New Zealand Gazette – 2000 – No. 77

Page 1849

✨ Financial Statements and Notes

NEW ZEALAND GAZETTE

12 JULY

		1849

| (v) Subvention payments | - | - |
| (w) Unusual expenses | - | - |
| (x) Other expenditure not listed in (a) to (w) | - | - |

13. Total operating expenditure | 7,541,431 | 7,429,988 |
14. Operating surplus before interest and tax | 3,502,169 | 3,352,041 |

15. Interest expense

| (a) Interest expense on borrowings | 82 | 45,063 |
| (b) Financial charges related to finance leases | - | - |
| (c) Other interest expense | - | - |
| (d) Total interest expense | 82 | 45,063 |

16. Operating surplus before income tax | 3,502,087 | 3,306,978 |
17. Income tax | 1,176,205 | 1,091,303 |
18. Net surplus after tax | 2,325,882 | 2,215,675 |

NOTE 11. RECONCILIATION OF ODV VALUATION

	2000 $	1999 $

ODV Valuation at 1 April | 32,538,453 | 33,279,630 |
Additions for year | 1,793,793 | 921,092 |
Disposals for year | (288,297) | (296,833) |
Annual Depreciation | (1,325,359) | (1,365,436) |

ODV Valuation at 31 March | $ 32,718,590 | $ 32,538,453 |

NOTE 12. ELECTRICITY CONVEYED FOR RETAILERS

	2000 kWh	1999 kWh

Contact Energy | - | 229,791,719 |
TransAlta NZ | 11,395,852 | 11,888,484 |
Mighty River | 3,881,691 | 2,153,610 |
Genesis | 1,516,422 | - |
Meridian | - | - |
TrustPower | 4,878,544 | 1,374,560 |

Total | 21,672,509... | 245,208,373 |

Two retailers have yet to provide information necessary for the completion of Note 12, this will be returned when available.

NOTE 13. TRANSACTIONS WITH RELATED PARTIES

During the year the Company purchased construction and maintenance services from its joint venture company, PowerNet Limited, to an amount of $3,084,668. The amount owed to PowerNet Limited at year end is $455,867 (1999 - $107,216). No related party debts have been written off or forgiven during this, or last year.

VUW Te Waharoa — NZ Gazette 2000, No 77

Gazette.govt.nz — NZ Gazette 2000, No 77

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

💰 Notes to Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Revenue, Expenditure, Assets, Liabilities

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