POWER BOARD FINANCES

Southland Times, Issue 19522, 23 May 1922, Page 5

POWER BOARD FINANCES

POSITION OF ACCOUNTS. £255,000 EXPENDED. Yesterday’s meeting of the Power Board had placed before it a report covering the Board’s financial transactions on account of the scheme up to March 31. The Board has paid out of loan moneys all expenses incurred in connection with the scheme. In other words the whole of the expenditure thus far has been capital expenditure and most of it has been definitely charged against one or other of the scheduled sections of the capital account. The balance, which mainly represents stocks of stores, materials, and general plant not yet issued to the Works, has been held more or less in suspense, it being impossible at the moment, to say in connection with which phase of the works the stores, etc., will be used. The following is a sum mary of the position of the expenditure as at March 31 (shillings and pence omitted) *. Generation— £ Lands, roads and bridges .. .. 26,725 Lake Monowai control 3,233 Intake service reservoir 5,935 Pipe lines, surge pipes, valves, etc 10,565 Powerhouse, buildings, and machinery 11,408 Engineering and contingencies . 3,384 Main transmission lineslo,ols Main sub-stations 2,801 Steam stand-by plant 2.408 Distribution pole lines 81,931 Future additions and extensions .. 18,065 Public offices, store-rooms, sections, furniture, etc 14,197 General plant, loose tools, traction engine, punt, horses, etc. 11,769 Sawmill, buildings and timber .. 6,229 Motor cars and motor vehicles .. 9,029 Temporary buildings, stores, and sidings 2,076 Huts for workmen 1,473 Materials on hand, cement, poles, insulators, ironwork 30,887 General stores in stock 1,021 Showroom samples .. 1,079 Sundry debtors 880 Total £255,121 The foregoing expenditure, £255,121 plus unexpended portion of the loan money, £499,400. the total being £754,521 13/9, represents the Board’s assets; the liabilities being (a) The amount of loan raised by issue of t’aSnlures £750,000; (b) amount raided by mortgage on the public offices, £2800; (c) contractors’ deposits £416; (d) sundry creditors, £6lB 17/7; (e) unpres€”rtcd creques 8i“ at March 31, 1922, £686 16/6, ti.e sum of these being £754,521 13/ v.