               been progressively added to job descriptions.

                                                                                                               Increase in level of staff participation in multi-skilled job opportunities.

                                                                                                               Continue to evaluate all requests for flexible working conditions on a
                                                                                                               case-by-case basis.

                                                              REMuNERATION, RECOGNITION AND CONDITIONS         Ongoing development of a remuneration strategy designed to put our staff
                                                                                                               on equivalent levels of remuneration and benefits as apply elsewhere in the
                                                                                                               industry, subject to baseline funding.

                                                              HARASSMENT AND BuLLYING PREVENTION               Continued promotion of the Dignity at Work policy to all staff through
                                                                                                               posters, newsletters and induction training.

                                                                                                               Provision of a confidential external Employee Assistance Programme provider.

                                                              SAFE AND HEALTHY ENVIRONMENT                     Strengthened role of trained health and safety committee members in
                                                                                                               hazard identification and mitigation.

                                                                                                               Early identification and immediacy of action on OSH issues.




                                                                                                                                                                                              8
                                                                                                    Radio New Zealand Workforce Profile as at 30 June 2008
                                             workForCe ProFiLe




    StaFF numBerS – headCount 291, Fte 266




              Length oF ServiCe                                          age ProFiLe




                 32%   uNDER 3 YEARS                                     15%   uNDER 30 YEARS
                 34%   3 TO 10 YEARS                                     25%   30-40 YEARS
                 34%   OVER 10 YEARS                                     26%   40-50 YEARS
                                                                         34%   OVER 50 YEARS




                   gender                                        ethniCity (OF THOSE RECORDED)




                                                                         4%    MÄORI
                 47%   FEMALE
                                                                         81%   NZ EuROPEAN/PAKEHA
                 53%   MALE
                                                                         3%    PACIFIC
                                                                         1%    ASIAN
                                                                         11%   OTHER




9
Chief Executive Report


                                                                                           To do its job properly,
                                                                                           Radio New Zealand must have
                                                                                           the complete confidence of
                                                                                           all New Zealanders.




                                    Peter Cavanagh – Chief Executive and Editor-in-Chief




                         truSt and indePendenCe                                                        In recent years, Radio New Zealand has developed rigorous and
                         As New Zealand’s only independent and commercial-free public                  comprehensive editorial policies and guidelines to ensure that
                         service broadcaster, Radio New Zealand plays a vital role in the              our journalism is robust and that our reputation for fairness and
                         democratic process and gives our culture a voice, both at home                impartiality is protected. These policies are available for all to see
                         and on the international stage.                                               on our website and make it clear to our staff, our audience and our
                                                                                                       stakeholders that we take our editorial responsibilities very seriously.
                         To do its job properly, Radio New Zealand must have the complete
                         confidence of all New Zealanders.                                             It is gratifying that the regular public surveys we conduct show that the
                                                                                                       vast majority of New Zealanders trust and value the services we provide.
                         Our audiences must know that when we provide them with news
                         and information, they can trust us to tell them the truth, without
                                                                                                       our audienCeS
                         fear or favour. They need to know that any information we provide
                                                                                                       radio new Zealand website
                         is independent, fair and balanced – and that it is provided solely in
                         the public interest. And they need to know that we will ask the tough         In 2005, Radio New Zealand announced a major upgrade of its website
                         questions on their behalf.                                                    www.radionz.co.nz. Our web services were relaunched and rebranded
                                                                                                       in 2007, and the expansion of our online broadcasting activities has
                         It is not the role of a public service broadcaster to tell people what to
                                                                                                       continued to be a major focus of our attention during 2007-2008.
                         think, nor to promote its own particular point of view on any issue.
                         Our role is to accurately reflect the range of views held by members          Radio New Zealand offers an attractive, accessible website with live
                         of the public, providing a safe and trusted forum where people can            streaming, a high-quality text-based news service, podcasting, audio-
                         engage in informed debate on the key issues and where critical                on-demand and an extensive programme archive, all on the one site.
                         thinking can be developed.                                                    Public demand for these new services continues to exceed all
                         To gain the public trust necessary to achieve this goal, we must maintain     expectations and we are attracting significant new audiences both
                         the highest standards of editorial independence and integrity.                at home and overseas.




                                                                                                                                                                   10
                               In recent months we have
                               significantly expanded our
                               online archive, giving our
                               audience access to thousands
                               of additional hours of
                               programme content.




In the 12 months to 30 June 2008, more than four million                   About one in five New Zealanders over the age of 15 still listen to either
Radio New Zealand programmes or programme segments were                    Radio New Zealand National or Radio New Zealand Concert each week.
replayed “on-demand” through the website and we expect the
                                                                           But there is no doubt that we are witnessing the early stages of a
popularity of this service to grow even further in the year ahead.
                                                                           seismic shift in listening patterns. In the longer term, as our listeners
In recent months we have significantly expanded our online archive,        continue to switch from “live” radio broadcasts to downloaded and
giving our audience access to thousands of additional hours of             “time-shifted” online listening, it is inevitable that our traditional live
programme content.                                                         audience figures will start to decline.

Our flagship news and current affairs programmes Morning Report            In future, therefore, to measure the full size of the Radio New Zealand
and Nine to Noon now have a fully searchable archive dating back to        audience, we will need to take into account a range of complex factors
the beginning of 2008, unlocking past interviews, discussions and          including both domestic and overseas-based audiences; real-time and
programme content for downloading or listening on-demand. All 2008         delayed listening; and an ever-increasing array of different listening
editions of Saturday Morning with Kim Hill are also now available online   options including computers, laptops, mobile phones, televisions and
and there are plans to extend the archives of many other programmes        hand-held internet devices.
in the year ahead.
                                                                           We are continuing to refine our audience measurement system to meet
As well as proving immensely popular with listeners, this expanded         the challenge of accurately measuring this diverse range of listening.
library of quality programming is building into a very valuable            However, from the information already available to us, it is clear that
educational and research resource for all New Zealanders.                  Radio New Zealand is currently attracting its highest audience numbers
                                                                           in many years.
traditional “live” listening
Remarkably – despite the huge volume of time-shifted listening
of Radio New Zealand content which now takes place in the online
world – audiences for our traditional live radio broadcasts are
continuing to grow.



             11
                        While the overall size of our
                        audience is important to us, it is
                        the quality of our programming
                        that allows us to meet our
                        Charter obligations and sets us
                        apart from other broadcasters.

                                                                               Over the past year,
                                                                               Radio New Zealand has
                                                                               received many awards for
                                                                               the excellence of its work
                                                                               from its professional peers
                                                                               both here and overseas.




reCognition oF eXCeLLenCe                                                      new Zealand radio awards
While the overall size of our audience is important to us, it is the quality   The 2008 New Zealand Radio Awards recognised the very best work
of our programming that allows us to meet our Charter obligations and          from commercial and public service broadcasters throughout the
sets us apart from other broadcasters.                                         country. Radio New Zealand achieved outstanding results winning
Over the past year, Radio New Zealand has received many awards for the         nine individual category awards and achieving a clean sweep of all
excellence of its work from its professional peers both here and overseas.     the Best News categories.

international Broadcaster of the year                                          mäori Language awards

We are justifiably proud of the fact that Radio New Zealand                    Public recognition of Radio New Zealand’s commitment to reflecting
International won the prestigious International Radio Station of the           the cultural dimension of our Charter came in September when Radio
Year Award at the Association for International Broadcasting ( AIB )           New Zealand received the Supreme Award at the 2007 Mäori Language
Media Excellence Awards announced in London in November 2007.                  Week Awards.

The AIB represents more than 25,000 public and commercial                      This award recognised Radio New Zealand’s achievements in
radio and television professionals worldwide and the annual awards             seamlessly integrating Te Reo Mäori into our on-air presentation and
recognise the very best in international broadcasting.                         throughout our website. As Radio New Zealand continues to expand
                                                                               its international audience base, Te Reo Mäori helps provide us with a
This award is a great honour and a wonderful tribute to the hard work
                                                                               style of broadcasting that is unique to New Zealand.
and dedication of the small team that makes up Radio New Zealand
International. This has been a turbulent year for the Pacific and our
                                                                               SigniFiCant eventS
media coverage has played a critical role in reporting events in Fiji,
                                                                               In a year of many significant achievements, two items are worthy of
Tonga and Solomon Islands to wider international audiences.
                                                                               special mention.
With the continuing political and social instability across the region –
and increasing pressure on the editorial independence of local news            death of Sir edmund hillary
media – Radio New Zealand International is now clearly regarded as             People all around the world were saddened by the death of Sir Edmund
the authoritative voice of the Pacific.                                        Hillary in January this year. Radio New Zealand carried extensive
                                                                               coverage of the announcement of the death and the subsequent
                                                                               state funeral for this truly iconic international figure, as well as a
                                                                               range of commemorative programming.




                                                                                                                                            12
                                                                                            One of the great benefits of
                                                                                            modern forms of communication
                                                                                            such as email and text messages
                                                                                            is that it makes it so much easier
                                                                                            for our audiences – both here and
                                                                                            overseas – to stay in touch with us
                                                                                            and to give us their feedback.




As the official radio broadcaster, Radio New Zealand was able to ensure   The large volume of individual feedback we receive, together with
that New Zealanders and other international audiences – including the     the qualitative research we conduct each year, confirms the high
Nepalese people – had an opportunity to be part of a very significant     value New Zealanders place on Radio New Zealand and the public
time of national reflection and commemoration.                            broadcasting services it provides.

Radio New Zealand’s coverage of the event, including its news and         Against a backdrop of considerable financial restraint in the past
documentary programming, has been short-listed for the 2008 AIB           year, our programme makers and support staff have again risen
Media Excellence Awards in London.                                        magnificently to the challenge, producing a very broad range of
                                                                          programming of consistently high quality.
Celebrating 50 years of Sound archives/ngä taonga körero
                                                                          To achieve these results in such difficult circumstances requires
In 2007,one of New Zealand’s greatest cultural treasures, Radio
                                                                          an incredible amount of hard work, dedication and creativity. It also
New Zealand Sound Archives/Ngä Taonga Körero celebrated its
                                                                          demonstrates a very strong commitment to the Radio New Zealand
50th anniversary.
                                                                          Charter and to the principles and values of public service broadcasting.
This unique collection of New Zealand’s history in sound has              To all my staff, I offer my sincere thanks and congratulations on
for many years been an invaluable resource for programme makers,          another very successful year for our organisation.
educational institutions and major national heritage projects. In
                                                                          My thanks too to members of the Radio New Zealand Board of Governors
future years, as funding allows, we hope to fully digitise this amazing
                                                                          for their very valuable support and guidance during this period.
treasure trove, making it freely accessible to all New Zealanders.
                                                                          I would also like to take this opportunity to acknowledge the
ConCLuSion                                                                outstanding contribution to Radio New Zealand over the past eight
One of the great benefits of modern forms of communication such           years of our outgoing Chairman, Brian Corban. Brian has been a
as email and text messages is that it makes it so much easier for our     passionate and very effective advocate for Radio New Zealand
audiences – both here and overseas – to stay in touch with us and to      and for quality public service broadcasting in New Zealand. During
give us their feedback.                                                   his Chairmanship, much has been done to rebuild and revitalise
While raw audience numbers are an important performance                   Radio New Zealand and he leaves an organisation confident about
measurement, it is the personal stories about how our programming         the importance of its role in New Zealand society and well placed to
affects people’s lives that are often the most gratifying.                meet the challenges of the future.

                                                                          Peter Cavanagh – Chief Executive and Editor-in-Chief




             13
Performance Management



OutcOmes                                                                                                           Result


1
        NEW ZEALAND HAVING A HEALTHY SENSE OF CITIZENSHIP AND ITS OWN NATIONAL IDENTITY                            ACHIEVED
        Informing New Zealanders about New Zealand and its position in the world.                                  Achieved

        Being predominantly and distinctively of New Zealand.                                                      Achieved

        Fostering critical thought and informed and wide-ranging debate, thereby contributing to greater
                                                                                                                   Achieved
        tolerance and understanding.

        Reflecting and promoting ethnic, cultural and artistic diversity and expression.                           Achieved

        Reflecting New Zealand’s cultural identity, including Mäori language and culture.                          Achieved

        Stimulating, supporting and reflecting the diversity of cultural expression including drama, comedy,
                                                                                                                   Achieved
        literature and the performing arts.

        Stimulating, supporting and reflecting a wide range of music, including New Zealand composition
                                                                                                                   Achieved
        and performance.




23
                NEW ZEALAND SOCIETY INFORMED, EDUCATED, ENTERTAINED AND ENLIGHTENED, AND NEW ZEALAND

    &           HAVING A STRONG INTELLECTUAL, CULTURAL AND ARTISTIC IDENTITY, EXPRESSION AND LIFE
                Stimulating, supporting and reflecting a wide range of music, including New Zealand composition
                                                                                                                   ACHIEVED

                                                                                                                   Achieved
                and performance.

        Contributing towards intellectual and spiritual development, and fostering critical thought and informed
                                                                                                                   Achieved
        and wide-ranging debate, and providing challenging, innovative and engaging programming.

        Providing reliable, independent and freely accessible news and information, and awareness of the
                                                                                                                   Achieved
        world and of New Zealand’s place in it.

        Stimulating, supporting and reflecting the diversity of cultural expression including drama, comedy,
                                                                                                                   Achieved
        literature and performing arts.




4
        NEW ZEALANDERS HAVING UNIVERSAL ACCESS TO PUBLIC SERVICE BROADCASTING                                      ACHIEVED

        Balancing programmes of special interest with those of wide appeal, recognising the interests
                                                                                                                   Achieved
        of all age groups.

        Taking advantage of the most effective means of delivery.                                                  Achieved

        Ensuring diversity in participation, subject matter and listenership.                                      Achieved

        Providing a strong regional presence and coverage.                                                         Achieved

        Taking account of services provided by other broadcasters.                                                 Achieved




5
        ACCESS FOR PACIFIC PEOPLES TO A TRUSTED SOURCE OF INFORMATION FOR, AND ABOUT, THE REGION                   ACHIEVED
        Providing Radio New Zealand International, an international service to the South Pacific in both English
                                                                                                                   Achieved
        and Pacific languages.




                                                                                                                   14
Performance Management



Objectives                                                                                            Result


1
     MAINTAIN RADIO NEW ZEALAND’S POSITION AS NEW ZEALAND’S PRE-EMINENT PUBLIC SERVICE BROADCASTER    ACHIEVED

     Providing services of the highest quality.                                                        Achieved

     Providing public service broadcasting of value to New Zealand society.                            Achieved

     Providing services of relevance to the public.                                                    Achieved

     Recruiting and retaining talented, capable staff.                                                 Achieved




2
     PRESERVE NEW ZEALAND’S HISTORY AND MAKE IT ACCESSIBLE                                            ACHIEVED

     Acquiring and preserving broadcasting material of historical interest.                          Part Achieved

     Making recordings available to all New Zealanders on request.                                     Achieved




3
     CONTINUED HIGH PUBLIC TRUST AND CONFIDENCE IN RADIO NEW ZEALAND                                  ACHIEVED

     Providing services of the highest quality.                                                        Achieved

     Appropriately exercising freedom of thought and expression.                                       Achieved

     Having a known, trusted and coherent Radio New Zealand brand.                                     Achieved




          15
        1               OutcOme: New ZealaNd HaviNg a HealtHy SeNSe Of citiZeNSHip aNd itS OwN NatiONal ideNtity.




     impact 1:          INFORMING NEW ZEALANDERS ABOUT NEW ZEALAND AND ITS POSITION IN THE WORLD.

     OUTPUTS                                                                     INDICATORS

     Use of a range of distribution methods to enable New Zealanders             Access to Radio New Zealand services through the internet, such as
     living overseas to retain a sense of connection with New Zealand            live streaming, audio-on-demand and podcasting1.

     In-depth New Zealand news and current affairs including coverage of         Listener perceptions of the quality, breadth and depth of
     regional and national issues by authoritative journalists                   Radio New Zealand news coverage, derived from responses to
                                                                                 annual surveys.
                                                                                 Report on Radio New Zealand’s coverage of significant events during
                                                                                 the review period.


STATUS: ACHIEVED
The Radio New Zealand website was accessed approximately eight and a half million times during the period. Live streaming for Radio New Zealand
National was requested over half a million times and Radio New Zealand Concert was requested just over 200,000 times. There were over two
million single items requested through the audio-on-demand service and close to two million podcast downloads. The news content on the website
proved popular with approximately 20% of site traffic accessing the service.
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged
15+ show that 94% of Radio New Zealand National listeners agree that Radio New Zealand provides in-depth news and current affairs about
New Zealand.
Radio New Zealand prides itself on the ability to cover significant news and current affairs events that affect New Zealanders. During the period
this included the following in-depth news and current affairs coverage:
•	   funeral coverage, and celebrations and tributes for the late Sir Edmund Hillary;
•	   the Mangatepopo canyoning tragedy;
•	   outside broadcasts of news programmes at significant events, e.g. agriculture Fieldays at Mystery Creek;
•	   the events and effects of the unexpected eruption on Mt Ruapehu;
•	   regional reporters on the scene providing coverage of the Patea freezing works fire in South Taranaki and Tamahere cool store blaze in Hamilton; and
•	   Rugby World Cup.




     impact 2:         BEING PREDOMINANTLY AND DISTINCTIVELY OF NEW ZEALAND.

     OUTPUTS                                                                     INDICATORS

     Programming that is identifiably New Zealand in origin,                     Local programme hours broadcast:
     content or interest                                                         Radio New Zealand National: 7,900 hours
                                                                                 Radio New Zealand Concert: 8,200 hours
                                                                                 Listener perceptions that Radio New Zealand promotes and supports
                                                                                 a sense of national identity, derived from responses to annual surveys.
                                                                                 Report on New Zealand programming of significance during the period.




1 Live streams and audio-on-demand figures are based on server logs and show the number of times a single item is requested.
  They may be subject to variability due to known issues with server logs.



                                                                                                                                            16
STATUS: ACHIEVED
Programming that was predominantly and distinctively of New Zealand made up 8,037 hours of Radio New Zealand National and 8,687 of
Radio New Zealand Concert’s total broadcast hours against targets of 7,900 hours and 8,200 hours, respectively.
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged 15+
show that 82% of Radio New Zealand listeners agree that Radio New Zealand promotes and supports a sense of national identity.
Programming of significance during the period included:
•	   Saturday Morning with Kim Hill;
•	   Country Life;
•	   book readings, original drama, short stories and children’s stories of New Zealand origin;
•	   Sounds Historical;
•	   Afternoons with Jim Mora, coverage from heartland New Zealand;
•	   15 concerts from the New Zealand International Arts Festival;
•	   recording sessions with New Zealand Symphony Orchestra and SOUNZ;
•	   Summer Report;
•	   music programmes reflecting New Zealand music, e.g. Waiata, New Zealand Live and Made in New Zealand;
•	   extensive coverage of Sir Edmund Hillary’s life and achievements in a major five-hour documentary series;
•	   New Zealand-focused presentation including greetings and sign-offs in te reo Mäori;
•	   rural news bulletins; and
•	   New Zealand bird calls.



