New Zealand Gazette – 2002 – No. 173

Page 4364

✨ Financial Statements



TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS continued

FOR THE YEAR ENDED 30 JUNE 2002

3. OPERATING EXPENSES

LINES BUSINESS 2002 LINES BUSINESS 2001
$000 $000
Administration and general costs 62,305 51,227
Asset operation and maintenance costs 106,599 101,524
Charges in respect of assets:
Depreciation - Buildings 1,432 1,885
Depreciation - Substations 38,730 39,784
Depreciation - HVDC Link 10,140 11,193
Depreciation - HVDC leased assets 12,796 13,391
Depreciation - Communication assets 9,498 10,050
Depreciation - Administration assets 11,023 9,248
Infrastructure asset service potential adjustment 12,689 16,039
Stock and asset write-offs 7,500 7,125
Charges in respect of receivables:
Bad debts written off 32 16
Movement in the provision for doubtful debts - -
Provision for industry related costs 15,000 -
Direction fees 351 266
Study grants and Donations 823 349
Lease and rental costs 2,546 2,386
Total operating expenses 291,446 264,293

Net loss on the disposal of assets included in stock and asset write-off:

2002 2001
7,350 5,528

Electricity regulations additional disclosures:

Employee salaries and redundancies:

2002 2001
27,602 22,622
Human resource expenses 2,794 2,502
Marketing / advertising expenses 494 653
Legal and consultancy expenses (including industry reform) 13,373 10,603
Corporate and administration expenses 11,103 7,172
Other 6,939 7,675
Total administration and general expenditure 62,305 51,227

Transfer payments from “Other Transpower Businesses”

2002 2001
Payment for metering data 870 900
Payment for insurance 5,205 2,925
Total transfer payments from “Other Transpower Businesses” 6,075 3,825

| Local authority rates expense | 1,244 | 1,096 |
| Consumer billing and information system expense | 767 | 458 |

| Depreciation of system assets | 71,735 | 74,210 |
| Depreciation of other assets | 11,884 | 11,261 |
| Total depreciation | 83,619 | 85,471 |

| Bad debts written off | 32 | 16 |
| Movement in the provision for doubtful debts | - | - |
| Total cost of offering credit | 12 | 16 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 173


Gazette.govt.nz — PDF NZ Gazette 2002, No 173




✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Notes to Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Operating Expenses, Depreciation, Financial Disclosures, Electricity Regulations