New Zealand Gazette – 2006 – No. 141

Page 4986

✨ Financial Performance Measures



4086

NEW ZEALAND GAZETTE, No. 141

17 NOVEMBER 2006

SCHEDULE 1 - PART 7 2004 EST OF ACTUAL

FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS

Derivation Table March 2006

Input and Calculations Symbol in formula ROF ROE ROI
Operating surplus before interest and income tax from financial statements a
6,066
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (GSB IT) 6,656
Interest on cash, bank balances, and short-term investments (ISTI) 95
OSBIT minus ISTI 6,560 a 6,560 6,560
Net surplus after tax from financial statements 5,231
Net surplus after tax adjusted pursuant to regulation 18 (NSAT) 5,251 n 6,251
Amortisation of goodwill and amortisation of other intangibles 0 g add add
Subvention payment 0 s add add
Depreciation of SFA at BV (x) 5,206
Depreciation of SFA at ODV (y) 5,536 d add add
ODV depreciation adjustment 330 q deduct
Subvention payment tax adjustment 0 t
Interest tax shield -31 r deduct -31
Revaluations 0
Income tax -1,430 p -1,430
Numerator OSBIT(^{T})= a + g + s - d NSAT(^{T})= n + g + s + t OSBIT(^{T})= a + g + q - e - s + d + p - r

| Fixed assets at end of previous financial year (FA(_p)) | 121,548 | | | |
| Fixed assets at end of current financial year (FA(_c)) | 129,011 | | | |
| Adjusted net working capital at end of previous financial year (ANWC(_p)) | -450 | | | |
| Adjusted net working capital at end of current financial year (ANWC(_c)) | -225 | | | |
| Average total funds employed (ATFE) | 124,042 | c | 124,042 | 124,042 |
| (for regulation 33 time-weighted average) | | | | |
| Total equity at end of previous financial year (TE(_p)) | 123,577 | | | |
| Total equity at end of current financial year (TE(_c)) | 129,327 | | | |
| Average total equity | 126,202 | k | 126,202 | |
| (for regulation 33 time-weighted average) | | | | |
| WUC at end of previous financial year (WUC(_p)) | 0 | | | |
| WUC at end of current financial year (WUC(_c)) | 0 | | | |
| Average total works under construction | 0 | n | deduct | |
| (or regulation 33 time-weighted average) | | | | |
| Revaluations | | | | |
| Half of revaluations | 0 | r | deduct | |
| Intangible assets at end of previous financial year (IA(_p)) | 0 | | | |
| Intangible assets at end of current financial year (IA(_c)) | 0 | | | |
| Average total intangible asset | 0 | m | add | |
| (for regulation 33 time-weighted average) | | | | |
| Subvention payment at end of previous financial year (S(_p)) | 0 | | | |
| Subvention payment at end of current financial year (S(_c)) | 0 | | | |
| Subvention payment tax adjustment at end of previous financial year | 0 | | | |
| Subvention payment tax adjustment at end of current financial year | 0 | v | add | |
| System fixed assets at end of previous financial year at book value (SFA(_p)) | 120,606 | | | |
| System fixed assets at end of current financial year at book value (SFA(_c)) | 127,559 | | | |
| Average value of system fixed assets at book value | 124,084 | l | 124,084 | deduct |
| (for regulation 33 time-weighted average) | | | | |
| System Fixed assets at year beginning of ODV value (SFA(_p)) | 120,606 | | | |
| System Fixed assets at end of current financial year at ODV value (SFA(_c)) | 127,559 | | | |
| Average value of system fixed assets at ODV value | 124,084 | h | add | 124,084 add |
| (for regulation 33 time-weighted average) | | | | |

| Denominator | ATFE(^{T})= c | 124,042 | | |
| | AVE TE(^{T})= k | | 126,202 | |
| | ATFE(^{T})= c - e - j + h | | | 124,042 |

Financial Performance Measure:

  • ROF = OSBIT(^{T}) / ATFE(^{T}) x 100 = 5.27
  • ROE = NSAT(^{T}) / AVE TE(^{T}) x 100 = 4.16
  • ROI = OSBIT(^{T}) / ATFE(^{T}) x 100 = 4.16
  • f = maximum statutory income tax rate applying to corporate and trust businesses in NZ
  • e = net of the current financial year
  • ROF = return on funds
  • ROE = return on equity
  • ROI = return on investment
  • by = book value
  • av = average
  • ODV = optimised deprival valuation
  • subscript “p” = end of the previous financial year


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 141


Gazette.govt.nz — PDF NZ Gazette 2006, No 141




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