                       FOSTERING CRITICAL THOUGHT AND INFORMED AND WIDE-RANGING DEBATE, THEREBY CONTRIBUTING TO GREATER
     impact 3:         TOLERANCE AND UNDERSTANDING.

     OUTPUTS                                                                    INDICATORS

     Informative, stimulating pre-recorded features and documentaries           Listener perceptions that Radio New Zealand promotes critical
     on a wide range of subjects and issues of public interest                  thought and informed debate as derived from responses to annual
                                                                                surveys.
     Informative, stimulating live programmes covering a wide range of          Radio New Zealand will schedule an appropriate mix of quality live
     issues of public interest                                                  and pre-recorded programming and will report on programming of
                                                                                significance during the period.
     Lectures, debates and public events including programmes
     commissioned by Radio New Zealand


STATUS: ACHIEVED
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged 15+
show that 88% of Radio New Zealand listeners agree that Radio New Zealand promotes informed debate.
Programming of significance during the period included:
•	   Morning Report and Checkpoint playing a role in defining and reflecting matters of public interest and debate;
•	   extensive in-depth coverage of politics, e.g. Focus on Politics;
•	   Nine to Noon;
•	   Upbeat;
•	   Afternoons with Jim Mora, including The Panel and Asian Report;
•	   This Way Up;
•	   The Arts on Sunday;
•	   Saturday Morning with Kim Hill;
•	   Sunday Morning with Chris Laidlaw including Insight, Mediawatch, Sunday Group and Ideas;
•	   Sunday 4 ’til 8 programme profiling public events, debates and lectures; and
•	   programming on spiritual and philosophical themes, including Spiritual Outlook, Hymns on Sunday, and church services.
Radio New Zealand broadcast for 8,784 hours during the period; 40% of those hours comprised live current affairs and magazine
format programming.




               17
     impact 4:          REFLECTING AND PROMOTING ETHNIC, CULTURAL AND ARTISTIC DIVERSITY AND EXPRESSION.

     OUTPUTS                                                                       INDICATORS

     Programmes of special interest for broad appeal                               Listener perceptions that Radio New Zealand broadcasts programmes
                                                                                   of wide appeal while also broadcasting programmes of interest to
                                                                                   minority audiences, derived from responses to annual surveys.
                                                                                   Report on programming of significance during the period.

STATUS: ACHIEVED
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged
15+ show that 76% of Radio New Zealand listeners agree that Radio New Zealand provides programmes of wide appeal while also broadcasting
programmes of interest to minority audiences.
Programming of significance included:
•	   The Arts on Sunday;
•	   Asian Report;
•	   book readings, original drama, short stories and children’s stories of New Zealand origin;
•	   Sounds Historical;
•	   Global Sounds;
•	   WOMAD;
•	   Radio New Zealand Concert programming including world music;
•	   Waatea News, Te Ahi Kaa, Pacific news bulletins on Morning Report, Dateline Pacific; and
•	   Storytime Treasure Chest on the Radio New Zealand website.



     impact 5:          REFLECTING NEW ZEALAND’S CULTURAL IDENTITY, INCLUDING MäORI LANGUAGE AND CULTURE.

     OUTPUTS                                                                       INDICATORS

     Programmes of Mäori issues, stories and ideas including programmes            Hours broadcast on Radio New Zealand National:
     produced by people with specialist background and knowledge                   Scheduled Mäori Programming: 170 hours
                                                                                   Scheduled Pacific Programmes: 85 hours
     Programming in te reo Mäori                                                   Report on programming of significance during the period.
                                                                                   Listener perceptions that Radio New Zealand promotes a range of
     Programmes reflecting the cultural and ethnic diversity of
                                                                                   programmes which reflect New Zealand’s cultural diversity, as
     New Zealand society including pre-recorded programmes produced
                                                                                   derived from responses to annual surveys.
     by people with specialist background and knowledge


STATUS: ACHIEVED
Radio New Zealand National broadcast 349 hours that were specific to Mäori language and culture, against a target of 170 hours, and 132 hours of
Pacific programming, against a target of 85 hours.
Programming of significance during the period included:
•	   Mäori Language Week 2007;
•	   Te Ahi Kaa;
•	   He Rourou;
•	   Ma Tatou;
•	   book readings, original drama, short stories and children’s stories of New Zealand origin;
•	   Our Changing World;
•	   One in Five;
•	   Spectrum;
•	   Auckland Story;
•	   Asian Report;
•	   Waatea News; and
•	   New Zealand-focused presentation including greetings and sign-offs in te reo Mäori.
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged
15+ show that 83% of Radio New Zealand listeners agree that Radio New Zealand provides a range of programmes which reflect New Zealand’s
cultural diversity.


                                                                                                                                         18
                        STIMULATING, SUPPORTING AND REFLECTING THE DIVERSITY OF CULTURAL EXPRESSION INCLUDING DRAMA, COMEDY,
     impact 6:          LITERATURE AND THE PERFORMING ARTS.

     OUTPUTS                                                                       INDICATORS

     Entertainment and arts programmes including New Zealand drama,                Actual scheduled hours broadcast on Radio New Zealand National of
     comedy and fiction                                                            locally sourced drama, fiction and comedy: 250 hours
                                                                                   Report on programming of significance during the period.


STATUS: ACHIEVED
Radio New Zealand National broadcast 257 hours of locally sourced drama, fiction and comedy, against a target of 250 hours.
Programming of significance included:
•	   The Arts on Sunday;
•	   Saturday Morning with Kim Hill;
•	   book readings, original drama, short stories and children’s stories of New Zealand origin;
•	   Sounds Historical;
•	   Upbeat;
•	   coverage of the New Zealand International Arts Festival;
•	   Summer Report including New Zealand comedy; and
•	   extensive and authoritative book reviews.


                        STIMULATING, SUPPORTING AND REFLECTING A WIDE RANGE OF MUSIC, INCLUDING NEW ZEALAND COMPOSITION
     impact 7:          AND PERFORMANCE.

     OUTPUTS                                                                       INDICATORS

     New Zealand music and programmes about New Zealand music and                  New Zealand music percentages:
     musicians                                                                     Radio New Zealand National: 35% on rotate
                                                                                   Radio New Zealand Concert: 3.5% New Zealand composed music
     Recording programmes of various live studio and public New Zealand            Radio New Zealand Concert: 14% New Zealand performed music
     music and performance
                                                                                   Radio New Zealand National and Radio New Zealand Concert will
                                                                                   broadcast New Zealand music programming including both live and
                                                                                   recorded New Zealand performance and will report on programming
                                                                                   of significance during the period.


STATUS: ACHIEVED
Of the music broadcast on rotate by Radio New Zealand National, 39.5% was of New Zealand origin, against a target of 35%. Radio New Zealand
Concert broadcast 4.5% of New Zealand composed music and 15.3% of New Zealand performed music, against targets of 3.5% and 14% respectively.
Programming of significance included:
•	   Sound Lounge;
•	   New Zealand Live;
•	   Sounds Historical;
•	   Music Alive, including 240 broadcasts of concerts recorded in New Zealand;
•	   Saturday Concert;
•	   Upbeat;
•	   Music 101 including Musical Chairs;
•	   The Music Mix;
•	   increased New Zealand music availability online via Radio New Zealand podcasts;
•	   Wayne’s Music;
•	   Saturday Night with Peter Fry;
•	   Hidden Treasures;
•	   Appointment; and
•	   Enzology documentary made available in full on the Radio New Zealand website.




               19
     23    &              OutcOmeS: New ZealaNd SOciety iNfOrmed, educated, eNtertaiNed aNd eNligHteNed, aNd
                          New ZealaNd HaviNg a StrONg iNtellectual, cultural aNd artiStic ideNtity, expreSSiON aNd life.



                         STIMULATING, SUPPORTING AND REFLECTING A WIDE RANGE OF MUSIC, INCLUDING NEW ZEALAND COMPOSITION
     impact 1:           AND PERFORMANCE.

     OUTPUTS                                                                      INDICATORS

     Music, and programmes about music and musicians                              Radio New Zealand National and Radio New Zealand Concert will
                                                                                  broadcast a mix of music programming including both live and
     Recording and broadcast of various live studio and public                    recorded New Zealand performance and will report on programming
     musical performances                                                         of significance during the period.

STATUS: ACHIEVED
Over 11% of Radio New Zealand National’s broadcast hours were music features with a mix of live and pre-recorded programmes. Radio New Zealand
Concert broadcast 97% of musical programming.
Programming of significance during the period included:
•	   Music 101;                                                              •	 Waiata;
•	   Musical Chairs;                                                         •	 a wide range of live music events were recorded for both networks
•	   Access All Areas;                                                          including New Zealand Symphony Orchestra Exploring Antarctica,
•	   The Music Mix;                                                             Auckland Philharmonia Orchestra, WOMAD and the Gold Guitar Awards;
•	   Charlie Gillett’s World of Music;                                       •	 Sounds Historical;
•	   Jazz Footprints;                                                        •	 New Zealand Live;
•	   Beale Street Caravan;                                                   •	 Hidden Treasures;
•	   Wayne’s Music;                                                          •	 Upbeat; and
•	   The Sampler;                                                            •	 Nine to Noon including Marty Duda and Manu Taylor.
•	   Saturday Night With Peter Fry;


                         CONTRIBUTING TOWARDS INTELLECTUAL AND SPIRITUAL DEVELOPMENT, AND FOSTERING CRITICAL THOUGHT, INFORMED
     impact 2:           AND WIDE-RANGING DEBATE, AND PROVIDING CHALLENGING, INNOVATIVE AND ENGAGING PROGRAMMING.

     OUTPUTS                                                                      INDICATORS

     Informative, stimulating pre-recorded features and documentaries on a        Radio New Zealand will schedule an appropriate mix of quality live
     wide range of subjects and issues of public interest                         and pre-recorded programming and will report on programming of
                                                                                  significance during the period.
     Informative, stimulating live programmes covering a wide range of
     issues of public interest

     Lectures, debates and public events including programmes
     commissioned by Radio New Zealand


STATUS: ACHIEVED
During the period, Radio New Zealand National broadcast for 8,784 hours. 40% of broadcast hours comprised live current affairs and magazine
format programming.
Programming of significance during the period included:
•	 Sunday Morning with Chris Laidlaw including Insight, Mediawatch,          •	   Our Changing World;
   Sunday Group and Ideas;                                                   •	   Sunday 4 ’til 8 programme profiling public events, debates and lectures;
•	 Saturday Morning with Kim Hill;                                           •	   Focus on Politics;
•	 Asian Report;                                                             •	   Morning Report; and
•	 programming on spiritual and philosophical themes, including Spiritual    •	   Checkpoint.
   Outlook, Hymns on Sunday, and church services;




                                                                                                                                           20
                          PROVIDING RELIABLE, INDEPENDENT AND FREELY ACCESSIBLE NEWS AND INFORMATION, AND AWARENESS OF THE WORLD
     impact 3:            AND OF NEW ZEALAND’S PLACE IN IT.

     OUTPUTS                                                                   INDICATORS

     Comprehensive, independent, accurate, impartial and balanced              Percentage of news and current affairs hours broadcast on:
     regional, national and international news and current affairs             Radio New Zealand National: 26%
                                                                               Radio New Zealand Concert: 3.5%
                                                                               Report on coverage of significant events during the period.

STATUS: ACHIEVED
Programming that provided reliable, independent and freely accessible news and information, and awareness of the world and New Zealand made
up 55% of Radio New Zealand National’s total broadcast hours and 3% of Radio New Zealand Concert’s total broadcast hours, against targets of 26%,
and 3.5%, respectively.
Programming of significance included:


•	 the Political Correspondent accompanying the Foreign Affairs Minister      •	 funeral coverage, and celebrations and tributes for the late
   on his visit to North Korea and reporting on Six Party Talks covering         Sir Edmund Hillary;
   denuclearisation of North Korea;                                           •	 the Mangatepopo canyoning tragedy;
•	 the Political Correspondent visiting Australia and reporting on the 2007   •	 the events and effects of the unexpected eruption on Mt Ruapehu;
   general election;                                                          •	 regional reporters on the scene providing coverage of the Patea
•	 the Political Correspondent reporting on the Melbourne 2007 APEC talks;       freezing works fire in South Taranaki and the Tamahere cool store blaze
•	 sporting coverage including Netball World Championships in Auckland,          in Hamilton, and extensive coverage of the controversial nationwide
   New Zealand Open golf tournament in Queenstown and the Rugby                  raids on environmental and Mäori groups; and
   World Cup;                                                                 •	 Radio New Zealand International – Pacific Forum coverage.


                          STIMULATING, SUPPORTING AND REFLECTING THE DIVERSITY OF CULTURAL EXPRESSION INCLUDING DRAMA, COMEDY,
     impact 4:            LITERATURE AND THE PERFORMING ARTS.

     OUTPUTS                                                                   INDICATORS

     Live programmes and pre-recorded documentaries and features               Actual hours broadcast on Radio New Zealand National of:
     that address cultural and artistic endeavours
                                                                               Scheduled drama, fiction and comedy: 350 hours
     Entertainment and arts programmes including drama, comedy                 Listener perceptions that Radio New Zealand supports New Zealand
     and fiction                                                               performing arts and artists, as derived from responses to
     Performances of art, drama, comedy, non-fiction and fiction including     annual surveys.
     works commissioned by Radio New Zealand                                   Report on programming of significance during the period.


STATUS: ACHIEVED
Radio New Zealand National broadcast 341 hours of drama, fiction and comedy, against a target of 350 hours.
75% of Radio New Zealand’s drama programmes were of New Zealand origin.
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged 15+
show that 81% of Radio New Zealand listeners agree that Radio New Zealand provides programming which supports New Zealand music, and other
performing arts and artists.
Programming of significance included:
•	   New Horizons;                                                            •	 School Journal Project;
•	   Appointment;                                                             •	 The Arts on Sunday;
•	   The Poet;                                                                •	 book readings, original drama, short stories and children’s stories
•	   Landscapes;                                                                 of New Zealand origin; and
•	   Sounds Historical;                                                       •	 Summer Report including New Zealand comedy.
•	   One in Five;




               21
       4               OutcOme: New ZealaNderS HaviNg uNiverSal acceSS tO public Service brOadcaStiNg.




                       BALANCING PROGRAMMES OF SPECIAL INTEREST WITH THOSE OF WIDE APPEAL, RECOGNISING THE INTERESTS
     impact 1:         OF ALL AGE GROUPS.

     OUTPUTS                                                                 INDICATORS

     Programmes of special interest for broad appeal                         Listener perceptions that Radio New Zealand broadcasts programmes
                                                                             of wide appeal while also broadcasting programmes of interest to
                                                                             minority audiences, derived from responses to annual surveys.
                                                                             Report on programming of significance during the period.

     A diverse schedule providing a wide range of programmes of interest     Listener perceptions that Radio New Zealand provides a wide range
     to New Zealanders                                                       of programmes of interest to New Zealanders, as derived from
                                                                             responses to annual surveys.
                                                                             Report on the diversity of programming.


STATUS: ACHIEVED
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged 15+
show that:
•	 84% of Radio New Zealand listeners agree that Radio New Zealand broadcasts programmes of interest to a wide cross-section of
   New Zealanders; and
•	 76% of Radio New Zealand listeners agree that Radio New Zealand broadcasts programmes of wide appeal while also broadcasting programmes of
   interest to minority audiences. Only 4% of listeners disagreed and the remainder were neutral (17%) or didn’t know (3%).
Programming of diversity and significance included:
•	   This Way Up;
•	   Afternoons with Jim Mora including Reeling in the Years and Tune Your Engine;
•	   Ideas;
•	   Our Changing World;
•	   Spectrum;
•	   Country Life;
•	   One in Five;
•	   jazz programmes including The Art of Jazz;
•	   Saturday Night with Peter Fry;
•	   Vintage Years;
•	   Sounds Historical;
•	   Young New Zealand, including 52 broadcasts of young musicians recorded around the country;
•	   Insight and Focus on Politics;
•	   Storytime; and
•	   Music 101.




                                                                                                                                        22
  impact 2:          TAKING ADVANTAGE OF THE MOST EFFECTIVE MEANS OF DELIVERY.

Transmission coverage is measured in terms of the percentage of the total New Zealand population able to receive the network signal.

  OUTPUTS                                                                    INDICATORS

  Maintenance of the current FM transmission networks                        Radio New Zealand National: 90% coverage
                                                                             Radio New Zealand Concert: 92% coverage

  Maintenance of the current AM transmission network                         Radio New Zealand National: 96% coverage

  Availability of Radio New Zealand networks via digital satellite           Radio New Zealand National: 100% coverage
                                                                             Radio New Zealand Concert: 100% coverage

  Website services including audio-on-demand, live streaming                 Achieved if site unavailability time, other than for programmed
  and podcasting                                                             maintenance, does not exceed: 1%.

  Maintenance of AM/FM transmission services                                 Achieved if transmission time lost, other than for programmed
                                                                             maintenance, does not exceed:
                                                                             Radio New Zealand National: 0.1%
                                                                             Radio New Zealand Concert: 0.1%


STATUS: ACHIEVED

This impact was achieved through the following:

  OUTPUTS                                                                    ACHIEVEMENTS

  Radio New Zealand National FM coverage                                     90%
  Radio New Zealand Concert FM coverage                                      92%

  Radio New Zealand National AM coverage                                     96%

  Radio New Zealand digital satellite coverage                               100%

  Website unavailability                                                     0.06%

  Outage of AM/FM transmission services                                      Average across AM/FM networks 0.04%




  impact 3:          eNSuriNg diverSity iN participatiON, Subject matter, aNd liSteNerSHip.

  OUTPUTS                                                                    INDICATORS

  Geographic, social and cultural diversity of programme content and         Report on programming of significance during the period.
  participants


STATUS: ACHIEVED
Radio New Zealand National broadcast 100% of programming hours that were diverse in audience participation, content and listenership.
The programming schedule included:
•	 News – Regular hourly and at peak times twice hourly bulletins, Morning Report, Checkpoint, Mediawatch, Worldwatch,
   Focus on Politics, Rural News, Sports News, Waatea News and Tagata o te Moana;
•	 Culture – Asian Report, Country Life, He Rourou, Storytime, Sunday Drama, Sounds Historical and Global Sounds;
•	 Debate – The Panel, Saturday Morning, Sunday Group, Afternoons, Ideas, and Insight;
•	 Special interest – One in Five, Spectrum, Spiritual Outlook, Our Changing World, Brainstorm and Sunday 4 ’til 8; and
•	 Music – The Art of Jazz, Hymns on Sunday, Waiata, Music Alive and Music 101.




