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New Zealand Gazette – 2003 – No. 74

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✨ Financial Performance Measures

27 JUNE

NEW ZEALAND GAZETTE

1939

SCHEDULE 1 - PART 7

FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS

Derivation Table	Input and Calculations	Symbol in Formulae	ROF	ROE	ROI
Operating surplus before interest and income tax from financial statements	993,584
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT)	993,584
Interest on cash, bank balances, and short-term investments (ISTI)	34,191
OSBIT minus ISTI	959,491	a	959,491
Net surplus after tax from financial statements	672,515
Net surplus after tax adjusted pursuant to regulation 18 (NSAT)	662,651	n		902,647
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 (x)	2,929,567
Depreciation of SFA at ODV (y)	2,929,567
ODV depreciation adjustment	0	d	add	add	add
Subvention payment tax adjustment	0	a¹	deduct	deduct
Interest tax shield	0	q	add
Revaluations	626,774	r	add
Income tax	1,022,471	p		1,022,471	deduct

Numerator

OSBIT^(ADJ) = a + g + s - d | | | 959,491 | | |
NSAT^(ADJ) = n + g + s - d | | | | 902,647 | |
OSBIT^(ADJ) = a + g + s - d - p + r¹ | | | | | 658,734 |

Fixed Assets

Fixed assets at end of previous financial year (FA₀) | 73,829,225 | |
Fixed assets at end of current financial year (FA₁) | 85,830,344 | |
Adjusted net working capital at end of previous financial year (ANWC₀) | 0 | |
Adjusted net working capital at end of current financial year (ANWC₁) | 0 | |
Average total funds employed (ATFE) | 79,630,783 | o |

Equity

Total equity at end of previous financial year (TE₀) | 87,506,018 | |
Total equity at end of current financial year (TE₁) | 87,331,327 | |
Average total equity (TE) | 87,418,773 | k | | 87,418,773 | |

Work Under Construction

WUC at end of previous financial year (WUC₀) | 3,364,407 | |
WUC at end of current financial year (WUC₁) | 895,842 | |
Average total work under construction | 2,029,974 | e | deduct | 2,029,974 | deduct |

Revaluations

Revaluations | 626,774 | |
Half of revaluations | 313,387 | 1/2 |

Intangible Assets

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 | add | | |

Subvention Payment

Subvention payments at end of previous financial year (S₀) | 0 | |
Subvention payments 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 | |
Average subvention payment & related tax adjustment | 0 | v | add | | |

System Fixed Assets

System fixed assets at end of previous financial year at book value (SFAbv₀) | 76,728,447 | |
System fixed assets at end of current financial year at book value (SFAbv₁) | 81,842,328 | |
Average value of system fixed assets at book value | 74,320,388 | f | | 74,320,388 | deduct |
System fixed assets at year beginning at ODV value (SFAodv₀) | 68,065,315 | |
System fixed assets at end of current financial year at ODV value (SFAodv₁) | 83,707,196 | |
Average value of system fixed assets at ODV value | 76,185,255 | h | add | 76,185,255 | |

Denominator

ATFE^(ADJ) = o + e + f + h | | | 79,630,783 | | |
Ave TE^(ADJ) = k + v - 1/4 | | | | 87,506,071 | |
ATFE^(ROI) = c + e + f + h - v | | | | | 79,152,318 |

Financial Performance Measure

Description	Formula
ROF = return on funds	OSBIT^(ADJ)/ATFE^(ADJ)
ROE = return on equity	NSAT^(ADJ)/Ave TE^(ADJ)
ROI = return on investment	OSBIT^(ADJ)/ATFE^(ROI)

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

VUW Te Waharoa — NZ Gazette 2003, No 74

Gazette.govt.nz — NZ Gazette 2003, No 74

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏗️ Financial Performance Measures and Efficiency Performance Measures (continued from previous page)

Domain🏗️ Infrastructure & Public Works
KeywordsFinancial performance, Return on funds, Return on equity, Return on investment, Electricity Ashburton Ltd

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