New Zealand Gazette – 2003 – No. 162

Page 4531

✨ Financial Performance Measures

28 NOVEMBER

NEW ZEALAND GAZETTE

4531

SCHEDULE ( - PART 7
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS

Derivation Table	Input and Calculations	Formula	ROF	ROS	ROI
Operating surplus before interest and income tax from Financial Statements	146,731
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT)	146,731
Interest on cash, bank balances, and short-term investments (ISTI)	4,120
OSBIT minus ISTI	142,611	a	142,611		142,611
Net surplus after tax from financial statements	51,657
Net surplus after tax adjusted pursuant to regulation 18 (NSAT)	51,657	n	add	51,657
Amortisation of goodwill and amortisation of other intangibles	0	g	add	0	add
Subvention payment	0	s	add	0	add
Depreciation of SFA at BV (x)	65,847
Depreciation of SFA at ODV (y)	65,847
ODV depreciation adjustment	0	d	add	0	add
Subvention payment tax adjustment	0	e			deduct
Interest tax shield	27,025	y		deduct	27,025
Revaluations	-33,208	r
Income tax	16,560	p			16,560
Numerator		(OSBIT^(TO)) = a + g + s - d	142,611		51,657
		NSAT^(TO) = n - a + g - s + d
Fixed assets at end of previous financial year (FAo)	2,178,845
Fixed assets at end of current financial year (FA1)	2,126,626
Adjusted net working capital at end of previous financial year	15,703
Adjusted net working capital at end of current financial year (ANWC1)	-39,574
Average total funds employed (ATFE)	2,101,597	c	2,101,597		2,101,597
Total equity at end of previous financial year (TEo)	1,772,778
Total equity at end of current financial year (TE1)	963,461
Average total equity	968,120	k		968,120
WUC at end of previous financial year (WUCo)	99,245
WUC at end of current financial year (WUC1)	93,174
Average total works under construction	96,270	e	deduct	96,270	96,270
Revaluations	-33,208	r1
Half of revaluations	-16,604	r2			deduct
Intangible assets at end of previous financial year (IAo)	0
Intangible assets at end of current financial year (IA1)	0
Average total intangible asset	0	m		add	0
Subvention payments at end of previous financial year (So)	0
Subvention payment at end of current financial year (S1)	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
System fixed assets at end of previous financial year at book value	1,995,000
System fixed assets at end of current financial year at book value	1,956,000
Average value of system fixed assets at book value	1,980,500	f	deduct	1,980,500	1,980,500
System fixed assets at start at ODV value (SFAo)	1,995,000
System fixed assets at end of current financial year at ODV value	1,956,000
Average value of system fixed assets at ODV value	1,980,500	h	add	1,980,500	1,980,500
Denominator		ATFE^(TO) = c + e + f + h	2,002,327		2,018,931
		Ave TE^(TO) = k + e + m + v - r			968,850

Financial Performance Measure:

| | ROF = OSBIT^(TO) / ATFE^(TO) x 100 | 7.1 |
| | ROS = NSAT^(TO) / ATFE^(TO) x 100 | 5.0 |
| | ROI = OSBIT^(ODV) / ATFE^(ODV) x 100 | 3.3 |

( = maximum statutory income tax rate applying to corporate entities; bv = book value; ave = average; odv = optimised deprival valuation; subscript '0' = end of 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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