✨ Financial Performance Measures
29 AUGUST
NEW ZEALAND GAZETTE
SCHEDULE 1 - PART 7
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS
| Derivation Table March 2003 | Input and Calculations | System in Formulae | ROF | ROE | ROI |
|---|---|---|---|---|---|
| Operating surplus before interest and income tax from financial statements | **** | **** | - | - | - |
| Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) | 55,847 | a | - | - | - |
| Interest on cash, bank balances, and short-term investments (STI) | 264 | b | - | - | - |
| OSBIT minus STI | 5,438 | OSBIT(a) - b | - | 5,438 | 5,438 |
| Net surplus after tax from financial statements | 44,340 | c | - | - | - |
| Net surplus after tax adjusted pursuant to regulation 18 (NSAT) | 44,301 | n | - | - | - |
| Amortisation of goodwill and amortisation of other intangibles | 0 | add | add | 0 | add |
| Subvention payment | 0 | add | 0 | add | 0 |
| Depreciation of SPA at BOY (x) | 3,166 | - | - | - | - |
| Depreciation of SPA at EOY (y) | 3,480 | d | add | - | add |
| ODV depreciation adjustment | 0 | e | - | - | - |
| Subvention payment tax adjustment | 0 | s(t) | deduct | 0 | deduct |
| Interest tax shield | 96 | q | - | - | - |
| Revaluations | -4,578 | f | - | add | -4,578 |
| Income tax | 1,532 | p | - | deduct | 1,331 |
| Numerator: | - | - | OSBIT(a-b+g+s+e) | NSAT(n+g+s-e+f)+q | OSBIT(a-b+g+s+e+d) |
| Fixed assets at end of previous financial year (FA) | 49,601 | g | - | - | - |
| Fixed assets at end of current financial year (FA) | 50,004 | - | - | - | - |
| Adjusted net working capital at end of previous financial year (ANWCp) | 6,079 | j | - | - | - |
| Adjusted net working capital at end of current financial year (ANWCy) | 13,577 | k | - | - | - |
| Average total funds employed (ATFE) | 50,571 | (g + j + h)/2 | 50,571 | - | 50,571 |
| Total equity at end of previous financial year (TEp) | 35,644 | m | - | - | - |
| Total equity at end of current financial year (TEy) | 95,429 | r | - | - | - |
| Average total equity | (m + r)/2 or regulation 33 time-weighted average | - | 65,536 | - | |
| WUC at end of previous financial year (WUCp) | - | l | - | - | - |
| WUC at end of current financial year (WUCy) | - | t | - | - | - |
| Average total works under construction | 0 | (l + t)/2 or regulation 33 time-weighted average | - | - | deduct |
| Revaluations | 4,578 | r | - | - | - |
| Half of Revaluations | -2,289 | r/2 | - | deduct | -2,289 |
| Intangible assets at end of previous financial year (IA) | 0 | v | - | - | - |
| Intangible assets at end of current financial year (IA) | 0 | w | - | add | 0 |
| Average total intangible assets | (v + w)/2 or regulation 33 time-weighted average | - | - | - | |
| Subvention payment at end of previous financial year (Sp) | 0 | x | - | - | - |
| Subvention payment at end of current financial year (Sy) | 0 | y | - | - | - |
| Subvention payment tax adjustment at end of previous financial year | 0 | za | - | - | - |
| Subvention payment tax adjustment at end of current financial year | 0 | zb | - | - | - |
| Average subvention payment tax adjustment | 0 | (za + zb)/2 | add | 0 | add |
| System fixed assets at end of previous financial year at book value (SFAp) | 49,601 | - | - | - | - |
| System fixed assets at end of current financial year at book value (SFAy) | 50,004 | - | - | - | - |
| Average value of system fixed assets at book value | 35,593 | (SFAp + SFAy)/2 or regulation 33 time-weighted average | 50,332 | deduct | 50,332 |
| System Fixed assets at year beginning at ODV value (SFAoweb) | 59,134 | - | - | - | - |
| System Fixed assets at end of current financial year at ODV value (SFAoye) | 78,901 | - | - | - | - |
| Average value of system fixed assets at ODV value | 69,335 | (SFAoweb + SFAoye)/2 or regulation 33 time-weighted average | 69,335 | add | 69,335 |
| Denominator: | ATFE(a) | ATFE(r) | ATFE(a) + (p) - (k) + m - v + n | ||
| Financial Performance Measure: | ROF = (OSBIT(a-b)/ATFE) x 100 | ROE = (NSAT(g)/ATE) x 100 | ROI = (OSBIT(a-b+g+s)/ATFE) x 100 |
1 = maximum statutory income tax rate applying to corporate entities
by = book value
ava = average
ODV = optimised deprival valuation
subscript 'p' = at end of the previous financial year
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 120
Gazette.govt.nz —
NZ Gazette 2003, No 120
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