New Zealand Gazette – 1999 – No. 98

Page 2367

✨ Financial Notes

20 AUGUST
NEW ZEALAND GAZETTE
2367

NOTE 10. CONTINGENT LIABILITIES

At 31 March 1999 Electricity Invercargill Limited’s share of a PowerNet Limited contingent liability in respect of Use of System Agreements is

Electricity Invercargill Limited’s share of guarantees given to Contractors by PowerNet Limited for amounts ranging from $20,000 to $164,000

1999 1998
17,000 17,000
446,000 446,000
$ 463,000 $ 463,000

NOTE 11. CASH FLOW RECONCILIATION

Reconciliation with reported operating surplus

Net surplus after tax

Add/(Deduct) Non-Cash items
Depreciation
Net (profit)/loss on disposal of Fixed Assets

Add/(Deduct) movements in Working Capital
(Increase)/Decrease in Receivables
(Increase)/Decrease in Inventories
Increase/(Decrease) in Accounts Payable & Accruals

NET CASH INFLOW FROM OPERATING ACTIVITIES

1999
$
2,215,675
1,475,428
88,196
3,779,299
(1,036,604)
9,957
(646,386)
(1,673,033)
$ 2,106,266

NOTE 12. FINANCIAL INSTRUMENTS

Credit Risk: Financial instruments which potentially subject the Company to a credit risk consist principally of bank deposits and receivables. Bank deposits are placed with high credit quality financial institutions. Concentrations of credit risk with respect to Receivables relate to PowerNet Limited but are subject to normal terms of trade. Regular monitoring of receivables is undertaken.

Interest Rate Risk: The Company’s term liabilities are held by debenture with the Invercargill City Council under a pre-arranged instrument; interest rate risk is managed by funding over a range of maturities. Through agreement and renewable loans, interest expense is being minimised.

Foreign Exchange and Currency Risk: The company is not exposed to foreign exchange or currency risk.

Off-Balance Sheet Financial Instruments: The company does not have any off-balance sheet financial instruments.

Fair Values: The fair value of the on-balance sheet financial instruments are represented by the carrying values.

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VUW Te Waharoa — NZ Gazette 1999, No 98

NZLII — NZ Gazette 1999, No 98

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

💰 Contingent Liabilities

Domain💰 Finance & Revenue
KeywordsContingent Liabilities, Electricity Invercargill Limited, PowerNet Limited, Use of System Agreements, Contractor Guarantees

💰 Cash Flow Reconciliation

Domain💰 Finance & Revenue
KeywordsCash Flow, Operating Surplus, Depreciation, Fixed Assets, Working Capital, Receivables, Inventories, Accounts Payable, Accruals

💰 Financial Instruments

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Credit Risk, Interest Rate Risk, Foreign Exchange Risk, Currency Risk, Off-Balance Sheet Instruments, Fair Values

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