New Zealand Gazette – 1996 – No. 123

Page 3101

✨ Financial Performance Statement



20 SEPTEMBER

NEW ZEALAND GAZETTE

3101

NOTE 1: SALES - FOR THE YEAR ENDED 31 MARCH 1996

NETWORK 1995-96 OTHER TOTAL NETWORK 1994-95 OTHER TOTAL
Energy 7,408,722 7,408,722 7,502,090 7,502,090
Network 6,536,708 6,536,708 6,257,701 6,257,701 6,257,701
Contracts 1,923,133 1,923,133 1,365,402 1,365,402
Retail 1,445,300 1,445,300 1,387,695 1,387,695
$6,536,708 $10,749,748 $17,286,456 $6,257,701 $10,255,187 $16,512,888

NOTE 2: INVESTMENT INCOME - FOR THE YEAR ENDED 31 MARCH 1996

NETWORK OTHER TOTAL NETWORK OTHER TOTAL
Short term Investments 282,852 282,852 265,804 265,804
Staff Mortgages 9,290 9,290 12,439 12,439
Use of Money Interest 0 0 3,722 3,722
$292,142 $292,142 $281,965 $281,965

NOTE 3: OTHER INCOME - FOR THE YEAR ENDED 31 MARCH 1996

NETWORK OTHER TOTAL NETWORK OTHER TOTAL
Bad Debts Recovered 3,968 3,968 4,223 4,223
Prompt Payment Discounts Disallowed 48,169 65,481 113,650 47,978 60,920
Transfer Fees 35,442 35,442 38,416 38,416
Scrap 68,739 68,739 6,650 6,650
Capital Contributions 126,906 126,906 246,159 246,159
Other 256 20,103 20,359 431 10,343
$175,331 $193,733 $369,064 $294,568 $120,552 $415,120

NOTE 4: EXPENSES - FOR THE YEAR ENDED 31 MARCH 1996

Included within expenses are :

| Electricity Purchases | 6,937,218 | 6,937,218 | 6,906,720 | 6,906,720 |
| Trans Power Charges | 2,434,068 | 2,434,068 | 2,349,400 | 2,349,400 |
| Directors Fees | 79,238 | 79,238 | 74,726 | 74,726 |
| Bad Debts | 4,468 | 8,649 | 13,117 | 6,078 | 14,870 | 20,948 |
| Audit | 29,000 | 29,000 | 25,000 | 25,000 |
| Interest | 45,208 | 45,208 | 45,156 | 45,156 |
| Depreciation | 581,133 | 316,924 | 898,057 | 531,982 | 269,568 | 801,550 |
| Loss on sales of assets | 15 | 296 | 311 | 1,288 | 4,755 | 6,043 |
| Donations | 19,048 | 19,048 | 2,848 | 2,848 |

NOTE 5: FIXED ASSETS

DISTRIBUTION 1995-96 NETWORK OTHER TOTAL 1994-95 NETWORK OTHER TOTAL
Less Accumulated Depreciation 11,328,304 11,328,304 10,765,388 10,765,388
4,100,827 4,100,827 3,565,508 3,565,508
$ 7,227,477 $ - $ 7,227,477 $ 7,199,880 $ - $ 7,199,880

LAND

| 16,559 | 73,310 | 89,869 | 16,041 | 73,310 | 89,351 |

BUILDINGS

| 77,354 | 2,587,517 | 2,664,871 | 88,881 | 2,575,990 | 2,664,871 |
| Less Accumulated Depreciation | 17,804 | 535,270 | 553,074 | 17,115 | 489,603 | 506,718 |
| $ 76,109 | $ 2,125,557 | $ 2,201,666 | $ 87,807 | $ 2,159,697 | $ 2,247,504 |

PLANT & EQUIPMENT

| 220,581 | 1,486,197 | 1,706,778 | 123,249 | 1,338,586 | 1,461,835 |
| Less Accumulated Depreciation | 118,386 | 682,445 | 800,831 | 56,815 | 576,293 | 633,108 |
| $ 102,195 | $ 803,752 | $ 905,947 | $ 66,434 | $ 762,293 | $ 828,727 |

MOTOR VEHICLES

| 87,850 | 1,174,230 | 1,262,080 | 0 | 1,141,113 | 1,141,113 |
| Less Accumulated Depreciation | 33,164 | 599,519 | 632,683 | 0 | 586,961 | 586,961 |
| $ 54,686 | $ 574,711 | $ 629,397 | $ - | $ 554,152 | $ 554,152 |

TOTAL

| $ 7,460,467 | $ 3,504,020 | $ 10,964,487 | $ 7,354,121 | $ 3,476,142 | $ 10,830,263 |

NOTE 6: OPTIMISED DEPRECIATED VALUE

The Optimised depreciated value as April 1,1994 was $41,647,589, additions $1,261,694, value March 31, 1996 is $42,909,283



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🏭 Waitaki Power Limited Financial Performance Statement (continued from previous page)

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Financial Performance, Income, Expenses, Surplus, Tax, Equity, Assets, Liabilities