            23
Programming of significance from Radio New Zealand National and Radio New Zealand Concert included:
•	 In Touch With New Zealand broadcast from regional locations including Riverton and Hokianga;
•	 Your Place broadcast a weekly afternoon programme from places including: Tuakau, Opotiki, Featherston, Duntroon,
   Glenorchy, Governors Bay, Tirau, Takaka and Rakaia;
•	 Spectrum (52 regional programmes);
•	 Country Life (144 regional segments); and
•	 book readings, original drama, short stories and children’s stories of New Zealand origin.




     impact 4:          prOvidiNg a StrONg regiONal preSeNce aNd cOverage.

     OUTPUTS                                                                 INDICATORS

     A network of regional correspondents                                    Maintenance of at least seven district and regional offices.

     Diverse geographic programme content and participation                  Regular broadcasting from regional locations.
                                                                             Report on programming of significance during the period.


STATUS: ACHIEVED
Radio New Zealand operated 12 district and regional news offices based in Whangarei, Hamilton, Tauranga, Napier, New Plymouth,
Palmerston North, Nelson, Dunedin, Queenstown, Christchurch, Auckland and Wellington.
Radio New Zealand broadcast news bulletins daily, every hour, also twice hourly during peak listening times; the news service covered
mainstream news as well as specialist news, which included:
•	   Morning Report;
•	   Midday Report;
•	   Checkpoint;
•	   Business News;
•	   Focus on Politics;
•	   Insight;
•	   Mäori news;
•	   Pacific news;
•	   rural and agricultural news; and
•	   sports news.
Radio New Zealand National and Radio New Zealand Concert contributed to the achievement of this outcome through the
recording and/or broadcasting of programmes from regional locations. Programming of significance during the period included:
•	 The Arts on Sunday broadcast from Dunedin, Auckland and Christchurch;
•	 Afternoons with Jim Mora produced over 160 heartland New Zealand stories ranging from developing news, current affairs,
   music, sports, food, cultural and regional issues;
•	 Spectrum (52 regional programmes);
•	 live news bulletins from regional locations;
•	 Country Life (144 regional segments);
•	 Our Changing World; and
•	 Mediawatch.




                                                                                                                                       24
     impact 5:         takiNg accOuNt Of ServiceS prOvided by OtHer brOadcaSterS.

     OUTPUTS                                                                  INDICATORS

     Programmes for New Zealanders whose interests are not served by          Radio New Zealand will deliver programming that is demonstrably
     other broadcasters                                                       different from other broadcasters.
                                                                              Report on programming of significance during the period.
     Programmes which offer an alternative to other broadcasters
                                                                              Listener perceptions that Radio New Zealand broadcasts
                                                                              programmes not generally found on other radio stations, as derived
                                                                              from responses to annual surveys.


STATUS: ACHIEVED
Radio New Zealand delivered programming covering the diverse cultures that make up New Zealand’s unique identity. This was discernibly
different from other broadcasters who delivered programmes in particular formats to meet the needs of a more narrow audience. Other attractions
for the audience were detailed, uninterrupted and commercial free news and programming, with high editorial principles and a strong tradition
of editorial independence.
Radio New Zealand News provided a service to listeners that could not be compared with other broadcasters. News bulletins were provided
hourly and twice hourly 365 days of the year. In addition, particular programmes such as Focus on Politics were unique to Radio New Zealand.
No other stations provided a service as comprehensive as the one Radio New Zealand provides.
Radio New Zealand Concert’s music format was demonstrably different, being the only New Zealand broadcaster offering a classical music
service. A further accent on the esoteric end of jazz and ethnic world music satisfied other minority audiences.
Programming of significance for Radio New Zealand during the period included:
•	   Wellington International Jazz Festival;
•	   Auckland Philharmonia’s Splendour of the Baroque and Beethoven series;
•	   Gisborne Music Competition;
•	   New Zealand Symphony Orchestra with Salmonella Dub;
•	   Auckland Piano Festival;
•	   New Zealand International Arts Festival events;
•	   The Arts on Sunday; and
•	   One in Five.
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged 15+
show that 85% of Radio New Zealand listeners agree that Radio New Zealand broadcasts programmes not generally found on other radio stations.




               25
  5               OutcOme: acceSS fOr pacific peOpleS tO a truSted SOurce Of iNfOrmatiON fOr,
                  aNd abOut, tHe regiON.




                  PROVIDING RADIO NEW ZEALAND INTERNATIONAL, AN INTERNATIONAL SERVICE TO THE SOUTH PACIFIC
impact 1:         IN BOTH ENGLISH AND PACIFIC LANGUAGES.

OUTPUTS                                                         INDICATORS

Range of programmes including Pacific news                      Radio New Zealand International will broadcast primarily original
                                                                programming to the Pacific and also rebroadcast selected
                                                                programming from Radio New Zealand National.
                                                                Achieved if Radio New Zealand International is widely rebroadcast in
                                                                the Pacific throughout the year.
                                                                Report on programming of significance during the period.

Transmission of Radio New Zealand International to the          Coverage is measured by geographic location and grade of
South Pacific                                                   transmission. Transmission grades at each site are measured by the
                                                                average hours of good quality reception available per day and are
                                                                Primary, 18 hours; Secondary, 12 hours; and General, 6 hours.
                                                                Coverage goals are:
                                                                Primary coverage – French Polynesia, Cook Islands, Tokelau,
                                                                American Samoa, Samoa, Niue, Tonga, Wallis and Futuna, Fiji, Tuvalu,
                                                                New Caledonia, Vanuatu and Solomon Islands.
                                                                Secondary coverage – Papua New Guinea, Nauru, Kiribati, Federated
                                                                States of Micronesia, Marshall Islands and Palau.
                                                                General coverage – Asia/Pacific and Pacific Rim. Note: Asian coverage
                                                                is achieved through Radio Australia’s rebroadcast of selected
                                                                material.

Maintenance of transmission services                            Achieved if transmission time lost, other than for programmed
                                                                maintenance, does not exceed:
                                                                Radio New Zealand International: 1%.




                                                                                                                         26
STATUS: ACHIEVED
Radio New Zealand International broadcast a range of news and programmes for, and about, the Pacific. These included:
•	   Dateline Pacific;
•	   Tagata o te Moana;
•	   Trade Winds;
•	   Pacific Correspondent;
•	   news and current affairs about the Pacific;
•	   business and sports news;
•	   world news; and
•	   New Zealand news and bulletins in Pacific languages.
Radio New Zealand International rebroadcast a range of Radio New Zealand National programmes including:
•	   Checkpoint;
•	   Midday Report;
•	   Late Edition;
•	   parts of Morning Report;
•	   weekend Radio New Zealand National programming;
•	   Insight;
•	   Spectrum;
•	   Mäori programming; and
•	   Radio New Zealand news bulletins.
Eighteen Pacific radio stations relayed Radio New Zealand International during the period.
Programme highlights this year included coverage of:
•	   Fiji’s interim government and relations with New Zealand and the Pacific;
•	   elections in Niue, Tonga, Kiribati, Papua New Guinea, French Polynesia, Solomon Islands and Nauru;
•	   South Pacific Games in Samoa;
•	   Pacific Forum meeting in Tonga;
•	   referendum in Tokelau;
•	   media freedom restrictions and concern in Fiji and Tonga;
•	   seasonal workers from Pacific scheme in New Zealand;
•	   deaths of Bougainville President Joseph Kabui and former Cook Islands Prime Minister Sir Tom Davis;
•	   political upheaval in French Polynesia; and
•	   Melanesian Spearhead Group meeting in Vanuatu.
Transmission coverage was achieved and details of the geographical coverage are provided under the section Statement of Service Performance.
Additional coverage in Asia was achieved through Radio Australia’s rebroadcast of selected Radio New Zealand International material on their
satellite services across Asia and also through relays by the BBC World Service.
Transmission outage – Radio New Zealand International lost an average of 0.6% of broadcasting time over its transmitters (other than for scheduled
maintenance) against a target average of 1.0%.




               27
       1               Objective: maiNtaiN radiO New ZealaNd’S pOSitiON aS New ZealaNd’S pre-emiNeNt
                       public Service brOadcaSter.




   impact 1:          PROVIDING SERVICES OF THE HIGHEST qUALITY.

  OUTPUTS                                                                         INDICATORS

  Programmes which are authoritative, informative and challenging                 Listener perceptions that Radio New Zealand contributes to the
                                                                                  development of an informed society, as derived from responses to
                                                                                  annual surveys.
  Programmes based on in-depth research, knowledge and expertise                  Report on significant achievements, external awards and peer
                                                                                  recognition during the period.

  Programmes which achieve the highest technical, craft and                       Report on significant technological developments and initiatives
  broadcasting standards                                                          undertaken during the period.


  Technology upgrades


STATUS: ACHIEVED
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged 15+
show that 91% of Radio New Zealand listeners agree that Radio New Zealand contributes to the development of an informed society.
Significant achievements during the period included:
•	 Radio New Zealand won the following nine categories at the 2008 New Zealand Radio Awards:
   – Best Newsreader: Hewitt Humphrey;
   – Best Coverage of a News Story: Radio New Zealand News (Police Raids);
   – Individual Radio Journalist of the Year: Matthew Farrell;
   – Best New Broadcaster: Nadine Chalmers-Ross;
   – Best Daily/Weekly Series under 1 Hour: Composer of the Week, Radio New Zealand Concert; and
   – Best Daily/Weekly Series 1 Hour or more: Morning Report, Radio New Zealand National;
   – Best Dramatic Production: King and Country, Radio New Zealand National;
   – Best Recorded Live Music Event: New Zealand Symphony Orchestra 60th Anniversary Concert, and Radio New Zealand Concert; and
   – Best Studio or Outside Broadcast Recording: Dudley Benson Live; and Radio New Zealand National.
•	 The drama 25th April: a True Fiction was awarded the Premier Media Peace Award at the annual New Zealand Peace Foundation Peace Awards.
•	 Radio New Zealand was the Supreme Award winner of the 2007 Mäori Language Week Awards.
•	 Radio New Zealand International was the winner of the International Radio Station of the Year Award at the Association for International Broadcasting (AIB)
   Media Excellence Awards.
•	 Radio New Zealand International was the winner of the Most Innovative Partnership category at the Association for International Broadcasting (AIB)
   Media Excellence Awards.
•	 Radio New Zealand International was the winner of a special award for significant achievement at the New Zealand Peace Foundation Media Awards.
•	 Radio New Zealand Concert recordings were featured internationally by other public service broadcasters. New Zealand music recorded
   by Radio New Zealand Concert was broadcast in Australia and Europe through programme exchange with the ABC and the EBU (European
   Broadcasting Union), including the New Zealand Symphony Orchestra, Auckland Philharmonia Orchestra, New Zealand String Quartet, New Zealand
   Symphony Orchestra National Youth Orchestra and Christchurch Symphony.
Technology upgrades:
•	 Freeview Terrestrial transmission (Freeview HD) commenced on 2 April and was officially launched on 14 April. Radio New Zealand National and
   Concert are both available in stereo on that platform.




                                                                                                                                               28
  impact 2:           PROVIDING PUBLIC SERVICE BROADCASTING OF VALUE TO NEW ZEALAND SOCIETY

  OUTPUTS                                                                      INDICATORS

  Charter-compliant provision of all Radio New Zealand services                Public perceptions of the value of Radio New Zealand’s public service
                                                                               broadcasting role as derived from responses to annual surveys.


STATUS: ACHIEVED
Results from the 2007-2008 Radio New Zealand Value Indices Research, conducted nationwide by The Nielsen Company among all New Zealanders
aged 15+, show that:
•	 83% of New Zealanders agree that it is important for New Zealand to have a public service radio broadcaster; 8% disagree, 6% neither agree nor disagree
   and 3% don’t know; and
•	 75% of New Zealanders agree that Radio New Zealand provides a valuable service for New Zealanders; 7% disagree, 8% neither agree nor disagree and
   10% don’t know.




  impact 3:           PROVIDING SERVICES OF RELEVANCE TO THE PUBLIC.

  OUTPUTS                                                                      INDICATORS

    Radio New Zealand will undertake research of radio listening to            As Radio New Zealand has embraced a multiplicity of delivery
    monitor audience trends                                                    platforms including both live and on-demand services, it is no longer
                                                                               possible to fully report on audience based on snap-shot radio
                                                                               surveys. Radio New Zealand will report annually on its audience
                                                                               across various platforms.
                                                                               Report on significant trends and indicators in internet-based
                                                                               service use.


STATUS: ACHIEVED
Radio New Zealand has undertaken several audience surveys during 2007-2008:

The 2007-2008 All New Zealand Radio Survey
Conducted by The Nielsen Company, the All New Zealand Radio Survey is fully representative, nationwide, and conducted among all people
aged 15+. It is designed to monitor audience listening trends and has survey diaries in the field continuously for 40 weeks of the year.
Continuous surveying is a move away from the traditional six to eight week ‘snapshot’ survey undertaken by Radio New Zealand prior to
2007-2008. Over the 40 week surveying period the sample size for 2007-2008 was over 4,000 respondents.

The 2007-2008 Radio New Zealand Listener Survey
The Radio New Zealand Listener Survey is undertaken by The Nielsen Company as an extension of the All New Zealand Radio Survey and is
conducted among listeners to Radio New Zealand National and Radio New Zealand Concert. Respondents are asked about their listening and how
well they think Radio New Zealand performs against Charter criteria. The sample size exceeded 600 listeners.

2007-2008 Radio New Zealand Value Indices Research
The Radio New Zealand Value Indices Research undertaken by The Nielsen Company is a fully representative nationwide survey among all
New Zealanders (both listeners and non-listeners) aged 15+, designed to measure the perceived importance and value of Radio New Zealand
services to all New Zealanders. In each telephone survey conducted among the general public, 1,000 people were interviewed. The 2007-2008
surveys were carried out in September 2007 and March 2008.
A summary of the audience research results are presented on page 7 of this Annual Report.
While live streaming through the website is captured in the normal 40 week surveys, time-shifted listening such as audio-on-demand or
podcasting is not.




             29
Time-shifted listening represents additional listening, above and beyond the live audience figures reported during the period. Time-shifted
listening reaches new audiences for Radio New Zealand, such as New Zealanders living overseas. Since the launch of the current version of the
Radio New Zealand website there has been steady growth in website listening – see the table below:


   WEBSITE ACTIVITY    2
                                                                                                                2007-2008           2006-2007

  Number of times website was accessed                                                                           8,525,601           8,107,783

  Live stream access (Radio New Zealand National)                                                                  791,406              496,207

  Live stream access (Radio New Zealand Concert)                                                                   257,058              200,056

  Number of audio-on-demand requests                                                                             2,058,449           1,452,566

  Number of podcast files downloaded                                                                             2,247,218              969,240




  impact 4:           RECRUITING AND RETAINING TALENTED, CAPABLE STAFF.

  OUTPUTS                                                                     INDICATORS

  Initiatives to attract, develop and retain staff of the                     Staff turnover in line with public sector norms.
  highest calibre                                                             Radio New Zealand will report on turnover.

  Development of integrated remuneration framework                            Remuneration strategy implemented.


STATUS: ACHIEVED
The annual staff turnover within Radio New Zealand to 30 June 2008 was 11.3%. This was a marginal decrease against the staff turnover for the
year ended 30 June 2007, which was 11.6%. Whilst the public sector average turnover for the year to 30 June 2008 was not available at the time
of publication, it is predicted to be higher than the 14% recorded for the public sector in the previous year.
A Baseline Funding Review was completed during the period and the final report by consultants KPMG was accepted by the Steering Group
(representing the Ministry for Culture and Heritage, the Crown Company Monitoring Advisory Unit, NZ On Air and Radio New Zealand). The report
highlighted in particular that the company’s remuneration was assessed as being significantly behind public sector norms. This was addressed
in part by a 6% salary adjustment from 1 July 2008.




2 Live streams and audio-on-demand figures are based on server logs and show the number of times a single item is requested.
  They may be subject to variability due to known issues with server logs.



                                                                                                                                   30
     2                Objective: preServe New ZealaNd’S HiStOry aNd make it acceSSible.




   impact 1:          ACqUIRING AND PRESERVING BROADCASTING MATERIAL OF HISTORICAL INTEREST.

  OUTPUTS                                                                  INDICATORS

  Material acquired                                                        Target hours: 1,300

  Material preserved                                                       Target hours: 1,900


STATUS: PART ACHIEVED
This impact was part achieved through the following:

  OUTPUTS                                                                  ACHIEVEMENTS

  Material acquired                                                        2,324 hours

  Material preserved                                                       1,828 hours


The archive is resourced to manage just 100 hours of historical material per year. The growing backlog of material acquisitioned has hampered the
preservation programme.




  impact 2:           MAKING RECORDINGS AVAILABLE TO ALL NEW ZEALANDERS ON REqUEST.

  OUTPUTS                                                                  INDICATORS

  Material available, accessible and provided                              Public access to the archives.


STATUS: ACHIEVED
During the period material was accessed through Sound Archives/Ngä Taonga Körero, by members of the public, students and researchers, libraries
and museums, and broadcasters and programme producers. Material was made available and accessed on-site at Auckland and Christchurch; the
bulk of the material was distributed via CD for listening.




            31
     3               Objective: cONtiNued HigH public truSt aNd cONfideNce iN radiO New ZealaNd.




   impact 1:         PROVIDING SERVICES OF THE HIGHEST qUALITY.

  OUTPUTS                                                                   INDICATORS

  Ongoing qualitative performance and content reviews within                An ongoing internal assessment of programming against the relevance
  programmes and departments                                                and quality requirements of the Radio New Zealand Charter.
                                                                            Listeners’ perception of the “quality” of Radio New Zealand programming
                                                                            derived from responses to annual surveys.

  Implementation of editorial policy                                        Listener perceptions of the fairness and balance of information in
                                                                            Radio New Zealand programming derived from responses to annual
                                                                            surveys.

  Charter review                                                            The next review is expected to be initiated in 2011.




STATUS: ACHIEVED
Radio New Zealand continued to adjust programming to meet Charter requirements through a process of internal monitoring and collaboration
with senior management and production and programming departments.
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged 15+
show that:
•	 86% of Radio New Zealand National listeners are satisfied with network programming, 12% are neither satisfied nor dissatisfied and just
   2% are dissatisfied;
•	 79% of Radio New Zealand Concert listeners are satisfied with network programming, 20% are neither satisfied nor dissatisfied and just
   1% are dissatisfied; and
•	 89% of Radio New Zealand listeners agree that Radio New Zealand provides fair and balanced information, 2% disagree and the remainder are
   either neutral (8%) or don’t know (1%).
During mid 2007-2008 Radio New Zealand, consistent with its requirement to regularly review our Charter, prepared a draft submission to the
House of Representatives. The proposed Charter has taken on board audience feedback and analysis of listenership from audience research to
better reflect New Zealand society. Acceptance of the revised Charter remains unresolved; however, the organisation is committed to the
proposed outline and continues to plan towards a resolution during 2008-2009.




  impact 2:          APPROPRIATELY EXERCISING FREEDOM OF THOUGHT AND EXPRESSION.

