Financial Statements




4020 NEW ZEALAND GAZETTE No. 169

Financing activities include changes in equity and borrowings and their related servicing costs (dividends and interest).

Cash includes cash on hand, net cash at bank, call deposits and securities which may be converted to cash at the company’s option within no more than two working days.

(o) Changes in Accounting Policies

Other than the changes to the allocation methodologies which have been required as a consequence of the Electricity (Information Disclosure) Regulations 1999, there were no changes in Accounting Policies. All policies have been applied on a basis consistent with that used in previous years.

1999 $000 1998 $000
2. CONTINUING AND DISCONTINUED ACTIVITIES
Continuing Activities -
Operating revenue 15,583 15,751
Operating surplus/(deficit) 4,022 3,535

3. REVENUE

| Line Charges income | 14,901 | 14,914 |
| Other miscellaneous income | 682 | 837 |
| Total Revenue | 15,583 | 15,751 |

4. NET SURPLUS BEFORE TAXATION

Is stated after taking into account the following:

Income from:
| Line Charges invoiced to retailers | 6,164 | - |
| Line Charges invoiced to consumers | 8,737 | 14,914 |
| Interest received | 494 | 456 |
| Electricity hedges | - | 188 |
| Other Revenue | 188 | 381 |

Charges in respect of:
| Transfer payments: |
| Asset maintenance services | 2,072 | - |
| Avoided transmission charges | 0 | - |
| Disconnection/reconnection | 0 | - |
| Load control | 15 | - |
| Meter data | 6 | - |
| Other goods & services | 35 | - |
| Other payments: |
| Transmission charges | 3,442 | - |
| AC loss-rental rebates | (258) | - |
| Employee salaries & redundancies | 1,015 | - |
| Customer billing & information systems | 158 | - |

Depreciation on:
| - System fixed assets | 958 | - |
| - Capital works under construction | 0 | - |
| - Other | 243 | - |
| Total depreciation | 1,201 | 1,487 |

| Total corporate & administration expenses | 1,864 | - |
| Total human resources expense | 74 | - |
| Marketing/advertising | 50 | - |



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💰 Notes to Financial Statements of Eastland Network Limited (continued from previous page)

💰 Finance & Revenue
Financial Statements, Accounting Policies, Investments, Current Assets, Taxation, Leases, Research and Development, Foreign Currencies, Cash Flows, Eastland Network Limited, Gisborne