Buller Electricity Limited

Line Business Financial Statements

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

11 Operating revenue

(a) Revenue from line/access charges | 5,562,288 | 5,027,999 |
(b) Revenue from "Other" business (transfer payment) | 0 | 5,930 |
(c) Income from interest on bank & short term investments | 4,692 | 0 |
(d) AC loss rental rebates | 112,003 | 147,144 |
(e) Other operating revenue not listed in (a) to (d) | 573,034 | 347,583 |

(f) Total operating revenue | 6,252,017 | 5,528,656 |

12 Operating expenditure

(a) Transmission Charges | 1,796,162 | 1,769,223 |

(b) Transfer payments to "Other" business:

(i) Asset maintenance | 560,128 | 720,377 |
(ii) Consumer disconnections and reconnections | 0 | 0 |
(iii) Meter data | 0 | 0 |
(iv) Consumer based load control | 0 | 0 |
(v) Royalty and patent expenses | 0 | 0 |
(vi) Avoided transmission charges for own generation | 0 | 0 |
(vii) Other goods & services not listed in (i) to (vi) above | 0 | 0 |

(vii) Total transfer payment to the "Other" business | 560,128 | 720,377 |

(c) Payments to non-related entities:

(i) Asset maintenance | 121,954 | 116,553 |
(ii) Consumer disconnections and reconnections | 0 | 0 |
(iii) Meter data | 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 | 121,954 | 116,553 |

(d) Employee salaries, wages and redundancies | 448,731 | 441,634 |
(e) Consumer billing and information system expense | 0 | 0 |

(f) Depreciation on:

(i) System fixed assets | 727,325 | 721,590 |
(ii) Other assets not listed in (i) | 82,326 | 105,815 |

(iii) Total depreciation expense | 809,651 | 827,405 |

(g) Amortisation of:

(i) Goodwill | 0 | 0 |
(ii) Other intangibles | 0 | 0 |

(iii) Total amortisation of intangibles | 0 | 0 |

(h) Corporate and administration | 362,864 | 320,908 |

(i) Human resource expense | 75,816 | 67,833 |
(k) Marketing and advertising | 0 | 0 |
(l) Merger and acquisition expenses | 0 | 0 |
(m) Takeover defence expenses | 0 | 0 |
(n) Research and development expenses | 0 | 19,691 |
(o) Consultancy and legal expenses | 38,976 | 42,560 |
(p) Donations | 42,560 | 40,149 |

(q) Directors fees | 83,906 | 83,750 |

Audit fees:

(i) Audit fees paid to principal auditors | 29,545 | 30,400 |
(ii) Audit fees paid to other auditors | 0 | 0 |
(iii) Fees paid for other services provided by auditors | 30,851 | 46,903 |

(iv) Total auditors fees | 60,396 | 77,303 |

(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 | 10,615 | 11,292 |
(t) AC loss-rental rebates expense | 0 | 0 |
(u) Rebates to customers due to ownership interest | 0 | 0 |
(v) Subvention payments | 0 | 0 |