GAS DEPARTMENT

Wanganui Chronicle, Volume 86, Issue 116, 20 May 1942, Page 3

GAS DEPARTMENT

\ HIGHER EXPENDITURE = DEBIT BALANCE £5362 “The result of the. year’s operai tions cannot be regarded as highly . satisfactory, but it cap at least > I be sailil that every effort has been I put forth under most trying cirs on instances,” stated the Gas Department engineer and manager > (Mr. Stone) when reporting that expenditure for the year totalled £70,972. With the debit balance brought forward from the previous year, a total deficit of £5362 was disclosed. Expenditure for the year was £3847 in excess of that estimated. Coal supplies. Mr. Stone added, continued to be the main source of anxiety. For , some time an endeavour had been ’ made to build up a reserve, but it was ’ unfortunate that stocks of suitable i coal should again run short at a period ’ of the year when the demand lor gas was at its peak. The position had slightly improved of late, and it was hoped that it would be maintained through the winter. “The total revenue showed a slight increase on the previous year and exceeded the estimate to the extent of £1,764 Ils 2d. When the estimates were prepared consideration was given to the effect on many homes of the cal; on manpower for the war machine, which it was thought would haw a detrimental influence on the gas consumption. The returns, however, were slightly better than anticipated, the report stated. Receipts and working expenditure for the Gas Department, as supplied by the city treasurer (Mr. Best)

. Total Expenditure £70,973 £74,229 It was unfortunate that the Gas Department had no depreciation or reserve fund built up out of past profits from which it could meet heavy expenditure on repairs to plant, Mr. Stone stated. The policy of transferrim; profits from the gas to the general account for the relief of rates was pursued over a lengthy period, with ' the result that when the time came for a considerable expenditure on repairs, the account was unable to meet it without further bon owing. “It is pleasing to be able to report that the loan debt on the works, which cost over £245,03), has now been reduced to £81,250, with the prospect ol a further redu 'Hon at an early date,” Mr. Stone added.

RECEIPTS. 1941-42 1940-41 £ (las 41,703 41.691 10,079 Tar 3.493 3.844 Fittings 5,423 5,115 Other Receipts 188 247 Transfer from General A/c. 1,200 — £68,790 £67,303 The total revenue of £68,79C was £1765 in excess of that estimated. EXPENDITURE. 1941-42 1940-41 £ £ Manufacture 9,482 26,619 10,255 Distribution 5,907 5.786 Fittings 4,717 5,096 Uookera 4,777 5,890 Management 5,453 Other Expenditure 485 '639 Interest and Sinking Fund 6,928 l> '.*28 Working Expenditure £64,454 £66,182 Renewals, etc., Expenditure £6,519 £.8,047