  OUTPUTS                                                                   INDICATORS

  Retention of editorial independence                                       Radio New Zealand and its stakeholders will adhere to the
                                                                            requirements of section 13 of the Radio New Zealand Act 1995.
                                                                            Adherence to Radio New Zealand’s commercial-free status.
                                                                            Public trust and confidence in Radio New Zealand’s independence,
                                                                            derived from responses to annual surveys.

  Compliance with legislated standards under the Radio Code of              Radio New Zealand will report annually on any formal complaints
  Broadcasting Practice and the Broadcasting Act 1989                       which were upheld.

  Adherence to the Radio New Zealand editorial policy manual                Radio New Zealand will maintain a robust internal system of
                                                                            compliance with its own internal policies and procedures.




                                                                                                                                      32
STATUS: ACHIEVED
The editorial policies reflect the provisions of the Radio New Zealand Act 1995, which precludes ministerial direction relating to programming
and the placement of commercial advertising. There were no breaches of the policy with respect to these matters.
Results from the 2007-2008 Radio New Zealand Listener Survey conducted by The Nielsen Company among Radio New Zealand listeners aged
15+ show that 89% of Radio New Zealand listeners agree that Radio New Zealand provides fair and balanced information.
Complaints against two programmes were upheld by the Broadcasting Standards Authority during the year. One, a news item that was found to
be inaccurate and unfair, related to the previous financial year. The other related to a current affairs interview and the Broadcasting Standards
Authority, while rejecting a number of complaints against the programme, found that it lacked balance in one aspect.
Radio New Zealand established a comprehensive manual of editorial policies in 2005 and republished it in 2007. It is continually reviewed and
updated against industry standards, including online protocols and the use and security of external contacts. This manual is available on the
Radio New Zealand website for public access.
All Radio New Zealand staff and contracted programme makers are required to comply with the editorial policies and procedures, Charter obligations
and Broadcasting Standards.




     impact 3:          A KNOWN, TRUSTED AND COHERENT RADIO NEW ZEALAND BRAND.

     OUTPUTS                                                                   INDICATORS

     Public recognition of the public service broadcasting role performed by   Public perceptions of the value of Radio New Zealand’s public service
     Radio New Zealand                                                         broadcasting role as derived from responses to annual surveys.

     Branding work to strengthen the alignment between Radio                   Qualitative research of listeners and non-listeners to determine
     New Zealand brands and public service broadcasting values                 brand awareness and brand response.


STATUS: ACHIEVED
Results from the 2007-2008 Radio New Zealand Value Indices Research, conducted nationwide by The Nielsen Company among all New Zealanders
aged 15+, show that:
•	 83% of New Zealanders agree that it is important for New Zealand to have a public service radio broadcaster; 8% disagree, 6% neither agree nor disagree
   and 3% don’t know; and
•	 75% of New Zealanders believe that Radio New Zealand provides a valuable service for New Zealanders; 7% disagree, 8% neither agree nor disagree
   and10% don’t know.
Further results from the 2007-2008 Radio New Zealand Value Indices Research show that:
•	   64% of New Zealanders are aware that Radio New Zealand is New Zealand’s public service radio broadcaster;
•	   70% of New Zealanders have heard of Radio New Zealand National;
•	   57% of New Zealanders have heard of Radio New Zealand Concert; and
•	   27% of New Zealanders haven’t heard of either Radio New Zealand National or Radio New Zealand Concert.




               33
Financial Performance 2007/2008




STATEMENT OF CORPORATE GOVERNANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 35
STATEMENT OF RESPONSIBILITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 36
AUDIT REPORT .......... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 37
STATEMENT SPECIFYING FINANCIAL PERFORMANCE . . . . . . . . . . . . . . . . . . . . . . . ................................................... 39
INCOME STATEMENT .... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 40
STATEMENT OF CHANGES IN EqUITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 40
BALANCE SHEET ........ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 41
CASH FLOW STATEMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 42
NOTES TO THE FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 43
1     STATEMENT OF ACCOUNTING POLICIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 43
2     REVENUE FROM CROWN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 47
3     OTHER REVENUE ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 47
4     PERSONNEL COSTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 47
5     OTHER EXPENDITURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 48
6     TAXATION ............ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 48
7     CASH AND CASH EqUIVALENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 49
8     DEBTORS ........... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 49
9     INTANGIBLE ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 49
10 PROPERTY, PLANT AND EqUIPMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 50
11 CREDITORS AND OTHER PAYABLES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 51
12 EMPLOYEE ENTITLEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 52
13 BANK LOAN.......... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 52
14 PROVISIONS ......... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 52
15 REDEEMABLE PREFERENCE SHARES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 52
16 EqUITY ............... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 53
17 RECONCILIATION OF NET SURPLUS TO NET CASH FROM OPERATIONS.................................................. 54
18 COMMITMENTS...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 55
19 CONTINGENT LIABILITIES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 55
20 CONTINGENT ASSETS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 55
21 RELATED PARTY TRANSACTIONS, KEY MANAGEMENT PERSONNEL AND EMPLOYEE REMUNERATION ............. 56
22 BOARD MEMBER REMUNERATION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 57
23 FINANCIAL INSTRUMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 59
24 EVENTS AFTER THE BALANCE SHEET DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................... 60
25 EXPLANATION OF SIGNIFICANT VARIANCES AGAINST BUDGET . . . . . . . .................................................... 60
26 ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS FOR THE PARENT AND GROUP ............... 61
27 RECONCILIATION FROM THE TRANSITION FROM NZ GAAP TO NZ IFRS .................................................. 62
STATEMENT OF SERVICE PERFORMANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................... 63




                                                                                                                                                                                                     34
Statement of Corporate Governance
ROLE OF THE BOARD




Radio New Zealand’s Shareholding Ministers, the Minister Responsible for Radio New Zealand and the Minister of Finance, appoint a governing
board of directors. The Radio New Zealand constitution sets the size of the Board at a minimum of two and a maximum of nine directors. There
were seven directors appointed as at 30 June 2008.
The Board is responsible under the company’s constitution to manage, direct and supervise the company’s business and affairs in accordance
with the Radio New Zealand Charter set out in section 7 of The Radio New Zealand Act 1995 (dealing with programming) and the Principles of
Operation of the company as provided for in section 8. In practice, day-to-day management of the company is delegated to the Chief Executive
Officer/Editor-in-Chief.
The Board, on the advice of the Executive, establishes the company’s strategic, business and programming plans, ratifies annual budgets
and monitors management’s performance against established goals. The Board also considers and approves new policies and business
initiatives, authorises transactions outside prescribed delegated authorities of management and appoints the Chief Executive/Editor-in-Chief.
Procedures are in place at Board, corporate and business unit levels to safeguard the company’s assets and its wider commercial interests.
A well-established regime of regular reporting is designed to maintain a high standard of internal communication and to ensure the Board
remains appropriately informed of all aspects of the company’s business and activities.
Board fees are set by the Shareholding Ministers each year.


bOard cHaNgeS

During the year Judith Fyfe completed her term as director on 31 October 2007.


SubSidiary

A fully owned subsidiary company, Sound Archives/Ngä Taonga Körero Limited, was incorporated in August 1998. The subsidiary’s directors
are the Radio New Zealand Chief Executive (Peter Cavanagh) and a Board member (Judith Fyfe until 31 October 2007 and replaced by
Christine Grice from 30 November 2007). The subsidiary receives funding from NZ On Air and purchases services from Radio New Zealand
to run the archives.


bOard cOmmitteeS

The Board has formally constituted an Audit Committee to focus on audit and risk management issues. All members of the Board are on this
committee. This committee met on four occasions during the year. The Board has also established a Remuneration Committee to advise on
remuneration, performance and other employment-related issues for the Chief Executive and senior staff. Four Board members serve on this
committee and it met on three occasions during the year.


bOard meetiNgS

The Board normally meets on 11 scheduled occasions each year and convenes special meetings as required.



table Of atteNdaNce fOr tHe year eNded 30 juNe 2008              bOard meetiNgS                    audit cOmmittee             remuNeratiON cOmmittee


Brian Corban QSO – Chairman                                                9                                 3                                 3
Alison Timms – Deputy Chairman                                            10                                 3                                 3
Judith Fyfe (retired 31 October 2007)                                      4                                 2                                 –
Judy Finn                                                                  9                                 3                                 –
Alan Dick                                                                  9                                 3                                 –
Steve Murray                                                              10                                 3                                 3
Sifa Taumoepeau                                                            9                                 4                                 –
Christine Grice                                                            9                                 3                                 2




            35                                                   The accompanying notes and accounting policies form an integral part of the financial statements.
   maNagemeNt aNd OperatiNg Structure

   Radio New Zealand’s organisational structure reflects its core business activities. The structure is reviewed regularly and adjusted where
   necessary to accommodate new business and to ensure that it remains relevant to a changing trading and operational environment.
   The Chief Executive is responsible for the management leadership of the company, its organisational structures, developing and recommending
   initiatives to the Board, implementing Board decisions and policies, achieving objectives, ensuring the company is properly equipped with skilled
   personnel, and for various interfaces between the company, its stakeholders and the public. The Chief Executive has a dual role as Editor-in-
   Chief. In that role he is responsible to the Board for Radio New Zealand’s editorial matters.
   The Board and the Chief Executive/Editor-in-Chief have acknowledged their responsibility by signing the Statement of Responsibility in this report.


   auditOr

   Mr John O’Connell, acting on behalf of the Controller and Auditor-General, is the auditor of Radio New Zealand Limited in accordance with section
   32 of the Public Audit Act 2001.


   legiSlative cOmpliaNce

   The Board acknowledges its responsibility to ensure the organisation complies with all legislation. The Board has delegated responsibility to the
   Chief Executive for the development and operation of a programme to systematically identify compliance issues and ensure staff are aware of
   relevant legislative requirements.




   Statement of Responsibility
   FOR THE YEAR ENDED 30 JUNE 2008




   Pursuant to the Crown Entities Act 2004, the Board and management of Radio New Zealand Limited accept responsibility for:
   •	 the	preparation	of	the	financial	statements	and	the	Statement	of	Service	Performance	and	for	the	judgements	used	therein;	and
   •	 the	establishment	and	maintenance	of	a	system	of	internal	control	designed	to	provide	reasonable	assurance	as	to	the	integrity	and	
      reliability of financial statements and non-financial reporting.
   In the opinion of Radio New Zealand, the financial statements for the year ended 30 June 2008 fairly reflect the financial position and operations
   of Radio New Zealand Limited.
   The audit opinion on these financial statements is on pages 37-38.




   CHRISTINE GRICE – Chair                             STEVE MURRAY – Audit Committee Chairman      PETER CAVANAGH – Chief Executive and Editor-in-Chief
   31 October 2008                                     31 October 2008                              31 October 2008




The accompanying notes and accounting policies form an integral part of the financial statements.                                       36
Audit Report



tO tHe readerS Of radiO New ZealaNd ltd aNd grOup’S fiNaNcial StatemeNtS aNd StatemeNt Of Service perfOrmaNce
fOr tHe year eNded 30 juNe 2008


The Auditor-General is the auditor of Radio New Zealand Ltd (the company) and group. The Auditor-General has appointed me, John O’Connell
using the staff and resources of Audit New Zealand, to carry out the audit on his behalf. The audit covers the financial statements and statement
of service performance included in the annual report of the company and group for the year ended 30 June 2008.

uNqualified OpiNiON
In our opinion:
•	 The	financial	statements	of	the	company	and	group	on	pages	40	to	62:
– comply with generally accepted accounting practice in New Zealand;
– give a true and fair view of:
   – the company and group’s financial position as at 30 June 2008; and
   – the results of operations and cash flows for the year ended on that date.
•	 The	statement	of	service	performance	of	the	company	and	group	on	pages	63	to	71:
– complies with generally accepted accounting practice in New Zealand; and
– gives a true and fair view of, for each class of outputs:
   – standards of delivery performance achieved, as compared with the forecast standards outlined in the statement of forecast service
     performance adopted at the start of the financial year; and
   – actual revenue earned and output expenses incurred, as compared with the forecast revenues and output expenses outlined in the
     statement of forecast service performance adopted at the start of the financial year.
•	 Based	on	our	examination	the	company	and	group	kept	proper	accounting	records.
The audit was completed 31 October 2008, and is the date at which our opinion is expressed.
The basis of our opinion is explained below. In addition, we outline the responsibilities of the Board of Directors and the Auditor, and explain
our independence.


baSiS Of OpiNiON
We carried out the audit in accordance with the Auditor-General’s Auditing Standards, which incorporate the New Zealand Auditing Standards.
We planned and performed the audit to obtain all the information and explanations we considered necessary in order to obtain reasonable
assurance that the financial statements and statement of service performance did not have material misstatements, whether caused by fraud
or error.
Material misstatements are differences or omissions of amounts and disclosures that would affect a reader’s overall understanding of the
financial statements and statement of service performance. If we had found material misstatements that were not corrected, we would have
referred to them in our opinion.
The audit involved performing procedures to test the information presented in the financial statements and statement of service performance.
We assessed the results of those procedures in forming our opinion.
Audit procedures generally include:
•	   determining	whether	significant	financial	and	management	controls	are	working	and	can	be	relied	on	to	produce	complete	and	accurate	data;
•	   verifying	samples	of	transactions	and	account	balances;
•	   performing	analyses	to	identify	anomalies	in	the	reported	data;
•	   reviewing	significant	estimates	and	judgements	made	by	the	Board	of	Directors;
•	   confirming	year-end	balances;
•	   determining	whether	accounting	policies	are	appropriate	and	consistently	applied;	and
•	   determining	whether	all	financial	statement	and	statement	of	service	performance	disclosures	are	adequate.




           37
We did not examine every transaction, nor do we guarantee complete accuracy of the financial statements and statement of service
performance.

We evaluated the overall adequacy of the presentation of information in the financial statements and statement of service performance.
We obtained all the information and explanations we required to support our opinion above.


reSpONSibilitieS Of tHe bOard Of directOrS aNd tHe auditOr
The Board of Directors is responsible for preparing the financial statements and statement of service performance in accordance with generally
accepted accounting practice in New Zealand. The financial statements must give a true and fair view of the financial position of the company
and group as at 30 June 2008 and the results of operations and cash flows for the year ended on that date. The statement of service
performance must give a true and fair view of, for each class of outputs, the company and group’s standards of delivery performance achieved
and revenue earned and expenses incurred, as compared with the forecast standards, revenue and expenses adopted at the start of the financial
year. The Board’s responsibilities arise from the Financial Reporting Act 1993, and the Crown Entities Act 2004.
We are responsible for expressing an independent opinion on the financial statements and statement of service performance and reporting that
opinion to you. This responsibility arises from section 15 of the Public Audit Act 2001 and the Crown Entities Act 2004.


iNdepeNdeNce
When carrying out the audit we followed the independence requirements of the Auditor-General, which incorporate the independence
requirements of the New Zealand Institute of Chartered Accountants.
Other than the audit, we have no relationship with or interests in the company or any of its subsidiaries.




JOHN O’CONNELL – Audit New Zealand
On behalf of the Auditor-General
Wellington, New Zealand




matterS relatiNg tO tHe electrONic preSeNtatiON Of tHe audited fiNaNcial StatemeNtS
This audit report relates to the financial statements of Radio New Zealand Ltd (the company) and group for the year ended 30 June 2008
included on the company and group’s website. The company and group are responsible for the maintenance and integrity of the company and
group’s website. We have not been engaged to report on the integrity of the company and group’s website. We accept no responsibility for any
changes that may have occurred to the financial statements since they were initially presented on the website.
The audit report refers only to the financial statements named above. It does not provide an opinion on any other information which may have
been hyperlinked to/from these financial statements. If readers of this report are concerned with the inherent risks arising from electronic data
communication they should refer to the published hard copy of the audited financial statements and related audit report dated 31 October 2008
to confirm the information included in the audited financial statements presented on this website.
Legislation in New Zealand governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.




                                                                                                                                   38
Statement Specifying Financial Performance
FOR THE YEAR ENDED 30 JUNE 2008




The Board agreed financial targets with the Crown at the beginning of the year.
Budget figures are based on the high-level budget set out in the 2007-2008 Statement of Intent.


                                                                                                                             budget              acHievemeNt
                                                                                                                               $000                     $000



REVENUE                                                                                                                      35,326                     35,286

EXPENDITURE                                                                                                                  35,276                     35,257

OPERATING SURPLUS/(DEFICIT) BEFORE TAXATION                                                                                        50                         29

TAXATION EXPENSE/(BENEFIT)                                                                                                         17                           5

Net SurpluS/(deficit) after taxatiON                                                                                               33                         24

EQUITY                                                                                                                       25,608                     52,485

WORKING CAPITAL RATIO (Current assets as percentage of current liabilities)                                                  100.0%                       97.0%

RATIO OF EQUITY TO TOTAL ASSETS (Equity as percentage of total assets)                                                         78.7%                      85.0%


Radio New Zealand has substantially met its financial performance targets in hours of Charter delivery within operating budgets. Both operating
revenue and expenses are within 5% material variance limits of budget. These two minor variances combine to yield a net surplus after tax of
$24,000 compared with a planned surplus of $33,000.




