2023 Annual Adjustments


2023 Annual Adjustments

The Annual Adjustment ensures accurate funding entitlements have been provided.

It is a recalculation of the whole 2023 funding year after the Quarter 4 (Q4) instalment was published. Any change to roll, staffing or rates processed after Q4, may result in adjustments to funding entitlements over the year

An Annual Adjustment for the operational funding year may display a zero adjustment ($0.00), a payment, or a recovery.

Navigate to the 2023 funding year display in the Operational Funding tab.

Check the Funding position is 'Annual Adjustment Published'

screen shot for operational funding

The resulting payment or recovery displays in the Annual Adjustment Instalment summary. If a zero adjustment is found, the total amount will appear as $0.00

An adjustment to levy payments will generate a tax invoice. This can be downloaded from the ‘levy invoice’ button.

screen shot Annual Adjustment instalmenticon levy invoice

If an adjustment to the 2023 entitlement is generated from the recalculation, the payment or recovery will be made with the Quarter 1 (Q1) Operational Funding Payment on 3 January 2024.  

Both transactions will be recorded on the Funding Summary screen with the same bank reference.

screen shot funding summary

The most common reasons for an Annual Adjustment resulting in a payment or recovery are a roll audit or roll resubmission, Collective Agreement changes, backdating of requests such as Kāhui Ako, rate changes, and withdrawal or opt-in to levy schemes that were processed after Q4 Operational Funding was published.

The Annual Adjustment can be extracted directly from Pourato to an excel file.

  1. Go to Funding>Operational Funding
  2. Select Funding for the year>2023
  3. Select Funding Position>Annual Adjustment
  4. Click Export to Excel

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