ELECTRIC LIGHT

Dominion, Volume 10, Issue 3056, 18 April 1917, Page 8

ELECTRIC LIGHT

A G6OD YEAR NET PROFIT OP £16,258 ' "Net on : year's operations, £16,258." ..That is in brief the record of the Electric .Lighting Department of the Wellington ,City Corporation . for the year ended March 31 last, and it cannot but'bo considered- highly satisfactory.., The revenue has in-, creased. £7474 oil -the.figures for- the previous .year, whilst, the total working expenses have increased hy £6214. The figures compared wityi those for ■1915-16 are as follows:— , ' ■■■ • 1916-17. 1915-16. .','.£ ,• . £ Private lighting 60,546 53,072 Public lighting ...... 6,126 5,939 Tower supply 4,988 4,358 Heating supply 5,119 3,605 Bank interest 1,996 — Miscellaneous receipts 697 . 649 Total revenue £79,472 £67,623. The figures on. the expenditure side are as follows:—

'. . 1916-17. 1915-16. £. ■ £ Generation expenses 21,774 16,685 Distribution expenses 4,580 4,466 General expenses ... 8,368 \ 7,357 Total working ex- ' penses ...;,... 34,722 28,508 Interest 7,174 . 7,158 Sinking fund 3,169 3,169 Depreciation ........... 7,815 7,871 Total expenditure ...£52,880 £46,706 The Appropriation. Account. The appropriation . account and amounts deducted therefrom for special purposes are as follows: — £ £ Credit balance from revenue account ..i...... — 26,592 Active service pay ■ 219 Amount written off old :■ ■ ■ station plant ..:. 5,000 Amount written off goodwill account 5,000 Amount written off preliminary expenses ... 115 • -— 10,334 Net profit on year's operations :' ~ — £16,258 The hank .balances are:—Lighting revenue account, £64,248; lighting, accident fund, £2507.