          39                                                      The accompanying notes and accounting policies form an integral part of the financial statements.
   Income Statement
   FOR THE YEAR ENDED 30 JUNE 2008



                                                                                   grOup            grOup    grOup     pareNt        pareNt
                                                                                  budget            actual   actual    actual        actual
                                                                                    2008              2008     2007      2008          2007
                                                               NOte                 $000              $000     $000      $000          $000


   INCOME
   Revenue from the Crown                                           2             31,573            31,602   30,457    30,879        29,757
   Interest income                                                                      25            146       46       146            46
   Other income                                                     3               3,728            3,538    3,638     4,498         4,338
   Gains                                                                                 0              0       59         0            59
   Total income                                                                   35,326            35,286   34,200    35,523        34,200


   EXPENDITURE
   Personnel costs                                                  4             18,360            19,058   18,146    19,058        18,146
   Depreciation and amortisation                                                    3,537            2,892    2,800     2,892         2,800
   Interest expense                                                                     50              2       39         2            39
   Other expenditure                                                5             13,329            13,305   13,139    13,468        13,139
   Total expenditure                                                              35,276            35,257   34,124    35,420        34,124


   Net operating surplus/(deficit) before taxation                                      50             29       76       103            76
   Taxation expense/(benefit)                                       6                   17              5        0         5             0

   Net surplus/(deficit) after taxation                                                 33             24       76        98            76




   Statement of Changes in Equity
   FOR THE YEAR ENDED 30 JUNE 2008



                                                                                   grOup            grOup    grOup     pareNt        pareNt
                                                                                  budget            actual   actual    actual        actual
                                                                                    2008              2008     2007      2008          2007
                                                                                    $000              $000     $000      $000          $000


   Balance at 1 July                                                              25,054            23,719   28,401    22,940        27,622
   Increase/(decrease) in asset revaluation reserves                                      0         28,221        0    28,221             0
   Increase/(decrease) in share capital                                               521             521         0      521              0
   Reclassification of preference shares                                                  0              0   (4,120)        0        (4,120)
   NZ IFRS transition                                                                     0              0     (638)        0          (638)
   Net surplus/(deficit) after taxation for the year                                    33             24       76        98            76


   balance at 30 june                                                             25,608            52,485   23,719    51,780        22,940




The accompanying notes and accounting policies form an integral part of the financial statements.                               40
Balance Sheet
AS AT 30 JUNE 2008



                                                          grOup               grOup                 grOup                 pareNt                pareNt
                                                         budget               actual                actual                actual                actual
                                                           2008                 2008                  2007                  2008                  2007
                                          NOte             $000                 $000                  $000                  $000                  $000



EqUITY                                       16
Share capital                                            16,692               16,692                16,171                16,692               16,171
Preference shares                                              0                     0                     0                     0                     0
Revaluation reserve                                       2,280               30,501                 2,280                29,701                 1,480
Other reserves                                              700                      0                     0                     0                     0
Retained earnings                                         5,936                 5,292                5,268                 5,387                 5,289
Total equity                                             25,608               52,485                23,719                51,780               22,940


CURRENT LIABILITIES
Creditors and other payables                 11           1,209                 2,125                1,996                 1,973                 1,915
Employee entitlements                        12             976                 1,315                1,258                 1,315                 1,258
Provision for tax                                             17                     1                    (4)                    1                    (4)
Revenue received in advance                                 604                   609                   562                   609                  562
Total current liabilities                                 2,806                 4,050                3,812                 3,898                 3,731


NON-CURRENT LIABILITIES
Employee entitlements                        12                0                    69                   73                    69                    73
Revenue received in advance                                    0                  148                   224                   148                  224
Provisions                                   14                0                  822                   819                   822                  819
Preference shares                            15           4,120                 4,120                4,120                 4,120                 4,120
Total non-current liabilities                             4,120                 5,159                5,236                 5,159                 5,236


total liabilities and equity                             32,534               61,694                32,767                60,837               31,907


CURRENT ASSETS
Cash and cash equivalents                     7             591                 2,864                1,306                 2,808                 1,247
Debtors                                       8             773                   604                   689                   604                  689
Other receivables and prepayments                         1,440                   460                   491                   459                  490
Total current assets                                      2,804                 3,928                2,486                 3,871                 2,426


NON-CURRENT ASSETS
Intangibles                                   9             761                   616                   742                   616                  742
Property, plant and equipment                10          28,969               57,150                29,539                56,350               28,739
Total non-current assets                                 29,730               57,766                30,281                56,966               29,481


total assets                                             32,534               61,694                32,767                60,837               31,907


For and on behalf of the Board




CHRISTINE GRICE – Chair             STEVE MURRAY – Audit Committee Chairman
31 October 2008                     31 October 2008




          41                                             The accompanying notes and accounting policies form an integral part of the financial statements.
   Cash Flow Statement
   FOR THE YEAR ENDED 30 JUNE 2008



                                                                                   grOup            grOup     grOup     pareNt         pareNt
                                                                                  budget            actual    actual    actual         actual
                                                                                    2008              2008      2007      2008           2007
                                                               NOte                 $000              $000      $000      $000           $000


   CASH FLOWS FROM OPERATING ACTIVITIES
   Cash was provided from:
   Receipts from customers                                                          5,622            6,544     6,168     6,454          6,116
   NZ On Air funding                                                              29,679            29,702    28,557    28,979         27,857
   Interest earned                                                                      25            146        46       146              46
   Income tax refund                                                                     0              0        89         0              89
                                                                                  35,326            36,392    34,860    35,579         34,108
   Cash was applied to:
   Payments to employees                                                          18,577            19,004    18,086    19,004         18,086
   Payments to suppliers                                                          14,043            14,198    13,585    13,382         12,835
   Interest expense                                                                     50              2        39         2              39
   GST (net)                                                                            17             62        30        62              30
                                                                                  32,687            33,266    31,740    32,450         30,990
   Net cash inflow/(outflow) from operating activities            17                2,639            3,126     3,120     3,129          3,118

   CASH FLOWS FROM INVESTING ACTIVITIES
   Cash was provided from:
   Proceeds from sale of fixed assets                                                     0              0       57          0             57
                                                                                          0              0       57          0             57
   Cash was applied to:
   Purchases of intangible assets                                                         0            62          0       62                  0
   Purchase of property, plant and equipment                                        3,000            2,027     3,019     2,027          3,019
                                                                                    3,000            2,089     3,019     2,089          3,019
   Net cash inflow/(outflow) from investing activities                             (3,000)          (2,089)   (2,962)   (2,089)        (2,962)

   CASH FLOWS FROM FINANCING ACTIVITIES
   Cash was provided from:
   Increase in capital                                                                521             521          0      521                  0
   Increase in loan                                               13                      0          2,464    18,388     2,464         18,388
                                                                                      521            2,985    18,388     2,985         18,388
   Cash was applied to:
   Repayment of loan                                              13                      0          2,464    18,388     2,464         18,388
                                                                                          0          2,464    18,388     2,464         18,388
   Net cash inflow/(outflow) from financing activities                                521             521          0      521                  0

   Net increase/(decrease) in cash equivalents                                        160            1,558      158      1,561            156
   Add opening bank balance at 1 July                                                 431            1,306     1,148     1,247          1,091
   Realised foreign exchange gain (loss)                                                  0              0         0         0                 0
   Cash and cash equivalents year end                               7                 591            2,864     1,306     2,808          1,247

   Comprising:
   Cash and call accounts                                                             591            2,864     1,306     2,808          1,247
   Demand deposits                                                                        0              0         0         0                 0
   closing cash and cash equivalents                                                  591            2,864     1,306     2,808          1,247


   The GST (net) component of operating activities reflects the net GST paid and received with the Inland Revenue Department. The GST (net)
   component has been presented on a net basis, as the gross amounts do not provide meaningful information for financial statement purposes.




The accompanying notes and accounting policies form an integral part of the financial statements.                                 42
Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2008




1     STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 30 JUNE 2008

a     repOrtiNg eNtity
Radio New Zealand Limited is a Crown entity in terms of the Crown Entities Act 2004. The company is wholly owned on behalf of the Crown
by the two Shareholding Ministers, the Minister Responsible for Radio New Zealand and the Minister of Finance. Radio New Zealand Limited
is a company registered under the Companies Act 1993.
The group consists of Radio New Zealand Limited and its subsidiary, Sound Archives/Ngä Taonga Kõrero Limited (SANTK), which is 100% owned.
Sound Archives/Ngä Taonga Kõrero Limited was incorporated in August 1998 and has operated the archive since 1 October 1998.
Radio New Zealand has been designated a Public Benefit Entity (PBE) under New Zealand International Financial Reporting Standards (NZ IFRS)
and as such the potential conflict between the pursuits of core public service objectives set out in Radio New Zealand’s Charter and more
commercial profit-maximisation objectives is minimised.
Government and Shareholding Ministers have confirmed and strengthened Radio New Zealand’s role as a public service broadcaster. They have
waived the requirement for Radio New Zealand to pay a dividend and approved the Statement of Intent with minimal profit goals while still
insisting on sound financial management.

b     baSiS Of preparatiON
The financial statements have been prepared in accordance with the requirements of the Crown Entities Act 2004, which includes the
requirement to comply with New Zealand generally accepted accounting practice (NZ GAAP).
The financial statements comply with New Zealand International Financial Reporting Standards (NZ IFRS), and other applicable Financial
Reporting Standards, as appropriate for public entities.
This is the first year under NZ IFRS.

c     fuNctiONal aNd preSeNtatiON curreNcy
The financial statements are presented in New Zealand dollars and all values are rounded to the nearest thousand dollars ($’000).
The functional currency of Radio New Zealand is New Zealand dollars.


I     BASIS OF CONSOLIDATION – PURCHASE METHOD

The consolidated financial statements include the holding company and its subsidiary. The subsidiary is accounted for using the purchase method.
All significant inter-company transactions are eliminated on consolidation.


II    BUDGET FIGURES

The budget figures are based on the high-level budget approved by the Board in the Statement of Intent set at the beginning of the financial year.
These budget figures have been prepared in accordance with generally accepted accounting practice and are consistent with the accounting
policies adopted by the Board for the preparation of the financial statements under NZ IFRS.


III   GOODS AND SERVICES TAX (GST)

All items in the financial statements are exclusive of GST, with the exception of receivables and payables, which are stated with GST included.
Where GST is irrecoverable as an input tax, then it is recognised as part of the related asset or expense.




          43                                                      The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   IV     TAXATION

   income tax
   Income tax expense comprises both current tax and deferred tax, and is calculated using tax rates that have been enacted or substantively
   enacted by balance date. Current tax is the amount of income tax payable based on the taxable profit for the current year, plus any adjustments
   to income tax payable in respect of prior years. Deferred tax is the amount of income tax payable or recoverable in future periods in respect of
   temporary differences and unused tax losses. Temporary differences are differences between the carrying amount of assets and liabilities in
   the financial statements and the corresponding tax bases used in the computation of taxable profit. The measurement of deferred tax reflects
   the tax consequences that would follow from the manner in which the entity expects to recover or settle the carrying amount of its assets
   and liabilities.


   V      ACCOUNTS RECEIVABLE

   Accounts receivable are stated at expected fair value after providing for doubtful debts and uncollectable debts.


   VI     CASH AND CASH EqUIVALENTS

   Cash and cash equivalents in the balance sheet comprises cash at bank, in hand and short-term deposits with an original maturity of three
   months or less that are readily convertible to known amounts of cash.


   VII    NON-CURRENT ASSETS

   Property, plant and equipment are stated at fair value, including library and archival collections. Land and buildings have been provisionally
   revalued in the financial statements. A formal valuation of land and buildings was conducted during the year ending 30 June 2008.
   Library and archival collections are revalued to fair value at least every five years. Library collections are revalued by independent valuers.
   Archival collections are revalued to fair value using discounted expected future revenues as an approximation to fair value. Library collection
   acquisitions are capitalised and depreciated.
   The results of revaluing library and archival collections are credited or debited to an asset revaluation reserve. Where a revaluation results in a
   debit balance in the revaluation reserve, the debit balance will be expensed in the Income Statement. To the extent that a revaluation gain
   reverses a loss previously charged to the Income Statement, the gain is credited to the Income Statement.
   Other non-current assets such as prepayments are recorded in Radio New Zealand’s Balance Sheet. These are payments received for services
   in one period but are recognised in the Income Statement in future periods.

   impairment of assets
   At each balance sheet date, Radio New Zealand assesses whether there is any objective evidence that any group of non-current assets is
   impaired. Any impairment losses are recognised in the Income Statement.


   VIII   DEPRECIATION

   Depreciation is provided on a straight-line basis on all property, plant and equipment other than freehold land, at rates that will write off the cost
   of the assets to their estimated residual values over their useful lives.

   tHe uSeful liveS Of majOr claSSeS Of aSSetS Have beeN eStimated aS fOllOwS:
   Buildings                                                                                        20 to 40 years
   Leasehold improvements                                                                           Term of lease
   Plant and equipment                                                                              5 to 20 years
   Motor vehicles                                                                                   5 years
   Computer hardware equipment                                                                      3 to 5 years
   Furniture, fittings and other                                                                    5 to 10 years
   Library books and music collection                                                               10 to 15 years




The accompanying notes and accounting policies form an integral part of the financial statements.                                          44
Capital work in progress is not depreciated. The total cost of a project is transferred to the relevant fixed asset account when it is completed
and begins its productive life. It is then depreciated over its estimated economic life.
The sound archive collection was not depreciated in the current year as it is categorised as a heritage asset and as such is not normally depreciated.


IX       INTANGIBLE ASSETS

Software, both acquired and developed, is included under intangible assets. Also under this category are capital contribution payments
made to suppliers for co-siting rights which relate to future periods set out in the co-siting contracts.

amortisation
The carrying value of an intangible asset with a finite life is amortised on a straight-line basis over its useful life.

The useful lives of major classes of assets have been estimated as follows:
      Computer software                                                              3 to 5 years
      Capital contributions                                                          Term of contract

X        ASSOCIATES

Radio New Zealand is a party to the formation of Freeview Limited, a joint venture company formed to provide free to air digital broadcasting
in New Zealand.

XI       REDEEMABLE PREFERENCE SHARES

Redeemable preference shares held by the Government in Radio New Zealand are to be repaid at the option of the holder and are classified
as a liability in the balance sheet.


XII      EMPLOYEE ENTITLEMENTS

Provision is made for the company’s liability for annual and long service leave. Annual leave has been calculated on an actual entitlement
basis at average current rates of pay over the past year in accordance with the Holidays Act 2003, whilst the long service leave provision has
been calculated on an actuarial basis. A provision for sick leave is not provided for as Radio New Zealand does not carry forward sick leave into
future periods. Employee entitlements are classified as short term and long term in the balance sheet.

XIII PROVISIONS

Radio New Zealand recognises a provision for future expenditure of uncertain amount or timing when there is a present obligation (either legal or
constructive) as a result of a past event, it is probable that expenditures will be required to settle the obligation and a reliable estimate can be
made of the amount of the obligation.
Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the obligation.


XIV      SUPERANNUATION SCHEMES

Obligations for contributions to Kiwisaver and the National Provident Fund are accounted for as defined contribution superannuation schemes
and are recognised as an expense in the income statement as incurred.

XV       LEASES

finance leases
Radio New Zealand had no finance leases.

Operating leases
Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased items are classified as operating
leases. Payments under these leases are recognised as incurred. Radio New Zealand leases its motor vehicles and the majority of its premises.




             45                                                       The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   XVI    FINANCIAL INSTRUMENTS

   Radio New Zealand is party to financial instruments as part of its normal operations. These financial instruments include bank accounts,
   short-term deposits, debtors, creditors and loans. All financial instruments are recognised in the Balance Sheet and all revenues and expenses
   in relation to financial instruments are recognised in the Income Statement.
   All financial instruments are shown at their fair value.

   XVII CASH FLOW STATEMENT

   Cash and cash equivalents means current bank accounts and demand/call deposits.
   Operating activities are those activities relating to the purchase and supply of goods and services.
   Investing activities are those activities relating to the acquisition and disposal of non-current assets.
   Financing activities comprise those activities that change the equity and debt capital structure of the company.

   XVIII FOREIGN CURRENCY TRANSACTIONS

   Foreign currency transactions are converted into New Zealand dollars at the spot rate at the date of the transaction. These transactions are
   settled immediately; consequently no exchange gain or loss is recognised. Radio New Zealand also enters into foreign exchange contract (FECs)
   to cover significant overseas purchases. These are defined as financial derivatives under NZ IFRS and the fair value of FECs are determined on the
   basis of quoted market rates.


   XIX    BORROWING COSTS

   Radio New Zealand has a credit facility arrangement with its banker. Costs relating to the drawdown of this facility are recognised in the Income
   Statement. No costs are attributed to the acquisition, construction or production of property, plant and equipment or other qualifying assets.


   XX     REVENUE (CROWN AND OTHER REVENUE)

   Radio New Zealand Limited derives revenue from the Government through NZ On Air and from the Ministry for Culture and Heritage for specific
   purposes as outlined in its Charter and Statement of Intent. Other revenue is derived from broadcasting activities and interest from bank
   deposits. All revenue is measured at the fair value of the consideration receivable.


   XXI    COST ALLOCATION

   Radio New Zealand Limited has derived the net cost of service for each significant activity by using the cost allocation system outlined below.

   cost allocation policy
   a. Direct costs are charged directly to significant activities. Indirect costs are charged to significant activities based on cost drivers and related
      activity and usage information.

   criteria for direct and indirect costs
   “Direct costs” are those costs directly attributable to a specific output activity. The percentage of identified direct costs to total costs for the
   consolidated group is 73.43% (2007: 73.48%).
   “Indirect costs” are those costs which are not directly attributable to a specific output activity. The percentage of identified indirect costs to total
   costs for the consolidated group is 26.57% (2007: 26.52%).

   cost drivers for allocation of indirect costs
   The costs of internal services not directly charged to activities are allocated as overheads using appropriate cost drivers such as actual usage of
   broadcasting infrastructure services and equipment. Business infrastructure costs are allocated according to the number of staff in each cost
   centre. Occupancy costs are allocated in proportion to the cost of floor area occupied.




The accompanying notes and accounting policies form an integral part of the financial statements.                                           46
d       cHaNgeS iN accOuNtiNg pOlicieS
This is the first year that the prospective financial statements have been prepared in accordance with NZ IFRS. Comparative 2006-2007 opening
balances have been adjusted on transition to NZ IFRS.

e       SigNificaNt aSSumptiONS
The following significant assumptions underpin the financial statements:
•	 Government	will	continue	to	fund	Radio	New	Zealand’s	core	activities	in	the	future.	It	is	therefore	expected	that	the	nature	of	the	operations	of	
   Radio New Zealand will not change significantly.
•	 Shareholding	Ministers	will	not	require	Radio	New	Zealand	to	pay	a	dividend	on	their	shareholding	in	the	company.	This	was	confirmed	by	the	
   Minister of Broadcasting for the 2007-2008 income year.
•	 There	has	been	no	withdrawal	of	capital	by	Shareholding	Ministers.	
•	 The	statements	have	been	prepared	on	a	going-concern	basis.

2       REVENUE FROM THE CROWN

Radio New Zealand has been provided with funding from the Crown for the specific purposes of Radio New Zealand as set out in its Charter,
the Radio New Zealand Act 1995 and the Crown Entities Act 2004. Apart from the restrictions, there are no unfulfilled conditions or conditions
attached to government funding (2007: nil).



