MUNICIPAL LIGHTING.

Dominion, Volume 1, Issue 296, 8 September 1908, Page 4

MUNICIPAL LIGHTING.

REVENUE AND EXPENDITURE. Tho Electric Lighting Department of the City Council has prepared a return of revenue and expenditure for tho month of July and for the year ended July 31, with comparative statements of tho corresponding periods of last year. Tho revenue for July amounted to £5237, as compared with £5015 in the previous year, and the working expenses were £2503, as against £2555 last year. Tho excess of revenue over working expenses amounted to £2733, or £273 bettor than last year. Tho financial results for tho first completed year of the undertaking under tho corporation aro satisfactory. The total revenuo amounted to £43,350, an increase of I £IGOB as compared with the previous year, this notwithstanding the fact that there was a decrease of £1337 in the public lighting revenue, due to most of the street lighting haying been transferred to the tramways power 'station. The working expenses amounted to £22,457, or only £088 more than were incurred by tho company. Tho gross surplus for the year was £20,893, or £920 moro than that attained by the company, which is regarded as very satisfactory considering tho substantial reduction in cost to the consumer mado by the corporation, amounting to £3744. After providing for interest charges of £0473, sinking fund £3000, and depreciation £5297, amounting in all to £14,770, the rosult of the year's working shows a net surplus of £6122. The total number of units sold during tho year amounted to 1,872,067, an increase of 186,722 units, as compared with the previous year. The average revenue .per unit sold amounted to 5.50 d., or nearly half a penny less than that obtained by the company in their last year. Tho working expenses have, however, decreased by nearly a farthing per unit sold. After allowing for interest, sinking fund, and depreciation charges, the net result is a profit of a littlo under threo farthings per unit. '