✨ Financial Performance Measures
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) | 4,455,515 | ||||
| Interest on cash, bank balances, and short-term investments (IST) | 0 | ||||
| OSBIT minus IST | 4,455,515 | a | 4,455,515 | 4,455,515 | 4,455,515 |
| Net surplus after tax from financial statements | 1,900,981 | ||||
| Net surplus after tax adjusted pursuant to regulation 18 (NSAT) | 1,900,981 | n | 1,900,981 | ||
| 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) | 4,009,459 | ||||
| Depreciation of SFA at OCV (y) | 4,008,498 | d | add | add | add |
| OCV depreciation adjustment | 0 | d* | deduct | deduct | |
| Surplus on sale and interest tax adjustment | 219,414 | s* | 219,414 | 219,414 | |
| Revaluations | 1,889,642 | r | |||
| Income tax | p | deduct | |||
| Numerator | OSBIT^(ADJ) = a + d + g + s - d* + r | 4,455,515 | |||
| NSAT^(ADJ) = n + g + s + r - d* | 1,900,981 | ||||
| OSBIT^(ADJ) = a + g + s + r - p | 2,346,459 |
Fixed Assets
| Fixed assets at end of previous financial year (FA_p) | 104,671,242 |
| Fixed assets at end of current financial year (FA_c) | 107,791,134 |
| Adjusted net working capital at end of previous financial year (ANWC_p) | 105,852,010 |
| Adjusted net working capital at end of current financial year (ANWC_c) | 204,009 |
| Average total funds employed (ATFE) | (or regulation 33 time-weighted average) 105,602,032 |
Total Equity
| Total equity at end of previous financial year (TE_p) | 91,754,451 |
| Total equity at end of current financial year (TE_c) | 88,155,432 |
| Average total equity | (or regulation 33 time-weighted average) 89,954,942 |
| WUC at end of previous financial year (WUC_p) | 133,879 |
| WUC at end of current financial year (WUC_c) | 816,228 |
| Average total works under construction | (for regulation 33 time-weighted average) 475,054 | a | deduct | 475,054 | deduct | 475,054 |
| Revaluations | |
| Half of revaluations at end of previous financial year | 0 | r/2 |
| Intangible assets at end of previous financial year (IA_p) | |
| Intangible assets at end of current financial year (IA_c) | |
| Average total intangible asset | (or regulation 33 time-weighted average) 0 | m | |
| Subvention payment at end of previous financial year (S_p) | |
| Subvention payments at end of current financial year (S_c) | |
| Subvention payment tax adjustment at end of previous financial year |
| Subvention payment tax adjustment at end of current financial year |
| Average subvention payment & related tax adjustment | 0 | v | |
| System fixed assets at end of previous financial year at book value (SFA_bvp) | 103,718,201 |
| System fixed assets at end of current financial year at book value (SFA_bvc) | 104,301,648 |
| Average value of system fixed assets at book value | (or regulation 33 time-weighted average) 104,009,925 | f | deduct | 104,009,925 | |
| System Fixed assets at year beginning at ODV value (SFA_odvp) | 96,895,000 |
| System Fixed assets at end of current financial year at ODV value (SFA_odvc) | 98,120,000 |
| Average value of system fixed assets at ODV value | (for regulation 33 time-weighted average) 97,407,500 | h | add | 97,407,500 | add | 97,407,500 |
Denominator
| ATFE^(ADJ) = c - e - l + h | |
|---|---|
| 98,524,554 | |
| AVE TE^(ADJ) = k - e - m + v - l + h | |
| 82,877,464 | |
| ATFE^(ADJ) = c - e - l + h | |
| 98,524,554 |
Financial Performance Measure:
| ROF = OSBIT^(ADJ) / ATFE^(ADJ) x 100 | 4.5 |
| --- |
| ROE = NSAT^(ADJ) / AVE TE^(ADJ) x 100 | 2.3 |
| ROI = OSBIT^(ADJ) / ATFE^(ADJ) x 100 | 2.4 |
1 = maximum statutory income tax rate applying to corporate entities
subscript 'p' = end of the previous financial year
subscript 'c' = end of the current financial year
ROF = return on funds
ROE = return on equity
ROI = return on investment
l.v = book value
ave = average
dfv = optimised deprival valuation
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 129
Gazette.govt.nz —
NZ Gazette 2005, No 129
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