Power Board's Year Closes With Surplus

Chronicle (Levin), 30 April 1948, Page 4

Power Board's Year Closes With Surplus

With revenue totalling £11*7,555 and expenditure £115,036,.^ Horowhenua Eleetric Board's activities. for the yeai ended March 31 last show a Suipius of £2529. The statement OI acchunts was submitted tQ a recent meeting of the board by the managing-secretary, Mr. R. A- , Frederikson. . " . , The principai items of revenue were as foilows, the flgures for the previous year - bing ,. s^ve?;iriJ5 parentheses: — Domestic SUPP^ £65,962 (£61,814), commerciai supply £15,543 (£13,520) , rural supply £13,042 (£12,610), industriai Ppwei £12,091 (£10,929) and atreot lighting £1310 (£1274) . Piscounts amounted . to £7346 (£6835) , making the net ' electricity saies £100,602 (£93,312). • On the expenditure side the chief items, with the correspon'ding flgures for the previous year in parentheses, were as fpliowa.--Power purchased £46,599 (£44,182) , maintenance and generai distri£17.795 (£15,757), manage-

ment • and generai £9446 (|79|0) , interest on loans £7804 (£7244) , sinking funds and prmcipal repayments £11,582 (£10,139) an. capital expenditure from revenue £2510 (£1511). . tq "Once again' the accounts have disclosed a vejry satisfactory position" commented Mr. Frederikson. "The' most striking pomt ls that the net revenue from sales of electricity has exceedd £100,000. Without rationing the totai revenue would have been consicierably higher. With the existmg quotta in force for the next three. years, the greatest difficulty _ wiU be to keep the unit saies within the limit set by the State Hydro Electricity . Departmpnt. "The greatest growth has occurred under commerciai supply and industrial power, where the unit saies, have inpreased, by 21.5 per cent. and 14.5 per cent. respectively. The Levin Farm, Weraroa, and the Otaki Sanatorium account for the _ majpr portion of the commerciai increase, while the increase in industrial power is accounted for by an * increase in the major industrial consumers and aodi'tional connections made." Thefe was no doubt that_ tne replacement of poles wouid be a very lieavy item in the - near tuuvre, commented the engineer, j Mr. J. F. Bryce. The main bmk • qf the poles at present in exist1 ence had been in us for some 22 to 25 years' and naturally they ! would have to : be repiaced very shortly. ' •' In reply to a question, Mr. I Bryce said that he considered the ; best type of pole to be iron- ; bark. . t In moving that the statement of accounts be adopted, the chairman, Mr. T. G. Vincent, thankep , the members of the staff and the ! exscutive officers for the efflcient mannr in which all work had been carried out during the year and the loyal support accorded the board. • it was gratifying to see the statement of accounts for the year erided March -31 issued by April 21, "comniehted Mr.' F. W Vickerman. •