The true impact of Coastguard New Zealand (CNZ) is best evaluated by reading our Statement of Service Performance and the outcome stories we share throughout this report. Those outputs and outcomes - lives saved and boaties assisted, safety services delivered and volunteers and student education - are our true measure of success.
Such service comes at a cost and, thankfully for Coastguard and all who benefit from these services, those costs are greatly reduced through the very substantial contribution of our volunteers, who give their labour and expertise for free.
In the first year of Coastguard New Zealand being a consolidated entity, the revenue for the year ended 30th June 2021 was $26,024m and Expenses were $30.079m leading to a reported net deficit of $4.054m. The key driver of this deficit is the impact of the distribution of our America’s Cup rescue vessels to units, resulting in an impairment in the year end accounts of $6.7m.
A truer reflection of the overall success of Coastguard New Zealand for the year ending 30th June 2021, is our underlying Operating Surplus of $3.370m.
In what has been a challenging year with many external factors there is much to be proud of: