New Zealand Gazette – 2008 – No. 13

Page 316

✨ Financial Performance Measures

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	2,802
Operating surplus before interest and income tax adjusted pursuant to requirement 18 (OSBIT)	2,802
Interest on cash, bank balances, and short-term investments (STI)	41
OSBIT minus (STI)	2,761	a	2,761		2,761
Net surplus after tax from financial statements	1,604
Net surplus after tax adjusted pursuant to requirement 18 (NSAT)	1,604	n		1,604
Amortisation of goodwill and amortisation of other intangibles	-	g	add	add	add
Subvention payment	-	s	add	add	add
Depreciation of SFA at BV (x)	963		add	287	add
Depreciation of SFA at ODV (y)	676				287
ODV depreciation adjustment	287	d		deduct	deduct
Subvention payment tax adjustment	-	s'
Interest tax shield	71	q	add		71
Revaluations	-	r
Income tax	942	p		deduct	942
Numerator		OSBIT^(ADJ) = a + g + s + d	3,046	NSAT^(ADJ) = n + g + s + e + s' + v - d	1,891

| Fixed assets at end of previous financial year (FA_0) | 24,575 | | | | |
| Fixed assets at end of current financial year (FA_1) | 24,258 | | | | |
| Adjusted net working capital at end of previous financial year (ANWC_0) | 214 | | | | |
| Adjusted net working capital at end of current financial year (ANWC_1) | (51) | | | | |
| Average total funds employed (ATFE) | 24,498 | c | 24,498 | | |

| Total equity at end of previous financial year (TE_0) | 21,406 | | | | |
| Total equity at end of current financial year (TE_1) | 20,930 | | | | |
| Average total equity (TE) | 21,148 | k | | 21,148 | |

| WUC at end of previous financial year (WUC_0) | - | | | | |
| WUC at end of current financial year (WUC_1) | 18 | e | deduct | 9 | deduct |
| Average total works under construction | 9 | | | | |

| Revaluations | - | | | | |
| Half of revaluations | - | r/2 | | | |

| Intangible assets at end of previous financial year (IA_0) | - | | | | |
| Intangible assets at end of current financial year (IA_1) | - | | | | |
| Average total intangible asset | | m | | deduct | |

| Subvention payment at end of previous financial year (S_0) | - | | | | |
| Subvention payment at end of current financial year (S_1) | - | | | | |
| Subvention payment tax adjustment at end of previous financial year | - | s' | | | |
| Subvention payment tax adjustment at end of current financial year | - | | | | |
| Average subvention payment & related tax adjustment | - | v | | add | |

| System fixed assets at end of previous financial year at book value (SFA_BV0) | 23,263 | f | deduct | 23,097 | 23,097 |
| System fixed assets at end of current financial year at book value (SFA_BV1) | 22,930 | | | | |
| Average value of system fixed assets at book value | 23,097 | | | | |

| System Fixed assets at year beginning at ODV value (SFA_ODV0) | 20,290 | h | add | 20,257 | 20,257 |
| System Fixed assets at end of current financial year at ODV value (SFA_ODV1) | 20,224 | | | | |
| Average value of system fixed assets at ODV value | 20,257 | | | | |

| Denominator | | ATFE^(ADJ) = c - e - 1/2r + m | 21,650 | TE^(ADJ) = k - e - m + v + 1/2r | 18,300 | I^(ADJ) = c - e - 1/2r | 21,650 |

Financial Performance Measure:

Maximum default income tax rate applying to corporate entities (the previous financial year) = book value
- bv = book value
- ave = average
- odv = optimised deprival valuation

ROF = OSBIT^(ADJ) / ATFE^(ADJ) x 100
ROE = NSAT^(ADJ) / TE^(ADJ) x 100
ROI = OSBIT^(ADJ) / I^(ADJ) x 100

VUW Te Waharoa — NZ Gazette 2008, No 13

Gazette.govt.nz — NZ Gazette 2008, No 13

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Annual Valuation Reconciliation Report for Nelson Electricity Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsValuation Reconciliation, System Fixed Assets, ODV, Depreciation, Revaluations, Nelson Electricity Limited, Financial Statements

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