3       OTHER INCOME

                                                                        grOup                      grOup                      pareNt                      pareNt
                                                                        actual                     actual                     actual                      actual
                                                                          2008                       2007                       2008                        2007
                                                                          $000                       $000                       $000                        $000


Parliamentary Services                                                   1,045                         935                      1,045                        935
Rental income from property leases                                          577                        691                        577                        691
Other                                                                    1,916                      2,012                       2,876                      2,712
Total other revenue                                                      3,538                      3,638                       4,498                      4,338



4       PERSONNEL COSTS

                                                                        grOup                      grOup                      pareNt                      pareNt
                                                                        actual                     actual                     actual                      actual
                                                                          2008                       2007                       2008                        2007
                                                                          $000                       $000                       $000                        $000


Salaries, wages and allowances                                          18,148                     17,324                     18,148                     17,324
Superannuation contributions                                                490                        463                        490                        463
Other                                                                       406                        364                        406                        364
Incr/(decr) in employee entitlements                                         14                          (5)                        14                          (5)
Total personnel                                                         19,058                     18,146                     19,058                     18,146




           47                                                      The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   5        OTHER EXPENDITURE

                                                                                        grOup       grOup           pareNt                pareNt
                                                                                        actual      actual          actual                actual
                                                                                          2008        2007            2008                  2007
                                                                                          $000        $000            $000                  $000


   Audit fees                                                                                66        63                 66                 63
   Audit fees for NZ IFRS transition                                                         10         0                 10                  0
   Operating lease expense                                                               1,599       1,548              1,599              1,548
   Travel                                                                                   553       405                553                405
   Transmission                                                                          4,060       3,887              4,060              3,887
   Programming                                                                           3,409       3,111              3,409              3,111
   Advertising and publicity                                                                487       674                487                674
   Other                                                                                 3,121       3,451              3,284              3,451
   Total other expenses                                                                 13,305      13,139          13,468                13,139

   6        TAXATION

   Relationship between tax and accounting profit


                                                                                        grOup       grOup           pareNt                pareNt
                                                                                        actual      actual          actual                actual
                                                                                          2008        2007            2008                  2007
                                                                                          $000        $000            $000                  $000


   NET SURPLUS/(DEFICIT) BEFORE TAXATION                                                     29        76                103                 76
   Tax @ 33%                                                                                (10)      (25)               (34)               (25)
   Plus/(less) the tax effect of:
   Non-deductible expenditure                                                                  3       13                  3                 13
   Unrecognised temporary differences                                                          7       12                 31                 12
   Prior year adjustment                                                                       5        0                  5                  0
   Tax expense                                                                                 5        0                  5                  0

   COMPONENTS OF TAX EXPENSE
   Current tax expenses                                                                        0        0                  0                  0
   Adjustments to current tax in prior year                                                    5        0                  5                  0
                                                                                               5        0                  5                  0
   additiONal diSclOSureS
   A deferred tax asset has not been recognised in relation to deductible temporary differences of $741,000 (tax effect $244,000).
   A deferred tax asset has not been recognised in relation to unused tax losses of $1,883,000 (tax effect $621,000).


   IMPUTATION CREDIT ACCOUNT
   Balance at 1 July                                                                     1,290       1,375              1,286              1,371
   Income tax paid                                                                             0        0                  0                  0
   Income tax refunded                                                                         0      (85)                 0                (85)
   Imputation credits-dividends received                                                       1        0                  1                  0
   Balance at 30 June                                                                    1,291       1,290              1,287              1,286




The accompanying notes and accounting policies form an integral part of the financial statements.                                    48
7     CASH AND CASH EqUIVALENTS

                                                                         grOup                     grOup                     pareNt                      pareNt
                                                                         actual                    actual                    actual                      actual
                                                                           2008                      2007                      2008                        2007
                                                                           $000                      $000                      $000                        $000


Cash and call deposits                                                    2,864                     1,306                      2,808                      1,247

The carrying value of call deposits are at fair value.

8     DEBTORS

Debtors and other receivables                                               627                       692                        627                        692
Provision for impairment                                                    (23)                        (3)                      (23)                          (3)
                                                                            604                       689                        604                        689


The carrying value of receivables approximate their fair value.
As at 30 June 2008 and 2007, all overdue receivables have been assessed for impairment and appropriate provisions applied as follows:


                                                     2008            2008                 2008                 2007                2007                    2007
                                                    grOSS      impairmeNt                  Net                grOSS          impairmeNt                     Net


Not past due                                             584             (4)               580                   661                     (3)                 658
Past due 1-30 days                                        23             (1)                 22                    26                     0                   26
Past due 31-60 days                                        3             (1)                   2                    1                     0                     1
Past due 61-90 days                                        3             (3)                   0                    2                     0                     2
Past due > 90 days                                        14          (14)                     0                    2                     0                     2
                                                         627          (23)                 604                   692                     (3)                 689


The provision for impairment has been calculated based on expected losses for Radio New Zealand’s pool of debtors. Expected losses have been
determined based on an analysis and review of specific debtors.
Movement in the provision for impairment of receivables is as follows:


                                                                         grOup                     grOup                     pareNt                     pareNt
                                                                         actual                    actual                    actual                     actual
                                                                           2008                      2007                      2008                       2007
                                                                           $000                      $000                      $000                       $000
Balance at 1 July                                                              3                         4                          3                          4
Additional provisions made during the year                                     20                       (1)                        20                         (1)
Receivables written off during the year                                         0                        0                          0                          0
Balance at 30 June                                                             23                        3                         23                          3

9     INTANGIBLE ASSETS

Software                                                                    245                       254                        245                        254
Prepayments                                                                 371                       488                        371                        488
Balance at 30 June                                                          616                       742                        616                        742




           49                                                     The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   Movements for each class of intangible asset are as follows:

                                                                                                                                                      cO-SitiNg
                                                                                                                                 SOftware          prepaymeNtS


   COST
   Balance at 1 July                                                                                                                 2,976                1,078
   Additions                                                                                                                              62                   67
   Disposals                                                                                                                             (68)                  0
   Balance at June                                                                                                                   2,970               1,145


   ACCUMULATED AMORTISATION
   Balance at 1 July                                                                                                                 2,654                 590
   Amortisation expense                                                                                                                   71               184
   Disposals/impairment losses                                                                                                             0                   0
   Balance at June                                                                                                                  2,725                  774


   Carrying amounts at June 2008                                                                                                         245               371


   There are no restrictions over the the title of Radio New Zealand’s intangible assets pledged as security for liabilities.

   10      PROPERTY, PLANT AND EqUIPMENT

                                                                                  2008                                 2007                       aNNual
                                                                                  $000                                 $000                     depreciatiON
                                                              cOSt/          accum       Net bOOk         cOSt/     accum     Net bOOk
   aSSet                                                    valuatN           depN          value       valuatN      depN        value           2008      2007


   grOup
   Land                                                     33,153                0       33,153         5,138          0       5,138               0          0
   Buildings                                                  9,898         (1,982)         7,916        9,727     (1,675)      8,052            311       375
   Leasehold improvements                                     6,718         (4,385)         2,333        6,030     (3,696)      2,334            440       448
   Plant and equipment                                      20,019        (13,786)          6,233       19,317    (12,895)      6,422            913       896
   Libraries and archival collection                          3,277           (775)         2,502        3,125      (591)       2,534            183       172
   Computer hardware                                          7,414         (5,690)         1,724        7,378     (5,565)      1,813            555       546
   Furniture, fittings and other                              2,598         (1,901)           697        2,437     (1,693)        744            213       240
   Lease make-good asset (NZ IFRS)                                 0                0               0      453      (246)         207               0          0
   Capital work in progress:
   Buildings                                                    104               0           104            2          0           2               0          0
   Plant and equipment                                        2,088               0         2,088        1,955          0       1,955               0          0
   Libraries and archival collection                               0              0                 0        0          0           0               0          0
   Computer systems                                             385               0           385          335          0         335               0          0
   Furniture, fittings and other                                  15              0             15           3          0           3               0          0
   Total property, plant and equipment                      85,669        (28,519)        57,150        55,900    (26,361)    29,539            2,615    2,677




The accompanying notes and accounting policies form an integral part of the financial statements.                                                  50
PROPERTY, PLANT AND EqUIPMENT (continued)

                                                                   2008                                         2007                           aNNual
                                                                   $000                                         $000                         depreciatiON
                                                  cOSt/        accum      Net bOOk          cOSt/          accum       Net bOOk
aSSet                                           valuatN         depN         value        valuatN           depN          value                2008          2007
pareNt
Land                                            33,153             0      33,153           5,138                0         5,138                    0             0
Buildings                                        9,898       (1,982)        7,916          9,727         (1,675)          8,052                311           375
Leasehold improvements                           6,718       (4,385)        2,333          6,030         (3,696)          2,334                440           448
Plant and equipment                             20,019      (13,786)        6,233         19,317        (12,895)          6,422                913           896
Libraries and archival collection                2,477         (775)        1,702          2,325            (591)         1,734                183           172
Computer hardware                                7,414       (5,690)        1,724          7,378         (5,565)          1,813                555           546
Furniture, fittings and other                    2,598       (1,901)          697          2,437         (1,693)            744                213           240
Lease make-good asset (NZ IFRS)                       0             0             0           453          ( 246)           207                    0             0
Capital work in progress:
Buildings                                          104             0          104                2              0              2                   0             0
Plant and equipment                              2,088             0        2,088          1,955                0         1,955                    0             0
Libraries and archival collection                     0            0              0              0              0              0                   0             0
Computer systems                                   385             0          385             335               0           335                    0             0
Furniture, fittings and other                        15            0            15               3              0              3                   0             0
Total property, plant and equipment             84,869      (28,519)      56,350          55,100        (26,361)        28,739               2,615         2,677

valuatiON
Radio New Zealand Limited has significant library and music collections, property, plant and equipment. These values have been reflected in the
Balance Sheet at their fair value.
The reference library is valued at the original valuation of $400,000 and the music library is valued at $1.4 million. The music library valuation
was completed by Rolle Limited (independent valuers) as at 30 June 2003.
The company’s 100% owned subsidiary, Sound Archives/Ngä Taonga Körero Limited, has a substantial archival collection of valuable radio
recordings, and is valued at $800,000. This valuation was completed by the Directors of Sound Archives/Ngä Taonga Körero Limited as at
30 June 2008.
Depreciation has not been charged on the archival assets collection in 2007-2008.


11      CREDITORS AND OTHER PAYABLES

                                                                        grOup                        grOup                    pareNt                      pareNt
                                                                        actual                       actual                   actual                      actual
                                                                          2008                         2007                     2008                        2007
                                                                          $000                         $000                     $000                        $000


Creditors                                                                 1,362                      1,225                     1,210                       1,145
Accrued expenses                                                           763                         771                         763                       770
                                                                          2,125                      1,996                     1,973                       1,915
Creditors and other payables are non-interest bearing and are normally settled on 30-day terms; therefore the carrying value of creditors and
other payables approximates their fair value.




            51                                                     The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   12        EMPLOYEE ENTITLEMENTS

                                                                                        grOup       grOup               pareNt             pareNt
                                                                                        actual      actual              actual             actual
                                                                                          2008        2007                2008               2007
                                                                                          $000        $000                $000               $000

   Annual leave                                                                          1,171      1,122                1,171              1,122
   Other employee entitlements                                                              144       136                  144                136
   Long service leave                                                                        69          73                 69                 73
                                                                                         1,384      1,331                1,384              1,331

   Made up of:

   Current                                                                               1,315      1,258                1,315              1,258
   Non-current                                                                               69          73                 69                 73
                                                                                         1,384      1,331                1,384              1,331


   13        BANK LOAN

   Multi-option credit line                                                                    0          0                     0                0

   Radio New Zealand has a redrawable line of credit of $3,500,000 with Westpac Banking Corporation. The credit advance is a short-term market
   unsecured advance and the interest rate charged is the Westpac offer rate at the time the advance was made plus a margin of 0.45%.
   The effective rate at year end was 8.55%.
   During the year the cumulative drawdowns totalled $2,464,000 and the maximum amount drawn in any one month was $1,609,000.
   At the end of each month the total balance drawn was repaid in full.

   14        PROVISIONS

   Non-current provisions are represented by:
   Lease make-good and other provisions                                                     822       819                  822                819

   An Employment Court ruling has required Radio New Zealand to place $3,000 in a separate bank account pending the outcome of an employment
   dispute with a previous employee.
   In respect to three of its leased premises, Radio New Zealand is required, at the expiry of the lease term, to make good any damage caused from
   installed fixtures and fittings and to remove any fixtures or fittings installed.

   15        REDEEMABLE PREFERENCE SHARES

   Preference shares on issue at 30 June 2008                                            4,120      4,120                4,120              4,120
   Redeemable preference shares have the following rights:
   a) No voting rights except:
        i) in the event of a liquidation or any proposal of liquidation; and
        ii) when the company is in default in the payment of any dividend.
   b) The right to:
        i)     a non-cumulative preferential dividend at a rate equal to the aggregate five-year Benchmark Bond rate plus 1%;
        ii) all dividends shall be payable by equal half yearly instalments on 31 May and 30 November in each calendar year;
        iii) the priority to receive such dividends over rights of ordinary shareholders to receive a dividend; and
        iv) dividends commence from 1 December 1998.
   c) On redemption, the company shall redeem the preference shares in cash by repaying the capital paid up or credited as paid up.
   This class of shares have been reclassified from equity in 2007 to non-current liabilities in 2008.




The accompanying notes and accounting policies form an integral part of the financial statements.                                   52
16    EqUITY

                                                                     grOup                      grOup                      pareNt                      pareNt
                                                                     actual                     actual                     actual                      actual
                                                                       2008                       2007                       2008                        2007
                                                                       $000                       $000                       $000                        $000

SHare capital
Ordinary $1 shares
Ordinary shares have the following rights:
a) normal voting rights; and
b) no fixed dividend.
Balance at 1 July                                                    16,171                     16,171                     16,171                     16,171
Issue of 521,000 ordinary shares                                         521                           0                       521                            0
balance at 30 june                                                   16,692                     16,171                     16,692                     16,171

The company issued 521,000 ordinary shares to the Government during the year.

prefereNce SHareS
Balance at 1 July                                                           0                    4,120                            0                     4,120
Move to liabilities                                                         0                   (4,120)                           0                    (4,120)
balance at 30 june                                                          0                          0                          0                           0

revaluatiON reServe
Balance at 1 July                                                     2,280                      2,280                       1,480                      1,480
Revaluation of land and buildings                                    28,221                            0                   28,221                             0
balance at 30 june                                                   30,501                      2,280                     29,701                       1,480

At the end of the year Radio New Zealand commissioned DTZ, independent public valuers, to revalue its owned land and buildings throughout
New Zealand to current market value.

OtHer reServeS
Balance at 1 July                                                           0                          0                          0                           0
NZ IFRS adjustments                                                    (638)                           0                      (638)                           0
Transfer to retained earnings                                            638                           0                       638                            0
balance at 30 june                                                          0                          0                          0                           0

Radio New Zealand is required to recognise lease make-good clauses for three of its leased premises. The balance in other reserves recognises
the writedown of the estimate provision of the lease make-good provisions.

retaiNed earNiNgS
Balance at 1 July                                                     5,268                      5,830                       5,289                      5,851
Operating surplus/(deficit)                                               24                         76                          98                         76
NZ IFRS transition adjustments                                              0                      (638)                          0                      (638)
balance at 30 june                                                    5,292                      5,268                       5,387                      5,289




          53                                                    The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   17      RECONCILIATION OF THE NET SURPLUS/(DEFICIT) FROM OPERATIONS WITH THE NET CASH FLOWS FROM OPERATING ACTIVITIES

                                                                                        grOup       grOup    pareNt        pareNt
                                                                                        actual      actual   actual        actual
                                                                                          2008        2007     2008          2007
                                                                                          $000        $000     $000          $000


   NET SURPLUS/(DEFICIT) AFTER TAXATION                                                      24        76       98            76

   Add/(less) non-cash items:
   Depreciation and amortised expenses                                                   2,892      2,964     2,892         2,964
   Bad debts written off                                                                       0        0        0             0
   Change in provision for doubtful debts                                                    19        (1)      19             (1)
   Property, plant and equipment written off                                                 27         0       27             0
   Donated assets income                                                                    (40)      (50)     (40)          (50)
   Capitalised labour                                                                       (35)      (66)     (34)          (66)
   Other                                                                                  (115)        31     (116)           31
   Total non-cash items                                                                  2,748      2,878     2,748         2,878

   Add/(less) items classified as investing activities:
   Net (gain)/loss on sale of fixed assets                                                     0      (59)       0           (59)


   Add/(less) movements in working capital items:
   Decrease/(increase) in receivables                                                        85       (36)      85           (36)
   Decrease/(increase) in prepayments                                                        31         2       31             1
   Increase/(decrease) in creditors and accruals                                           129        124       58           123
   Increase/(decrease) in current employee entitlements                                      57        55       57            55
   Increase/(decrease) in provision for tax                                                    5       86        5            86
   Increase/(decrease) in revenue received in advance                                        47        (6)      47             (6)
   Working capital movement – net                                                          354        225      283           223


   Net cash flow from operating activities                                               3,126      3,120     3,129         3,118




The accompanying notes and accounting policies form an integral part of the financial statements.                     54
18    COMMITMENTS

                                                                         grOup                      grOup                      pareNt                     pareNt
                                                                         actual                     actual                     actual                     actual
                                                                           2008                       2007                       2008                       2007
                                                                           $000                       $000                       $000                       $000


Property, plant and equipment                                                133                        243                        133                        243

Non-cancellable operating lease commitments:
– not later than one year                                                 1,206                      1,076                       1,206                      1,076
– later than one year and less than five years                            2,974                         861                      2,974                        861
– later than five years                                                      166                        247                        166                        247
                                                                          4,346                      2,184                       4,346                      2,184

Radio New Zealand leases properties in Wellington, Christchurch, Dunedin and in a number of regional areas of New Zealand. The main leases
expire between 2011 and 2017.
There are restrictions on these leases to “make good” the property at the end of the lease. Radio New Zealand has recognised this future liability
by creating a provision in its balance sheet.
Other non-cancellable operating commitments:
– not later than one year                                                 4,064                       3,933                      4,064                      3,933
– later than one year and less than five years                            6,706                       7,975                      6,706                      7,975
– later than five years                                                         0                          0                           0                          0
                                                                         10,770                     11,908                     10,770                     11,908

total non-cancellable commitments                                        15,116                     14,092                     15,116                     14,092


19    CONTINGENT LIABILITIES

                                                                          grOup                      grOup                     pareNt                     pareNt
                                                                         actual                     actual                     actual                     actual
                                                                           2008                       2007                       2008                       2007
                                                                           $000                       $000                       $000                       $000


Legal proceedings and disputes                                               660                        876                        660                        876


Radio New Zealand has two contingent liabilities in relation to defamation action from its operations. Another contingent liability is in relation to
legal action instigated by a former employee. Management, in conjunction with the Board, is vigorously defending all charges and is confident
that Radio New Zealand will not be found liable for any of those charges.

20    CONTINGENT ASSETS

There are no contingent assets (2007: Radio New Zealand reported a CPI adjustment from a third party for its services. During the year an
amount of $100,000 was received for full and final payment).




