New Zealand Gazette – 2006 – No. 156

Page 4566

✨ Financial Performance Measures



4566

NEW ZEALAND GAZETTE, No. 156

29 NOVEMBER 2006

F 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 26,167
Operating surplus before interest and income tax adjusted pursuant to Requirement 18 (OSBIIT) 26,167 26,167 26,167
Interest on cash, bank balances, and short-term investments (ISTI) 0
OSBIIT minus ISTI 26,167 a
Net surplus after tax from financial statements 21,294 21,294
Amortisation of goodwill and amortisation of other intangibles 0 g add 0 add
Subvention payment 1,430 s add 1,430 add
Depreciation of SFA at BV (x) 6,123
ODV depreciation adjustment 3,496 d add 3,496 add
Subvention payment tax adjustment 472 s*t 472 deduct
Interest tax shield 2,458 q deduct
Revaluations 0 r Add
Income tax (2,575) p Deduct
Numerator 31,093 25,748 30,738
OSBIIT^ADJ - a + g + s + d NSAT^ADJ + g + s*t + d OSBIIT^ADJ + g - p - s*t + d
Fixed assets at end of previous financial year (FA₀) 257,203
Fixed assets at end of current financial year (FA₁) 309,834
Adjusted net working capital at end of previous financial year (ANWC₀) (195)
Adjusted net working capital at end of current financial year (ANWC₁) 170,405
Average total funds employed (ATFE) 282,976 e (or Requirement 32 time-weighted average) 282,976
Total equity at end of previous financial year (TE₀) 116,959
Total equity at end of current financial year (TE₁) 143,672 k (or Requirement 32 time-weighted average) 143,672
Average total equity
WUC at end of previous financial year (WUC₀) 6,437 v 8,323 deduct
WUC at end of current financial year (WUC₁) 10,209
Average total works under construction 8,323 (or Requirement 32 time-weighted average) deduct
Revaluations 0 r
Half of revaluations 0 r/2
Intangible assets at end of previous financial year (IA₀) 0
Intangible assets at end of current financial year (IA₁) 0 m
Average total intangible asset 0 (or Requirement 32 time-weighted average) deduct
Subvention payment at end of previous financial year (S₀) 1,172
Subvention payment at end of current financial year (S₁) 1,430
Subvention payment tax adjustment at end of previous financial year 387
Subvention payment tax adjustment at end of current financial year 472
Average subvention payment and related tax adjustment 872 v 872
System fixed assets at end of previous financial year at book value (SFA_bv0) 250,762
System fixed assets at end of current financial year at book value (SFA_bv1) 299,621 f deduct 275,192 deduct
Average value of system fixed assets at book value 275,192 (or Requirement 32 time-weighted average)
System fixed assets at year beginning at ODV value (SFA_odv0) 203,713
System fixed assets at end of current financial year at ODV value (SFA_odv1) 207,286
Average value of system fixed assets at ODV value 205,500 h add 205,500 add
Denominator 204,961 66,529 204,961
ATFE^ADJ = e - v - f + h Ave TE^ADJ = k - e - m + v - f + h ATFE^ADJ - e + h/f - h
Financial Performance Measure ROF = OSBIIT^ADJ/ATFE^ADJ x 100 ROE = NSAT^ADJ/Ave TE^ADJ x 100 ROI = OSBIIT^ADJ/ATFE^ADJ x 100
15.2 38.7 15.0

1 – maximum statutory income tax rate applying to corporate entities
ROF = return on funds
ROE = return on equity
ROI = return on investment
subscript ‘0’ – end of the previous financial year
subscript ‘1’ – end of the current financial year
bv – book value
ave – average
odv – optimised deprival valuation



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 156


Gazette.govt.nz — PDF NZ Gazette 2006, No 156




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🏭 Electricity Performance Measures (continued from previous page)

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Financial Performance, Efficiency Performance, Energy Delivery, Electricity Information Disclosure Requirements