TRAMS AND BUSES

Evening Post, Volume CXXIII, Issue 113, 14 May 1937, Page 4

TRAMS AND BUSES

YEAR'S OPERATIONS

SMALL DEBIT BALANCE

ELECTRICITY PROFIT

A statement of the results of the past year's operations, to March 31, in the tramways and electricity departments was put before the City Council last night by the General Manager, Mr. M. Cable. Though the tramways year ended with a credit, losses on bus operation transformed the favourable result into a debit balance for the combined transport services. The electricity department ended the year with a small credit balance. Mr. Cable summarised the returns as follows: — "Tramway revenue amounted to £385,285, as compared with £350,109 in the previous year. After meeting all working expenses and capital charges there is a credit balance on tramway operation for the year of £3505. "After meeting working expenses and depreciation there is a loss on bus operation for the year of £5067, and the net financial result of the operation of the tramways and buses for the year is a debit balance of £1562, compared with a credit balance of £792 in the previous year. "The electricity department's revenue amounted to £335,620, compared with £338,374 in the previous- year. The total working expenses, special charges, and appropriations amounted to £326.633, compared with £295,031 in the previous year, and the net result is a credit balance of £8987." 'The figures in general detail are:— TRAMWAYS OPERATION.

CHAIRMAN'S COMMENTS. The Mayor, Mr. T. C, A. Hislop; chairman-of the committfee, said that ! the position of the tramways undertaking was about £2300 worse than last year, but until the current year had run a little longer they could not tell what the developments were going to he. There was, however, no question that a most careful watch would have to be kept upon the tramways undertaking for there was little to come and go on if any further increase in expenditure had to be met. In the period covered by the figures submitted the additional costs due to the shorter week, etc., had applied only since September, with some back payments to July, but in the current year they would apply for the full twelve months.The gross revenue was greater than during 1935-36, but the position was not so satisfactory in that the credit balance upon the combined operations had been turned to a debit balance. I-OW RATES FOR ELECTRICITY. The credit balance of £8987 from the Electricity Department was very much less than the balance for 1935-36, but on the other hand Wellington now had reduced the charges for power used in the home till they were the lowest in the Southern Hemisphere, and if the department could go along on that basis and' still keep just on the right side there was every reason to be satisfied, but the returns did show that the council could not look to the Electricity Department for the help that had been obtained from it in the past.

1330-31. _-----.. increase. £ £ £ Revenue 385,285 350,109 35,17(5 Working expenses & miscellaneous . 308,027 269,367 28,660 Capital charges ... 73,753 . 75,543 1,7-0 (decrease) Total expenditure 381,780 344,910 36,870 Credit balance ... 3,505 5,199 1,694 (decrease) BUS OPERATIONS. 1936-37. 1933-36. Increase. Working expenses. 21,100 19,069 2,031 Depreciation, new buses 757 — "" 21,857 19,069 2,788 Revenue 16,790 14,662 2.12S Debit balance .... 5,067 4,407 060 £21,857 £19.069 £2,788 TRAXS AXD BUSES COMBINED. 1936-37. 1935-36. Increase. £ £ £ Revenue 402,075 364,771 37,304 W°chk«es an. d... m! S. C." 329,834 288,436 41.448 Tramway- capital „„ „„ „_._ 1 ... cbarges : ",,o3 >^ e J^ Total expenditure 403,637 363,979 39,658 Credit balance (last year) — l92 ~ Debit balance .. l,a6Z — ELECTRICITY DEPARTMENT. 1936-37. 1935-36. Increase. Revenue ......... 3 3 f,620 W^Jg* Working expenses . 217,127 202,812 14.313 Special expenditure 42,233 la,920 26,313 Capital charges . 52,273 51,299 9ii To district fund . 15,000 — — Transferred to district fund and loan written off .... - 25 '000 (d J°' 0 s 0 e ° Expenditure and approbations .... 326,633 2fe.0Sl - Balance S'98T "^(decrease)