New Zealand Gazette – 2003 – No. 28

Page 808

✨ Financial Performance Measures



F SCHEDULE 1 – PART 7

FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS

Derivation Table Input and Calculations Symbol and Formula ROF ROE ROI
Operating surplus before interest and income tax from financial statements 18,649
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) 18,649
Interest on cash, bank balances, and short-term investments (IST) 0
OSBIT minus IST 18,649 + 18,649
Net surplus after tax from financial statements 4,788
Net surplus after tax adjusted pursuant to regulation 18 (NSAT) 4,788 n add 4,788 0
Amortisation of goodwill and amortisation of other intangibles 0 g 0 add
Subvention payment 1,574 s add 1,574 add
Depreciation of SFA at BV (s) 8,016
Depreciation of SFA at ODV (y) 5,194
ODV depreciation adjustment 2,822 d add 2,822 add
Subvention payment tax adjustment 519 s*t1 deduct 519
Interest (tax shield) 2,493 q deduct
Revaluations 0 r
Income tax 6,305 p deduct
Numerator OSBIT^(ADJ) = a + g + s + d 23,045 NSAT^(ADJ) = n + g + y - s*t1 + d 6,655

| Fixed assets at end of previous financial year (Fa) | 198,809 | | | |
| Fixed assets at end of current financial year (Fa1) | 242,383 | | | |
| Adjusted net working capital at end of previous financial year (ANWC0) | -2,218 | | | |
| Adjusted net working capital at end of current financial year (ANWC1) | 533 | | | |
| Average total funds employed (ATFE) | 219,779 | c (or regulation 33 time-weighted average) | 219,779 | |
| Total equity at end of previous financial year (TE0) | 74,508 | | | |
| Total equity at end of current financial year (TE1) | 110,697 | | | |
| Average total equity | 92,603 | k (or regulation 33 time-weighted averages) | 92,603 | |
| WUC at end of previous financial year (WUC0) | 1,460 | | | |
| WUC at end of current financial year (WUC1) | 2,913 | | | |
| Average total works under construction | 2,202 | o (or regulation 33 time-weighted average) | deduct | 2,202 | deduct | 2,202 |
| Revaluations | 0 | c | | | |
| Half of revaluations | 0 | r/2 | | | |
| 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 (or regulation 33 time-weighted average) | | add | 0 |
| Subvention payment at end of previous financial year (Su0) | 2,055 | | | |
| Subvention payment at end of current financial year (Su1) | 1,574 | | | |
| Subvention payment tax adjustment at end of previous financial year | 678 | | | |
| Subvention payment tax adjustment at end of current financial year | 519 | | | |
| Average subvention payment and related tax adjustment | 1,216 | v | | add | 1,216 |
| System fixed assets at end of previous financial year at book value (SFA0) | 197,403 | | | |
| System fixed assets at end of current financial year at book value (SFA1) | 219,440 | | | |
| Average value of system fixed assets at book value | 218,422 | f (or regulation 33 time-weighted average) | deduct | 218,422 | deduct | 218,422 |
| System fixed assets at year beginning at ODV value (SFAodv0) | 153,360 | | | |
| System fixed assets at end of current financial year at ODV value (SFAodv1) | 154,493 | | | |
| Average value of system fixed assets at ODV value | 153,882 | h (or regulation 33 time-weighted average) | add | 153,882 | add | 153,882 |

| Denominator | | ATFE^(AD) = c - e - f + h | 153,037 | ATE^(AD) = k + v + b | 27,076 | ATFE^(ODV) = c - e - f + h | 153,037 |

Financial Performance Measure

1 = maximum statutory income tax rate applying to corporate entities

ROF = return on funds

ROE = return on equity

ROI = return on investment

  • subscript “0” = end of the previous financial year
  • subscript “1” = end of the current financial year
  • bv = book value
  • ave = average
  • odv = optimised deprival valuation
Formula ROF ROE ROI
ROF = OSBIT^(AD)/ATFE^(AD) x 100 15.1%
ROE = NSAT^(AD)/ATE^(AD) x 100 31.0%
ROI = OSBIT^(ODV)/ATFE^(ODV) x 100 9.0%

Amended Information - Refer Note 11



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VUW Te Waharoa — PDF NZ Gazette 2003, No 28


Gazette.govt.nz — PDF NZ Gazette 2003, No 28




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