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New Zealand Gazette – 1998 – No. 193

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✨ Financial Statements

30 NOVEMBER NEW ZEALAND GAZETTE 4539

TRANSPOWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1998

4. OPERATING EXPENSES

	1998	1997
	$000	$000
Administration and general costs	50,791	56,741
Asset operation and maintenance costs	96,252	97,190
Security product costs	24,241	24,726
Charges in respect of assets:
Depreciation – leased assets	9,133	9,439
Depreciation – owned assets	108,623	96,764
Infrastructure asset service potential adjustment	22,443	24,205
Stock and asset write offs	20,521	11,257
Charges in respect of receivables:
Bad debts written off	7	-
Movement in the provision for doubtful debts	(1,500)	806
Directors' fees	221	239
Donations	316	285
Lease and rental costs	2,219	2,274
Restructuring Costs (TP2000)	15,507	-
Total Operating Expenses	348,774	323,926

Related Party Transactions

Expenses charged by:

	1998	1997
	$000	$000
ECNZ Group	18,923	22,981
BCL	284	227
Works Consultancy Services	-	1,744
Contact Energy	6,061	4,899
Transpower Group subsidiaries	-	-
	25,268	29,851

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 provided engineering consultancy services.

Net loss on the disposal of fixed assets

Included in stock and asset write offs:

	1998	1997
Net loss on the disposal of fixed assets	18,105	8,008

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VUW Te Waharoa — NZ Gazette 1998, No 193

NZLII — NZ Gazette 1998, No 193

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Notes to the Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsOperating Expenses, Depreciation, Bad Debts, Directors' Fees, Restructuring Costs, Related Party Transactions, ECNZ Group, BCL, Contact Energy, Asset Disposal

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