New Zealand Gazette – 2008 – No. 21

Page 473

✨ Financial Performance Measures

13 FEBRUARY 2008
NEW ZEALAND GAZETTE, No. 21
473

Buller Electricity Limited
Line Business Performance Measures

Buller Electricity Limited - LINES BUSINESS

SCHEDULE 1 - PART 7
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS

Derivation Table	Input and Calculation	Symbol In Formulae	ROF	ROE	ROI
Operating surplus before interest and income tax from financial statements	1,704
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT)	1,704			1,699	1,699
Interest on cash, bank balances, and short-term investments (ISTI)	5
OSBIT minus ISTI	1,699	a	1,699
Net Surplus after tax from financial statements	1,297
Net surplus after tax adjusted pursuant to regulation 18 (NSAT)	1,297	n		1,297
Amortisation of goodwill and amortisation of other intangibles	-	g	add	add	add
Subvention payment	-	s	add	add	add
Depreciation of SFA at BV (x)	727
Depreciation of SFA at ODV (y)	727
ODV depreciation adjustment	-	d	add	add	-
Subvention payment tax adjustment	-	s^t		deduct
Interest tax shield	46	q		deduct	46
Revaluations	281	r		add	deduct
Income tax		p		deduct	261
Numerator			OSBIT^(AD) + a + g + s + d	NSAT^(AD) + n + g + s - t + o	OSBIT^(AD) + a + g + s + d - p - n^t

| Fixed asset at end of previous year (FA_p) | 20,173 | | | | |
| Fixed assets at end of current financial year (FA_n) | 20,845 | | | | |
| Adjusted net working capital at end of previous financial year (ANWC_p) | 197 | | | | |
| Adjusted net working capital at end of current financial year (ANWC_n) | 505 | | | | |
| Average total funds employed (ATFE) | 20,860 | c | 20,860 | | 20,860 |
| Total equity at end of previous financial year (TE_p) | 18,901 | | | | |
| Total equity at end of current financial year (TE_n) | 20,906 | | | | |
| Average total equity | 19,903 | k | | 19,903 | |
| WUC at end of previous financial year (WUC_p) | | | | | |
| WUC at end of current financial year (WUC_n) | | | | | |
| Average total works under construction | | | | | |
| Revaluations | 281 | r | deduct | | |
| Half of revaluations | | r/2 | | | deduct |
| Intangible assets at end of previous financial year (IA_p) | - | | | | |
| Intangible assets at end of current financial year (IA_n) | - | | | | |
| Average total intangible asset | | m | add | | |
| Subvention payment at end of previous financial year (S_p) | - | | | | |
| Subvention payment at end of current financial year (S_n) | - | | | | |
| Subvention payment tax adjustment at end of previous financial year | | | | | |
| Subvention payment tax adjustment at end of current financial year | | | | | |
| Average subvention payment and related tax adjustment | | v | | add | |
| System fixed assets at end of previous year at book value (SFA_bv_p) | 19,053 | | | | |
| System fixed assets at end of current financial year at book value (SFA_bv_n) | 18,899 | | | | |
| Average value of system fixed assets at book value | 18,976 | f | deduct | 18,976 | deduct 18,976 |
| System fixed assets at year beginning at ODV value (SFA_odv_p) | 19,053 | | | | |
| System fixed assets at end of current financial year at ODV value (SFA_odv_n) | 18,899 | | | | |
| Average value of system fixed assets at ODV value | 18,976 | h | add | 18,976 | add 18,976 |
| Denominator | | | ATFE^(AD) = c + g - h | AveTE^(AD) = k + m - v - f + h | ATFE^(AD) = c - e - i - r/2 + h |

| Financial performance measure | | | 8.15% | 6.52% | 6.67% |

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

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