← Page 670

New Zealand Gazette – 2008 – No. 30

Page 671

Page 672 →

✨ Financial Performance Measures

19 FEBRUARY 2008

NEW ZEALAND GAZETTE, No. 30

671

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	a	1,331,000
Operating surplus before interest and income tax adjusted pursuant to requirement 18 (OSBIT)		1,331,000
Interest on cash, bank balances, and short-term investments (IST)	b	40,000
Net surplus after tax from financial statements	c	991,000
Net surplus after tax adjusted pursuant to requirement 18 (NSAT)		991,000
Amortisation of goodwill and amortisation of other intangibles	d	-64,000
Depreciation of SFA at BV (x)	e	0
ODV depreciation adjustment	f	3,463,151
Subvention payment adjustment	g	3,575,954
Subvention payment tax adjustment	h	92,803
Interest, tax shield	i	0
Revaluations	j	237,270
Income tax	k	0
Numerator	a + b + c + d + e + f + g + h + i + j + k	898,196	991,000	991,000
Fixed assets at end of previous financial year (FA0)	l	105,125,000
Adjusted net working capital at end of previous financial year (ANWC0)	m	-4,156,000
Adjusted net working capital at end of current financial year (ANWC1)	n	-6,926,000
Average total funds employed (AFTE)	o	96,259,000
Total equity at end of previous financial year (TE0)	p	90,856,000
Total equity at end of current financial year (TE1)	q	91,417,000
Average total equity	r	91,156,500
WUC at end of previous financial year (WUC0)	s	1,034,000
WUC at end of current financial year (WUC1)	t	1,552,000
Average total works under construction	u	1,293,000
Revaluations	v	0
Intangible assets at end of previous financial year (IA0)	w	0
Intangible assets at end of current financial year (IA1)	x	0
Average total intangible assets	y	0
Subvention payment at end of previous financial year (S0)	z	102,760,000
Subvention payment at end of current financial year (S1)	aa	102,853,000
Subvention payment adjustment at end of previous financial year	ab	101,507,256
Subvention payment tax adjustment at end of current financial year	ac	100,696,519
Average subvention on payment & related tax adjustment	ad	101,101,803
System fixed assets at end of previous financial year at ODV value (SFA0v)	ae	102,806,500
System fixed assets at end of current financial year at ODV value (SFA1v)	af	101,307,536
Average value of system fixed assets at ODV value	ag	102,081,683
Denominator
ROF	(a + b + c + d + e + f + g + h + i + j + k)/o	0.93
ROE	(c)/r		1.09
ROI	(c)/ag			0.97

Requirement 33 (line-weighted average):

Return on equity (ROE) = (OB SIBITADJ/ATEQUITY) x 100

ROE = return on equity.

OB SIBITADJ = operating surplus before interest and income tax, adjusted.

ATEQUITY = average total equity.
Return on funds (ROF) = (OB SIBITADJ + FADJ) x 100 / AFE

ROF = return on funds.

OB SIBITADJ = operating surplus before interest and income tax, adjusted.

FADJ = financial adjustment.

AFE = average funds employed.
Return on investment (ROI) = OB SIBITADJ/AFEFUNDS x 100

ROI = return on investment.

OB SIBITADJ = operating surplus before interest and income tax, adjusted.

AFEFUNDS = average funds employed (subject to adjustment if necessary).