TRAMWAY FINANCE

Dominion, Volume 5, Issue 1430, 3 May 1912, Page 6

TRAMWAY FINANCE

REDUCED PROFITSFIGURES FOR THE YEAR. THE LIGHTING ACCOUNT. Tlio balance-sheet. of tho City 'J'rnimvnys Department for the twelve mouths ended March 31, 1912, slums a surplus oil workin? of J:2220, as compared with .fJli'Ji'.j oil tho preceding twelve months. I'm- (lie year just ended appropriations for capital expenditure have absorbed the working surplus, and an additional sum, which leaves a debit balance of .£2824 on tho balance-sheet. For Ihe year 1910-11 a credit balance of X'lOli'J was carried to the balance-sheet. Appropriations for 1011-12 include a >siim of X'.'JdCO, which was spent during the year in the conversion of cars, construction of loops, and other works that ; might huvo been made a charge on capital. t Revenue Account. On tins, revenue account, receipts are shown as .£135,709, .as against .£133,708 in 11)10-11. Tho percentage of revenue per car-mile was K.GtiCd. ' in' 1911-12," and 14.259 d. .in 1910-11. Details of revenue for 1911-12 are as follow (shillings and pcnco have been omitted throughout):— Traffic ;Revenue— X Hale of tickets on city lines 12!),454 Karori lilies, car mileage dues ... 5,211 Miramar lines, car mileage dues. 2,802 Special cars 141 Freight-car receipts 118 C'arriago of newspapers, mails, and postal officials 410 Sundry Revenue — Rents '315 Advertising in cars 101 .Miscellaneous receipts 33 Working Expenses. Under tho heading of expenditure, the revenue account shows the following details :— m «. £ Traffic expenses (which include wages of motormen and conductors, ,£39,091) 53,887 General expenses 7,504 General repairs and maintenance 23.0 CC Power expenses 15,450 Total working expenses 09,909 In 1910-11 tho working exponscs totalled ■£92,026. On the 1911-12 account a balance of has been carried to the net revenue account. The corresponding balance for the previous year was .£41,081. Net Revenue Account. The net revenue account shows that tho sum of .£38,800 has been, allocated as under. A comparison with tho figures for 1910-11 is also given:— 1910-11. . 1911-12. . £ X Interest on loans 18,748 . 18,935 Sinking fund ; 4,468 4,791 Depreciation (including Wadestown section, ■£591) 12,818 . 13,829 : Total J36.034 ' £37,558 On the 1911-12 account a balance of .£1241 is carried to the appropriation account.' The corresponding balance 111 1910-11 was JJoG'IG. Appropriation Account. The appropriation account 6howa:— JE Expenditure. Conversion of box cars to "combination" typo (2,250 Erection of building and bathing conveniences at Ly'all Bay 41G Construction of loop in Oriental Bay 91 Construction of temporary workshops at Newtown car-shed 15G Alterations to overhead equipment in Clyde Quay and Oriental Bay 212 Contributions to district fund (sinking fund horso,. .tramway loan) :i. T.-li. i ,'i.. 500 Annual amount written off preliminary expenses 1,384

Total .£5,015 Against this receipts in tho appropriation account are as follow:— Surplus from tramway net rcvenuo account : 1,211 Sui"plus from power supply net revenue account 978 Debit balanoe .£2,811 Depredation Fund. The depreciation and renewals fund account shows: — £ By amount as at March 31, 1911 72,105 Amount set aside during year to March 31, 1912 15,455 Total i£S?,S6O Balance-sheet. The balance-sheet-shows that the total capital expenditure to date on tlie tramways is £70-1,667. Per the period since the tramways wero inaugurated a credit balance is shown of Ji11,515. At March 31, 1911, this balance amounted to .£14,3-10. It lias been reduced, as shown by tho amount of the debit balance l'or the year just closed. Wadestown Section. Following are details of tho special account in connection with tho Wadestown section:— Expenditure. £' Traffic expenses G52 General expenses 98 Repairs and maintenance 181 I'ower expenses 1,179 Capital charges 1,102 Total '2,581 Income. £ Traffic revenue I,GOS Carriage of mails and postal officials 11 Rents 125 Total revenue 1,745 Loss to city on operation of lino for nino months .. 2SG Amount recoverable from "Wadestown ratepayers as rates to meet interest and sinking fund oil "Wadestown tramway loan to March 31, 1912 550 Power Supply Accounts. Following" are tho items of income and expenditure on tho power supply revenue account, the corresponding amounts for tho previous year being slipwn in parentheses:— , Xioveuuo: Current supplied -for track lighting, JC3193 Is. (£3553). Current sold to private consumers for power and lighting, £6365 (<£s-195). Total, £9858 (=£9079). Expenditure: Total working expenses, £4266 (£3938). The balance carried to tho net revenue account is £5592. The corresponding balance in 1910-11 was £51-10. Tho power supply net rovenuo account shows that the balance of £5592 has been allocated as under, the allocations for 191011 being shown in parentheses:— Interest on'capital, £2396 (£2385). Sinking fund, £590 (£sSfi). Depreciation, £1625 (£1589). A balance of £978 was carried, as indicated above, to the Tramways Appropriation Account. Tho corresponding balanco for 1910-11 was £578.