MIRAMAR TEAMS

New Zealand Times, Volume XXXIII, Issue 7870, 4 August 1911, Page 1

MIRAMAR TEAMS

LOSS OVEE A3OOO TO DATE. ANNUAL BALANCE-SHEET. The Miramar, Borough Council has owned, its tramway service for a - little more than three years, and, according to the balance-sheet for the year ending March hist last, the loss on the undertaking to date amounts to .£3067 19s' lid. The loss for the last twelve months on the working revenue account was .£559 15s • and the net loss, including interest on loans for the twelve months, was .11926 6s sd. i Liabilities were shown to be .018,118 15s id, made up as follows: —Loans totalling .£28,995 at -Id per cent.; subsidies towards construction, .£15,500;

sinking fund, J.'550 15s sd; district fund, , ,£3067 19s lid. The assets were set out as follows: — Permanent way and equipment, .£26,794 15s 9cl; roadworks for tramways (including half oost*of Seatoun tunnel), shelters, lighting and preliminary expenses, .£33,~ 9G6; AVollington City Council (present value of seven instalments duo ior por- : tion of lino sold within the city boundaries), c£6261 15s; balance being difference between, present value and amount due by AVollington City Council, X'lloß 13s; sinking funds: investments, .£3507; cash in bank, .£207 2s sd; balance being loss to date as per revenue appropriation account, .£3067 19s lid. Total, .£46,118 15s Id. The revenue account for the twelve months ended March 31st last was as follows: —Traffic expenses; Miramar section, car mileage dues, «£1737~115; standing time, X'3l 13s 3d. Seatouu section: Car mileage dues, J 51232 7s; standing time, .£32 Ss 9d; tickets, .£3.5 2s lid; lighting, J;11S 7s lid; general repairs and maintenance, .£77 8s 8d; general expenses, 2s 4d. Total, J 23354 Is lOd. Traffic* revenue:—Miramar section, JC1334 8s 4d; Soatoun section. JM4IS 18s; sundry receipts, etc., .£27 10s Gd; carriage of mails, etc.. .£l6 10s; balance by net loss, .£559 15s. Total, .£3354 Is lOd.

The net revenue account showed that the loss for the twelve months was J.T926 6s sd, made up as follows: Revenue account, .£559 15s; interest on loans, JillSl 18s Id; sinking fund, .£lB4 13s 4d. The appropriation account showed the loss on the undertaking to date to be .£3067 19s lid. The balance-sheet was considered in committee, but was not finally adopted. The tramway committee reported on the car mileage and receipts for the four-weekly periods from April Ist to July 2Lst. Last year the balance of amounts 'paid to the city for the period totalled .£324. This year the balance of the amounts paid totalled .£3l, <o that tho position of the tramway? lias