New Zealand Gazette – 2003 – No. 99

Page 2627

✨ Financial Performance Measures



13 AUGUST

NEW ZEALAND GAZETTE

2627

F SCHEDULE 1 – PART 7

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 19,241
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) 19,241 19,241
Interest on cash, bank balances, and short term investments (IST) 0
OSBIT minus IST 19,241 a 19,241
Net surplus after tax from financial statements 4,758
Net surplus after tax adjusted pursuant to regulation 18 (NSAT) 4,758 n 4,758
Amortisation of goodwill and amortisation of other intangibles 0 g add 0, add 0
Subvention payment 1,191 s add 1,191 add, 1,191
Depreciation of SFA at BV (x) 8,842
Depreciation of SFA at ODV (y) 5,150
ODV depreciation adjustment 3,692 d add, 3,692 add, 3,692 add, 3,692
Subvention payment tax adjustment 393 spt deduct 393, deduct 393
Interest tax shield 2,559 i deduct 2,559
Revaluations 0 add 0
Income tax 6,999 p deduct, 6,999
Numerator OSBIT^(A1) = a + g + s + d
NSAT^(A2) = n + g + s - spt + d
OSBIT^(A3) = a + g + s + d - i - spt

| Fixed assets at end of previous financial year (FA_t) | 242,383 | | | | |
| Fixed assets at end of current financial year (FA_t+1) | 245,464 | | | | |
| Adjusted net working capital at end of previous financial year (ANWC_t) | 523 | | | | |
| Adjusted net working capital at end of current financial year (ANWC_t+1) | 1,050 | | | | |
| Average total funds employed (ATFE) | 244,720 | c, (regulation 33 time-weighted average) | 244,720 | | 244,720 |
| Total equity at end of previous financial year (TE_t) | 110,697 | | | | |
| Total equity at end of current financial year (TE_t+1) | 106,314 | | | | |
| Average total equity | 108,506 | k, (regulation 33 time-weighted average) | | 108,506 | |
| WUC at end of previous financial year (WUC_t) | 2,704 | | | | |
| WUC at end of current financial year (WUC_t+1) | 5,521 | | | | |
| Average total works under construction | 4,232 | r, (regulation 33 time-weighted average) | deduct, 4,232 | deduct, 4,232 | deduct, 4,232 |
| Revaluations | 0 | | | | |
| Half of revaluations | 0 | r/2 | | | |
| Intangible assets at end of previous financial year (IA_t) | 0 | | | | |
| Intangible assets at end of current financial year (IA_t+1) | 0 | | | | |
| Average total intangible assets | 0 | m, (regulation 33 time-weighted average) | add | 0 |
| Subvention payment at end of previous financial year (S_t) | 1,574 | | | | |
| Subvention payment at end of current financial year (S_t+1) | 1,191 | | | | |
| Subvention payment tax adjustment at end of previous financial year | 519 | | add | | |
| Subvention payment tax adjustment at end of current financial year | 393 | | | | add, 926 |
| Average subvention payment and related tax adjustment | 926 | v | add | 926 |
| System fixed assets at end of previous financial year at book value (SFA_tbv) | 239,481 | | | | |
| System fixed assets at end of current financial year at book value (SFA_t+1bv) | 239,963 | | 239,702 | deduct | 239,702 |
| System fixed assets at year beginning at ODV value (SFA_gbv) | 154,403 | f, (regulation 33 time-weighted average) | | 154,401 | |
| System fixed assets at end of current financial year at ODV value (SFA_g+1) | 154,399 | | add, 154,401 | add, 155,188 | |
| Denominator | |
| | ATFE^(A1) = c |
| | AvcTE^(A2) = k - c + f + h |
| | ATFE^(A3) = c - e - f + r + h |

Financial Performance Measure

ROF = OSBIT^(A1) / ATFE^(A1) x 100

ROE = NSAT^(A2) / AvcTE^(A2) x 100

ROI = OSBIT^(A3) / ATFE^(A3) x 100

  • t = maximum statutory income tax rate applying to corporate entities

  • 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

  • bv = book value

  • ave = average

  • odv = optimised deprival valuation



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 99


Gazette.govt.nz — PDF NZ Gazette 2003, No 99




✨ LLM interpretation of page content

💰 Performance Measures for Dunedin Electricity Limited (continued from previous page)

💰 Finance & Revenue
Financial Performance, Efficiency Measures, Energy Delivery, Statistics, Dunedin Electricity Limited