          55                                                        The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   21     RELATED PARTY TRANSACTIONS, KEY MANAGEMENT PERSONNEL AND EMPLOYEE REMUNERATION

   fuNdiNg
   Radio New Zealand Limited received funding of $29.70 million (2007: $28.55 million) from NZ On Air for the year ended 30 June 2008.
   The contract between the two parties for broadcasting services prescribes the services which must be provided in relation to transmission
   coverage and hours, types of programmes to be broadcast, and also places restrictions on advertising.
   Included in the above amount is $723,000 funding received by the subsidiary company of Radio New Zealand Limited, Sound Archives/
   Ngä Taonga Kõrero Limited, under separate contract for sound archiving services for the year ended 30 June 2008 (2007: $700,000).
   Radio New Zealand International, a division of Radio New Zealand Limited, received funding of $1.90 million (2007: $1.90 million) from
   the Ministry for Culture and Heritage for the year ended 30 June 2008.
   Transactions with other State Owned Enterprises and Government departments are carried out on an arm’s length basis.

   iNter-grOup traNSactiONS
   An agreement for supply of services between Radio New Zealand Limited and Sound Archives/Ngä Taonga Körero Limited outlines the
   management fee paid by Sound Archives/Ngä Taonga Körero Limited for personnel and other resources to service the Archives.
   An amount of $887,000 has been transacted, for the period 1 July 2007 to 30 June 2008 (2007: $751,000).

   key maNagemeNt aNd directOrS
   Brian Corban, the Chairman of Radio New Zealand Limited’s Board, is also Chairman of Genesis Power Limited, which is a minor power supplier
   for Radio New Zealand Limited. In the current period $1,092 (2007: $83,686) was paid to Genesis Power Limited. These transactions are on
   normal commercial terms.
   There are no other material transactions between directors and senior management and Radio New Zealand Limited in any capacity other
   than that for which they are employed. There are no other related party transactions.
   The Chief Executive, Peter Cavanagh, is a director of Sound Archives/Ngä Taonga Körero Limited, a 100% owned subsidiary company of
   Radio New Zealand Limited.
   The Deputy Chief Executive, Ken Law, is a director of Freeview Limited. Radio New Zealand has 5% of the shares in the company.
   All material transactions are on an arm’s length basis with the interest of each party being completely independent.

   key maNagemeNt perSONNel cOmpeNSatiON

                                                                                        grOup       grOup            pareNt                 pareNt
                                                                                        actual      actual           actual                 actual
                                                                                          2008        2007             2008                   2007
                                                                                          $000        $000             $000                   $000


   Salaries and employee benefits                                                        1,641      1,550                 1,641              1,550
   Post-employment benefits                                                                    0        0                    0                   0
   Other long-term benefits                                                                    0        0                    0                   0
   Termination benefits                                                                        0        0                    0                   0
   Key management personnel includes the Chief Executive, nine members of the senior management group and two other senior managers.




The accompanying notes and accounting policies form an integral part of the financial statements.                                    56
emplOyee remuNeratiON
Details of remuneration ranges for employees whose remuneration is over $100,000 for the year ended 30 June 2008 are:


                                                                                                                                 Number Of emplOyeeS
remuNeratiON raNgeS fOr emplOyeeS                                                                                              2008               2007

$100,000 – 109,999                                                                                                                 7                           4
$110,000 – 119,999                                                                                                                 5                           3
$120,000 – 129,999                                                                                                                 1                           3
$130,000 – 139,999                                                                                                                 1                           0
$140,000 – 149,999                                                                                                                 1                           1
$150,000 – 159,999                                                                                                                 1                           1
$160,000 – 169,999                                                                                                                 1                           0
$280,000 – 289,999                                                                                                                 0                           1
$340,000 – 349,999                                                                                                                 1                           0
total number of employees in these ranges                                                                                         18                         13


The Chief Executive’s remuneration is within the $340,000 – $349,999 range.

SuperaNNuatiON ScHemeS
Obligations for contributions to KiwiSaver and the National Provident Fund are accounted for as defined contribution superannuation schemes
and are recognised as an expense in the income statement as incurred.

22    BOARD MEMBER REMUNERATION

directOrS’ remuNeratiON
The following persons held office as director during the year and received the following remuneration as directors of Radio New Zealand Limited.
No fees were paid to the directors of Sound Archives/Ngä Taonga Körero Limited:


                                                                                                                               2008                       2007
                                                                                                                                  $                          $

Brian Corban QSO – Chairman                                                                                                 44,583                     45,000
Alison Timms – Deputy Chair                                                                                                 30,833                     33,750
Judith Fyfe (retired 31 October 2007)                                                                                         7,667                    23,000
Judy Finn                                                                                                                   23,000                     23,000
Alan Dick                                                                                                                   23,000                     23,000
Steve Murray                                                                                                                29,584                     30,000
Sifa Taumoepeau                                                                                                             23,000                     23,000
Christine Grice                                                                                                             26,750                     13,417
                                                                                                                           208,417                    214,167




            57                                                   The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   directOrS’ iNtereStS


   briaN cOrbaN qSO
   Chairman and Shareholder               Corban Consultants Ltd, Lindsay Corban Associates Ltd, Ngatarawa Wines Ltd, Corban Mulcaster Vineyard Ltd
   Consultant                             Corban Revell Lawyers
   Chairman                               Melanesian Mission Trust Board, Genesis Power Ltd, Corbans Viticulture Ltd, West Auckland Trust Services Ltd,
                                          Butts Bainbridge & Weir Ltd Accountants, Corban Estate Arts Centre, Languages International Ltd, Frontier
                                          Global Ltd, Frontier Mapping NZ Ltd, Cardiff No 1 Ltd, Cardiff No 2 Ltd, Genesis Power Investments Ltd, Kupe
                                          Holdings Ltd
   Director                               G.P. No 1 Ltd, G.P. No 2 Ltd, G.P. No 4 Ltd, G.P. No 5 Ltd, Kinleith Co-Generation Ltd
   Trustee                                Royal New Zealand Navy Museum, West Auckland Hospice Foundation Trust, Waitakere Enterprise Board
   Patron                                 The Genesis Oncology Trust, Falls Hotel Preservation Trust, Henderson Heritage Trust, Waitakere City Brass
                                          Band
   Advisory Council Member                New Zealand Advisory Council, Church of Melanesia
   Member                                 New Zealand Parliamentary Audit Assurance Committee

   aliSON timmS
   Chair                                  Insurance and Savings Ombudsman Commission
   Consultant                             Independent Consultant
   Director                               Wellington Waterfront Ltd
   Member                                 New Zealand Parole Board (to May 2008)
   Trustee                                Mercer Individual Retirement Plan, Welcab Board

   judy fiNN
   Director and Shareholder               Neudorf Vineyards Ltd
   Trustee                                Suter Gallery Trust
   Director                               Pinot Noir 2010

   Steve murray
   Managing Director                      EDS (to April 2008)
   Director                               Ngapuhi asset Holding Company Limited
   Trustee                                EEO Trust
   Member                                 Defence Industry Council of New Zealand

   juditH fyfe (retired 31 OctOber 2007)
   Principal                              Fyfe and Doherty
   Co-Director                            City Associates
   Director                               Sound Archives/Ngä Taonga Körero Ltd (to October 2007)
   Member                                 Arts Board of Creative New Zealand, Copyright Tribunal
   Trustee                                New Zealand Branch of Cambodia Trust, Alexander Turnbull Library Endowment Trust

   alaN dick
   Consultant                             Business and Commercial Property
   Chairman                               Hawke's Bay Lotteries Grants Allocation Committee
   Councillor                             Hawke's Bay Regional Council
   Director                               ALIZ Investments Ltd
   Trustee                                Napier Cadet Academy Charitable Trust, Hawke's Bay Addiction Centre Trust

   Sifa taumOepeau
   Manager Government Affairs             SKYCITY Entertainment Group Ltd
   Member                                 Heart of Auckland City Board, Gaming Machine Association of New Zealand




The accompanying notes and accounting policies form an integral part of the financial statements.                                          58
cHriStiNe grice
Principal                        Harkness Henry
Chairperson/Director             Perry Group Ltd (to March 2008)
Acting CEO                       Law Society
Chairperson/Director             Mental Health Research Programmes Ltd (Te Pou)
Chairperson                      New Zealand Law Society Continuing Legal Education Board
Judge                            Cook Islands Court of Appeal
Director                         Kiwano Horned Melons (NZ) Ltd, Harkness Henry Trust Management Ltd, McLaughlins Road Properties Ltd,
                                 Manchester Place Properties Ltd, Tigusi Properties Ltd, Tigusi Trust Ltd
Member                           Council of Legal Education
Trustee                          Riverside Trust


directOrS’ iNdemNity aNd iNSuraNce
Radio New Zealand Limited has effected Directors and Officers liability and Professional Indemnity insurance cover against liabilities to other
parties that may arise from their position as directors. The insurance does not cover liabilities arising from criminal actions.

23      FINANCIAL INSTRUMENTS

Nature of activities and management policies in respect to financial instruments:

a curreNcy riSk
Currency risk is risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates.
Radio New Zealand Limited in 2007-2008 had exposure to foreign exchange risk, which arose from transactions denominated in foreign
currencies arising from capital asset purchases.
In accordance with Radio New Zealand policy, foreign exchange contracts were purchased to manage the risk. As at balance date there were no
foreign exchange contracts outstanding.

b credit riSk
Credit risk is the risk that a third party will default on its obligations to Radio New Zealand Limited, causing Radio New Zealand Limited to incur a
loss. In the normal course of its business Radio New Zealand Limited incurs credit risk from trade debtors and transactions with financial
institutions.
Radio New Zealand Limited has a credit policy, which is used to manage exposure to credit risk. Radio New Zealand Limited does not require any
collateral or security to support financial instruments, as it only deposits with banks with high credit ratings.
Concentrations of credit risk with respect to accounts receivable are high due to the reliance on NZ On Air for 84% of Radio New Zealand Limited’s
revenue. However, NZ On Air is a high-quality credit entity being the government purchaser of national broadcasting services.

c iNtereSt rate riSk
Interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. The company has some
interest rate risk on its borrowings with the bank, which at balance was at call rates.
Surplus funds are invested on call or short-term deposit.

d fair valueS
The carrying value of cash and liquid deposits, investments, accounts receivable, other receivables, dividends payable, bank borrowings,
accounts payable and other creditors is equivalent to their fair value. None of the company’s financial assets or liabilities are considered to have
a fair value which differs from their carrying value. The company is not involved in any off balance sheet activities.




            59                                                      The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   24     EVENTS AFTER THE BALANCE SHEET DATE

   The Chief Executive, Peter Cavanagh, has had his term of employment extended by the Radio New Zealand Board of Governors for a further five
   years, until December 2013.

   25     EXPLANATION OF SIGNIFICANT VARIANCES AGAINST BUDGET

   Significant variances from Radio New Zealand’s budget figures in the Statement of Intent (SOI) are as follows:

   iNcOme StatemeNt

   interest
   Higher cash balances on call deposit in conjunction with higher average interest rates have resulted in interest income $121,000 above budget.

   Other income
   $190,000 less than budget is primarily due to Radio New Zealand not renewing its news sales to other third parties and a drop in third party
   premises rentals in the Auckland owned building.

   personnel
   Salary and other wage increases of 3.52% were provided in 2007-2008.

   depreciation
   The SOI budget provided significant increase in depreciation based on $3m capital expenditure during the year but only $2m of capital
   expenditure was incurred. Late timing of actual expenditure also contributed to this under-budget situation.

   interest expense
   The bank loan facility was not required to support operational and capital expenditure in 2007-2008. Apart from strict cash management the
   Government also provided $521,000 additional capital which assisted positive cash balances.

   balaNce SHeet
   Preference shares of $4.12m were included as equity capital in 2007 and were reclassified to non-current liabilities in 2008.
   Revaluation reserve increased by $28m as Radio New Zealand owned land and buildings were revalued at the end of the financial year.
   Other reserves with a debit balance consist of NZ IFRS movements primarily due to the inclusion of three lease make-good provisions included in
   the balance sheet and a write back of a previous library revaluation to deemed cost.
   Employee entitlements have increased with the additional five days’ annual leave granted to individuals from 1 April 2007. This, in conjunction
   with less average annual leave being taken during the year, has resulted in an increase in the provision.
   Cash and cash equivalents balances are higher than budget at year end with creditors and other payables also higher.
   Property, plant and equipment is higher than budget due to a $28m revaluation increase of land and buildings.

   StatemeNt Of cHaNgeS iN equity
   Changes are due to the revaluation of land and buildings offset by the reclassification of preference shares from equity to liabilities. Other
   reserves have a debit balance from the lease make-good provision adjusted back to take into account the written down value from the start of
   the lease contracts.

   caSH flOw StatemeNt
   Higher receipts from customers and interest income have allowed higher activity in payments to suppliers and employees. Less capital
   expenditure of $911,000 compared with budget is the result of a deferral of a number of capital investments.




The accompanying notes and accounting policies form an integral part of the financial statements.                                     60
26    ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS FOR THE PARENT AND GROUP

Radio New Zealand Limited adopted the New Zealand International Financial Reporting Standards (NZ IFRS) on 1 July 2007. The incorporation of
initial transitional adjustments and the restatement of balances which may impact on the income statement, balance sheet and cashflow
statement, has occurred in the adoption year ending 30 June 2008.
Radio New Zealand is classified as a Public Benefit Entity (PBE) and as such will be reporting under NZ IFRS accounting policies as a PBE. The full
quantitative and qualitative impact on the financial statements are summarised as follows:

impact Of NZ ifrS ON radiO New ZealaNd
disclosure
•	 disclosure	of	information	within	the	primary	financial	statements	rather	than	the	notes;
•	 additional	details	on	non-current	assets	and	their	movements;	and
•	 calculation	and	the	analysis	of	deferred	tax	balances.

employee benefits
NZ IAS 19 requires an entity to:
•	 recognise	a	liability	when	an	employee	has	provided	service	in	exchange	for	employee	benefits	to	be	paid	in	the	future.
Long service leave has previously been recognised by Radio New Zealand on an actuarial basis as opposed to recognising a liability on
entitlement. No further effect on the income statement has occurred.

provisions
NZ IFRS requires make-good clauses in property leases to be recognised in the balance sheet as a future liability.

financial ratios relating to equity
NZ IFRS requires Redeemable Preference Shares to be classified as debt rather than equity in the determination of debt. This will affect any
financial ratio with a debt or equity component in it.

Non-current assets
Computer software has been reclassified as an intangible asset. Therefore property, plant and equipment has reduced and intangible assets
increased by the balance of computer software as at balance date.

asset revaluation reserve restatement
The previous revaluation of the reference library asset of $38,000 and net book value of $27,000 has been reversed during the adoption year.
The effect of this has been reflected in Other Reserves as a debit in Equity in the balance sheet.




          61                                                      The accompanying notes and accounting policies form an integral part of the financial statements.
   Notes to the Financial Statements (continued)
   FOR THE YEAR ENDED 30 JUNE 2008




   27     RECONCILIATION FROM THE TRANSITION FROM NZ GAAP TO NZ IFRS

   Radio New Zealand’s transition date is 1 July 2007 and the opening NZ IFRS balance sheet has been prepared as at that date.
   The adoption date is 1 July 2008.

                                                                                            1 july 2006                      30 juNe 2007
                                                                                              effect ON                         effect ON
                                                                            previOuS         traNSitiON             previOuS   traNSitiON
                                                                             NZ gaap            NZ ifrS   NZ ifrS    NZ gaap       NZ ifrS        NZ ifrS
                                                               NOte            $000                $000     $000       $000          $000           $000

   EqUITY
   Share capital
   – ordinary shares                                                          16,171                 0    16,171     16,171             0         16,171
   – preference shares                                              a           4,120                0     4,120      4,120        (4,120)               0
   Revaluation reserve                                                          2,280                0     2,280      2,280             0          2,280
   Retained earnings                                                b           5,830                0     5,830      5,906          (638)         5,268
   Total equity                                                               28,401                 0    28,401     28,477        (4,758)        23,719

   CURRENT LIABILITIES
   Creditors and other payables                                                 1,872                0     1,872      1,996             0          1,996
   Employee entitlements                                                        1,203                0     1,203      1,258             0          1,258
   Provision for tax                                                               (90)              0       (90)         (4)           0                (4)
   Revenue received in advance                                                    568                0       568        562             0               562
   Total current liabilities                                                    3,553                0     3,553      3,812             0          3,812

   NON-CURRENT LIABILITIES
   Employee entitlements                                                            68               0        68         73             0                73
   Revenue received in advance                                                    301                0       301        224             0               224
   Provisions                                                       c                 0              0         0           0          819               819
   Preference shares                                                a                 0              0         0           0        4,120          4,120
   Total non-current liabilities                                                  369                0       369        297         4,939          5,236
   total liabilities and equity                                               32,323                 0    32,323     32,586           181         32,767

   CURRENT ASSETS
   Cash and cash equvalents                                                     1,148                0     1,148       1,306            0          1,306
   Debtors                                                                        653                0       653        689             0               689
   Other receivables and prepayments                                              493                0       493        491             0               491
   Deferred tax asset                                                                 0              0         0           0            0                 0
   Total current assets                                                         2,294                0     2,294       2,486            0          2,486

   NON-CURRENT ASSETS
   Intangibles                                                                    663                0       663        488           254               742
   Property, plant and equipment                                    d         29,366                 0    29,366     29,612           (73)        29,539
   Total non-current assets                                                   30,029                 0    30,029     30,100           181         30,281
   total assets                                                               32,323                 0    32,323     32,586           181         32,767

a) Preference shares have been reclassified as a liability due to the conditions for repayment to the Crown.
b) Radio New Zealand is required to recognise the present value of expected future lease make-good payments at the expiry of three property leases in
   Wellington, Christchurch and Dunedin. The estimated accumulated depreciation is a debit to equity. A previous revaluation of the Radio New Zealand
   library was reversed to reflect the original deemed value of the asset.
c) Radio New Zealand is required to recognise the present value of expected future lease make-good payments at the expiry of three property leases in
   Wellington, Christchurch and Dunedin.
d) Recognition of an asset due to the provision of the lease make-good estimate and the write back of a library asset to deemed cost.




The accompanying notes and accounting policies form an integral part of the financial statements.                                            62
Statement of Service Performance
FOR THE YEAR ENDED 30 JUNE 2008




This statement reports on the performance of Radio New Zealand Limited in relation to the key performance indicators set out in its Statement
of Intent for the year ended 30 June 2008.


