TRADING ACCOUNTS OF BOROUGH
REPORT TO SUMNER
COUNCIL
The position of the trading amounts of the Sumner Borough Council was outlined in a report last evening by Cr. I. J. Wilson. He said that the gas account showed a net loss of £774 before providing for sinking fund of £lO6, making a total loss of £BBO. This looked serious, until it was realised that an amount of £I3OO for renewals which should have been written off over 20 years had actually been written off in the last two years. Therefore, the position was not nearly as bad as tire figures made it appear. The price of gas had been increased for only six months of the financial year, and had it been in operation for 12 months, the accounts would probably have been square. The electric light account was in. a much better condition, and showed a net profit of £652. There was less cash in hand than at the start of the year, but this was the result of expenditure on plant, chiefly on two transformers. V, Cr. Wilson’s report was approveor and adopted.
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Press, Volume LXXV, Issue 22717, 23 May 1939, Page 9
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185TRADING ACCOUNTS OF BOROUGH Press, Volume LXXV, Issue 22717, 23 May 1939, Page 9
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