ELECTRICITY PAYS

Dominion, Volume 25, Issue 171, 15 April 1932, Page 18

ELECTRICITY PAYS

Net Surplus of £36,020 lieporting on the electricity department to the City Council last evening, the general manager, Mr. M. Cable, said: — “The revenue shows a decrease of £22,711 and the total expenditure chargeable to revenue a decrease of £3294 as compared with last year. After meeting all capital charges there is a net surplus of £30,020. From this amount £20,000 has been transferred to the district fund to meet relief work expenses. The total capital expenditure for the year, including Bowen House, amounted to £72,050. This is met by the balance of the net surplus and transfers from the electricity renewal and reserve funds.” The general details are shown as follow:—

Revenue 1931-32 £ 334,476 1930-31 357/287 Working expenses 168,486 169,206 Special expenditure and appreciations chargeable to revenue .... 45.652 53,258 Capital charges 81,318 79,286 Total expenditure and charges 298,456 301,750 Net surplus on operation 36,020 55,537 £334.476 £357,287 £ £ Net surplus brought down 36,020 Less transfers to district fund for relief work expenses 20,000 Balance of net surplus used to meet expenditure on capital works during rear 16,020 Expenditure on capital works during year comprising land, buildings, sub-station plant, meters and electric cables 72,050 Contribution toward cost of above from electricity renewal and reserve funds 56,030 £72,050 £ 72,050