✨ Financial Performance Measures
22 DECEMBER 2004
NEW ZEALAND GAZETTE, No. 173
4349
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 | |||||
| Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) | 5,284,939 | ||||
| Interest on cash, bank balances, and short-term investments (IST) | 0 | ||||
| OSBIT minus IST | 5,284,939 | a | 5,284,939 | 5,284,939 | |
| Net surplus after tax from financial statements | 1,840,489 | ||||
| Net surplus after tax adjusted pursuant to regulation 18 (NSA) | -1,840,489 | n | -1,840,489 | ||
| Appropriation of goodwill and amortisation of other intangibles | g | add | add | add | |
| Subvention payment | s | add | add | ||
| Depreciation of SFA at BV (x) | 3,210,177 | ||||
| Depreciation of SFA at ODV (y) | 3,282,000 | ||||
| ODV depreciation adjustment | -71,823 | d | add | 71,823 | add |
| Subvention payment tax adjustment | e¹ | deduct | 0 | deduct | |
| Interest on tax shield | 208,041 | i | add | 208,041 | |
| Revaluations | 20,478,000 | r | add | 20,473,000 | |
| Income tax | 6,459,000 | p | 6,459,000 |
Numerator
| | OSBIT²ⁿᵒ = a + q + s + d | | 5,219,116 | |
| | NSA²ⁿᵒ = n + g + s - sp¹ + d + sp¹²ⁿᵒ | | | -1,912,312 |
| | | | 19,019,075 | 19,019,075 |
| Fixed assets at end of previous financial year (FAₚ) | 76,754,773 | |
| Fixed assets at end of current financial year (FAₙ) | 104,671,243 | |
| Adjusted net working capital at end of previous financial year (ANWCₚ) | 572,353 |
| Adjusted net working capital at end of current financial year (ANWCₙ) | 204,009 |
| Average total funds employed (ATFE) | 92,101,189 | o | 92,101,189 | 92,101,189 |
| Total equity at end of previous financial year (TEₚ) | 73,877,216 | |
| Total equity at end of current financial year (TEₙ) | 91,764,451 | k | 82,815,834 |
| Average total equity | | | | |
| WUC at end of previous financial year (WUCₚ) | 183,779 | |
| WUC at end of current financial year (WUCₙ) | 132,879 | |
| Average total work under construction | 158,829 | a | | 158,829 | 158,829 |
| Revaluations | 20,473,000 | r | |
| Half of revaluations | 10,236,500 | r/2 | | 10,236,300 |
| Intangible assets at end of previous financial year (IAₚ) | | |
| Intangible assets at end of current financial year (IAₙ) | | | |
| Average total intangible asset | | m | add |
| Subvention payment at end of previous financial year (Sₚ) | 0 | |
| Subvention payment at end of current financial year (Sₙ) | 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 | |
| System fixed assets at end of previous financial year at book value (SFAbvₚ) | 77,546,307 |
| System fixed assets at end of current financial year at book value (SFAbvₙ) | 109,718,201 |
| Average value of system fixed assets at book value | 90,632,254 | f | 90,632,254 | 90,632,254 | 90,632,254 |
| System Fixed assets at beginning at ODV value (SFAodvₚ) | 76,065,000 |
| System Fixed assets at end of current financial year at ODV value (SFAodvₙ) | 96,896,000 |
| Average value of system fixed assets at ODV value | 86,380,000 | h | 86,380,000 | 86,380,000 | 86,380,000 |
Denominator
| | ATFE²ⁿᵒ = c + e + f + h | 87,690,106 |
| | Ave TE²ⁿᵒ = k + e + m + v - f + h | 78,404,751 |
| | ATFE²ⁿᵒ = c - v/r - f + h | 77,455,605 |
Financial Performance Measure:
| | ROF = OSBIT²ⁿᵒ / ATFE²ⁿᵒ x 100 | 5.91 |
| | ROE = NSA²ⁿᵒ / Ave TE²ⁿᵒ x 100 | 2.4 |
| | ROI = OSBIT²ⁿᵒ / ATFE²ⁿᵒ x 100 | 24.6 |
1 maximum statutory income tax rate applying to corporate entities
bv = book value
ave = average
odv = optimised deprival valuation
equity = return on equity
ROF = return on funds
ROE = return on equity
ROI = return on investment
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2004, No 173
Gazette.govt.nz —
NZ Gazette 2004, No 173
✨ LLM interpretation of page content
💰
Form for the Derivation of Financial Performance Measures from Financial Statements
(continued from previous page)
💰 Finance & RevenueFinancial Performance, Operating Surplus, Interest, Depreciation, Revaluations, Income Tax, Fixed Assets, Equity, Return on Funds, Return on Equity, Return on Investment