New Zealand Gazette – 2005 – No. 136

Page 3301

✨ Financial Performance Statement

Network Waitaki Limited Lines Business

Statement of Financial Performance for the Year Ended 31 March 2005

REVENUE	2005 $	2004 $
Operating revenue
Revenue from line/access charges	7,254,948	7,489,997
Revenue returned as Customer Discount	(1,001,545)	(1,519,350)
Revenue from "Other" business for services carried out by the line business	0	0
Interest on cash, bank balances and short term investments	592,265	453,586
AC loss-rental rebates	159,933	275,824
Other revenue not listed above
Capital Contributions
Use of Money Interest	870,607	655,321
Other	0	0
	870,607	655,321

Total operating revenue | | 7,876,208 | 7,355,378 |

EXPENDITURE
Operating expenditure
Payment for transmission charges		2,326,560	2,201,995
Transfer payments to the "Other" business for	3	1,055,748	913,645
Asset maintenance
Consumer disconnection/reconnection services		0	0
Meter data		0	0
Consumer-based load control services		0	0
Royalty and patent expenses		0	0
Avoided transmission charges on account of own generation		0	0
Other goods and services		606,032	493,967
Total transfer payment to the "Other" business		1,661,780	1,407,612

| Expense to entities that are not related parties for | | | |
| Asset maintenance | | 134,936 | 146,722 |
| Consumer disconnection/reconnection services | | 0 | 0 |
| Meter data | | 0 | 0 |
| Consumer-based load control services | | 0 | 0 |
| Royalty and patent expenses | | 0 | 0 |
| Total of specified expenses to non-related parties | | 134,936 | 146,722 |

| Employee salaries, wages and redundancies | | 57,318 | 35,618 |
| Consumer billing and information system expense | | 25,900 | 19,408 |
| Depreciation on | | | |
| System Property, Plant and Equipment | | 2,025,406 | 1,623,414 |
| Other Property, Plant and Equipment | | 6,000 | 3,786 |
| Total depreciation | | 2,031,406 | 1,627,200 |

| Amortisation of | | | |
| Goodwill | | 0 | 0 |
| Other intangibles | | 0 | 0 |
| Total amortisation of intangibles | | 0 | 0 |

| Corporate and administration | | 224,646 | 195,299 |
| Human resource expenses | | 1,096 | 772 |
| Marketing/advertising | | 6,291 | 3,258 |
| Merger and acquisition expenses | | 0 | 0 |
| Takeover defence expenses | | 0 | 0 |
| Research and development expenses | | 0 | 0 |
| Consultancy and legal expenses | | 62,764 | 5,500 |
| Donations | | 0 | 0 |
| Directors' fees | | 83,966 | 74,233 |
| Auditors' fees | | | |
| Audit fees paid to principal auditors | | 43,778 | 13,043 |
| Audit fees paid to other auditors | | 0 | 0 |
| Fees paid for other services provided by principal and other auditors | | 0 | 0 |
| Total auditors' fees | | 43,778 | 13,043 |