FINANCES SATISFACTORY.

New Zealand Herald, Volume LXVII, Issue 20480, 4 February 1930, Page 13

FINANCES SATISFACTORY.

WAITEMATA POWER BOARD. INCREASE IN RETURNS. A satisfactory financial position was revealed in the report presented by the secretary-treasurer, Mr. A. Main, at a meeting of tho Waitemata Electric-Power Board yesterday. Tho report stated that the total sales of current for the nine months ended December 31 wore £56,363, against £49,132 for the corresponding period in 1928, an increase of £7231. Tho gross sales for the month of December amounted to £7957, compared with £7089 for December of 1928, an increase of £B6B. Discounts allowed to consumers for the inne months totalled £6475. The loan account submitted showed a credit balance for capital expenditure, on account of loans sanctioned to date, of £39,526. Tho secretary did not consider, that it would be necessary to raise any portion of the £30,000 loan before next April or May. The revenue account showed a surplus of £lß3l on the nine months' working. In the present financial year there was a non-recurring expenditure of approximately £ISOO. Sundry rentals, interest on investments, fixed deposits and financial advances had so far earned £lslO.

The report stated that units totalling 6,571,810 were sold for the gross amount of £56,363 4s 8d an average of 2.06 d gross and I.Bod nett a. unit sold, as against 2.2 gross for the corresponding period for 1928. In comparison with the nine months ended December 31, 1928, it was shown that consumers were still using more units at a lower cost, the ninemonthlv consumption in 1929 being 900 units per consumer at I.Bod nett, as against 831 units at 1.925 d nett for flic same period in 1928.