✨ Financial Performance Measures
15 FEBRUARY 2008 NEW ZEALAND GAZETTE, No. 24 547
WAIPA NETWORKS LIMITED - LINES BUSINESS
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 | 2,811,445 | ||||
| Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIIT) | 2,811,445 | ||||
| Interest on cash, bank balances, and short-term investments (ISTI) | 7,255 | ||||
| OSBIIT minus ISTI | 2,804,190 | a | 2,804,190 | 2,804,190 | |
| Net surplus after tax from financial statements | 1,702,500 | ||||
| Net surplus after tax adjusted pursuant to regulation 18 (NSAT) | 1,702,500 | n | 1,702,500 | ||
| Amortisation of goodwill and amortisation of other intangibles | 0 | g | add 0 | add 0 | add 0 |
| Subvention payment | 0 | s | add 0 | add 0 | add 0 |
| Depreciation of SFA at BV (x) | 1,594,079 | ||||
| Depreciation of SFA at ODV (y) | 2,279,063 | ||||
| ODV depreciation adjustment | -684,984 | d | add -684,984 | add -684,984 | add -684,984 |
| Subvention payment tax adjustment | 0 | s*t | deduct 0 | deduct 0 | |
| Interest tax shield | 280,818 | q | deduct 280,818 | ||
| Revaluations | 0 | r | add 0 | ||
| Income tax | 250,725 | p | deduct 250,725 | ||
| Numerator | 2,119,206 OSBIITADJ = a + g + s + d |
1,017,516 NSATADJ = n + g + s - s*t + d |
1,587,663 YADJ = a + g - q + r + s + d - p - s*t |
||
| Fixed assets at end of previous financial year (FA0) | 60,784,458 | ||||
| Fixed assets at end of current financial year (FA1) | 64,055,220 | ||||
| Adjusted net working capital at end of previous financial year (ANWC0) | 803,188 | ||||
| Adjusted net working capital at end of current financial year (ANWC1) | 207,587 | ||||
| Average total funds employed (ATFE) (or regulation 33 time-weighted average) |
62,925,227 | c | 62,925,227 | 62,925,227 | |
| Total equity at end of previous financial year (TE0) | 52,755,507 | ||||
| Total equity at end of current financial year (TE1) | 54,458,007 | ||||
| Average total equity (or regulation 33 time-weighted average) |
53,606,757 | k | 53,606,757 | ||
| WUC at end of previous financial year (WUC0) | 0 | ||||
| WUC at end of current financial year (WUC1) | 0 | ||||
| Average total works under construction (or regulation 33 time-weighted average) |
0 | e | deduct 0 | deduct 0 | deduct 0 |
| Revaluations | 0 | r | |||
| Half of revaluations | 0 | r/2 | deduct 0 | ||
| Intangible assets at end of previous financial year (IA0) | 0 | ||||
| Intangible assets at end of current financial year (IA1) | 0 | ||||
| Average total intangible asset (or regulation 33 time-weighted average) |
0 | m | add 0 | ||
| Subvention payment at end of previous financial year (S0) | 0 | ||||
| Subvention payment at end of current financial year (S1) | 0 | ||||
| Subvention payment tax adjustment at end of previous financial year | 0 | ||||
| Subvention payment tax adjustment at end of current financial year | 0 | ||||
| Average subvention payment & related tax adjustment | 0 | v | add 0 | ||
| System fixed assets at end of previous financial year at book value (SFAbv0) | 59,845,149 | ||||
| System fixed assets at end of current financial year at book value (SFAbv1) | 63,135,500 | ||||
| Average value of system fixed assets at book value | 61,490,325 (or regulation 33 time-weighted average) |
f | deduct 61,490,325 | deduct 61,490,325 | deduct 61,490,325 |
| System Fixed assets at year beginning at ODV value (SFAodv0) | 59,948,163 | ||||
| System Fixed assets at end of current financial year at ODV value (SFAodv1) | 62,439,736 | ||||
| Average value of system fixed assets at ODV value | 61,193,950 (or regulation 33 time-weighted average) |
h | add 61,193,950 | add 61,193,950 | add 61,193,950 |
| Denominator | 62,628,852 ATFEADJ = c - e - f + h |
53,310,382 Ave TEADJ = k - e - m + v - f + h |
62,628,852 ATFEADJ = c - e - ½r - f + h |
||
| Financial Performance Measure: | 3.38 ROF = OSBIITADJ/ATFEADJ x 100 |
1.91 ROE = NSATADJ/Ave TEADJ x 100 |
2.54 ROI = OSBIITADJ/ATFEADJ x 100 |
t = maximum statutory income tax rate applying to corporate entities
bv = book value
ave = average
odv = optimised deprival valuation
subscript '0' = end of the previous financial year
subscript '1' = end of the current financial year
ROF = return on funds
ROE = return on equity
ROI = return on investment
LexisNexis
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 24
Gazette.govt.nz —
NZ Gazette 2008, No 24
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Notes to Financial Statements for Waipa Networks Limited
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