New Zealand Gazette – 2002 – No. 124

Page 3322

✨ Financial Statements

VECTOR Limited

Electricity Lines Business

Notes to the Financial Statements

For the year ended 31 March 2002

	2002	2001
	$000	$000

1. OPERATING REVENUE

Continuing activities

Revenue from line/access charges | 228,977 | 218,295
Interest on cash, bank balances and short-term investments | 396 | 303
Other income | 11,736 | 11,493
AC loss-rental rebates | 16,390 | 8,909
Gain on sale of fixed assets | 1,917 | -

Total operating revenue | 259,416 | 239,000

2. CONTINUING AND DISCONTINUED ACTIVITIES

Continuing activities

Revenue | 259,416 | 239,000
Operating surplus before income tax | 102,904 | 106,017

Discontinued activities

Revenue | - | -
Operating surplus before income tax | - |

Totals

Revenue | 259,416 | 239,000
Operating surplus before income tax | 102,904 | 106,017

3. OPERATING EXPENSES

Operating line expenses

Depreciation on:

System fixed assets | 23,940 | 19,181
Freehold buildings | 466 | 257
Motor vehicles | 36 | 49
Consumer billing and information system assets | 5,439 | 5,334
Other fixed assets | 227 | 200

Total depreciation | 30,108 | 25,021

Payment for transmission charges | 55,975 | 58,568
Avoided transmission charges on account of own generation | 2,980 | -
Employee salaries, wages and redundancies | 10,327 | 11,599
Consumer billing and information system expense | 1,551 | 1,686
Asset maintenance | 19,645 | 21,215

VUW Te Waharoa — NZ Gazette 2002, No 124

Gazette.govt.nz — NZ Gazette 2002, No 124

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

🏭 Vector Limited Statement of Accounting Policies (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Statements, Revenue, Expenses, Vector Limited

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