Electricity Supply

Hawke's Bay Tribune, Volume XXVI, Issue 143, 2 June 1936, Page 3

Electricity Supply

NAPIER ACCOUNTS Council Profit for Year £11,563 INCREASE OF REVENUE A net profit of £11,563 was made during the year ended March 81 last by the Napier municipal electricity department. Of this sum, £3754, representing the tramways deficiency, has been appropriated to the net revenue account, leaving a balance of £7809 to be carried forward for the ensuing year. Last year, approximately £34,00u was appropriated for the purpose of writing-down useless plant and machinery. There is still an amount of £14,827 6/1 to be written-off, as it is merely a paper asset shown as “Plant Obsolescence and Earthquake Losses.’’ Figures to show a comparison of tho electricity sales and various expenses for tho years 1934-35 and 1935-36 were placed before councillors last evening by the Town Clerk, Mr F. R. Watters. They were as follow:—

REVENUE ACCOUNT. The revenue account, showing n credit balance of £20,905 18/2, is as follows:—

The whole financial position of the electricity department is reviewed in the balance-sheet, which is as follows:—

electric power supplied to the various departments of the Napier municipality has been realised as ’the result of a de cision made early last year, when the borough estimates were being considered, to reduce the pi ice of power by various amounts. Based on the previous year’s consumption of electricity, it was estimated that revenue from this source would be reduced by about • Xt'uiM), but tho achiuj amount jf the

reduction is loss because it was hoc brought into force until the time »>f the July reading of the meter last year, and the ieduction is only for the period from July, .192.3, to March 31, 1936. The price of electric current sold vo consumers 'luring the past yeai, totaling £37,304 9/-, represents an increase by £274 .10/10 on that sold, during the previous year.

Sales of electricity . Salo of ranges .... Miscellaneous .... 1934-35 £ 43,904 1935-36 £ 43,482 1,043 206 £43,980 £44,731 ■1 ' ■ ——— Purchase of current 15,810 15,774 Powerhouse expenses 820 712 Distribution 3,120 3,802 Management & geuer; ,il 1,988 2,203 Installation of ranges — 1,283 Interest & sinking fund 5,741 7,277 Depreciation 5,708 634 Sundries 193 1,483 Net profit 11,386 11,563 —— — - — Totals £43,980 £44,731 —— «■ 1 ■

Expenditu re. £ Generation 16,485 16 7 Distribution 3,801 16 10 General expenses 3,486 5 6 Bad debts written-off (cloc trie-lighting accounts) 41 15 9 Bad debts written-off 6 10 5 Refund of deposits forfeited 2 6 0 Balance to net revenue account 20,905 18 2 Total 44,733 0 3 Income £ Sales of electricity .... 55,353 8 7 Less discouuts 11,871 3 6 43,482 5 1 Sales of ranges .... 1,043 2 1C Miscellaneous services .. 206 5 3 | Bad debts recovered .. 1 16 .1 Total £44,733 9 3 NET REVENUE ACCOUNT. The net revenue account for the year ended March 31 last is is follows: — Expenditure £ s d Interest 5,696 6 11 Sinking Fund 1,581 6 6 Contribution National Pro vident Fund 26 7 0 Depreciation 634 9 b Power house restoration 837 12 it Renewals 491 5 7 Premiums on conversion written-off 75 5 1 Appropriation to gcnarl ' account 3,733 18 S Balance to balance-sheet 7,809 6 2 Total £20,905 18 2 Income £ s d Balance from revenue account 20,905 18 2 THE BALANCE-SHEET.

Liabilities £ s d Conversion loan (1934) maturing in varying amounts between 1949 and 1963 134,931 14 4 Principal repayments reserve 1,101 1 Sinking fund applied in in redemption of loan 4,166 15 9 Sinking fund applied in payment of cash premiums on conversion 124 9 1 Sinking fund reserve 14,327 11 2 Depreciation fund reserve 23,573 1 Sundry creditors 6,735 17 Consumers’ deposits .. 1,994 11 s Net revenue account .. 7,809 (> Total £193,864 8 3

Assets Power-house machinery, plant, furniture, etc. 111,245 2 0 Plant obselescence and earthquake losses .. 14,827 6 1 Premiums on conversion 2,031 17 9 Sinking-fund commissioner 14,531 15 () Depreciation fund commissioner 22, 33S 11 b Sundry debtors ■1,197 12 ■ 1 Stores 5,301 8 i) Cash on hand 18,727 14 0 .. —— - — — Tot ill £193,SGI 8 o liEDL'CTXON IN CHAI,'GES.