New Zealand Gazette – 2006 – No. 133

Page 3857

✨ Financial Statements

Network Waitaki Limited Lines Business

Statement of Financial Performance for the Year Ended 31 March 2006

REVENUE	2006	2005
Operating revenue
Revenue from line/access charges	7,842,545	7,254,948
Revenue returned as Customer Discount	(995,788)	(1,001,545)
Revenue from "Other" business for services carried out by the line business	0	0
Interest on cash, bank balances and short term investments	537,887	592,265
AC loss-rental rebates	397,115	159,933
Other revenue not listed above
Capital Contributions	1,543,211	870,607
Use of Money Interest	0	0
Other	13,152	0
	1,556,363	870,607

Total operating revenue | | 9,338,722 | 7,876,208 |

EXPENDITURE		2006	2005
Operating expenditure
Payment for transmission charges		2,173,142	2,326,560
Transfer payments to the "Other" business for
Asset maintenance	3	888,262	1,055,748
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
Total transfer payment to the "Other" business		888,262	1,661,780

| Expense to entities that are not related parties for |
| Asset maintenance | | 255,818 | 134,936 |
| 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 | | 255,818 | 134,936 |

| Employee salaries, wages and redundancies | | 688,917 | 57,318 |
| Consumer billing and information system expense | | 73,419 | 25,900 |
| Depreciation on | | | |
| System Property, Plant and Equipment | | 2,480,553 | 2,025,406 |
| Other Property, Plant and Equipment | | 178,076 | 6,000 |
| Total depreciation | | 2,658,629 | 2,031,406 |

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

| Corporate and administration | | 125,347 | 224,646 |
| Human resource expenses | | 15,815 | 1,096 |
| Marketing/advertising | | 9,447 | 6,291 |
| Merger and acquisition expenses | | 0 | 0 |
| Takeover defence expenses | | 0 | 0 |
| Research and development expenses | | 0 | 0 |
| Consultancy and legal expenses | | 104,849 | 62,764 |
| Donations | | 0 | 0 |
| Directors' fees | | 65,801 | 83,966 |
| Auditors' fees | | | |
| Audit fees paid to principal auditors | | 44,835 | 43,778 |
| Audit fees paid to other auditors | | 0 | 0 |
| Fees paid for other services provided by principal and other auditors | | 0 | 0 |
| Total auditors' fees | | 44,835 | 43,778 |