✨ Financial Statements
10 DECEMBER
NEW ZEALAND GAZETTE
4515
TRANSPower NEW ZEALAND LINES BUSINESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 1999
- OPERATING EXPENSES
| LINES BUSINESS | GROUP |
|---|---|
| 1999 | 1998 |
| $000 | $000 |
Administration and general costs
45,742
66,298
Asset operation and maintenance costs
85,120
96,252
Security Product Costs
24,241
Charges in respect of assets:
Depreciation - leased assets
14,719
15,558
Depreciation - owned assets
76,878
102,198
Infrastructure asset service
potential adjustment
14,139
22,443
Stock and asset write-offs
8,648
20,521
Charges in respect of receivables:
Bad debts written off
39
7
Movement in the provision
for doubtful debts
(39)
(1,500)
Directors’ fees
247
221
Donations
154
316
Lease and rental costs
2,217
2,219
Total operating expenses
247,864
348,774
Related party transactions
Expenses charged by :
ECNZ
20,400
18,923
Mighty River Power Limited
2,383
Meridian Energy Limited
70
Genesis Power Limited
15
BCL
255
284
Contact Energy Limited
3,807
6,061
26,930
25,268
Expenses charged by ECNZ relate to certain contracts for the operation and
maintenance of components of the National Grid, systems costs and consultancy services.
Systems costs are also charged by Contact Energy Limited, Meridian Energy Limited and
Genesis Power Limited. Lease costs for communications sites are charged by BCL.
Net loss on the disposal of assets
included in stock and asset write-offs
Net loss on the disposal of assets
8,123
18,105
8,123
18,105
Electricity regulations additional
disclosures
Employee salaries and redundancies
19,616
Human resource expenses
2,377
Payment for metering data
900
Marketing / advertising expenses
158
Legal and consultancy expenses (including industry reform)
8,961
Corporate and administration expenses
4,322
Total expenses including gross financing costs amount to $346,087,000.
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VUW Te Waharoa —
NZ Gazette 1999, No 190
NZLII —
NZ Gazette 1999, No 190
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Transpower New Zealand Limited Information Disclosure
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