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New Zealand Gazette – 1997 – No. 165

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✨ Financial Statements Notes

26 NOVEMBER NEW ZEALAND GAZETTE 3907

TRANSPOWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1997

4. OPERATING EXPENSES

	1997	1996
	$000	$000
Administration and general costs	56,741	49,792
Asset operation and maintenance costs	97,190	97,009
Security product costs	24,726	18,877

Charges in respect of assets:

	1997	1996
Depreciation - leased assets	9,439	6,959
Depreciation - owned assets	96,764	83,943
Infrastructure asset service potential adjustment	24,205	19,795
Stock and asset write offs	11,257	11,262

Charges in respect of receivables:

	1997	1996
Bad debts written off	-	4
Movement in the provision for doubtful debts	806	623
Directors' fees	239	239
Donations	285	243
Lease and rental costs	2,274	2,588

Total Operating Expenses | 323,926 | 291,334 |

Related Party Transactions

Expenses charged by :

	1997	1996
ECNZ Group	22,981	20,641
BCL	227	365
Works Consultancy Services	1,744	2,581
Contact Energy	4,899	1,898
Transpower Group subsidiaries	-	-
Total	29,851	25,485

Expenses charged by the ECNZ Group relate to contracts for the operation and maintenance of the National Grid, systems costs and consultancy services. Systems costs are also charged by Contact Energy. Lease costs for communications sites are charged by BCL. Works Consultancy Services provide engineering consultancy services.

Net loss on the disposal of fixed assets included in stock and asset write offs:

	1997	1996
Net loss on the disposal of fixed assets	8,008	9,470

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VUW Te Waharoa — NZ Gazette 1997, No 165

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsAccounting Policies, Related Party Transactions, State-Owned Enterprises, Revenue, Operating Expenses, Capital Expenditure

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