The accounts have been subject to much volatility during the past six years, with forecasts proving inaccurate, even within a few weeks of their release.
This may be a career-defining moment for Mr English.
He will already know the state of the accounts and will now be contemplating his political future.
If the accounts are in surplus, then as a list MP, he has nothing left to prove.
His employment options overseas will certainly be enhanced by a surplus, as other major economies continue to use fiscal stimulus to generate economic growth.
When Mr English and Prime Minister John Key were campaigning to get into government in 2008, they made a pledge to return the accounts to surplus, while improving the level of public service provided throughout New Zealand.
As time went on, Mr English found himself battling a global economic slowdown, a financial crisis that missed New Zealand mostly because the Government continued to borrow to pay for infrastructure work.
The Government also sold down its stakes in state-owned companies such as Meridian Energy, Mighty River Power and Genesis so they could be listed on the NZX.
Also, the stake in Air New Zealand was further reduced.
The Government still holds a controlling stake in the companies and has reaped the rewards of improved dividends in the latest financial year.
Whether New Zealand will achieve a fiscal surplus has been like the dance of the seven veils.
At one stage, Mr English was adamant we were back in black, then it was a narrow miss.
Latterly, he was definitely ruling out a surplus before the May accounts.
Those May accounts showed an operating balance excluding gains and losses (obegal) of nearly $1.2 billion, against a forecast of just $193 million, a turnaround of $983 million.
The Treasury is notoriously inaccurate with its forecasts, even on matters as seemingly simple as the tax take.
Its forecasts for a deficit of $684million for the year ended June should not be taken as a given.
Labour finance spokesman Grant Robertson told the Otago Daily Times he expected a surplus for the year ended June, as the Government had experienced the top of an economic cycle in recent years.
The dairy payout had reached $8 a kg of milk solids and there had been other favourable economic conditions.
Labour had run surpluses when it was last in government, although it was unlikely the surplus declared today would reach the same level, he said.
''I do suspect there has been a bit of shifting money around to achieve this surplus. What New Zealanders should now be worried about is the state of the economy leading into the 2015-16 year. I do not know of one commentator who expects a surplus this year.
''This will be one surplus out of eight for the National Government and I suspect it will be one out of nine.''
Green Party finance spokeswoman Julie Anne Genter also expected a small surplus to be declared today but questioned at what cost the goal had been achieved.
''We see local police stations closing, kids losing their school pools and state houses being sold.''
Like Mr Robertson, Ms Genter expected a surplus today to be the last for a while, with the Reserve Bank forecasting deficits until 2018.
It had been the Green view the short-term growth was not broad-based enough to be sustained.
Growth had been based on the Canterbury rebuild and the Auckland housing bubble, neither of which was long term, she said.
At a glance
• Surplus expected in Crown accounts released today at 1pm.
• Surplus will be small and Labour says it will involve the shifting around of money.
• The surplus is likely to be the first and last for several years.
• The financial reputation of Bill English depends on reaching a surplus before he leaves Parliament.
