STATEMENT OF RESPONSIBILITY

This Statement of Performance Expectations (SPE) is submitted by the Board of Predator Free 2050 Limited, pursuant to the Crown Entities Act 2004. This SPE sets out the forecast performance of Predator Free 2050 Limited for the period from 1 July 2022 to 30 June 2023. This SPE is submitted in the knowledge that several reviews are currently underway, and the outcomes of those reviews may impact on Predator Free 2050 Limited. This may then result in amendments to this SPE, pursuant to section 149K of the Crown Entities Act 2004.

Predator Free 2050 Limited’s prospective financial statements have been prepared in accordance with New Zealand Generally Accepted Accounting Practice (GAAP) and its audited accounts will comply with the applicable financial reporting standards. The financial statements have been prepared consistent with Public Benefit Entity Tier 2 requirements, on the basis that the Company has not met the expenditure threshold that requires the Company to report consistent with Tier 1 requirements.

The Board of Predator Free 2050 Limited is responsible for the prospective financial statements contained in this document, including the appropriateness of the underlying assumptions.

On behalf of the Predator Free 2050 Limited Board

Estelle Leask, Director David MacLeod, Chair

Introduction

Each year, Predator Free 2050 Limited (the Company) is required to publish a SPE that outlines its planned activity, performance targets and forecast financial information for the relevant financial year. The SPE sits alongside its Statement of Intent 2022-2026 (SOI) and describes how this year’s work will contribute to achieving the strategic direction set out in the SOI. This SPE covers the 2022/23 financial year (1 July 2022 to 30 June 2023) and comprises two parts:

Part One: Non-financial planning and performance – describes the Company’s work for the year ahead through its Outcomes Framework.

Part Two: Forecast Financial Statements –provides our financial statements for the 2022/23 year and the notes to those statements.

In this SPE, we describe the links between our strategy and activities, as well as the performance measures and targets we intend to achieve through the exercise of our functions over the coming year. In developing this SPE, we have engaged with the Minister of Conservation and the Department of Conservation.

Purpose

The Company was created in 2016 to make a significant contribution to the New Zealand government’s goal of eradicating possums, stoats, and rats by 2050.

It is constituted as a Crown-owned Company under Schedule 4A of the Public Finance Act 1989. It is registered under the Charities Act 2005.

We facilitate partnerships and co-funding arrangements that enable large landscape predator eradication operations and drives the breakthrough science needed to underpin them. Recognising the national leadership role that we can play in predator eradication and control, we were allocated $76M in funding over four years through Budget 2020, representing a significant investment towards a predator free future. We currently receive funding through Vote Conservation, the Provincial Growth Fund and the Jobs for Nature programme.

Monitoring is provided through the Department of Conservation. As part of this monitoring function, a review of the Company was recently undertaken to understand whether the Company and its structure are meeting the purpose anticipated and agreed by Cabinet in 2016. The outcomes of the review may require changes to this SPE.