✨ Financial Performance Measures
4386
NEW ZEALAND GAZETTE
No. 173
SCHEDULE 1 - PART 7
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS
| Derivation Table | Input and Calculations | Symbol in formulas | ROF | ROE | RDI |
|---|---|---|---|---|---|
| Operating surplus before interest and income tax from financial statements | 178,827 | ||||
| Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) | 178,827 | ||||
| Interest on cash, bank balances, and short-term investments (SSTI) | 6,045 | s | |||
| OSBIT minus SSTI | 172,772 | a | 172,772 | 172,772 | |
| Net surplus after tax from financial statements | 73,141 | ||||
| Net surplus after tax adjusted pursuant to regulation 18 (NSAT) | 73,141 | a | 73,141 | ||
| Amortisation of goodwill and amortisation of other intangibles | 0 | g | add | add | add |
| Subvention payment | 0 | s | add | add | add |
| Depreciation of SFA at BV (k) | 71,335 | ||||
| Depreciation of SFA at ODV cy1 | 71,735 | k | |||
| ODI depreciation adjustment | 0 | d | add | add | add |
| Subvention payment tax adjustment | 0 | s* | deduct | ||
| Interest tax shield | 28,037 | q | 28,037 | ||
| Revaluations | 64,288 | r | |||
| Income tax | 24,150 | p | 24,150 | ||
| Numerator | OSBIT^ADJ = a + g + s + d | 172,772 | NSAT^ADJ = a + g + s + r - d | 73,141 |
| Funds assets at end of previous financial year (FA0) | 2,899,099 | | | | |
| Funds assets at end of current financial year (FA1) | 2,113,845 | | | | |
| Adjusted net working capital at end of previous financial year (ANWC0) | 17,013 | | | | |
| Adjusted net working capital at end of current financial year (ANWC1) | | | | | |
| Average total funds employed (ATFE) | 2,113,127 | e (for regulation 33 time-weighted average) | | | |
| Total equity at end of previous financial year (TE0) | 911,474 | | | | |
| Total equity at end of current financial year (TE1) | 972,775 | | | | |
| Average total equity | 942,224 | x (for regulation 13 time-weighted average) | | 942,224 | |
| WUC at end of previous financial year (WUC0) | 78,346 | | | | |
| WUC at end of current financial year (WUC1) | 99,380 | | | | |
| Average total works under construction | 88,862 | z (for regulation 33 time-weighted average) | deduct | | 88,862 |
| Revaluations | 64,288 | r | | | |
| Half of revaluations | 32,144 | r/2 | | | 32,144 |
| Intangible assets at end of previous financial year (IA0) | 0 | | | | |
| Intangible assets at end of current financial year (IA1) | 0 | | | | |
| Average total intangible asset | 0 | m (for regulation 13 time-weighted average) | | add | |
| Subvention payment at end of previous financial year (S0) | 0 | | | | |
| Subvention payment at end of current financial year (S1) | 0 | | | | |
| Subvention payment at end of previous financial year (tax adjusted) | 0 | | | | |
| Subvention payment tax adjustment at end of current financial year | 0 | | | | |
| Average subvention payment & related tax adjustment | 0 | v | add | | |
| System fixed assets at end of previous financial year at book value (SFA0) | 1,979,000 | | | | |
| System fixed assets at end of current financial year at book value (SFA1) | 1,995,000 | | | | |
| Average value of system fixed assets at book value | 1,987,000 | f (for regulation 33 time-weighted average) | deduct | 1,987,000 | deduct |
| System Fixed assets at year beginning at ODV value (SFAodv0) | 1,979,000 | | | | |
| System Fixed assets at end of current financial year at ODV value (SFAodv1) | 1,893,000 | | | | |
| Average value of system fixed assets at ODV value | 1,937,000 | h (for regulation 33 time-weighted average) | add | 1,937,000 | add |
| Denominator | | ATFE^ND = e - z + f + h | 5,024,304 | Ave TE^ND = x - e - z + f + h | 853,367 | ATFE^RD = e - e^1/2r - z + f + h | 1,992,161 |
| Financial Performance Measure: | | ROF = OSBIT^ADJ/ATFE^ND × 100 | 8.5 | ROE = NSAT^ADJ/Ave TE^ND × 100 | 8.6 | RDI = OSBIT^ADJ/ATFE^RD × 100 | 9.3 |
1 = not pensionable income tax rate applying to corporate entities
s = book value
ave = average
ODV = optimised deprival valuation
subscript '0' = end of the previous financial year
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 173
Gazette.govt.nz —
NZ Gazette 2002, No 173
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