✨ Financial Performance Measures
3088
NEW ZEALAND GAZETTE
No. 122
L. SCHEDULE 1 – PART 7
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS
| Derivation Table | Input and Calculations | Symbol in Formula | ROF | ROE | ROI |
|---|---|---|---|---|---|
| Operating surplus before interest and income tax from financial statements | 14,172 | ||||
| Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) | 14,172 | a | 14,172 | 14,172 | |
| Interest on cash, bank balances, and short-term investments (ISTI) | 0 | ||||
| OSBIT minus ISTI | 14,172 | ||||
| Net surplus after tax from financial statements | 2,599 | n | add | 2,599 | add |
| Amortisation of goodwill and amortisation of other intangibles | 0 | g | add | 0 | add |
| Subvention payment | 2,000 | s | 2,000 | add | |
| Depreciation of SFA at BV (x) | 2,943 | ||||
| ODV depreciation adjustment | 3,317 | d | add | 3,317 | add |
| Subvention payment tax adjustment | 660 | s*t | deduct | ||
| Interest tax shield | 2,636 | q | deduct | ||
| Revaluations | 3,024 | r | add | ||
| Income tax | 3,584 | p | deduct | ||
| Numerator | OSBIT^ADJ = a + g + s + d | NSAT^ADJ = n - g + s - s*t + d | OSBIT^ADJ - a + g - q + r + s - p - s*t | ||
| 19,489 | 7,356 | 15,633 | |||
| Fixed assets at end of previous financial year (FA₀) Note (i) | 191,158 | ||||
| Fixed assets at end of current financial year (FA₁) | 198,653 | ||||
| Adjusted net working capital at end of previous financial year (ANWC₀) | 4,369 | ||||
| Adjusted net working capital at end of current financial year (ANWC₁) | -3,841 | ||||
| Average total funds employed (ATFE) | 195,170 | c | 195,170 | 195,170 | |
| (or regulation 33 time-weighted average) | |||||
| Total equity at end of previous financial year (TE₀) | 71,470 | ||||
| Total equity at end of current financial year (TE₁) | 70,574 | ||||
| Average total equity | 71,022 | k | 71,022 | ||
| (or regulation 33 time-weighted average) | |||||
| WUC at end of previous financial year (WUC₀) | 90 | ||||
| WUC at end of current financial year (WUC₁) | 1,768 | ||||
| Average total works under construction | 929 | e | 929 | deduct | |
| (or regulation 33 time-weighted average) | |||||
| Revaluations | 3,024 | r | deduct | ||
| Half of revaluations | 1,512 | r/2 | |||
| Intangible assets at end of previous financial year (IA₀) | 0 | ||||
| Intangible assets at end of current financial year (IA₁) | 0 | m | add | ||
| Average total intangible asset | 0 | ||||
| (or regulation 33 time-weighted average) | |||||
| Subvention payment at end of previous financial year (S₀) | 0 | ||||
| Subvention payment at end of current financial year (S₁) | 2,000 | ||||
| Subvention payment tax adjustment at end of previous financial year | 0 | ||||
| Subvention payment tax adjustment at end of current financial year | 660 | v | add | ||
| Average subvention payment and related tax adjustment | 670 | ||||
| System fixed assets at end of previous financial year at book value (SFA₀,ₕ) Note (i) | 191,068 | ||||
| System fixed assets at end of current financial year at book value (SFA₁,ₕ) | 193,975 | f | 193,975 | deduct | |
| (or regulation 33 time-weighted average) | |||||
| Average value of system fixed assets at book value | 192,521 | ||||
| System fixed assets at year beginning at ODV value (SFA₀,ₕ) | 145,104 | ||||
| System fixed assets at end of current financial year at ODV value (SFA₁,ₕ) | 149,867 | ||||
| Average value of system fixed assets at ODV value | 147,486 | h | 147,486 | add | |
| (or regulation 33 time-weighted average) | |||||
| Denominator | 147,752 | 24,274 | 146,249 | ||
| ATFE^ADJ = c - e - f + h | Ave TE^ADJ = k - e - m + v - f + h | ATFE^ADJ = c - e - ½r - f + h | |||
| Financial Performance Measure. | ROF = OSBIT^ADJ/ATFE^ADJ x 100 | ROE = NSAT^ADJ/ATE^ADJ x 100 | ROI = OSBIT^ADJ/ATFE^ADJ x 100 | ||
| 13.2 | 25.9 | 10.7 |
Note - Adjusted Opening Balance:
(i) Fixed assets as per last year’s accounts 75,303
Plus assets acquired from Central Electric Ltd 1 April 1999 115,855
Fixed assets at end of previous financial year (FA₀) 191,158
(ii) System fixed assets as per last year’s accounts 75,213
Plus assets acquired from Central Electric Ltd 1 April 1999 115,855
System fixed assets at end of previous financial year at book value (SFA₀,ₕ) 191,068
t = maximum statutory income tax rate applying to corporate entities
ROF = return on funds
ROE = return on equity
ROI = return on investment
subscript ‘0’ = end of the previous financial year
subscript ‘1’ = end of the current financial year
bv = book value
ave = average
odv = optimised deprival valuation
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 122
Gazette.govt.nz —
NZ Gazette 2000, No 122
✨ LLM interpretation of page content
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Certification of Financial Statements, Performance Measures and Statistics Disclosed by Dunedin Electricity
(continued from previous page)
💰 Finance & Revenue30 August 2000
Financial Statements, Performance Measures, Electricity, Dunedin, Regulation 32, SAIDI, SAIFI, CAIDI