New Zealand Gazette – 2002 – No. 108

Page 2920

✨ Financial Performance Measures

NEW ZEALAND GAZETTE

No. 108

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	993,584
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT)	993,584
Interest on cash, bank balances, and short-term investments (IST)	-34,093
OSBIT minus IST	859,491	a	959,491		959,491
Net surplus after tax from financial statements	-272,516
Net surplus after tax adjusted pursuant to regulation 18 (NSAT)	502,471	n		502,471
Amortisation of goodwill and amortisation of other intangibles	0	i	add	add	add
Subvention payment	0	s	add	add	add
Depreciation of SFA at BV (x)	2,829,557
Depreciation of SFA at ODV (y)	2,829,557	d	add	add	add
ODV depreciation adjustment	0	z	add	add	nil
Subvention payment tax adjustment	0	s1		deduct
Interest tax shield	0	q			deduct
Revaluations	626,724	r		add	626,724
Income tax	1,022,471	p		deduct	1,022,471
Numerator	OSBIT^(ADJ) = a + i + s =	959,491	NSAT^(ADJ) = n + i + s + r - p =	502,471	OSBIT^(ADJ) = a + i + s - q = 959,491

| Fixed assets at end of previous financial year (FA_n) | 73,322,228 | | | | |
| Fixed assets at end of current financial year (FA_n+1) | 85,939,340 | | | | |
| Adjusted net working capital at end of previous financial year (ANWC_n) | | | | | |
| Adjusted net working capital at end of current financial year (ANWC_n+1) | | | | | |
| Average total funds employed (ATFE) | 79,630,783 | o | 79,630,783 | | |
| Total equity at end of previous financial year (TE_n) | 67,508,516 | | | | |
| Total equity at end of current financial year (TE_n+1) | 67,834,327 | | | | |
| Average total equity | 67,671,473 | k (or regulation 33 time-weighted averages) | | 67,671,473 | |

| WUC at end of previous financial year (WUC_n) | 3,381,307 | | | | |
| WUC at end of current financial year (WUC_n+1) | 655,633 | | | | |
| Average total works under construction | 2,039,970 (or regulation 33 time-weighted average) | u | deduct | 2,029,970 | deduct | 2,029,970 |
| Revaluations | 626,724 | r | | | |
| Half of revaluations | 313,362 | r/2 | | | |
| Intangible assets at end of previous financial year (IA_n) | | | | | |
| Intangible assets at end of current financial year (IA_n+1) | | | | | |
| Average total intangible asset | (or regulation 33 time-weighted average) | m | add | | add |
| Subvention payment at end of previous financial year (S_n) | | | | | |
| Subvention payment at end of current financial year (S_n+1) | | | | | |
| Subvention payment tax adjustment at end of previous financial year | | | | | |
| Subvention payment tax adjustment at end of current financial year | | | | | |
| Average subvention payment & related tax adjustment | | v | add | | add |
| System fixed assets at end of previous financial year at book value (SFA_bv_n) | 66,798,447 | | | | |
| System fixed assets at end of current financial year at book value (SFA_bv_n+1) | 81,842,338 | | | | |
| Average value of system fixed assets at book value | 74,320,393 (or regulation 33 time-weighted average) | f | deduct | 74,320,393 | deduct | 74,320,393 |
| System fixed assets at year beginning at ODV value (SFA_ODV_n) | 68,798,447 | | | | |
| System fixed assets at end of current financial year at ODV value (SFA_ODV_n+1) | 81,842,328 | | | | |
| Average value of system fixed assets at ODV value | 74,320,393 (or regulation 33 time-weighted average) | h | add | 74,320,393 | add | 74,320,393 |

Financial Performance Measure:

1 = maximum statutory income tax rate applying to corporate entities bv = book value ave = average
ROF = return on funds ROI = return on investment
ODV = optimised deprival valuation subscript '0' = end of the previous financial year