New Zealand Gazette – 2003 – No. 106

Page 2806

✨ Financial Performance Measures



2806

NEW ZEALAND GAZETTE

No. 106

SCHEDULE 1 - PART I
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 2,657,369
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) 2,657,369 a 2,651,972 2,651,972
Interest on cash, bank balances, and short-term investments (IST) -5,413
Net surplus after tax from financial statements 2,651,972
Net surplus after tax adjusted pursuant to regulation 18 (NSAT) 343,236 n
Amortisation of goodwill and amortisation of other intangibles p add add add
Subvention payment s add add add
Depreciation of SFA at BV (x) 2,918,427
Depreciation of SFA at ODV (y) 2,918,427
ODV depreciation adjustment 0 q add add deduct
Subvention payment tax adjustment 0 c
Interest tax shield 0 r add
Revaluations 0 deduct
Income tax 1,373,171 z 1,373,171
Numerator OSBITADJ = a + g + s - d NSATADJ = n + q + s - s1 - d OSBITADJ = a + g - q + r + s + d - p - s1
Fixed assets at end of previous financial year (FA0) 85,939,341
Fixed assets at end of current financial year (FA1) 94,403,138
Adjusted net working capital at end of previous financial year (ANWC0)
Adjusted net working capital at end of current financial year (ANWC1)
Average total funds employed (ATFE) 30,174,240 c 90,174,240 90,174,240
Total equity at end of previous financial year (TE0) 67,834,327
Total equity at end of current financial year (TE1) 68,190,563 k 68,012,445
Average total equity 58,012,445 (or regulation 33 time-weighted average)
WUC at end of previous financial year (WUC0) 695,633
WUC at end of current financial year (WUC1) 1,801,363
Average total works under construction 1,248,498 (or regulation 33 time-weighted average) e deduct 1,248,498 deduct
Revaluations 0 r/2
Half of revaluations 0
Intangible assets at end of previous financial year (IA0) 0
Intangible assets at end of current financial year (IA1) 0 m add 0
Average total intangible asset 0 (or regulation 33 time-weighted average)
Subvention payment at end of previous financial year (S0) 0
Subvention payment tax adjustment at end of previous financial year 0
Subvention payment tax adjustment at end of current financial year 0 v add 0
Average subvention payment & related tax adjustment 0
System fixed assets at end of previous financial year at book value (SFAbook0) 81,842,328
System fixed assets at end of current financial year at book value (SFAbook1) 89,932,720
Average value of system fixed assets at book value 85,387,527 (or regulation 33 time-weighted average) f deduct 85,387,527 deduct
System fixed assets at year beginning at ODV value (SFAODV0) 82,707,198
System fixed assets at end of current financial year at ODV value (SFAODV1) 90,903,564
Average value of system fixed assets at ODV value 87,155,380 (or regulation 33 time-weighted average) H add 87,155,380 add
Denominator ATFEADJ = c - e - f + h 68,531,800. Ave TEADJ = k - e - m - r/2 + v + f + h 87,155,380. ATFEADJ = c - e - f + h
Financial Performance Measure: 2.95 ROF = OSBITADJ/ATFEADJ x 100 0.5 ROE = NSATADJ/ATEADJ x 100 1.4 ROI = OSBITADJ/ATFEADJ x 100

*1 maximum statutory income tax rate applying to corporate entities
bv = book value
ave = average
odv = optimised deprival valuation
subscript ‘0’ = end of the previous financial year
subscript ‘1’ = end of the current financial year
ROF = return on funds
ROE = return on equity
ROI = return on investment



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 106


Gazette.govt.nz — PDF NZ Gazette 2003, No 106




✨ LLM interpretation of page content

💰 Annual ODV Valuation Reconciliation (continued from previous page)

💰 Finance & Revenue
Valuation, Fixed assets, Financial year, Depreciation, Revaluation