New Zealand Gazette – 2005 – No. 14

Page 317

✨ Financial Statements

18 JANUARY 2005
NEW ZEALAND GAZETTE, No. 14
317

Buller Electricity Limited
Line Business Financial Statements

Statement of Financial Performance Disclosure (Schedule 1, Part 2)

	2004 $	2003 $
11 Operating revenue
(a) Revenue from line/access charges	4,991,323	4,686,450
(b) Revenue from “Other” business (transfer payment)	84	0
(c) Income from interest on bank & short term investments	113,353	207,657
(d) AC loss rental rebates	113,343	85,065
(e) Other operating revenue not listed in (a) to (d)	230,314	13,073
(f) Total operating revenue	5,448,417	4,992,245

| 12 Operating expenditure | | |
| (a) Transmission Charges | 1,804,057 | 1,683,459 |
| (b) Transfer payments to “Other” business | | |
| (i) Asset maintenance | 910,144 | 771,980 |
| (ii) Consumer disconnections and reconnections | 0 | 2,393 |
| (iv) Meter data | 0 | 228 |
| (v) Royalty and patent expenses | 0 | 0 |
| (vi) Avoided transmission charges for own generation | 0 | 0 |
| (viii) Total transfer payment to the “Other” business | 910,144 | 774,601 |
| (c) Payments to non-related entities | | |
| (i) Asset maintenance | 135,820 | 52,225 |
| (ii) Consumer disconnections and reconnections | 0 | 0 |
| (iv) Consumer based load control | 0 | 0 |
| (v) Royalty and patent expenses | 0 | 0 |
| (vi) Total of specified expenses to non-related parties | 135,820 | 52,225 |
| (d) Employee salaries, wages and redundancies | 503,577 | 663,831 |
| (e) Consumer billing and information system expense | 0 | 23,383 |
| (f) Depreciation on | | |
| (i) System fixed assets | 323,384 | 299,288 |
| (ii) Other assets not listed in (i) | 60,775 | 58,704 |
| (iii) Total depreciation expense | 384,159 | 357,992 |
| (g) Amortisation of | | |
| (i) Goodwill | 0 | 0 |
| (ii) Other intangibles | 0 | 0 |
| (iii) Total amortisation of intangibles | 0 | 0 |
| (h) Corporate and administration | 202,463 | 192,836 |
| (i) Human resource expense | 29,692 | 20,253 |
| (j) Marketing and advertising | 0 | 29,694 |
| (k) Merger and acquisition expenses | 0 | 0 |
| (l) Takeover defence expenses | 0 | 0 |
| (m) Research and development expenses | 0 | 0 |
| (n) Consultancy and legal expenses | 26,516 | 27,271 |
| (o) Donations | 35,304 | 34,362 |
| (p) Directors fees | 78,000 | 62,705 |
| (q) Audit fees | | |
| (i) Audit fees paid to principal auditors | 25,879 | 25,001 |
| (ii) Audit fees paid to other auditors | 0 | 450 |
| (iii) Fees paid for other services provided by auditors | 54,306 | 50,733 |
| (iv) Total auditors fees | 80,185 | 76,184 |
| (r) Costs of offering credits | | |
| (i) Bad debts written off | 0 | 0 |
| (ii) Increase in estimated doubtful debts | 0 | 0 |
| (iii) Total costs of offering credit | 0 | 0 |
| (s) Local authority rates | 10,861 | 12,668 |
| (t) AC loss-rental rebates expense | 0 | 0 |