Annual Report 2011 - Watercare
Annual Report 2011 - Watercare
Annual Report 2011 - Watercare
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<strong>Watercare</strong> Services Limited<br />
<strong>2011</strong> ANNUAL REPORT<br />
Notes to the financial statements<br />
for the year ended 30 June <strong>2011</strong><br />
1. Revenue<br />
The water and wastewater operating revenue represents the amounts invoiced to customers and the accrual of unbilled water and wastewater<br />
revenue. This revenue excludes any price adjustment.<br />
group and Company<br />
Company<br />
<strong>2011</strong> 2010<br />
$000 $000<br />
Revenue from sale of goods<br />
Retail and bulk water 131,438 71,962<br />
Revenue from rendering of services<br />
Wastewater revenue 203,773 106,922<br />
Trade waste revenue 14,038 11,763<br />
Total revenue water and wastewater 349,249 190,647<br />
Water and wastewater revenue is shown net of leak remissions and prompt payment discount (PPD).<br />
Below is a breakdown of leak remission and PPD:<br />
Water and wastewater revenue 346,358 178,884<br />
Leak remission – water (689) -<br />
Leak remission – wastewater (994) -<br />
Prompt payment discount – water (4,031) -<br />
Prompt payment discount – wastewater (5,433) -<br />
Water and wastewater revenue net of remissions and PPD 335,211 178,884<br />
Trade waste revenue 14,038 11,763<br />
Total revenue water and wastewater 349,249 190,647<br />
Other revenue<br />
Infrastructure growth charge 7,374 -<br />
Developer and financial contributions 3,945 1,111<br />
New meters and service connections 2,690 -<br />
Other revenue 9,011 6,652<br />
Dividend income 34 49<br />
Interest income 804 768<br />
Total other revenue 23,858 8,580<br />
Total revenue 373,107 199,227<br />
2. Price Adjustment<br />
Section 57(1)(a) of the Local Government (Auckland Council) Act 2009 states that the company: “must manage its operations efficiently with a<br />
view to keeping the overall costs of water supply and wastewater services to its customers (collectively) at the minimum levels consistent with<br />
the effective conduct of its undertakings and the maintenance of the long term integrity of its assets”.<br />
Pursuant to this section, the group decided that no price adjustment would be paid for the year ended 30 June <strong>2011</strong> (2010: nil).<br />
PAGE 81<br />
<strong>2011</strong> Financial <strong>Report</strong><br />
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