                                                                radiO             radiO        SOuNd                   radiO
                                                          New ZealaNd       New ZealaNd  arcHiveS/NgÄ           New ZealaNd
                                                             NatiONal          cONcert taONga kÖrerO           iNterNatiONal             tOtal
                                                                 2008              2008          2008                   2008              2008
                                                                 $000              $000          $000                   $000              $000


RECONCILIATION OF OUTPUT FINANCIAL STATEMENTS
TO GROUP NET SURPLUS/(DEFICIT) BEFORE TAX


INCOME
NZ On Air funding                                               24,189             4,668               722               123           29,702
Ministry for Culture and Heritage funding                             –                 –                 –            1,900            1,900
Other                                                            3,080               361                91               152            3,684
Total income                                                    27,269             5,029               813             2,175           35,286


EXPENDITURE
NZ On Air operations                                            27,349             4,866               887                 –           33,102
Ministry for Culture and Heritage operations                          –                 –                 –            2,155            2,155
Total expenditure                                               27,349             4,866               887             2,155           35,257


Net surplus/(deficit)                                               (80)             163               (74)               20                29




         63
Statement of Service Performance (continued)
FOR THE YEAR ENDED 30 JUNE 2008




Output claSS – radiO New ZealaNd NatiONal

1. role
Radio New Zealand National is a nationwide network providing news, current affairs, feature documentaries and entertainment programmes,
including music programmes featuring both New Zealand and international artists. Many of the quality programmes featured on
Radio New Zealand National are not available on commercial radio because they are not considered commercially viable. The following are
examples of the non-commercial public service broadcasting programmes to be found on Radio New Zealand National:
•	 Morning Report – authoritative and comprehensive coverage of local and world events;
•	 Midday Report – delivering comprehensive news bulletin, business news, rural news, sports news, long range weather forecasts and Worldwatch;
•	 Afternoons with Jim Mora – an audience participation show to stimulate, enlighten and entertain the listener. Includes The Panel promoting
   critical thought on a wide range of topics;
•	 Nine to Noon – provides in-depth debate on topical national and international news, with feature interview profiles to stimulate new ideas;
•	 Checkpoint – a hard-hitting daily news-focused programme;
•	 Nights with Bryan Crump – dedicated to encouraging fresh ideas and music along with the best radio documentaries and features from here
   and overseas;
•	 This Way Up – a programme exploring consumer-related stories and issues. Entertaining and informative, it includes global and local
   correspondents, mini features, product tests, studio discussions and a themed feature each week. Digital Life is also part of the show;
• The Arts on Sunday – the show celebrates the diversity of creativity, both here and overseas, with views, reviews, previews, interviews,
   a regular comedy slot and the play of the week;
•	 Saturday Morning with Kim Hill – a magazine programme with interviews, food, books and music; and
•	 Sunday Morning with Chris Laidlaw – a thought-provoking range of interviews, documentaries and music, including Mediawatch and Insight.

2. listenership
meaSured by: Radio listening surveys.
reSult:

                                                                                                                2007-2008 all         2007 all
                                                                                                                 New ZealaNd      New ZealaNd
                                                                                                                 radiO Survey     radiO Survey
type Of ratiNg                          deScriptiON                                                                  (NOte 1)         (NOte 2)

Cume                                    Number of different people who listen for at least an 8 minute period        501,000           487,000
                                        from Monday to Sunday, 12 midnight to 12 midnight.
Percentage of available audience        The Radio New Zealand National percentage of the number of 15+                  17.5%            16.7%
                                        listeners who listen to any radio station from Monday to Sunday, 12
                                        midnight to 12 midnight.

NOTE 1: The 2007-2008 survey covered 40 weeks of surveying and had a sample size of n=4,121.
NOTE 2: The timing of the survey period meant that 2007 was regarded as a transitional year with interim results obtained from just
20 weeks of surveying (instead of 40 weeks) and a sample size n= 2,058.




                                                                                                                                  64
  3. quality
  meaSured by: Surveying listeners’ perception of the “quality” of Radio New Zealand National’s programming.
  reSult:

                                                                                                            2007-2008 radiO            2007 radiO
                                                                                                                New ZealaNd           New ZealaNd
                                                                                                            liSteNer Survey       liSteNer Survey

  Improved                                                                                                                26%                    25%
  Remained constant                                                                                                       70%                    68%
  Deteriorated                                                                                                             4%                     7%
  Percentage improved and constant                                                                                        96%                    93%


  4. broadcast Standards
  meaSured by: Formal complaints upheld
  reSult:

                                                                                              actual cOmplaiNtS                 actual cOmplaiNtS
  meaSuremeNt baSiS                                                                                       2008                              2007

  Number of complaints upheld                                                                                   3                                 1


  5. programme Hours by charter function
  meaSured by: Statistics of programme hours by specific Charter function.
  reSult:

                                                                                          actual         actual %          actual         actual %
                                                                                          HOurS            HOurS           HOurS            HOurS
  cHarter fuNctiON 1                                                                        2008            2008             2007            2007

  A    Intellectual, scientific and cultural development. Informed debate and              8,197             93%            7,769                89%
       critical thought.
  B    Information, special interest and entertainment. Reflect cultural                   8,153             93%            8,310                95%
       diversity including Mäori language and culture.
  C    Varied interests within the community. Information, educational, special            1,976             23%            1,619                18%
       interest and entertainment.
  D    Musical, dramatic and performing arts. New Zealand and international                2,092             24%            1,891                22%
       composers, performers and artists.
  E    Nationwide service, highest quality. Sense of citizenship and national              8,784            100%            8,760            100%
       identity.
  F    Comprehensive, independent, impartial, balanced news and current                    3,668             42%            2,723                31%
       affairs. Regional perspective.
  G    Comprehensive, independent, impartial, balanced international news
       and current affairs.                                                                1,190             14%            1,186                14%




1 Particular programmes produced and broadcast have been assessed in terms of the contribution that the programme makes to Radio New Zealand’s
  statutory Charter functions. Most programmes contribute to more than one Charter function.



             65
Statement of Service Performance (continued)
FOR THE YEAR ENDED 30 JUNE 2008




6. transmission coverage
meaSured by: The percentage of the total New Zealand population able to receive the network signal.
reSult:

                                                                                                  actual %            target %      actual %
                                                                                               cOverage Of         cOverage Of   cOverage Of
                                                                                                pOpulatiON          pOpulatiON    pOpulatiON
traNSmiSSiON type                                                                                    2008                2008          2007

AM (amplitude modulation)                                                                                96%              96%            96%
FM (frequency modulation)                                                                                90%              90%            90%
Total terrestrial coverage                                                                               97%              97%            97%
Satellite digital service                                                                               100%             100%           100%

The target has been achieved.


7. transmission Outage
meaSured by: The average time lost over Radio New Zealand National’s AM and FM transmitters, other than for programmed maintenance.
reSult

                                                                                                    actual %                          actual %
                                                                                                Of time lOSt           target     Of time lOSt
                                                                                                       2008              2008            2007

Unplanned programme time lost per transmitter                                                           0.06% Less than 0.10%           0.05%

The target has been achieved.


8. Statement of Output financial performance

                                                                                                   actual 2008     target 2008    actual 2007
                                                                                                          $000            $000           $000

INCOME
NZ On Air funding                                                                                        24,189         24,178        23,118
Other                                                                                                     3,080          3,368          3,115
Total income                                                                                             27,269         27,546        26,233

EXPENDITURE
NZ On Air operations                                                                                     27,349         27,512        26,470
Total expenditure                                                                                        27,349         27,512        26,470

Net surplus/[deficit)                                                                                       (80)            34           (237)
The target has been achieved. All variances from target are less than 1% and not considered material.




                                                                                                                                 66
Output claSS – radiO New ZealaNd cONcert

1. role
Radio New Zealand Concert brings fine music in stereo to 100% of New Zealanders, through a network of FM transmitters and digital
satellite. Musical, dramatic and performing arts comprise 96% of Radio New Zealand Concert’s broadcasts, with a repertoire featuring
mainly classical music but also including jazz and special interest music. The remaining 4% of broadcasts comprises Mäori language
and culture, news and weather.

2. listenership
meaSured by: Radio listening surveys.
reSult:

                                                                                                                    2007-2008 all       2007 all
                                                                                                                     New ZealaNd    New ZealaNd
                                                                                                                     radiO Survey   radiO Survey
type Of ratiNg                          deScriptiON                                                                      (NOte 1)       (NOte 2)


Cume                                    Number of different people who listen for at least an 8 minute period            201,000        207,000
                                        from Monday to Sunday, 12 midnight to 12 midnight.
Percentage of available audience        The Radio New Zealand Concert percentage of the number of 15+                       7.0%           7.1%
                                        listeners who listen to any radio station from Monday to Sunday,
                                        12 midnight to 12 midnight.

NOTE 1: The 2007-2008 survey covered 40 weeks of surveying and had a sample size of n=4,121.
NOTE 2: The timing of the survey period meant that 2007 was regarded as a transitional year with interim results obtained from just 20 weeks of
surveying (instead of 40 weeks) and a sample size n= 2,058.


3. quality
meaSured by: Surveying listeners’ perception of the “quality” of Radio New Zealand Concert’s programming.
reSult:

                                                                                                                2007-2008 radiO      2007 radiO
                                                                                                                    New ZealaNd     New ZealaNd
                                                                                                                liSteNer Survey liSteNer Survey

Improved                                                                                                                      18%             9%
Remained constant                                                                                                             78%            85%
Deteriorated                                                                                                                   4%             6%
Percentage improved and constant                                                                                              96%            94%


4. broadcast Standards
meaSured by: Formal complaints upheld
reSult:

                                                                                             actual cOmplaiNtS                 actual cOmplaiNtS
meaSuremeNt baSiS                                                                                        2008                              2007

Number of complaints upheld                                                                                     0                             0




             67
  Statement of Service Performance (continued)
  FOR THE YEAR ENDED 30 JUNE 2008




  5. programme Hours by charter function
  meaSured by: Statistics of programme hours by specific Charter function.
  reSult:

                                                                                           actual         actual %           actual         actual %
                                                                                           HOurS            HOurS            HOurS            HOurS
  cHarter fuNctiON 1                                                                         2008            2008              2007            2007

  A    Intellectual, scientific and cultural development. Informed debate and                    –                 –               –                –
       critical thought.
  B    Information, special interest and entertainment. Reflect cultural                        82                 1%            66                1%
       diversity including Mäori language and culture.2
  C    Varied interests within the community. Information, educational, special             8,874             100%            8,760              100%
       interest and entertainment.
  D    Musical, dramatic and performing arts. New Zealand and international                 8,496              97%            8,406               96%
       composers, performers and artists.
  E    Nationwide service, highest quality. Sense of citizenship and national                    –                 –               –                –
       identity.
  F    Comprehensive, independent, impartial, balanced news and current                       191                  2%           178                2%
       affairs. Regional perspective.2
  G    Comprehensive, independent, impartial, balanced international news
       and current affairs.2                                                                    97                 1%            84                1%


  6. transmission coverage
  meaSured by: The percentage of the total New Zealand population able to receive the network signal.
  reSult:

                                                                                                        actual %           target %       actual %
                                                                                                     cOverage Of        cOverage Of    cOverage Of
                                                                                                      pOpulatiON         pOpulatiON     pOpulatiON
  traNSmiSSiON type                                                                                        2008               2008           2007

  FM (frequency modulation)                                                                                 92%                92%                92%
  Satellite digital service                                                                                100%               100%               100%

  The target has been achieved.




1 Particular programmes produced and broadcast by Radio New Zealand Concert have been assessed in terms of the contribution that they make to
  Radio New Zealand’s statutory Charter functions. Most programmes contribute to more than one Charter function.
2 While Radio New Zealand Concert’s programmes may broadly meet the intentions of Charter functions B, F and G, its primary role is to provide
  services intended by functions C and D.



                                                                                                                                       68
7. transmission Outage
meaSured by: The average time lost over Radio New Zealand Concert’s FM transmitters, other than for programmed maintenance.
reSult

                                                                                              actual %                            actual %
                                                                                          Of time lOSt           target       Of time lOSt
                                                                                                 2008              2008              2007

Unplanned programme time lost per transmitter                                                    0.02% Less than 0.10%              0.05%

The target has been achieved.


8. Statement of Output financial performance

                                                                                             actual 2008     target 2008      actual 2007
                                                                                                    $000            $000             $000

INCOME
NZ On Air funding                                                                                  4,668           4,668            4,668
Other                                                                                                361             178              437
Total income                                                                                       5,029           4,846           5,105

EXPENDITURE
NZ On Air operations                                                                               4,866           4,835            4,784
Total expenditure                                                                                  4,866           4,835           4,784

Net surplus/(deficit)                                                                                163              11              321
The target has been achieved.




         69
Statement of Service Performance (continued)
FOR THE YEAR ENDED 30 JUNE 2008




Output claSS – radiO New ZealaNd SOuNd arcHiveS/NgÄ taONga kÖrerO limited

1. role
Radio New Zealand Sound Archives/Ngä Taonga Körero Limited collects recordings of broadcast radio programmes, and related sound recordings,
from across the spectrum of all New Zealand stations and networks, and stores them for posterity. This resource is available to all New Zealanders on
a cost recovery basis.

2. material acquired and preserved
meaSured by: The combined hours for the two archives of recordings acquired and preserved.
reSult:

                                                                                                    actual HOurS            target actual HOurS
                                                                                                        acHieved            HOurS      acHieved
type                                                                                                        2008              2008         2007


Material acquired                                                                                           2,324            1,300           1,988
Material preserved                                                                                          1,828            1,900           1,917

The target was part achieved. Of the 2,324 hours of material received by Sound Archives/Ngä Taonga Körero, 1,017 hours were of historical
programmes, material of the highest heritage value. The archive is resourced to manage just 100 hours of historical material per year. The
growing backlog of material acquisitioned has hampered the preservation programme.


3. making recordings available to all New Zealanders on request
meaSured by: Public access to recordings.
reSult:

During the period material was accessed through Sound Archives/Ngä Taonga Körero Limited, by members of the public, students and
researchers, libraries and museums, and broadcasters and programme producers. Material was made available and accessed on-site at
Auckland and Christchurch; the bulk of the material was distributed via CD for listening.


4. Statement of Output financial performance

                                                                                                     actual 2008      target 2008      actual 2007
                                                                                                            $000             $000             $000

INCOME
NZ On Air funding                                                                                             722              695             700
Other                                                                                                          91               65               51
Total income                                                                                                  813              760             751

EXPENDITURE
NZ On Air operations                                                                                          887              760             751
Total expenditure                                                                                             887              760             751

Net surplus/(deficit)                                                                                         (74)                0               0
Target not achieved. Variance between target and actual funding was due to increased additional income from sundry sales and to cover
increased staffing salaries. Variance between actual expenditure and target expenditure was due to additional costs for special projects and the
funding to support an additional cataloguing position.




                                                                                                                                      70
Output claSS – radiO New ZealaNd iNterNatiONal

1. role
Radio New Zealand will provide an international radio service to the Pacific through Radio New Zealand International. This service will:
•	 broadcast	innovative,	comprehensive	and	independent	news	and	programming	of	interest	to	the	Pacific	region;
•	 provide	a	reliable	account	of	Pacific	and	New	Zealand	affairs	for	relay	and	use	by	broadcasters	and	listeners	within	the	Pacific	and	beyond;
•	 broadcast	programming	which	encourages	an	awareness	and	understanding	of	New	Zealand	policies	on	regional	issues	of	concern,	foreign	
   relations, development assistance, immigration, human rights, economic developments, the environment and trade opportunities; and
•	 provide	a	reliable	source	of	information	in	the	event	of	natural	disasters	or	a	breakdown	of	local	communication	services	(additional	costs	of	
   this service by the Ministry of Foreign Affairs and Trade are not included in the cost below).

2. listenership
meaSured by: The rebroadcast of Radio New Zealand International in the Pacific region by Pacific radio stations.
reSult:
The target has been achieved. Eighteen Pacific radio stations relayed Radio New Zealand International daily during the period.

3. transmission coverage
meaSured by: Geographic location and grade of transmission at each site. Transmission grades are measured by the average hours of good
quality reception available per day and Primary, 18 hours; Secondary, 12 hours: and General, 6 hours.
reSult:
The target has been achieved. Primary coverage: French Polynesia, Cook Islands, Tokelau, American Samoa, Samoa, Niue, Tonga, Wallis and
Futuna, Fiji, Tuvalu, New Caledonia, Vanuatu, and Solomon Islands.
Secondary coverage: Papua New Guinea, Nauru, Kiribati, Federated States of Micronesia, Marshall Islands, and Palau.
General coverage: Asia/Pacific and Pacific rim.
Additional coverage in Asia was achieved through Radio Australia’s rebroadcast of selected Radio New Zealand International material on their
satellite services across Asia and also through relays by the BBC World Service.

4. transmission Outage
meaSured by: The average time lost over Radio New Zealand International’s transmitters, other than for programmed maintenance.
reSult:
                                                                                                      actual %                             actual %
                                                                                                  Of time lOSt             target      Of time lOSt
                                                                                                         2008                2008             2007

Unplanned programme time lost per transmitter                                                            0.06% Less than 0.10%               0.04%

The target has been achieved.

4. Statement of Output financial performance

                                                                                                     actual 2008      target 2008      actual 2007
                                                                                                            $000             $000             $000

INCOME
Ministry for Culture and Heritage funding                                                                   1,900            1,899           1,900
Other                                                                                                         275              275             211
Total income                                                                                                2,175           2,174           2,111

EXPENDITURE
Ministry for Culture and Heritage operations                                                                2,155            2,169           2,119
Total expenditure                                                                                           2,155           2,169           2,119

Net surplus/(deficit)                                                                                            20              5              (8)
The target has been achieved.


          71
Directory
FOR THE YEAR ENDED 30 JUNE 2008




                                                                                      -         -
regiStered Office                 radiO New ZealaNd NewS             SOuNd arcHiveS/Nga taONga kOrerO
Level 2                           Radio New Zealand House            Auckland Office (Mäori Collection)
Radio New Zealand House           155 The Terrace                    171 Hobson Street
155 The Terrace                   PO Box 123                         PO Box 2209
PO Box 123                        Wellington                         Auckland
Wellington                        PHONE: 04 474 1999                 PHONE: 09 367 9301
PHONE: 04 474 1999                FAX: 04 473 0185                   FAX: 09 367 9330
FAX: 04 474 1459
EMAIL: rnz@radionz.co.nz          radiO New ZealaNd iNterNatiONal    auditOr
www.radionz.co.nz                                                    Audit New Zealand
                                  Radio New Zealand House
                                                                     Level 8
                                  155 The Terrace
aucklaNd Office                                                      St Pauls Square
                                  PO Box 123
171 Hobson Street                                                    45 Pipitea Street
                                  Wellington
PO Box 2209                                                          Private Bag 99
                                  PHONE: 04 474 1437
Auckland                                                             Wellington
                                  FAX: 04 474 1433
PHONE: 09 367 9300
                                  EMAIL: info@rnzi.com
FAX: 09 367 9330                                                     baNker
                                  www.rnzi.com
                                                                     Westpac

cHriStcHurcH Office                                                  318 Lambton Quay
                                  SOuNd arcHiveS/NgÄ taONga kÖrerO
Radio New Zealand House                                              PO Box 691
                                  Head Office (General Collection)
Cnr Chester and Durham Streets                                       Wellington
                                  Radio New Zealand House
PO Box 1531
                                  Level 1
Christchurch                                                         maiN legal adviSOr
                                  51 Chester Street West             Buddle Findlay
PHONE: 03 374 8464
                                  PO Box 1531                        1 Willis Street
FAX: 03 374 5115
                                  Christchurch                       PO Box 2694
radiO New ZealaNd NatiONal        PHONE: 03 374 8440                 Wellington
radiO New ZealaNd cONcert         FAX: 03 374 8448
Radio New Zealand House           EMAIL: info@soundarchives.co.nz
155 The Terrace                   www.soundarchives.co.nz
PO Box 123
Wellington
PHONE: 04 474 1999
FAX: 04 474 1876
EMAIL: concert@radionz.co.nz




Radio New Zealand
is funded by




                                                                                                  72

				
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