New Zealand Gazette – 2002 – No. 106

Page 2877

✨ Financial Performance Measures

19 AUGUST

NEW ZEALAND GAZETTE

2877

Network Waitaki Limited (Lines)
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS

Derivation Table	Input and Calculations	Symbol	ROF	ROE	ROI
Operating surplus before interest and income tax from financial statements	1,168,486
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT)	1,168,486
Interest on cash, bank balances, and short-term investments (ISTI)	355,442	a
OSBITᵁᴰᴶ	813,044	r	813,044		813,044
Net surplus after tax from financial statements	398,926
Net surplus after tax adjusted pursuant to regulation 18 (NSAT)	398,926	n		398,926
Amortisation of goodwill and amortisation of other intangibles	0	g	0 add	0 add	0
Subvention payment	0	s	0 add	0 add	0
Depreciation of SFA at BV (x)	1,394,886
Depreciation of SFA at ODV (y)	1,394,886	d
ODV depreciation adjustment	0	d	0 add	0 add	0
Subvention payment tax adjustment	0	s'		deduct	0
Interest tax shield	0	q			0
Revaluations	1,560,000	r		add	1,560,000
Income tax	769,560	p		deduct	769,560

Numerator			813,044	398,926	1,603,484
			OSBITᵁᴰᴶ = a + g + s + d	NSATᵁᴰᴶ = n + g + s - s' + d	OSBITᵁᴰᴶ + a - g - q + r + s + d - p - s't

Fixed assets at end of previous financial year (FA₀)	40,076,201
Fixed assets at end of current financial year (FA₁)	38,625,059
Adjusted net working capital at end of previous financial year (ANWC₀)	323,211
Adjusted net working capital at end of current financial year (ANWC₁)	445,389
Average total funds employed (ATFE)	39,234,925	c	39,234,925		39,234,925
Total equity at end of previous financial year (TE₀)	43,739,990
Total equity at end of current financial year (TE₁)	42,533,916
Average equity	43,136,953	k		43,136,953
WUC at end of previous financial year (WUC₀)	282,648
WUC at end of current financial year (WUC₁)	98,411
Average works under construction	190,530	e	deduct	190,530 deduct	190,530
Revaluations	1,560,000	r
Half of revaluations	780,000	r/2		deduct	780,000
Intangible assets at end of previous financial year (IA₀)	0
Intangible assets at end of current financial year (IA₁)	0
Average total intangible assets	0	m		add	0
Subvention payment at end of previous financial year (S₀)	0
Subvention payment at end of current financial year (S₁)	0
Subvention payment tax adjustment at end of previous financial year	0
Subvention payment tax adjustment at end of current financial year	0
Average subvention payment & related tax adjustment	0	v		add	0
System fixed assets at end of previous financial year at book value (SFAᵇᵙ₀)	39,793,289
System fixed assets at end of current financial year at book value (SFAᵇᵙ₁)	38,487,744
Average value of system fixed assets at book value	39,140,516	f	deduct	39,140,516 deduct	39,140,516
System Fixed assets at year beginning at ODV value (SFAᵒᵈᵙ₀)	39,768,266
System Fixed assets at end of current financial year at ODV value (SFAᵒᵈᵙ₁)	38,366,931
Average value of system fixed assets at ODV value	39,067,599	h	add	39,067,599 add	39,067,599

Denominator			38,971,988	42,874,016	38,191,948
			ATFEᵁᴰᴶ = c - e - f + h	Ave TEᵁᴰᴶ = k - e - m + v - r/2 + h	ATFEᵁᴰᴶᵁᴰᴶ = c - e - f + h

Financial Performance Measure:			2.09	0.93	4.20
			ROF = OSBITᵁᴰᴶ/ATFEᵁᴰᴶ x 100	ROE = NSATᵁᴰᴶ/AVE TEᵁᴰᴶ x 100	ROI = OSBITᵁᴰᴶᵁᴰᴶ/ATFEᵁᴰᴶᵁᴰᴶ x 100

t = maximum statutory income tax rate applying to corporate entities
bv = book value
ave = average
odv = optimised deprival valuation
subscript '1' = end of the current financial year
ROF = return on funds
ROE = return on equity
ROI = return on investment
subscript '0' = end of the previous financial year